by: Jay Kassing, President, MARQUIS
Long about the mid 1800’s, rules were adopted to regulate fair play in the world of boxing – the so called, “Marquess of Queensbury Rules.” And while we may not give a whit about boxing, have such rules been written for Credit Unions? In the very least, are there unwritten rules of conduct or procedures, designed especially for marketers?
Our friendly neighborhood regulator dictates how we play in the ring, especially as it relates to how we manage deposits and make loans fairly. Yet as we seek more business from our existing members and hopefully new ones…how are we to act, and by what measure?
Many in the guerilla marketing camp say, “All is fair in love and war and marketing.” Is it, really? Some would say that their Credit Union is enslaved to a code of inertia, such as, “this is how we have always done it” – even though most would rather be free to market based upon goals, brand, etc? Where do you sit? How do you measure up?
One other interesting question seems to be – do you market independent of what other Credit Unions have chosen to do/not do? Because, if there are no official rules governing how your Credit Union must market – you can and must take action, based upon your objectives. Your mission is to serve your membership and your market – not mirror what other marketers do.
And, if you read the classic books on management and marketing, it isn’t what or how you spend in marketing that matters…it is always about the return on that investment. Yet based upon our research, it is only about one-third of Credit Union marketers that report their results/ROI to management. Is it really that low? Huh? Hmmm.
Maybe the only “fighting” rule marketers have worth noting and/or establishing is…you must measure everything. Shouldn’t this be a written rule and common theme for marketers who expect to win? After all, the only thing that matters in marketing is results. Especially and only, the results you can prove.
Put up your dukes…and come out fighting…and measuring!
Jay Kassing is President of MARQUIS, a Texas based provider of marketing solutions including MCIF/CRM software, MCIF services, consulting and direct mail creative/fulfillment. He makes his latest book, “Change Your Marketing, Change Your Results,” available for free at his website. He can be reached at firstname.lastname@example.org. www.gomarquis.com