Banking on Digital Growth

We're seeing a clear split between those who've grown up with the internet at their fingertips and those for whom digital tech is a learned skill. This divide is particularly noticeable in areas like social media and finance, where traditional approaches clash with digital expectations, leading to a disconnect in communication and service usage.

To bridge this gap, it's essential to explore the roots of these differences. Understanding the evolution of technology and its impact on various generations can guide us in developing strategies that resonate across age groups.

Join us as we discuss:

-Digital banking for Gen Z and millennials (6:38)

-Financial brand leadership and digital natives (13:09)

-Financial brands' social media presence and marketing strategies (19:48)

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

Financial brands face a critical issue with account holder retention, struggling to maintain the accounts they work hard to acquire, if they are even aware they have a problem. Banks and credit unions invest heavily in acquisition efforts, only to see their gains erode due to poor retention practices.

Kelly Chambers, content strategist and writer, believes that by prioritizing personalized, relevant content and services, financial brands can transform into trusted experts, fostering a sense of loyalty and satisfaction among their customers. This shift towards valuing retention as much as acquisition, coupled with a continuous adaptation to customer feedback, is crucial for cultivating long-term relationships and achieving sustainable growth.

Join us as we discuss:

-Financial brand expectations and retention strategies (4:55)

-Financial brand gaps in digital consumer journeys (19:06)

-Optimizing account holder retention strategies through data-driven insights (31:14)

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

When you think of the term "discipline," what comes to mind? Is it a constraint or a catalyst for growth? Particularly in challenging times, discipline might be the key for financial brand leaders to elevate themselves, their teams, and their organizations.

In this episode of the #BehindTheCover series, we Audrey Cannata and I explore "Discipline is Destiny: The Power of Self-Control" by Ryan Holiday, a recommended read for leaders aiming to unlock growth and freedom, not only for themselves but also for those they serve in their financial journeys. Join us as we uncover the pivotal role of discipline in navigating both personal and professional spheres.

Join us as we discuss:

-Self-control and fulfillment in a distracted world (2:12)

-Discipline, attention, and financial freedom (16:43)

-Community, accountability, and personal growth (40:29)

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

Storytelling goes beyond just entertainment; it can truly change people. This power isn't just for leadership and personal growth but also helps motivate teams and bring about change in organizations.

Joe Byerly, an active-duty Army lieutenant colonel and the mind behind "From the Green Notebook," discusses how understanding and leveraging the art of storytelling can lead to exponential personal and organizational growth.

This episode is a treasure trove for anyone looking to enhance their storytelling skills, understand their personal narrative better, and use it to lead with authenticity and impact. Whether you're leading a team, building your career, or just love a good story, there's something in this episode for you.

Join us as we discuss:

-Leadership, self-development, and the power of storytelling (7:15)

-Bridging logic and emotion in institutional change (17:24)

-Prioritizing learning and growth for leaders (42:59)

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

Facing the challenge of a race, whether in athletics or in the competitive financial industry, requires more than just showing up. Without a solid strategy, you're merely running without direction, risking not achieving your full potential in both physical races and financial growth.

Just as athletes wouldn't dream of tackling a marathon without comprehensive training, financial institutions that leap into market battles without a strategic plan are setting themselves up for failure.

Bryn Conway, principal at BC Consulting joins the show to help guide you through developing a winning strategy to elevate your financial brand. We'll delve into the importance of aligning your actions with a thoughtful plan, examining the latest growth opportunities, and how to adapt in a transforming market. Join us to discover how to not just run, but to race ahead effectively and efficiently in the financial industry.

Join us as we discuss:

-Bridging the logical and emotional sides of marketing (10:28)

-Empowering women through financial coaching and education (17:19)

-Creating a safe space for employees to share their experiences (22:15)

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

Financial well-being is often compromised due to a lack of personalized guidance and accountability, leaving many feeling overwhelmed and underserved by traditional banking models. The gap between financial institutions and the personal financial health of individuals widens as services remain transactional rather than transformational, ignoring the emotional and practical needs of consumers.

This episode with Shannon McLay, founder and CEO of The Financial Gym addresses these challenges, showcasing how integrating financial coaching into banking can bridge this gap. Shannon's journey from traditional finance to founding The Financial Gym highlights the power of empathetic, tailored financial advice in transforming lives, offering a blueprint for banks, credit unions, and FinTechs to follow.

Join us as we discuss:

-Financial coaching in banking and FinTech (2:43)

-Financial coaching vs. financial advisor roles (17:13)

-Financial wellness, employee confidence, and coaching (21:16)

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

In this episode of the Practical Perspectives series, we uncover the challenges faced by a credit union during its online account opening process, where major friction points led to a staggering 60% of users abandoning their applications. The complexity and frustration of the process were pinpointed as the primary issues. We explore the effectiveness of website secret shopping studies and benchmarking against competitors in identifying gaps in the consumer journey, pinpointing where friction occurs, and optimizing the process. These strategies are crucial for preventing the loss of millions in loans and deposits by making the application process more user-friendly and efficient.

Join us as we discuss:

-Improving online banking application experience (7:19)

-The onboarding process and its impact on revenue (14:48)

-Optimizing financial services through communication and technology (30:16)

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

Marketing often finds itself in a tight spot—seen as the event organizers and handling creative materials, but not always recognized for the strategic thinkers they are. This underestimation shadows the true potential of marketing to drive substantial growth and innovation.

Martha Bartlett Piland, founder and president at Banktastic and a visionary in bank marketing, joins the show to dive into this pressing issue. Martha shares invaluable insights on transcending traditional roles and proactively bridging the knowledge gap within organizations. The solution? Embrace leadership, regardless of your title. Engage in cross-departmental collaborations, initiate value-creating conversations, and steer these interactions towards measurable objectives aligned with the company’s strategic goals.

This proactive approach doesn't just elevate the perception of marketing internally; it redefines it as an essential strategic partner capable of driving significant ROI and fostering a culture of innovation and collaboration.

Join us as we discuss:

-Marketing's internal challenges and communication with peers (4:39)

-Marketing value and collaboration with C-suite (7:36)

-Bridging marketing knowledge gap and increasing value (11:51)

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

How would you define your relationship with money as a financial brand leader? What about the relationships that your account holders have with their money? And how might financial coaching help every single one of us reframe the relationships that we have with money so that we can all continue to level up our financial confidence?

Expanding on episode 369's insights, Audrey Cannata, Operations Lead at the Digital Growth Institute, shares her transformative financial coaching journey, highlighting the critical role of personalized strategies and actionable steps as well as the emotional and psychological aspects of financial decision-making. Audrey's journey reveals the importance of finding what truly motivates us, leading to sustainable financial habits and a brighter, more confident future.

Join us as we discuss:

-Emotional spending and financial coaching. (13:04)

-Money mindset, accountability, and psychology. (24:04)

-Financial transformation and the importance of self-awareness. (30:42)

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

Financial brands struggle to differentiate in a saturated market. Despite having diverse offerings, many institutions fail to create unique, engaging experiences for specific customer groups.

Austin Wentzlaff, co-founder and CEO of Nook, introduces their innovative approach, focusing on niche markets through a combination of lifestyle and financial content. This strategy allows credit unions and banks to create deeper connections and trust with their members, leading to increased engagement and loyalty.

Tune in to discover how you can leverage this approach to transform your financial brand's strategy and create a more impactful, customer-centric experience.

Join us as we discuss:

-Building a niche experience while still leveraging the legacy (6:00)

-Targeting niche demographics in digital marketing (24:53)

-Consistency and focus when creating content for a specific demographic segment (29:17)

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

Understanding specific needs of those in the communities you serve is critical, particularly in unique markets like rural areas. But where do you put your focus first? It's the age-old philosophical question of what came first...the chicken or the egg?

Is it on the external digital experiences that will impact both account holders as well as prospective account holders? Or should you put your focus on the internal experience to help other leaders within your organization learn a common strategic framework so that everyone can be aligned?

This is a very common question and one that was recently posed by Cynthia Ramsey, brand manager at Progressive Ozark Bank. Together, we'll discuss how to navigate the delicate balance between providing technology solutions and personal touch in financial services. It's all about building trust...ensuring efficiency without losing the human element.

Join us as we discuss:

-Digital growth and its various definitions within an organization. (3:09)

-Optimizing website traffic and lead generation for financial brands. (11:32)

-Digital growth strategies for banks. (18:53)

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

For many, the world of finance is not just about numbers and investments; it's an emotional and psychological battlefield. In this episode, we delve into the world of financial coaching, a lifeline for those drowning in financial troubles. Audrey Cannata, Operations Lead at the Digital Growth Institute shares her journey through financial hardship and the emotional and psychological toll it took on her.

Audrey's story is a testament to the power of financial coaching in navigating the complex world of personal finance. It's not just about making more money or investing wisely; it's about understanding your relationship with money and learning how to make it work for you.

Join us as we discuss:

-What is financial coaching? (4:33)

-Imposter syndrome, and the importance of empathy (13:27)

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

-Financial coaching program for improving credit score and reducing debt (20:38)

Financial inclusion is not just a concept; it's a pathway to reshaping how we view prosperity and community engagement. But the financial industry still grapples with the complexities of truly achieving financial inclusion. Traditional models are being disrupted, leaving many organizations searching for effective strategies.

Viola Llewellyn, the founder and CEO of The Tulle Box, joined the show to share how embracing a future-focused mindset, leveraging technology and innovative approaches drive financial inclusion. This shift is not just beneficial but essential for sustainable growth in today's digital era.

Join us as we discuss:

-Digital poverty, cultural beliefs, and financial inclusion. (9:13)

-Effective policy regulation for growth and inclusion. (27:04)

-Digital transformation, human-centered design, and value creation in finance. (36:39)

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

There is one word that differentiates financial brand marketing sales and leadership teams who are just dreaming about maximizing their future digital growth potential compared to those that are doing it right now today. Discipline. That's why in this episode of the Practical Perspective series, James Robert Lay gives you three practical ways that you can level up your discipline, so that you can level up loans and deposits going forward into the future.

James Robert highlights the risks of a lack of discipline, such as revenue loss due to gaps in digital buying journeys. He also emphasizes the need for continuous improvement and adaptation, using the metaphor of taking the road less traveled, inspired by Robert Frost's poem "The Road Not Taken." This episode advocates for a disciplined, innovative approach to improve financial brands' digital presence and performance.

Join us as we discuss:

-Financial brand websites suffering from an R&D problem. (9:33)

-Strategies for eliminating digital distractions (13:41)

-Leveling up discipline through cold showers and new insights. (19:47)

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

"No" is one of the most powerful words that can unlock future growth for you and for your team. Saying "no" or even "not yet" might just be what you need to level up your loans and deposits at your bank, credit union, or fintech.

In this episode, part of the Real Solutions series, we're joined by Jill Sammons, Senior Vice President of Marketing, Wellbeing, and Wealth Advisory at BCU. Together, we'll dive into how the strategic use of "no" can be a catalyst for growth in loans, deposits, and overall business success. Join us as we uncover practical ways to say "no" with courage and confidence, transforming challenges into opportunities for growth.

Join us as we discuss:

-Overcoming obstacles to growth in a legacy organization (1:27)

-Employee experience, relationships, and technical agility (13:28)

-Leadership and personal growth (20:47)

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

Financial brand leaders face the challenge of bridging the empathy gap with both existing and prospective account holders. This issue is compounded by internal perspectives and resistance to change.

On this episode of the Real Solutions series, Jonathan Clay, a skilled data analyst at Louisiana Federal Credit Union, joins the shows to discuss the challenge of balancing individual responsibilities and shared goals within his organization. Jonathan and James Robert how conducting website secret shopping studies has been instrumental in understanding the consumer's mindset, while also acting as an objective outsider, has helped his team gain clarity and alignment.

Join us as we discuss:

-Obstacles to growth and the importance of perspective. (1:33)

-Collaboration vs cooperation in digital transformation. (5:35)

-Optimizing online banking experience through member feedback. (12:07)

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

Does the word "philosophy" take you back to a monotonous college lecture that was a struggle to sit through? Well, today's episode is set to change that perception. We're not just talking about philosophy in the abstract; we're diving into how its ancient wisdom, surprisingly practical and relevant, can revolutionize the way banks, credit unions, and FinTech companies operate and thrive in this age of AI.

Nikos Ntirlis, RevOps Manager at Databox, brings a unique perspective on utilizing philosophical principles as a strategic asset. Together, we'll uncover how philosophical thinking can empower you as a leader to guide your team confidently through the complexities and challenges of today's turbulent financial landscape

Join us we discuss:

-Building reputation and trust through ethos, pathos, and logos. (7:24)

-Long-term growth and measuring success in marketing. (14:23)

-The importance of reflection and self-awareness in personal and professional growth. (33:48)

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

Imagine it's early 2020. The world is about to enter an unprecedented period of lockdown due to COVID-19. Your credit union is facing not only this global crisis but also an impending merger, the launch of a new brand, and the daunting task of building and continually optimizing a website to support various business lines. Overwhelmed? Stressed?

In this episode of the Digital Growth Journeys series, we're delving into the story of Sara Williams, the marketing director at Skyla Credit Union, and her team's incredible journey through these tumultuous times. Sara shares the pivotal lessons they've learned, the strategies that have driven their success, and how they've transformed challenges into opportunities for substantial growth.

Join us we discuss:

-Marketing strategy, automation, and data analysis. (13:52)

-The impact of digital secret shopping studies. (26:41)

-Personal growth and leadership development. (31:23)

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

Many marketing teams within banks and credit unions struggle with integrating new technologies like AI and adapting to changing member behaviors.

Adam Remshifski, VP of Analytics and Digital Marketing at American Heritage Credit Union, shares his journey of evolving the marketing department to meet these modern demands. However, adapting to these changes while maintaining growth is an ongoing struggle, especially as member behaviors and market dynamics continue to evolve.

In this episode of the Real Solutions series, James Robert Lay provides valuable insights and real-world case studies to navigate the complexities of digital transformation and team expansion.

Join us as we discuss:

-Marketing challenges and emerging technologies. (4:56)

-Navigating change in financial services. (8:11)

-Digital growth strategies for financial brands. (11:42)

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

Traditional market research in finance is heavily focused on quantitative data, neglecting the nuanced emotional factors that influence customer choices. The gap between logical reasoning and emotional influence in financial decision-making leads to ineffective marketing and customer engagement strategies.

Grant Gooding, founder and CEO of Proof Positioning, believes the answer lies in emotional market research: Understanding the emotional drivers behind financial decisions can revolutionize marketing strategies in the financial industry. Financial brands can leverage emotional insights to create more resonant marketing messages and product offerings, leading to increased customer loyalty and better financial outcomes.

Join us as we discuss:

-Understanding consumer behavior through neuroscience and research. (3:03)

-Decision-making and marketing strategies in the financial industry. (7:06)

-Emotional connections in financial branding. (16:55)

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