Banking on Digital Growth
Banking on Digital Growth

Episode · 3 months ago

121) #ClarityCalls: Transform Your Marketing Team for Personalized Content

ABOUT THIS EPISODE

How do marketing teams and their supporting departments need to transform to have an infrastructure conducive to one-to-few communication?

That question comes from today’s guest, Bradley Blue , Vice President, Digital Marketing at Logix Federal Credit Union , and in this episode, I go over exactly what it takes, including:

How to overcome the difficulty of creating content operations

How to be proactive while retaining the ability to be reactive 

How to make sure your technology helps you achieve your marketing goals

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.

...today's episode is part of the newclarity call series and I'm excited to answer a great question from BradleyBlue about personalization that will empower you and your financial brand tomaximize your future digital growth potential. You're listening to bankingon digital growth. With James robert lay a podcast that empowers financialbrand marketing, sales and leadership teams to maximize their digital growthpotential by generating 10 times more loans and deposits. Today's episode ispart of the clarity call series where James roberts sits down for aconversation with someone in the digital growth community to provideclarity into the biggest digital marketing sales and leadershipquestions others have. If you'd like to join James robert for a futureconversation, Texture question right now 83-5495 792. Let's get into today'sclarity calls conversation greetings and hello, I am James robert, ley andwelcome to the 121st episode of the banking on digital growth podcast.Today's episode is part of the clarity call series and I'm excited to welcomeBradley Blue to the show brad is the vice president of digital Marketing atLogics Federal Credit Union and he has a great question about personalizationthat we are going to talk through together. Welcome to the show brad isgood to have you today. Great to be here. James robert. Thanks so much forhaving me before we get into your question, which is a really good one.It's an important one. I want to just start things off on a positive note ofwhat you are excited about right now. What's giving you energy personallyprofessionally, your pick go all right, I'm gonna go with the personal one thatkind of leads into professional and it's a, it's happening right now. Soduring the pandemic, my two year old boy and especially my six year old girl,Sammy and Penny have gotten super into podcasts and they've been asking ifthey can have their own podcasts and I think they'll here, I think they'llthink it's super cool that their dad is on one and saying their name and makingthem a little bit famous. So thanks for thanks again for having me on. Wellshout out to both of them and I think that is super cool. My kids have gottenreally big into Youtube now and they're asking to do the same thing like aYoutube series. So I think what an exciting time for our kids to begrowing up in and having experiences that, I mean, I was probably dabblingwith the stuff back and was it like 95 96 when the internet was like, it's amajor infancy of building connections and using the digital and the internetto communicate, but never with this type of reach and expansion. Um, soit's, it is neat, it is really neat and you ask a really good question Aboutwhere things are, where we can go to provide clarity to the dear listenerwho is now just for context is in over one of 120 different countries Aroundthe world. And if you flash back from 95, to where we're at today. Once again,it's there's that multiplying reach of digital uh to to help educate, to helpempower marketing team sells teams, leadership teams. And the question youask is this we all dream about personalizing our communications torecipients, gradually moving from one too many To one. Too few 1-1. Andthere's a lot of focus on the tools to help us get there. But you want to talkmore about the people that help us get there because a campaign designed toreach one million people takes the same amount of time to develop, execute,review and optimized as a campaign to reach 100 people. And the question youask is how do marketing teams and their supporting departments need totransform to have an infrastructure can conducive to one too few communications.So can you set some context of this, of...

...where you're thinking is and what mightsome of the roadblocks and challenges be here for you right now? Sure. And thanks so much forentertaining the question. Uh what led to it is we have an initiative atlogics right now uh to bring on a personalization platform because we'veseen with things like emails and personalized pop ups and online banking,how effective they are as compared to just a blast email, I think that's justface value, it's going to be more effective when you're talking to oneperson about something that's highly applicable to their lives and you'renot standing everybody else. So when you do have something happened witheveryone else's lives, you're gonna be more likely to open it and appreciatewhat you're sending them. Hold your organization in high regard. So we gotvery big into that probably, I don't know, seven or eight years ago now. Andevery single year since then, the amount of emails we've sent out Hasincreased by at least 10%, sometimes by as much as 100%. And also my myfavorite stat to share is that are open rates have gone us at the same ratebecause we're sending out more emails were sending out more personalizedemails and so we're just seeing a huge amount of value in personalizing thesecommunications and really not just for us, but I think for all credit unionsand small financial brands, that's uh if you're in a growth phase whereyou're sort of getting to feel like you're big, it's probably becauseyou're really good at being the little guy and having those personalizedcommunications right there in the branch where you can learn somethingabout somebody um and and find something that you've got to offer themthat's right in line with their needs. So we started doing that. But theproblem is again, we're sometimes doubling the amount of emails weresending out. and then we've got all these different touchpoints now with anonline banking, we have two different personalized touch points, you've gotuh touch points increasing exponentially, you've got the messagesthemselves increasing exponentially. And as you rightly mentioned, it takesthe exact same amount of time, develop an email for a million people as itdoes for really one person. Uh and sometimes even more because you'retrying to talk specifically to that person. And then there's the otherelements of the marketing cycle, like the review process, um and going backin and optimizing it, finding out what happened because of that, we're findingeight years ago we had one person working email and now we have twopeople working email, but we're sending out 10 times as many emails. Uh back in2015 we had one person that was running all the personalized communications andonline banking plus a whole bunch of other stuff and now we really had tojust sort of put on the brakes with any of that because we just don't haveenough people to develop it. So with this personalization platform we'redeveloping, we're trying to figure out how to staff for it because we do, whatwe definitely don't want to do is bring on a fancy new tool and marketing cloudand then not have anyone that either knows how to operate it or have theactual time to operate it. Yeah, so let me ask you a follow up question, causethat's great context there and and it really shows the power ofpersonalization and and if I could sounds like you've been piloting,you've been experimenting and you you see the benefit but to then get thescalability that is potential of of deploying this thinking content contentis going to be the fuel of this engine. And I can tell you dozens of times thatI've worked with a financial brand and they have the technology, they have theautomation platform and it doesn't matter what flavor it is, it could behubspot sells force Marcato, I'm not so...

...interested in that. It's more of theinfrastructure, the processes, the systems that are deployed behind thescenes to then leverage the technology, multiplying everything once again, as Imentioned before, kind of like for example this podcast, when when youthink about your team managing email, what does the content infrastructurelook like from say, a production standpoint because it's going to ifyou're going to scale email or personalized communication, whetherit's behind online banking, mobile banking, email, even the possibility ofadding uh text, um even um uh direct mail, handwritten messages via ai umwhich is a whole interesting phenomenon in and of itself it's kind of taking astep back of automating email, but now we can automate handwritten messages,that's a whole new optimization for personalization, what does the contentinfrastructure look like as it stands today, you know right now, I would say that itprobably is, it's not keeping up with the needs on the technological sidewhen we bring in new people to help. It's it's mostly um it mostly has to do with the toolswe're using and the content is developed pretty much the same way italways has been. And it adds a lot of stress to everybody involved thatyou're, you've got your touch point leaders. So say the people on ourpayments team, just use an example one email, they're giving us a few bulletpoints which will design the copy around. But we at this time don't havesomebody to write that copy that is separate from the person to set up theemail that's separate from the person to plug in the data separate from theperson to review. It is all just kind of one person and now two people, sowe're using some of our touch point leads to do something that they're notsuper accustomed to, which is review marketing material. Uh and we've gotpeople who are experts with our email system who may not be experts incopyrighting. Unfortunately for us, I think that the two people we've gotdoing that are quite talented when it comes to writing copy and we do haveassistance from other areas of the department. But As of this time, wedon't have a specialist that's just in charge of writing that individualizedcopy and and it is a big stress for the whole department. So so immediatelyclass 10 from the Digital Growth University pops top of my mind becauseit really is around what what I would call content operations. And there arefour areas here to consider to systematize and operationalize and likewhat is content marketing because it's a word that gets thrown around a lot.It's very similar to the definition of digital growth, well defined systemsand processes to to plan, produce and then promote content that helps firstand sell second, doesn't matter what the medium or the channel is, but it'sthe operational side of planning, production and promotion. And so thoseare the three piece to consider from a talent standpoint. We need people toplan. Um And so that is where for example your subject matter experts aregoing to come into play. So there's a marketing and a sme alignment.Marketing can interview these because they might not have the confidence tobe the copywriter. But if we can have that interview like approach internallythen it helps to build that confidence and transfer knowledge from their headinto we'll call it a database of sorts or a content repository. And I'm gonnacome back to that point here in a moment. # two we have the productionside. So that's going to be dependent...

...probably more on the channel or thetype of the medium of content being produced. Um And that can get put intoa content repository and then we have the promotion side. So that's gonna bemore channel specific, whether it's email, whether it's add base wherethose as being placed and then we need to add 1/4 P into this though. UmThat's the the performance, how is this performing coming back and pausing toreview what is working well, what could be made even better? What do we need todo more of, what do we need to stop doing all together? And as you thinkthrough this, that's where the mind starts to go. That's a lot of contentand you're right, it is. And so the habit, if you will of a business linecoming to marketing, typically last minute saying, hey, we need to get thiscommunication out that has to transform in and of itself because that type ofbehavior is not scalable, It's always going to create and put a marketingteam in a reactive state. Marketing needs to get ahead and be in aproactive state. And so when you think about content and communicationregardless, once again, a medium coming back to the idea of a repository ofsorts um inventory, content inventory orcontent assets that are evergreen in nature that are independent of thetraditional campaign but can be pulled off of a shelf and then plug and playwhenever you need to drive some type of top of funnel awareness, puttingsomeone into a funnel, moving them down, those assets and inventory are alreadyavailable so that it's no longer reactionary, It's pro action. Um and ittakes time. And so where do you stand in regards to content assets that areevergreen for different product lines? You make such an interesting point thatI don't want to divert too much from your main question. But one thing wethink about all the time is uh, we do here being proactive all the time is agreat way to get ahead as a marketing department and as an organization. ButI think particularly for smaller, uh financial institutions, our ability tobe reactive to respond within days or even hours to request from internalstakeholders, really what gives us a competitive advantage. You know, wedon't have this massive ship to move like a uh, you know, one of the bigfour banks where somebody can't just reach out to the marketing person thatthey know by name and say, hey, I would love to send this out and the marketingteam can do it. And so one of the things that I really appreciate aboutour organization is we do place a high value on being reactive. Um and justgetting ahead of things that other organizations might not be able to getahead of, but that said, um if we're spending all of our time doing that,then you're spending none of your time being proactive. But I really do likethe idea very much of having a repository like you mentioned ofcontent that you can reach into and grab from. And maybe it's somethingthat's proactive, maybe using that content in an automation that'severgreen or maybe it's just something where one of your internal stakeholdersreaches out and says, hey, I need this and you know, to send out by tomorrow,can you do it? But you're not reaching out to a designer to a copywriteretcetera and saying, Annie this brand new stuff, you've got a great biglibrary of things you can use. I would say that we right now when it comes tothat are probably when it comes to design elements, maybe a um maybe afour out of 10 and when it comes to copy, really pretty much every piece asbeing uniquely written, and that's that's a place where we really couldstand to invest a little bit of time and energy technology has transformedour world and digital has changed the...

...way consumers shop for and buyfinancial 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. Yes. And and to your point of of beingreactionary and being able to react to market conditions, definitely creatingcapacity to have that time. Um, I can think of two examples recently um onewas Wells Fargo announced that they were going to do away with personalloans. Great opportunity to go into the market and, and, and, and, and look forexample pulled data to see where who, who might be because your credit andwho might be members that have some type of automatic payment orrelationship with Wells Fargo. And then we can send them a specific directmessage, quote, unquote email or placing it behind the pen and onlinebanking that taps into that particular pain point and saying, hey, we're gonnabe here for you. So that's a reactionary opportunity number two, Isee for example, like with chime um you know, there's a lot chimes in theheadlines now that there digital only play is actually creating some conflictfor account holders who need to get in touch with another human being. Sothat's another opportunity to use kind of what's going on in the real world inreal time, but having some of these assets in the background for what Iwould call the larger, um, vertical product lines, checking mortgage,credit cards, personal loans, some of the small business, That's a great wayand it's a multi-year process. Uh, I can think of one organization who hasspent the last five years building out assets and inventory that are now atthis point literally plug and play to where one created almost $10 milliondollars in loan revenue and the time for marketing to, to kind of come inand dust off the, the asset, do a little bit of optimization, update someof the messaging, but it was nominal compared to the behaviors that theywere in before. But it takes organizational and cultural buying fromall the different product lines internally to say, hey, we're notignoring you. We need to collaborate and work together on this and here'sthe long term value. I think the other interesting thing and this has comefrom conversations I've had over the last 3-6 months with automation playersin the Space Martek and sells tech. If marketing can create an inventory orrepository of messages. Now we can empower the business line, whether itbe a manager or someone more boots on the ground, a loan officer to that theycan come and pull automatically approved or marketing approvedcommunication and send that out now at a 1 to 1 level. Um, so it's not relyingon the automation from marketing, but it's more of sells enablement to wherecells can say, okay, I just talked to someone about um, a personal loan, I gointo my acid inventory library, I pull...

...out the personal loan collateralelectronically boom email done like I literally don't have to do anything.It's automatically set ready to go because I do see there's a pain pointfrom a lot of the diagnostic work that we're doing is cells in something butthe messaging is off the tone. Even the formatting of the email, um, and thelarger you get in the organization, the more complex that becomes now, it'syour empowering these cells, team members, these lenders to give them thetools to continue to communicate that knowledge that we have internally, butin a much more unified manner. Yeah. You know what, we've seen that a lotJames robert is with our real estate loan officers and social media pages.Uh, they want to have an active social media presence and they want to beproviding content to uh, the people that are going to benefit from it. Butyou know, most of them didn't go into that business because they excel atcopyrighting for example, and some of them are quite good, but for the mostpart, I think what they really benefit from is having a lot of, and alsocompliance approved, which is something that we haven't covered here, uh,compliance proved approved branded content that they can send out theremaybe with a little, uh, you know, snippet with their own voice, butsomething where they can just post it and go on with their day and that'sbeen requested of us multiple times. And it's just one of those things whereuh, you know, there are so many different requests coming in for somany different things. We haven't been able to supply them with that as muchas we like to. And I suspect that a great many of your listeners areprobably having similar problems. It's the next level up that I say isgoing to really drive marketing. It's the micro is gonna beat the mass overthe next 3 to 5 years. I really feel like with everything that's going on inthe inbox and with digital ads and with privacy, we're gonna have to startreally empowering the cells team to be more of a marketing channel of one thatthen it can influence their personal network. That's where personal brandingand, and they don't have that experience. Well who has experiencewith branding, marketing does. So marketing becomes the internal coach tobuild these personal brand channels of one to go out and become a microinfluencer. Maybe it's 100 maybe it's 1000 maybe it's 10,000. I'm not talkingabout influencer on a level on a scale of a million people. Although jenniferBeeston, who was a guest on the show mortgage lender, she's going to Youtubeaudience of about 20,000 people, but in 43 or four years she has almost fivemillion views on her individual personal youtube channel, simplyanswering the questions that people have about buying a home and it'spropelled her to become a nation, top nations, top 1% lender. So to me that'skind of where the next level up is. We're still in round one first inning,but to me with privacy with data, um, who knows? I mean like the IOS 15update coming out now where we're not going to get tracking of open rates inapple mel anymore. Uh, we're gonna, it's almost apple mel is gonna becomelike what direct mail was, you know, uh, 10 years ago, 20 years ago, we're notgonna have that visibility. So this is, this has been a lot of fun and I alwayslike connecting people, um, you know, when we have these conversations andsomeone is listening there, like I'm working on what, what brad's working on,I want to connect with brad, what's the best way for someone to reach out andconnect with you and say hello brad. Oh, please go find me on linkedin. I'm theVP of digital marketing at logics federal Credit union, you can alsoemail me at the blue at lFc dot com and uh, I love to have these conversationsand once again sure appreciate the...

...opportunity to have it with you Jamesrubber. Absolutely thank you so much for joining me on another episode ofbanking on digital growth brad. And if anyone is listening they have a digitalmarketing, a cell's leadership question. Text me the question that you'd like toget some clarity on 83-5495792. And I look forward to talking through ittogether with you on a future episode until then and as always be well, dogood and make your bed. Thank you for listening to another episode of bankingon digital growth with James robert. Ley. Like what you hear, tell a friendabout the podcast and leave us a review on apple podcasts, google podcasts orSpotify and subscribe while you're there to get even more practicalimprovement insights, visit www dot digital growth dot com. To grab apreview of James roberts, best selling book banking on digital growth Or ordera copy right now for you and your team from Amazon inside you'll find astrategic marketing and sales blueprint framed around 12 key areas of focusthat Empower you to confidently generate 10 times more loans anddeposits until next time be well and do good. Yeah.

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