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Patrick K. Adams St. Louis Community CU. Status Quo Is Quazy Talk!!!!. The Ultimate Goal. A Leap In Value Rapidly Earns Buzz & Loyalty… And Dare We Say Growth. Create A “LEAP” In Value. L---------Love The Idea E---------Energy Is Key A---------Audacity Shakes The Tree

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Status quo is quazy talk

Patrick K. Adams

St. Louis Community CU

Status Quo Is Quazy Talk!!!!


The ultimate goal
The Ultimate Goal

A Leap In Value Rapidly Earns Buzz & Loyalty… And Dare We Say Growth.


Create a leap in value
Create A “LEAP” In Value

  • L---------Love The Idea

  • E---------Energy Is Key

  • A---------Audacity Shakes The Tree

  • P---------Possibilities Are Present


Status quo is quazy talk

GROWTH

SCALABLE ADVANTAGE

RETURN TO MEMBER LABOR OPPORTUNITIES

COMPETITIVE POSITION

LONG TERM SURVIVAL

WE HAVE ESTABLISHED INFRASTRUCTURE

NEED TO DRIVE MORE BIZ THROUGH IT!



Strategic inflection point
Strategic Inflection Point

  • Avoid The “Uh-Oh” Point


The market is crowded we look like everybody else
The Market Is Crowded & We Look Like Everybody Else…

  • Competition

  • Commoditization

  • Consolidation

  • Consumer View

  • Contracting Market

  • Competition vs Consumer

    Tastes Like Chicken Is Not A Compliment


In a crowded market
In A Crowded Market…

  • Profits Reduce

  • Growth Stymies

    If supply is exceeding demand, then we are competing for market share that is contracting.


A new logic
A New Logic

We Have To Innovate Our “Value Proposition”

  • Growth & Prosperity Comes From Innovation

  • Innovation Is Foundation For Success


We can either compete
We Can Either Compete…

In A Shrinking Venue

OR

By Beating Somebody To Survive

OR

Finding A New Venue With No Competition

Stop Benchmarking To Competition!!!


Credit union vs banks
CREDIT UNIONVS BANKS

HIGH

BANK

BANK

BANK

BANK

BANK

CU

CU

BOTH

BANK

BANK

CU

CU

CU

CU

CU

LOW

PRICE

SERVICE

MICRO BIZ SERVICES

Youth

ON-LINE

BIZ SERVICES

Products

BRAND

ADVERTISING

CAUSE

EDUCATION

BM VISIBILITY

CONVENIENCE

ALTERNATIVE FIN. SERVICES

NCB Partnerships

NAME RECOGNITION


Great big ideas
Great BIG Ideas!!!!

I. People Before Profit

II. Service On Steroids

III. Opportunities To Grow The Biz

IV. Don’t Be Satisfied With Satisfied


I people before profit
I. People Before Profit

  • Culture Eats Strategy For Breakfast

  • Commit To Your Value Discipline

  • Identify Your “A” Players

  • Embrace Creativity, Risk-taking, Problem Solving & Fun


Identify your value discipline
Identify Your Value Discipline…

  • Are We Product Driven?

  • Are We Operationally Driven?

  • Is It About Service Intimacy?

    Successful Companies Are Great At One Thing


Mission statement vs battle cry

Mission StatementvsBattle Cry


Know who drives the bus
Know Who Drives The Bus

  • “A” Players

  • Strong Orientation

  • Ownership

  • Why vs What?

  • Role As Brand Leader


Embrace change
Embrace Change

  • Promote Creativity

  • Don’t Be A Sissy Baby

  • Have A Kid’s Spirit


Ii service on steroids
II. Service On Steroids

  • Do A “GAP” Analysis

  • Understand The View From The Member’s Perspective

  • Pricing, Policies, Processes, Products

  • Build Relationships---Stop Processing Transactions


Brand
Brand

Business Silos Brought Together


Status quo is quazy talk

Member Expectations

Close Gaps

Close Gaps

CU Deliverable

CU Promise

Close Gaps


Iii opportunities to grow the biz
III.Opportunities To Grow The Biz

  • Find New Markets

  • Understand The Consumption Continuum

  • Identify Life Stage Opportunities

  • Embrace Lifetime Value


Re orient your organization
Re-Orient Your Organization

  • Change From…

    A. Competitors to Alternatives

    B. Members to Non-Members

    Forces Credit Union To Re-define Member Value


Great big idea
Great Big Idea!!!!

Identify Your Non-Customers and…

Build On The Powerful Commonalities Of What Buyers Value


Three tiers of non memberss
Three Tiers Of Non-Memberss

  • Close To You…Cognitive Level Of Loyalty

  • Refuse To Use You…Unacceptable Offerings

  • Never Thought Of You As An Option…Assumed They Belonged Elsewhere

    Go With The One That Provides You The Greatest Amount Of Potential

    Make Sure You’re Profitable & Sustainable


Status quo is quazy talk

First Second Third

Tier Tier Tier

Your

Market


Iv don t be satisfied with satisfied
IV. Don’t Be Satisfied With Satisfied

  • Optimize The Loyalty Level

  • Teach The Increasing Returns Biz Model


Loyalty brand integration
Loyalty/Brand Integration

Hard to imitate

Hard to deliver

Most meaningful

“Lifers”

Emotional/Spiritual/

“The Thing To do”

Make it Personal

Both functional & emotional …benefits are readily visible

Easy to deliver

Easy to lose

Easy to imitate

The power of translation…

Feature to benefit


Increasing returns business model
Increasing Returns Business Model…

The More Solutions…The More You Know

The More You Know…The Easier It Is The More Services…The More Loyal

The More Loyal…The Longer They Stay

The Longer They Stay…The More Chances

The More Needs Met…The Higher The ROA