Banking on Digital Growth
Banking on Digital Growth

Episode · 1 year ago

68) #ExponentialInsights: The 5 P’s of Digital Growth & Transformation feat. Jeffrey Ward


Digital transformation is thrown around a lot.

Many say they’re aiming to transform, but few do — why is that?

Usually, it’s because they are missing a key ingredient…

And that’s almost always one of the 5 P’s of digital growth and transformation.

Jeffrey Ward, Enterprise Executive at TurnKey Lender, knows all about the 5 P’s from his LinkedIn Live video series, 15 Minutes, where he has interviewed dozens of leading minds in financial brand marketing, sales and Fintech.

In this episode, we discuss:

  • The power of personal branding

  • How branding meshes with content-based networking

  • The 5 P’s of digital growth and transformation

You can find this interview, and many more, by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.'s Mawr important than ever as a financial institution, as a traditional institution or non traditional institution toe have purpose around how you treat your customers because we all know it takes a certain amount of energy to get a client. It takes even less energy to keep a client, which got to be purposeful about how you spend that energy you're listening to. Banking on Digital Growth with James Robert Lay, a podcast that empowers financial brand marketing, sales and leadership teams to maximize their digital growth potential by generating 10 times more loans and deposits. Today's episode is part of the exponential insight Siri's, where James Robert interviews the industry's top marketing sales, and Fintech leaders sharing practical wisdom toe exponentially elevate you and your team. Let's get into the show Greetings and hello, I am James Robert Ley and welcome to the 68th episode of the Banking on Digital Growth podcast. Today's episode is part of the exponential insight, Siri's and I'm excited to welcome Geoffrey Ward to the show, and Jeffrey is an enterprise executive, a turnkey Linder and a host of turnkey lenders linked in live video. Siri's titled 15 Minutes, where he has these great 15 minute conversations with so many different, interesting and insightful people. He's interviewed dozens and dozens of financial brand marketing cells and leadership team members, Fintech leadership team members over the past few months and looking forward. Toa learning a little bit from those conversations today. Welcome to the show, Jeffrey. Thank you very much, James Robert Ley. It's an honor and a privilege to be here to start off. You know, I want to focus on what inspired you to launch this video interview Siri's because I'm grateful that you did. I really have learned so much from the good questions that you've been asking others. Well, I greatly appreciate that you know what was inspirational in doing. So was that about a year ago at this time we were having a Q B R meeting with our marketing team quarterly business Review, and I wanted to present myself as a thought leader in the Fintech space, and I did so because we throw around these words digital transformation and they are momentous, right? What does that mean? How does that impact an organization? And I wanted to present myself from a thought leadership perspective, being able to better to find what digital transformation could mean for my prospects for my clients, for turnkey lender, I wanna actually go down that path for a moment. This is more of just a personal aside for you and really, how does this play into turnkey Lindor strategy? Because one of the predictions that I made this year, my my Top 12 insights or Top 12 Opportunities for Growth is the idea of empowering the team member empowering the employees because I'm predicting going forward, the employee brand has the potential to be even far greater than that of, say, the corporate brand. And that could make a lot of people feel uncomfortable. Had a really good conversation about this with Carrie Ann Benton Stimpson, who's the chief marketing officer at the Jamon B group down in Jamaica. She's working with her team as the CMO to empower their cells team toe to really build these personal brand. Should they even had a day to where they were highlighting the side hustles the side businesses of some of their team members with the communities that they're serving. So how is this idea of personal brand your your perspective, thought leadership playing into You know how. How do you reconcile in this? Because it can make some people feel uncomfortable. Yeah, that's a great question. You know, what I've...

...enjoyed about developing my personal brand is it's just given me the ability to broaden my network. You know, across the country, right? I think it's given me the ability to broaden my network. I think it's given me the ability to broaden my understanding of the importance of Fintech. It's given me the ability to expand my understanding off how technology is transforming banking and transforming lending. And it's kind of fun to be the face of turnkey lender on linked in life and on linked in Yeah, and so if if I'm in your position. But I work out a financial brand and you know, I see some of those opportunities, but some things holding me back, maybe I'm a little scared to put myself out there. And there's so many others who are doing great work like this. Like, you know, I think of Alec Hanson over at Lone Depot and and and so many other good people. How can I overcome some of those fears that are probably just, you know, it's the false evidence appearing riel that I'm holding myself back. What? What advice could you give to me? Thio out there? You know, that's funny. Um, that's a great question. I had the experience to interview Jill Castillo, who is CEO of Edmund's Bank or Citizens. Great Yokohoma. And it brought me back to like, the first time I played football, starting on the varsity football team, right? I had huge butterflies. I knew exactly what I was going to talk to her about. I'd already sent her the questions. But, you know, I was like, What? I have this deer in the headline headlights moment and I was able to power through it. So my advice would be is, yes, it's gonna be kind of scary. Scary. Yes, you're going to be nervous, but it's an experience you gotta have because it's it's an adrenaline Rushmore than anything. Yeah, and and and I'm thinking of two conversations that I've had. Episode number 46 with James Carberry, who I mentioned to you before we we, we we hit record. He wrote the book content based networking, which I'm seeing such a tremendous opportunity as a financial brand lender or or even someone who might be a branch manager, because this idea of connecting with people in the digital world to build relationships in the digital world, I think you said it best before we hit record was you could literally go across the country now and not have to worry about where you're going to say, because of the good connections and relationships that you're building just from these conversations that you're having on the on the flip side of the spectrum had a conversation with Jay Paultre episode number 50 51 where he was discussing that more of the practicality of this. You know, I could take, you know, 345 hours and go play a round of golf with three other people. Or I could take to your point those 15 minutes and make an impact of hundreds, if not thousands of other people through this lens of digital context. So kudos to you for leading in this direction. I appreciate that. You know the other thing that has come out of this and no, really, what I want my clients to get in my connections to get is that it It's for me. It's about the ability to serve right. And, you know, I think every single person that's been on my show has been passionate. I think that they all have purpose. They all have passion. They all have intention. And I'm hopeful that the audience, the participants may have a question may have a thought. May have a need that that somehow I'm able to serve that in in the opportunity to present these people to our audience. And so I think it's really, really important for me. You know, I love sales. I love closing business. I love the excitement, the thrill of the kill. But it's really about the opportunity to serve more than anything that right there, you...

...know, just if people followed you and just they watched, they listened. They could learn so much just on this journey that you're you've taken yourself, but it does come back to this. It's a bigger purpose, and we'll come back to this idea of purpose here in a moment. But it is about servant leadership. It's about putting other people before yourself and and thinking about all that you've learned through these 15 minute conversations that you've had you shared five points. Five patterns of from these discussions and these points and patterns, I believe, can inspire the dear listener to continue to move forward, to make progress along their own digital growth journey. And and I want to frame these these points, these lessons, these insights into what we'll just call for today's conversation. The five piece, uh, and and and the first observation that you shared with me and you mentioned this before. It's passion and that passion will run from the CEO all the way down to the solution. Engineer. Why is passion important for this idea of digital growth? Digital transformation? And how does passion really drive the customer experience and future success? Great question. You know, I think passions. What gets us out of bed in the morning? Passions. What makes me stand up and potentially compare myself to somebody else and how I'm going to do it better, right? I've been in college and I've been in seminars, and I've been experiences where I've sat at the see table with individuals, and you could think about how do I separate myself from the CEO? How do I separate myself from the CFO. How do I separate myself from another sales executive? And the on leeway Aiken do? That is through my passion and that passion can touch everything that I could do. It could touch my skill set. It could touch my education. It can touch my communication. It could touch my approach. And so I think passion is a is a very important key to success for any type of role that you dio and hearing you talk through that this idea of of passion and how to deliver passion through the context of digital. There's no better way to do that than through the work that you're doing with these 15 minute conversations, because you're getting to see not only your passion but the passion of the person that you're having this conversation with. Come out, you can see it. It could be the podcast. You can hear it, and it's It's hard to convey that passion a lot of times through writing alone, but writing can then inform those conversations. So I made 100% agreement about this, this idea of passion, which is really closely connected with the second P that you shared with me which is purpose. So what role does purpose play in regards to digital growth? And why do you believe that purpose is now more important than ever before to have meaningful connections within the banking vertical? Another great question. So purpose, You know, you gotta have intention. You gotta have purpose. You gotta have a reason to be at the table. You gotta have a value proposition. And I think understanding my network and and understanding the value that they bring to the world to digital transformation is their purpose. What I get the opportunity to do is peel back the layers of the onion and show that purpose, right? And I think it's mawr important than ever, as a financial institution, as a traditional institution or non traditional institution toe have purpose around how you treat your customers because we all know it takes a certain amount of energy to get a client. It takes even less energy to keep a client which you gotta be purposeful about how you spend that energy. You know, you talk about purpose and you talk about spending... I can't help but think about you know, the writings of Napoleon Hill. You know, think and grow rich and and purpose is always at the center of his writing and his thinking Purpose is at the center of our digital growth blueprint and purpose really does help to create that intent and elevate the thinking within a financial brand. Whether it's on the marketing sales leadership side to elevate the thinking beyond the promotion of commoditized products, dollars and cents to really putting the focus, coming back to what you're sharing before framing that around people, their pain points their problems and then offering prescriptions and solutions to those problems. Which brings us to the third point of performance and performance. One of the things that we're hearing over and over and over again and we're living it. It's changed and it's so easy when we think about change, to get wrapped up in all of the small things. What is the best way to bring performance and the idea of performance up to a higher level to focus on the goal, the cause, the purpose and really staying focused on expectations? Great question. You know, I think myself personally, that performance is is extremely important, and I think that performance is something that I have to get out of bed with an intention toe to provide peak performance each day. Right. I think performance is easier when I know my goal when I know where I need to focus. And I know I know my expectations. I think purpose and performance is easier with leadership, right? If you have great leadership within the organization, they're telling you these air, my expectations thes air how we're going to perform and this is what we're gonna do. And you know clearly what would get you outside the guardrail, right? So I think performance is key in, You know, if if I was a lender how Maney loans, I'm gonna dio Performance is critical in and my enterprise role in the number that I have to hit on an annual basis performance is critical in how I approach my clients in their evaluation. I have to be professional. I have to be prepared. I have to know and perform in a manner that adds value to the organization because we all have more competition than we've ever had before. Technology has transformed our world, and digital has changed the way consumers shop for and buy financial services forever. Now consumers make purchase decisions long before they walk into a branch if they walk into a branch at all. But your financial brand still wants to grow loans and deposits. We get it. Digital growth can feel confusing, frustrating and overwhelming for any financial brand marketing and sales leader. But it doesn't have thio because James Robert wrote the book that guides you every step of the way along your digital growth journey. Visit www dot digital growth dot com to get a preview of his best selling book, Banking on Digital Growth, or order a copy right Now for you and your team from Amazon. Inside you'll find a strategic marketing manifesto that was written to transform financial brands, and it is packed full of practical and proven insights you can start using today to confidently generate 10 times more loans and deposits. Now back to the show on When you're talking about performance, I can't help but think about clarity and clarity into what, what are the expectations specifically? And I think here about digital transformation and the introduction of new technology, new systems, new processes and how many times they just get thrown into the lap, for example of of lenders. And there's no clear expectation of number one. What are we trying to achieve with this new technology? But But really, the bigger one is. What's the purpose? What's the...

...bigger goal? That this the problem that this new technology is going to solve not only internally but externally. And when there's a lack of clarity that leads to confusion that leads to conflict that leads to chaos? And that zbig reason why? I think, you know, upwards of 80% of digital transformation projects fail. It's not because the technology technology care less technology is just a tool. Digital transformation fails because you we have failed to address the needs of the people, are set the proper expectations, and therefore the people lack the clarity that they need to perform any thoughts from you on on. Just, you know, seeing talking through hearing of digital transformation failures and what could be done to overcome some of those failures. Yes, 100%. So, you know, I think in my role at turnkey lender outside of being able to do these 15 minute podcast is taking a client and and these could be enterprise clients through an evaluation and really on the successful projects that I've seen from the top of the House down from the CEO down, there has been a strategic decision made to execute a strategy that will deploy a digital transformation. And in that perspective, when I have those type of clients present themselves to me, the sales process is very, very easy, right. There's a qualification step. There's a discovery step. There's a summary of finding step. There's a demonstration step and then you know by that by that time frame, they should have made the emotional decision to buy as a seller, right. The technology to your point, it doesn't care. But as a seller, what I think is very, very important is that when you can challenge your client to the reason why are you buying this? What are you going to get out of this? Who is going to be impacted? How are they going to be impacted and what will you ultimately measure R. A y against? I think when you can ask those type of questions very quickly, you understand an organization that knows exactly where it wants to go. If you ask those questions and you get kind of a deer in the headlights reaction. They're not ready yet, and I've loved commission checks. They're big, and Aiken spend them on my family, and I've got, ah, long list of things that I could spend them on. But a lot of times, if they can't answer those questions and you get into implementation, they get lost. The project managers really good about defining expectations, getting that sort of stuff, lining it up, defining the functionary requirements, document you name it. And then once the development starts, the client sees it and they think, Well, oh, I should have this or oh, I should have that. And the wheels come off the project. So really knowing why you're doing what you're doing and how you're doing is critical for project success. So this comes back to a model that I've been doing some recent teaching around. If we're wanting to maximize digital growth or achieve digital transformation, it requires us to act. And that is where we have awareness. Plus, courage will ultimately lead to transformation. If you're lacking the awareness but have the courage, you won't move forward. If you have the courage but lack the awareness. You'll probably move forward, but most likely in the wrong direction. And could it potentially end up back where you start to begin with in the first place? So there's a very specific, almost a step by step process needed of what we'll just call it clarity. First courage, second commitment, third so forth and so on. And when you think...

...about this, this idea and and the conversations that you're having and really seeing and experiencing and guiding others through, you've seen you know a lot of different organizations over the years. How can financial brand leaders overcome their past, where I feel many are stuck to deal with the changes that are happening in the present moment and really eliminate the fears that might be holding them back from the future that they have yet to create? You know, I would answer, You gotta fail fast. I would say You've got to fail as's fastest possible, and what I mean by that right is that growth is not an easy process, right? You stub your toe, you have growing pains. My kids come to me on a regular base and say, Oh, my hip hurts. Oh, my knee hurts. If I gave aspirin out for every single time they came to me, I would be broke. But you know what is important in that perspective is if I'm going to change my organization, I need to make a decision. I need to be confident in my decision, and I need to say, This is how we're going to this kind of how we're going to perform against that decision and if you know, gosh forbid we make a mistake. If we break something, let's look at how it broke. Let's look at why it broke. And let's use that. Let's learn from that to continue forward, right? We're not gonna make you can't make a cake. You can't make an omelet without breaking an egg, right? You've got to go out there. You've got to experience and you got to do it boldly. Yeah, and I was just having this conversation in Episode 67 with Chris Skinner and and we were talking about where some of the most massive changes that we have experienced either a personally or be professionally. They've always have come in the uncomfortable moments, the painful moments of of growth, for that matter. And I love the analogy of your kids, you know? You know, if you gave him an aspirin every time they were hurting, you'd be broken. For me, it's it's band aids. My kids are always coming and saying, Dad, can I have a Band Aid? I'm like It's not even bleeding, but but But you're right. Growth comes through pain change is painful. And that's where you know I want to focus on the fourth p here, which you shared is patience. And patience. For me has been a big personal lesson coming out of co vid, Um and really patients is critical for growth. It's it's never fun. It's It's never easy. It it does require change. Change is painful, but it also requires humility. How can we all gain a bit more patients in a world that seems to demand anything but patients, for that matter? Wow. You know, I don't know if I have enough time to answer that question right now. E. I appreciate that. You know, hard for me to answer that question. What I would say is, I got to speak from the heart. Um, you know patients for me is you know, I have my intentions. I have my goals. I have my desires each and every day that I get out of bed and I have to be patient sometimes because I've got a demonstration coming tomorrow. It's the biggest deal I've done this year, and I've got to execute it. This level I'm not taken into the fact that my brother, who is the solution engineer, has just had a kid, has a brand new baby boy that's not even six months old and probably last night is cleaning up baby poop until three o'clock in the morning. And I'm sorry if that's not supposed to be on your show. But I think patients, patients, that's real life right there with four kids. I've cleaned up plenty, plenty of baby poop at three and four in the morning. Yeah, I mean, patients is is, you know, taking a moment to to appreciate, you know, our fellow brothers and sisters. We're all trying to do this. We're all going in the same direction, and we may not all kind of...

...share or have the same tolerance for the direction that we're going. If you can have a little bit of patience. It just seems to make things ah lot easier for us all. I think that's a great a great just. We'll call it a definition of patients from your perspective. And if I was to synthesize that a little bit, and I could apply that to what I call the four digital growth operating environments you could you could be learning. You can be thinking you can be doing or you can be reviewing and growth requires all four. But it is so easy to get stuck doing digital, whatever that might be from a marketing side of sell side of leadership side. And if I was toe distilled this down. Patience to your point is taking a moment to stop the break free from the doing, to pause, to reflect to review where we've been, what's worked well, what could be made even better. And to really be grateful for the progress that we've made on our own personal journeys of growth on our organizational journeys of growth, which that brings us to the fifth people around this out. This is persistence, and I like what you noted here, you know, coming from the great Pixar film Finding Nemo with Dori. Persistence is Dori, you know, shared over and over and over again to Nemo's father. Just keep swimming, just keep swimming, you know, in we'll call it in the sea of of co vid post co vid chaos that we're all still swimming through. What is the best way for marketing cells and leadership teams to do just that to just keep swimming, to be persistent, to run the good race? Because digital growth is a dirt journey. Digital growth is a marathon, and it is something that does require persistence. How can we apply that thinking? You know, I think I think persistence is continuous message, continuous content, continuous outreach and continuous support of your clients. Right? They may not all need me today. They may not all need me tomorrow, but sooner or later they're going to need me. And if I am not persistent, I may miss an opportunity, right? And that could be from the largest financial institutions in the world, all the way down to the smallest startups. You gotta be persistent, right? You've got to get up every day. You gotta put your messaging out there you gotta put your content out there. You gotta put your passion out there. And sooner or later they're gonna be ready for you. Just gotta be gotta be patient and persistent for that moment, so I can't help but think here. You know, a lot of financial brands will throw up excuses to digital growth of transformation, whether it be regulatory assets size. We don't have the capital, but I'm I hearing you talk through this. I guarantee every single person has the cash that they need to maximize their their own personal growth potential number one, their teams potential number two and their in their organizations. Digital growth potential number three and cash is this. It is knowledge. It is attitude. It is systems. And to this point, right here, persistence. It is habits. And what our habits habits come from your thoughts which inform your actions and your repeatable actions then become the habits and habits create the predictable future. So if we're wanting to transform our organizations, we might have to come back and have some conversations about the habits that we have today. Are they the right habits that that we need to get us to where we're going tomorrow and speaking about tomorrow. What is one thing? If you could just make one recommendation to... cells? Leadership teams One commitment that you could recommend. One habit, if you will, that they could commit to to move forward with courage and confidence on their digital growth journey. What would that habit or that commitment be? Oh, that would commitment would be. Make a much noise, as you possibly can with wrench content each and every day possible content that helps content that guides content that inspires Jeffery. This has been such a great conversation, and I'm grateful for the knowledge and the insight that you've shared just through the conversations that you've had through the discussions on your own. Linked in live. If anyone is listening, they have questions they'd like to connect with. You continue the conversation. What is the best way for them to reach out and say hello to you? You can reach me on Lincoln. You can reach me. I think my cell numbers on my LinkedIn profile as well. If not, it's 5125866564 Feel free to text me. I'm happy to be a resource anytime. Jeffrey, thank you so much for for the knowledge. Thank you for the insights and thank you for joining me on another episode of banking on digital growth. Thank you, James. It's an honor and a privilege to be here. My brother, as always, and until next time be well, do good and wash your hands. Thank you for listening to another episode of banking on Digital Growth with James Robert Ley. Like what you hear. Tell a friend about the podcast and leave us a review on Apple podcasts, Google Podcast or Spotify and subscribe while you're there. To get even more practical in proven insights, visit www dot digital growth dot com to grab a preview of James Roberts bestselling book Banking on Digital Growth or order a copy right now for you and your team from Amazon. Inside, you'll find a strategic marketing and sales blueprint framed around 12 key areas of focus that empower you to confidently generate 10 times more loans and deposits until next time, be well and do good.

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