Leap, and a Net Will Appear!
Corporate clarity. Things are not what they once were. New management, new direction, constant restructuring, shifting culture, departing friends. This isn’t home anymore.
But, what to do?
Ride it out in the hopes that things will improve? Console yourself with a false sense of ‘security’ in the job you now have? Or, leap ‒ start fresh, believe in self, chart your own destiny, take a risk.
Welcome to CS3 Marketing
So we did it, founding CS3 Marketing in the fall of 2015.
Much of year-1 was spent reflecting upon past lessons learned (which provided a long list of things not to do), while charting our path (the fun part). Lacking rules and with an ear to the market, we set out to create a different kind of marketing services firm.
We did research, interviewed industry experts, and talked with bankers to determine gaps in the industry as well as to define common sales and implementation obstacles in our quest to develop a better roadmap. Here is some of what we have learned and factored into our solution set:
Focus on areas of strategic need. In particular:
- The acquisition of new banking households.
- The engagement and growth of new and existing customers (OnBoarding).
- Retention of banking households to enhance long-term profitability.
Marketing programs are too expensive and take layers of approval before budgets can be approved:
- Solution: Make them cheaper by removing costs that don’t drive results.
- Solution: Offer subscription based pricing.
- Solution: Create Pay-for-Performance programs
Marketing programs take too long to implement and require the commitment of too many internal resources:
- Solution: Build programs that leverage an automated-platform that can be turned on within weeks, not months
- Solution: Reduce the amount of internal-staff time required to launch a program.
Provide digital solutions that drive traditional results:
- Solution: Build digital solutions under the same framework as “tried and true” financial service marketing programs.
- Solution: Integrate a strong digital platform with traditional tactics.
Help the financial institution fortify its digital presence to become the dominant digital player in their market:
- Solution: Build a product that can systematically get the FI to the top of the search engine.
- Solution: Use the foundation built with search to build a platform for gathering leads and preparing for the digital revolution.
Fuel programs with “big data”:
- Solution: Build products that use millions of records but boil it down to a 1:1 relationship.
- Solution: For every bit of data used, build an FI-facing playbook to support the execution of program solutions or data-findings.
Acquire accounts from millennials:
- Solution: Build products based on the millennial buying process.
- Solution: Build a product that hits multiple digital and traditional channels.
So as we reflect on our first year, all we can say is that it has been a journey. We have changed course, pivoted, run in circles, pioneered paths, and finally set our course. We are excited about our launch, we are better from the journey, and we are optimistic about the future.