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Archive for the ‘Market Insights News’ Category

Like all of our work at Market Insights, our blog is constantly evolving.

We first launched a Market Insights blog four years ago.  Initially, our blog was called Grow Your Bank and was hosted using the Blogger platform.  Two years later, after we had a better idea of how we wanted to use our blog to share our ideas and insights, we migrated our blog over to WordPress and gave it a more appropriate name: Market Insights Insider.

Today, we’re moving forward with another important change.

In an effort to make information easier to share and find, we’ve integrated our blog into the Market Insights website.  In the process, we’ve redesigned our company site as well.  This effort reflects the promise made in our tagline: dedicated to helping you grow. Writing blog posts on a routine basis about relevant topics is one way we continue to demonstrate our commitment to helping community banks and credit unions remain relevant and grow in today’s dynamic marketplace.

We hope that this new format allows us to deliver more frequent posts, share more insights, and prompt more conversations about the latest happenings in the financial services industry.  You can find our new blog at:

www.formarketinsights.com/blog

Please take some time to check it out.  And don’t forget to subscribe to our new RSS Feed for blog updates.  If you’ve listed our blog in your blogroll, please change your link to the new web address.

Thank you for following along.  We hope you continue to follow us as we move forward with this exciting next step.

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The March issue of ABA’s Bank Marketing Magazine hits the shelves today – complete with a feature article co-authored by Joe Sullivan, CEO of Market Insights and Jeff Stephens, CEO of Creative Brand Communications.   The article highlights the transformation of First National Bank of Mexia (Mexia, TX) to Incommons Bank– in an effort to align the Bank’s brand strengths with its market opportunities.  

If you have a subscription to Bank Marketing, check it out here.

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It isn’t easy being a bank or credit union today. Institutions are faced with a series of increasingly pressing challenges – from aggressive competition and shifting demographic characteristics, to changing consumer behaviors and the impact of commoditization within the industry. These challenges are complex; and they require that banks and credit unions think differently about their markets, their brands, and how each impacts their strategies for growth.Recognizing these challenges, and the impact they have on today’s financial institutions, has prompted us to partner with

Creative Brand Communications to offer banks and credit unions a new service called Own Your Market. Over the past few months, we’ve worked together to help a group of institutions take the first steps towards owning their markets. And today, we’re pleased to announce the formal launch of the new service for banks and credit unions.Own Your Market is an innovative service to help forward-thinking financial institutions align market opportunities with brand strengths to develop market dominance. It is designed to help institutions:

· Understand their markets and their opportunities in those markets
· Create a brand that is relevant to their markets
· Position themselves for competitive advantage
· Convey value added through the customer experience

For more information about Own Your Market, please visit

www.ownyourmarket.net

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Today’s issue of the Credit Union Times features an article Gen Y Entrepreneurs Shake up CU Industry, Helping to Reveal Authenticity – and, while I am not technically an entrepreneur, I am grateful to have been included alongside four other twentysomethings who are working to shake up the financial services industry.

The article offers a glimpse of what each of us are seeing out there in the industry. And, not surprisingly, there are some consistent points made by the five of us throughout the article:

  • If you want to be successful targeting Generation Y, you have to be authentic – this includes everything from your brand to your messages; from your people to your customer experience.

  • Technology is already reshaping the industry – from delivery channels to marketing to communications. And, today’s successful institutions will be those that can discern between the technologies that are relevant to their businesses and their markets, and those that are simply the latest hot trend.
  • People – today’s institutions need to recognize the value of Generation Y employees’ perspectives. Staying relevant to younger customers and members requires the input and direction from their peers – ask your younger employees what they think, and listen to them.

As consultants, writers, and speakers, the five of us will undoubtedly continue to shake up the industry this year. Please feel free to contact me with any questions about marketing to Generation Y; and, if you haven’t already, check out the other four members of Gen Y featured in the article that are shaking up the industry:

Jeff Stephens – Creative Brand Communications

Brad Garland – The Garland Group

Matt Dean – Trabian

Bryan Simms – Brass Media

 

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On behalf of everyone at Market Insights, we hope you enjoyed the holidays and are ready to make 2008 a great year. We know that many of 2007’s challenges will follow financial institutions into 2008, but we’re also keeping a pulse on many other issues that are gaining traction and having a greater impact on today’s institutions; we’re looking forward to incorporating these issues into our presentations this year and discussing them in upcoming blog entries.

As we look ahead to the coming months, we’re excited to have been invited to share our insights at several conferences with a variety of associations (and we like the fact that many of them are close to our Chicago office).Please check out our updated presentation calendar and stay tuned as we work to put together a new series of presentations and educational sessions for the new year.

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Our team has delivered quite a few presentations to various financial services organizations this year; and, we pleased to share with you a new series of hot topics that we feel addresses some of the most pressing issues facing today’s financial services executives and marketers.

These topics have been greatly influenced by our observation that there is an industry-wide tendency to conduct business as usual, and are designed to challenge our audiences to step out of their comfort zones and think differently about a variety of issues. The topics include:

  • Three Characteristics of High-Performance Institutions
    Understand your market; Differentiate from the Competition; and encourage a culture of Leadership
  • The Magic of Internal Marketing
    The importance of involving your entire team in your marketing initiatives
  • Training Your CEO
    Bridging the gap between marketing and the senior management team
  • Reaching In or Branching Out
    Identifying the most viable means of growth for your institution
  • The Great Demographic Divide
    A boomer’s guide to attracting younger employees and customers
  • Leadership is not About Job Title
    The importance of leadership and innovation at all levels within your institution
  • Change Your Mindset
    If you want different results, you have to think differently

See full session descriptions here

Please check out our calendar of events periodically, as we will be scheduling these and other presentations for the coming year. As always, if you have any questions about these topics or would like to suggest an additional topic that you think we should explore, please let us know.

 

 

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This month’s Community Banker Magazine is accompanied by a supplement featuring articles from service providers considered to be innovation leaders in financial services. Market Insights has a well-earned reputation for promoting change and innovation in the financial services industry; so we were both flattered and pleased when we were asked to contribute to the supplement.When developing the article, we tossed a few ideas around and realized that the most pressing issue facing today’s financial services industry is the reliance on doing business as usual and the need to approach issues with a different mindset. And, as the title of the article suggests – if you want different results, you have to think differently.

While the article stresses the concept of approaching today’s complex issues with a different mindset, we feel it’s equally important to provide you with practical examples and ideas of what thoughts and behaviors you can shift. We also want to demonstrate how changing your mindset can actually impact bottom-line results at your institution.

So, we developed a list of the top 20 ways you can change your mindset. Our team will post one reason, example or idea every day in June on our blog. While we realize that there are more than 20 issues that should be approached with a different mindset, we feel that these 20 are the most pressing, widespread and worth bringing to your attention. Let us know what you think.

To request a reprint of the article Change Your MindsetIf you want different results, you have to think differently, contact me at bwalen@formarketinsights.com

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