If you’re not familiar with that name, let me strongly encourage you to invest a few minutes of your time to learn how he used an online TV show called WineLibraryTV to build a brand and grow a business online.  He documents his experiences and shares a lot of insight in his book Crush It!, which was recommended by this blog a few months ago.

But Vaynerchuk’s second book is the one you really need to read.

It’s called The Thank You Economy, and here’s why every credit union leader should devour it:

It is probably the best book available regarding how the emergence of social media tools have forever changed the way customers want to interact with businesses.  The many examples Vaynerchuk shares will stimulate your thinking and reveal ways that you can strengthen member relationships by leveraging these new tools.

ACTION ADVICE: Pick up a copy today, read it, share it with your marketing team, your business development team, your senior management team, your branch managers, and your Board members–it is that important.  Everyone needs to understand what this new economy means and how it will impact everything you do in the future.  Reading this book will help your team come up with new ideas and approaches that will build stronger relationships with your current members and attract new members who will help you grow.  It will be time well invested!

Here’s the deal.

In a blog post last week announcing the release of the paperback edition, Godin offered free access to an awesome video created from an audio of a speech he gave last year to anyone who buys the paperback edition of the book.

It’s one of the best investments you’ll make this year.  You get a great book and access to an amazing  4-part video that will stimulate your thinking, while also showing you the power of motion graphics to tell a story (even if they do at times “run amok” as is stated on the video viewing page).

Trust me.  This is a book you want to read and a video you need to watch if you are serious about creating long term success for your credit union.

P.S.  The video would be a great way to kick-off or prepare for your next Strategic Planning Session…it is filled with thought-provoking ideas that will open the mind and lead to some real outside-of-the-box thinking.

In today’s information flooded environment, it is much easier to find yourself in such a position than ever before–even though you may not realize that you are there.

Let me explain.

The day dawned like any other day.  Up at 5:45 am, head downstairs to workout in my home gym, grab some breakfast, shower, and up to the office to start a new week.

As usual, the inbox was filled with messages crying for attention.  Fortunately many of them were easily handled by pressing the delete key.

Then I opened it.

The message that hit me like a two-by-four between the eyes because it revealed the incongruity between my advice and my behavior.

Why should you, a credit union leader care?

Because chances are you have the same problem somewhere, and like me, you are probably not even aware of it.

In my case the situation is this:  On this website we feature a link at the bottom of each page inviting visitors to sign up for a monthly newsletter called Speaking of Strategy.  I regularly post articles on the blog about the importance of doing such things and about the power of keeping in touch with those you wish to serve, and regularly advocate doing what you say you will do.

BUT, the reality is that in the year that the website has been live, the total number of newsletters that have been published is…wait for it…ZERO.

The e-mail referred to above was from someone who had signed up for the newsletter and was, rather directly, reminding me of this fact.  Leaving little doubt that my lack of fulfillment on my promise was a breach of the trust that had been given to me when they signed up for the newsletter.

For that I am truly sorry–both to the person who took the time to tell me about it, and to the others who have not received fulfillment of the promise, but never let me know.

In case you’re wondering, I do have an explanation.  Shortly after the website went live, I made the decision not to publish a newsletter, but to instead offer a sign-up to be notified of new blog posts via e-mail.

BUT, it turns out that the website process was never revised to reflect that decision, so it has not been happening.  Instead, if people sign up for the newsletter, they receive a message welcoming them and promising that they will receive the next issue–an issue that never comes.

The result is that the power of the other messages on the site is diminished, because there is a mismatch between the preaching and the practice; and frankly that is not acceptable.

For that reason, I am grateful to the person who took the time to share their disappointment with me.  It is leading me to rethink the decision that we made about the newsletter, and it has created a commitment to fixing the problem this week.  Best of all, it revealed a challenge that might be important to the credit union audience this site and blog are intended to serve, and that is always a good thing!

ACTION ADVICE: Check all of your website links and processes with fresh eyes. Does everything work the way that you think it works?  Are there any gaps where the promise is not being fulfilled?  What needs to be updated or adjusted to create congruence between your promise and your fulfillment of that promise?  Taking the time to review everything you are doing that faces your customers and make appropriate adjustments is important and merits the effort.

In light of that, my experience this morning at a local deli/coffee shop merits sharing in the hope that it will stimulate some ideas for marketing your credit union.

Here’s the story.

On my way to a meeting with a coaching client this morning I stopped by my favorite deli for a cup of iced tea (as you’ll learn in a moment, I am not a coffee drinker).

Walking in the door expecting to see the usual suspects (i.e., the staff who know why I am there before the door even closes), I was caught a bit off guard when greeted by a new face.

The smiling woman extended a pleasant “good morning,” and offered me “a free small cup of coffee” (it comes with unlimited refills, so the size really wasn’t important–though I personally would have dropped that part of the pitch as it seemed to somehow devalue the gesture).

It was immediately clear that this person wasn’t a new edition to the staff, reinforced by her name tag from a local financial institution (a bank, not a credit union).

Not being a coffee drinker I passed on her offer.  Her response was to politely suggested that I might consider taking one to a friend or a colleague.  I declined, but while waiting for my iced tea I carefully observed her interactions with other patrons.

The interesting thing was that not once in her interactions with about 15 people did she mention the bank she worked for or do any of the things one might expect–providing an explanation for her free coffee offer, asking the recipients to stop by the bank, or mentioning the products and services the bank offered.

She simply provided a coupon for a free cup of coffee that was redeemable at the register, then moved on to the next person.

It was, to some degree, the epitome of being a servant–giving freely with no expectation of anything in return, and no idle chatter to distract from the act of service.

And therein lies the lesson:  If you are serious about service and you really mean it, then there are times when you simply need to serve.

Granted there is room to ask whether this activity will actually produce any results for the bank in terms of new customers, more account penetration, or even more recognition within the community.  But one thing is certain.  A large number of people were served by this bank today in a way that they didn’t expect.  And that is a message that is congruent with their brand and it was achieved by investing a couple of hours and paying for a few dozen cups of coffee.

ACTION ADVICE: Consider ways that you could emulate this process in your community or perhaps on-site at your SEGs.  It’s easy to do.  Just select a time and place, show up, say hello, and offer a cup of coffee (or whatever makes sense to you).  Show your shirts (i.e., logo and/or nametags) and be friendly, but don’t tell and don’t sell–just serve and see what develops.  Chances are people will talk about your credit union in a positive light and you will gain the kind of reputation you want among prospects and members, and it won’t cost you much other than your time and a few dollars.

Here are three reasons why this is important:

• For SEGs brought into the credit union more than a couple of years ago, chances are penetration has leveled off or declined.  The folks who opened the door and established the relationship may no longer be with the organization, or they may be in a different position where they no longer have any influence in promoting the credit union.
• For more recently added SEGs, the excitement and newness that accompanied the initial connection has faded, and efforts on the part of the organization to share the credit union opportunity with their people have likely trailed off.  The early adopters may be on-board, but the next wave still needs to hear the message and be guided to take action to join the credit union.
• For all of your SEGs, the reality is that most employees and members of the group are probably clueless about your credit union, what it offers, why it is something they should consider, or even how they would go about making a connection.

If we cut through all the reasons, excuses, and explanations that can be offered for why it is not possible to increase penetration within existing SEGs, there is an important and fundamental business reality that needs to be remembered:  It is always easier to sell services to current customers who have an existing affiliation with your business.

For credit unions with SEGs, this means that focusing energy on increasing penetration of your existing SEGs will be easier and more productive than recruiting new SEGs.  But doing so requires a focus on developing and implementing a marketing and sales effort targeted to the people affiliated with the SEG, and it requires finding ways to leverage the insights and experiences of your current members who are part of the SEG.

That means delivering tailored messages that demonstrate the value of your credit union.  That means joining the conversation and sharing stories about how the credit union has helped others in the SEG.  That means going beyond occasional visits to familiar faces and making connections that add value and help prospective members learn about the credit union.

One word of caution: Developing current SEGs requires a recognition that those in the group who have not get joined the credit union have a reason for not having done so–either they already have a financial institution, they are not aware of what the credit union offers, or they are not convinced that it is worth the time and effort to make the switch.  Your efforts will succeed to the extent that you can learn their questions and answer them in a way that reveals why they need to make the investment of time and effort required to make your credit union their PFI.

ACTION ADVICE: Here’s an action plan you can use to improve your current SEG Development Program:

1. Start by analyzing your SEG demographics. Let the data reveal how many employees are in each SEG, how many of them are members, how many of their family members are members, and what products and services they are using.
2. Hold some focus groups within your larger SEGs where you bring credit union members within the SEG together to discuss how you can better serve them, and to gain insight into what they think would work in bringing other members of the SEG into the credit union.
3. Develop and implement a niche marketing program focused on the individual SEGs with the most opportunity–the ones who can bring you the most members who fit your ideal member profile.
4. Launch a pilot initiative with 2-3 of your larger SEGs to sort out the process, then expand the effort to others.
5. Track your results, tweak your efforts, and work to expand your impact by making this a key part of your overall marketing and sales effort.

But before that happens, let me challenge credit union leaders to stop and think about whether that is what they want.

It’s a difficult question and the inherent uncertainties of the future don’t make it any easier.  But chances are there is one thing your credit union cannot withstand in 2011–a return to the status quo thoughts and actions of the previous year.

Don’t get me wrong.  There are plenty of credit unions that did a lot of good things in 2010, and plenty more that set the stage for success in 2011.

But there are new challenges on the horizon.  The credit unions that will survive and thrive in the year(s) ahead will be those that take the time to think about how they will respond.  Note the key word there–respond.  Those who sit back and wait, then react will find their path more difficult to navigate and their choices more limited.

In contrast, those credit union leaders who commit to thinking strategically and being proactive every day will put their credit unions in a better position to succeed.  These leaders will choose to join the conversation and lead the industry in new directions–recognizing that (as Einstein said) we cannot solve the problems we face today by using the same thinking that we used to create them.

ACTION ADVICE: Before the New Year gets a chance to gather momentum and take your mind back to the day-to-day issues, block out some time with your team to discuss the opportunities that are available for your credit union and how you want to pursue them in 2011.  Decide what role you will play in the unfolding and somewhat controversial conversations about the future of the industry.  Make the commitment to lead your credit union in the direction that best serves your members today and in the future, then work every day to create the vision that you have defined.

Dad comes from the generation of loyal credit union members who are loyal customers of businesses they’ve trusted over the years; and the first stop on the trip was at the credit union to get cash for his shopping trip.

He visits the same stores that he has gone to for more than a quarter of a century, looks for the same clerks who have waited on him for varying number of years, and takes time to stand in line to get his packages wrapped at the same place he always has.

For people in his generation his behavior is perfectly logical, rational, and predictable.

But wait–there’s more, and it’s very important for credit unions to understand.

His behavior is contingent upon one thing:  At some point in time he learned that those businesses where there, that they could be trusted, and that he could rely on them to meet his needs every Christmas.

In other words, if he didn’t know those businesses existed he would be going somewhere else.  And that, ladies and gentlemen is a very real problem for most credit unions–too many people just don’t know they exist.

This was proven during our shopping trip during a casual conversation with employees at a department store.  Due to a recent inquiry I knew that there was a credit union whose field of membership included employees of this particular department store.  So I asked the three ladies behind the counter if they were members.

Their blank looks told the story, and were followed with the question I expected:  “There’s a ____ credit union?”

Then another chimed in “I didn’t know that.”  The third added “I’ve been here for over five years and no one ever told me.  I love credit unions.  My mortgage, my checking account, my retirement accounts, and everything else are at the XYZ credit union and have been for years.  I just don’t trust banks.”

Now before everyone ges excited about the implicit interest these ladies showed and the powerful testimonial in support of credit unions, remember the point of the story.  Not one of these ladies knew about the credit union that was started by in the company they worked for over 75 years ago.

Enough said.  The message is clear–if people don’t know you exist, they cannot possibly use your services.  What are you doing to communicate to those who are closest to you and most likely to bring their business to you?  It’s not nearly as important to reach everyone as it is to reach the ones who matter.

ACTION ADVICE: Create an ambassador program where current members who work in the places that originally supported your credit union are asked to help spread the word about the credit union and the advantages it offers on a one-on-one basis with their colleagues and co-workers.  Offer some sort of incentive to them for their assistance and ask them to capture member stories you can share with others while they are connecting with their peers and talking about the credit union.  Leverage word of mouth in the places where you have strong roots and be ready to welcome these new members in and walk them through the process of moving their financial services activities to your credit union.

It’s Your Turn…What has your credit union done to reconnect with your core membership?  What do you plan to do in 2011?  Please post a comment and share your insights.

The first thing that drew my attention to this book was the Seth Godin quote on the dust jacket stating: “Ignore this book at your own peril.”  It got told me a lot about what I would find inside the book, and I was not disappointed.

Rework is filled with practical tips, actionable advice, thought-provoking insights, and a core message that will have value to anyone running a credit union (or any other business).

The book was written by Jason Fried and David Heinemenier Hansson, the founders of 37Signals, a company described as “a trailblazing software company that produces products used by millions of people around the world.” These are the guys who created Basecamp, Highrise, and Ruby on Rails, and several other products that help teams work together more effectively. Along the way they’ve learned a number of lessons and this book shares them in an effective manner.

But Rework is much more than a story of what two guys learned while building a successful business. In fact, one of its real appeals is that it skips the usual self-indulgent stories about what the authors did, why they did it, and how amazingly it worked.

Instead, it opts for a more direct dose of reality on a wide range of topics from getting started to productivity to hiring to culture. You’ll nod in agreement, scratch your head while pondering, and ache to change the way you do things to liberate yourself from the binds that are holding your credit union back.

ACTION ADVICE: Buy a copy today, read it tomorrow, and put it to work in the days, weeks, and months ahead.  You’ll be glad you did, and you credit union and your team will realize valuable results from your efforts.

Click image to order from Amazon.com

Real-Time Marketing & PR is a book about doing business at the speed of now–something today’s credit unions know very well.   The book powerfully demonstrates how technology has revolutionized interaction with customers, suppliers, the media and other interested parties.

At its core this is a book about social media tools and their impacts on customer and media interactions. Author David Meerman Scott makes a strong case for the need to utilize these tools, no matter what your business. He vividly reveals the pitfalls of not responding immediately in a world where customers expect and demand instant communication.

Credit union leaders and credit union marketing professionals will gain a new understanding of the power of online applications like Twitter and Facebook. The author’s convincing arguments will make it clear that you need to pay attention to this emerging world of social media. His tips and insights for monitoring and measuring your efforts will be valuable to those wondering about the value of engaging in the conversation.

David Meerman Scott opened people’s eyes to the new realities of marketing and public relations in his book The New Rules of Marketing and PR. The book spent six months atop the BusinessWeek bestseller list and has been published in more than 20 languages. He is the author of a popular blog and has delivered hundreds of speaking engagements around the world. These experiences give him a unique perspective on the ways that businesses are reaching buyers in real-time.

ACTION ADVICE: Read this book and learn its lessons, then take action to improve your credit union’s performance in delivering real-time responses.  Start by reviewing what you are doing now and looking for gaps, then move to more proactive efforts to enhance what you are doing well to make it even better.  Identify the small steps and start taking them today to leverage these new tools in growing your credit union.

Across the past couple of weeks I’ve had four occasions arise where a web form has popped up as the way for me to contact a business to secure information.  Though none of these contacts were with credit unions, there is a valuable lesson for credit union leaders in the experience.

It’s been over 7 days since the last inquiry and 15 days since the first.  During that time only one response has been received.  That’s right.  Only one of the four businesses contacted using the format for contact that they defined has bothered to respond.

In a world where business is done at the speed of now this lack of responsiveness is UNACCEPTABLE, and there are no reasons, excuses, or explanations that would make it OK.

Here’s what this means for your credit union:

1. Make sure someone is responsible for responding to inquiries that come in via tools you provide to your customers (and to those inquiries that creative customers find ways to get to you);

2. Review everything on your website and make sure that all forms, links, and e-mail addresses are not only working, but that they are going to the person who can and will respond; and

3. Communicate the importance of prompt responses to inquiries, even if the response is that you are looking into it and will get back to the person.

The bottom line is this:  Your credit union has an online presence and the online world demands instant responses.  Make sure your systems are in place and working the way they are supposed to and you will create more loyal member relationships.

ACTION ADVICE: Review all of your online points of contact today and make sure they are working as you envisioned them:  Are the links all going where they are supposed to go from the member’s side of the site?  Do the messages get sent to the right person internally–the one who can actually provide a response?  What is the average length of time between inquiry and response, and how can it be shortened?  What’s missing from your current response options that would improve member access to the information they need?

It’s Your Turn…What’s your experience with using web forms to solicit a response from a business?  Share your best (or worst) example…we can all learn from what others are experiencing.