How software development best practices changed marketing
Software engineers had a problem. Their work was always late, over budget, and full of bugs. Managers tried fixing the problem by simply hiring new developers only to see the same outcome of delayed deployments and upset customers. Thus agile software management was born.
Agile management allows software developers to work in small sprints. Sprints let developers adjust their product and fix bugs while working towards an overall project goal. The entire idea of agile management is to be working on an ongoing cyclical process rather than a linear timeline. Overall results drove increased productivity, project visibility and even team moral.
Like software engineers, marketers are constantly trying to stay in-front of changing customer needs and wants. This is especially important for today’s credit union members who are expecting a unique, customizable experience with the products and services they adopt. Top fraud protection, secure mobile banking, reliable bill pay, and an engaging rewards program are just a few of the many products and services members look for in their financial institution. With so many products to maintain, how can a credit union stay ahead of their members’ demands?
Here are a few agile management strategies:
1. Develop Adaptive Campaigns
Whether your credit union is campaigning for new accounts or launching a new mobile app, there is nothing worse than preparing a large campaign that yields zero results. With agile marketing, start small and adapt your messaging based on member feedback. Test what works and what does not work during the campaign. This will save you time, resources and money while developing a campaign because it is adaptable to your audience’s response. A large campaign, launched at once often uses all allocated resources thus restraining and adding pressure to a team should the project yield negative results.
2. Adjust to Results
As new campaigns are scoped by the marketing team, think about the results it should drive for cardholders. To do this, take the time for member feedback and plan for adjustments that need to be made in the decision or implementation process. Erin Everhart, a digital marketer or 352, says, “We learn what works best for our client at this time through hands-on implementation.” While not all implementation strategies can be hands-on, ignoring any feedback would be harmful to driving positive results.
3. Avoid Departmental Silos
It’s easy to get wrapped-up in a campaign that promotes a feature that your credit union offers or is planning to offer. However, products and services can no longer solve just one problem or perform one duty. Work towards involving multiple departments prior to launching the campaign because after all, each department is fighting for a similar goal. The ripple effect to follow should then have a positive impact across multiple areas of your credit union.
At Buzz Points, a merchant-funded rewards program, agile marketing is used to develop and refine our email campaigns. Because no one person has the same shopping behavior, Buzz Points has adapted its marketing to fit an individual’s card use. Weekly email campaigns are tailored with targeted special offers and information about local businesses in a cardholder’s area. Marketing messages and offer types are updated in a series of tests every week to continuously improve our engagement with customers. More information about Buzz Points can be found at buzzpoints.com.
As your credit union introduces new products and services, an agile marketing strategy should be considered so your marketing can be adapted to your member’s feedback and effective in driving results. Relieve the pressure of meeting the many demands of your members and get ahead of them with an agile marketing strategy.
