Banking on Digital Growth
Banking on Digital Growth

Episode · 3 months ago

130) #InsideDigitalGrowth : 3 Keys to Gaining Buy-In for Your Digital Growth Journey


Before you can set sail on your digital growth journey, you need everyone onboard.

For many financial brands, it’s leadership who are afraid to board the ark…

Even as the world they’ve always known floods around them.

In the latest solo episode, Susan, a CMO at a Midwestern financial brand, writes to ask how to get buy-in from such change-resistant leaders and start a digital growth journey toward a better, brighter future.

In this episode, I cover:

- Why leaders cling to what they know — even when they know it’s no longer viable

- The 3 most important first steps on your digital growth journey

- Why digital growth is a mindset, not just a technology purchase

- The value of a 90-day plan

You can find this interview and many more by subscribing to Banking on Digital Growth on Apple Podcasts , on Spotify , or here .

Listening on a desktop & can’t see the links? Just search for Banking on Digital Growth in your favorite podcast player. one of our digital growth book clubs,Susan recently asked how can I get the support from other leaders at ourfinancial brand to commit to a journey of digital growth. This is a greatquestion Susan and one that I look forward to answering for you on today'sepisode of Banking on Digital growth. Mhm You're listening to Banking on digitalgrowth with James robert lay a podcast that empowers financial brand marketing,sales and leadership teams to maximize their digital growth potential bygenerating 10 times more loans and deposits. Today's episode is part ofthe inside Digital Growth series where James robert shares, answers to some ofthe biggest digital marketing and sales questions he gets from the digitalgrowth community. Have a question you want to get answers to on a futureepisode, visit www dot go ask jr dot com to submit your question today. Nowlet's go Inside digital growth greetings and hello I am James robert,ley and welcome to the 130th episode of the Banking on digital Growth podcastwhere I James robert lay your digital anthropologist, commit to continue tocoach and guide you along your digital growth journey as you commit to coachand guide people beyond financial stress towards a bigger, better andbrighter future. Today's episode is part of the inside Digital Growthseries and I look forward to answering a question from Susan, who is the chiefmarketing officer for financial brand in the midwest. Susan was a member in arecent digital growth book club that we hosted where financial brand andFintech leaders from around the world joined us for four weekly conversationsand discussions while also making some really good connections with oneanother. And during one of our sessions,...

Susan asked a great question that thathave been asked many times over the past few years. It's a question to that listeners onthis podcast have asked. And those that have read banking on digital growth,which the book now has almost 100 reviews on Amazon. So If you've readthe book and you're listening to this podcast, I would be grateful if youjust took 30 seconds to go to Amazon, leave a review for the book. Becausethose reviews really do help others find the book which helps them to moveforward along their digital growth journey with courage in confidence. Actually, you know what even better,what I want to do is for the 1st 10 listeners that text book 283-5495792,that's text the word book 283 - 5495792. I'm going to not just send you one copy,but I'm gonna send you and a friend a colleague appear a copy of the book sothat you can read this book and learn together because that's what this isall about learning together. Growing together because growth does not happenin a vacuum. Growth is a communal activity. That requires friends. Itrequires peers, it requires colleagues all working towards creating an evenbigger, better and brighter future together because if we're left alone,we're left to our own devices. It is so easy to get stuck in old patterns andold behaviors and old habits and when we do that we just simply fell to moveforward and make progress. And that's why I am grateful that you're tuninginto today's show because if you're...

...needing to gain support, if you'reneeding to gain buy in from other leaders at your financial brand, maybeeven your Fintech to commit and move forward as a unified team with couragewith confidence. I really think Susan's question is one that we can all learnfrom and once again Susan asked how can I get the support from other leaders atour financial brand to commit to a journey of digital growth? Well, Susan,first off I'm curious, I'm curious to know who these leaders are. Are theywith you alongside and marketing? Are they from cells are they from serviceare they from I. T. Perhaps there from lending, maybe they're from Ops maybethey're on the leadership team because each one of these leaders brings a veryunique perspective that is rooted in their own past experience and that pastexperience is helping to shape their present reality and that presentreality helps to provide a lens into how they see what the future could looklike. Furthermore, it's important to considerSusan, why other leaders on your team are not committed to the digital growthjourney that you want to commit to. Maybe you've already committed to it inyour own mind, but for the others on your team, what's holding them back,what's preventing them from making a commitment to move forward with courageto move forward with confidence. Because from my experience now ofcoaching, Guiding, advising almost 600 financial brands as a digitalanthropologist, those that are not fully committed to digital growth aretypically clinging onto something. Maybe it's a belief um maybe it'shabits, maybe it's a success that is rooted in the past, maybe it's their quote unquoteexpertise that is rooted in the...

...physical world framed around brick andmortar, framed around branches and it's that expertise that's all they know isthe physical world. And so when you start introducing this idea of digitalof digital growth of digital transformation, it's no fault of their own that theytend to be resistant because change is hard, change is painful, Change isscary and we must be empathetic to the fact, particularly now more than everbefore, as growth models are being transformed upside down of moving fromthe physical world to the digital world, people's worlds, their paradigms arealso being flipped and turned upside down and when you flip a person's world,when you turn a person's world upside down, that's making them feel likethey're in some type of a threatening situation. People tend to makeirrational decisions and cling even more to what they know, even when they know what they know isno longer a viable path forward for growth. They cling to what makes themfeel safe, what makes them feel comfortable because everything else isperceived as as a threat of sorts. And that is why I say that alltransformation, all transformation that leads to future growth Must begin withthree things. Susan number one telling the truth, telling the truth aboutwhere you've been, about where you're at and about whereyou can grow next on your own journey of growth and it sounds like Susan you might betelling the truth to yourself,...

...but it's also important to really bringthe truth out from those on your leadership team umand dive deep into that and sit down and just let's have a conversation andand there's no better time than now to do that, Particularly as we've we'vemoved, you know, 18 months more or less through this covid experience. And so we can just simply ask thequestions, where have you been, where are you at and where do you feel like you can grownext or from an organizational standpoint, where have we been, wherewe at, where as an organization could we grow next and be very, very honestwith the answers because sometimes those answers are more telling thanthat. It's just the fact that when you create the space and time to sit downand talk, have a conversation and don't even have a conversation, you lied thisexercise off with some reflective writing because our words that we speak, Thewords that we speak can sometimes mask the truth that we fill with inside. But it's through the act of writingthat we literally do an analog download of sorts. That's where we can downloadour hearts and minds through the pen to paper. And it is in fact on the paper,that is where the truth presents itself. The second point of transformation that leads to futuregrowth is framed around training and education,training and education that provides clarity for a path forward. A path intowhat the future could be and a path forward in the mind of what the futurecould look like because it's through training,education that we help the unaware...

...become aware of what the greatestgrowth opportunities that are available to either create to capture, tocapitalize on because when one is unaware of what those futureopportunities are, they tend to fall into one of the three fears, the fearof the unknown. The fear of change, fear of failure. Technology hastransformed our world and digital has changed the way consumers shop for andbuy financial services forever. Now, consumers make purchase decisions longbefore they walk into a branch if they walk into a branch at all, but yourfinancial brand still wants to grow loans and deposits. We get it. Digitalgrowth can feel confusing, frustrating and overwhelming for any financialbrand, marketing and sales leader, but it doesn't have to because James robertwrote the book that guides you every step of the way along your digitalgrowth journey, visit www dot digital growth dot com to get a preview of hisbest selling book banking on digital growth or order a copy right now foryou and your team from amazon inside you'll find a strategic marketingmanifesto that was written to transform financial brands and it is packed fullof practical and proven insights. You can start using today To confidentlygenerate 10 times more loans and deposits now back to the show and so toaddress first and foremost the fear of the unknown. The fear of the unknowncan be overcome through training and through education. But the challengeSusan is this how much time, how much intentional time or we creating to learn and to gain new knowledge andnew insights, but it's not just the learning and the gaining of newknowledge and insights. It's also the...

...reflection of how those new that newknowledge, Those new insights apply to your financial brand. And so as anotherpractical exercise, one of the things that you can do as a team as aleadership team is to sit down, maybe do it with your marketing team as well.Sit down typically at the end of every week andgo through what did you learn and learning can be found in a couple ofdifferent ways. One of the life's greatest teacher isthat of, of experience, but reflecting on the experiences that you have had,you can also learn from others peers, colleagues, you can learn from reading,you can learn through podcast, but take time to sit down and reflecton what I call the Big Three, the big three key insights that you've gainedover this week's experience, what you've read, what you've seen, whatyou've done, what you've heard. And when you write down those threeinsights expand further on that thinking because once again, knowledgeis great, but if you don't expand further into to the practicality of theknowledge what good is knowledge. So go from key insight one to expanding uponthat into why is this insight important to you, to your team, to your financialbrand, to your unique situation. So what did you learn, why is thisimportant? And then begin to expand that thinking even further? How can you apply this? How can youapply this thinking as you go forward? And it doesn't have to be a deep dive,but it's just to start planting some seeds into the next best steps basedupon the knowledge that you've gained, because there is a vast chasm, there'sa vast difference between knowing on... side of the equation and growing onthe other and that brings us really here to point number three, which pointnumber one in brief review was telling the truth. Point number two fortransformation is training, education. Point number three is this thinkingdeeply do not just jump in and start doing andI see so many financial brands have done that historically when it comes todigital digital growth digital transformation, we just do do do do doand we only create space and time to really think once a year the thinkingmust be built into the operational model for marketing, four cells forapps for I. T. For finance, for lending, for leadership. Even because when youthink deeply you take the insights that you learn and you begin to formulatethem into a plan of action. Now my recommendation when youformulate a plan of action as we've learned through the covid experience,it's not just a plan of action that should take, you know, give you ahorizon line of 3 to 5 years, Shrine that plan of action down to 12,maybe 18 months even more. Consider trimming that plan of action down Tojust 90 days. I think there's a lot that we can learn when we look atnature. Nature runs on a 90 day cycle. But why is organizations, why have welooked at running on a three to a five year cycle? What if we actuallyoperated more like Nature? Nature runs on 90 day cycles there before you getthe four seasons. If we bring that back into our organizations to our teams,even to ourselves, we can stop doing...

...pause Refirement on what we've doneover the previous 90 days, through that reflection process, we can then learnfrom the experience, gained those key insights gained that knowledge And thenthink about how those key insights can be applied going forward into the next90 day growth growth planned. And as you go through this 90 daygrowth Process, this 90 day growth method, it is a way to guarantee that you yourteam, your organization will make continuous progress Every single 90days and as you make continuous progress, you reflect on where you'vebeen, not on where your you must go over the next 90 days, you reflect onwhere you've been and it's through that reflection that increases yourconfidence which then further builds your courage to commit to move forwardover the next 90 days. And as you move forward over the next90 days, what do you do? You learn? You reflect? You think and then you do even better.You see digital growth and even digital transformation for that matter really has nothing to do at all withtechnology, but technology is where so much of theconversation has been, Technology is just a tool, tools will continue tochange, but it's it's the mind, it's themindset, it's the most powerful computer, if you will, thesupercomputer on planet earth that provides the greatest opportunity for afinancial brand to maximize their... growth potential. Just focusingon technology, It's the reason that 60-85% of all digital transformationprojects fail. But when we focus on the mind in transforming the mind of theindividual, the self the team and then the organization, we can trulytransform the lives of people in the communities that are financial brandserves. But when you try to take technology and shove it into theorganizational level and teams don't understand why this technology is beingutilized and then yet alone teams, teams are made up of individuals,that's where the conflict rises, that's where the chaos begins to take rootbecause of complexity. But when we look At a 90 day growth method to learn tothink to do review it is one of the best ways that we can begin to gain buyin from others internally because Built in or those three threekey steps for transformation. Number one telling the truth about whereyou've been, where you're at, where you can grow next on your own journey.Number two, getting the training education that provides you withclarity and a path forward to help the unaware become aware of the greatestopportunities available for you to either create, capture, capitalize onand when you when you provide that clarity begins to help them break freefrom the fear of the unknown, the fear of change, the fear of failure And thenumber three thinking deeply, not just jumping in and doing, but thinkingdeeply, taking time to distill down the insights to that to reflect on whatyou've learned to formulate a 90 day growth plan that will empower you andyour team to continue to move forward together with courage and withconfidence.

If you have a question like Susan, I'mcurious to know what's on your mind, what's on your mind right now, whatquestions might you have that I could help provide you with clarity around. Please do text your biggest digitalmarketing cells or leadership questions. You have 283-5495792 and I would love to have you on as aguest of the show to talk through those questions together as part of ourclarity calls series To do one thing to just provide you with clarity toempower you, to guide you to guide your financial brand, your Fintech fordalong your own digital growth journey and to do it with courage to do it withconfidence as always and until next time be well do good and make your bed. Thank you for listening to anotherepisode of banking on digital growth with James robert. Ley like what youhear, tell a friend about the podcast and leave us a review on apple podcasts,google podcasts or Spotify and subscribe while you're there to geteven more practical improvement insights visit www dot digital growthdot com to grab a preview of James roberts best selling book banking ondigital growth, or order a copy right now for you and your team from amazoninside, you'll find a strategic marketing and sales blueprint framedaround 12 key areas of focus That empower you to confidently generate 10times more loans and deposits until next time, be well and do good.

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