The 10-billion-dollar answer – lessons learned from generating tangible results

Description: Chris Nichols, Director of Capital Markets at SouthState Bank discusses key strategies for growth in the current environment with Dan Marks.   Key points covered include:   Chris’ background and role  The interplay of balance sheet, income statement, and hedging strategies in the current environment  How Chris’ team enables banks to implement the right balance sheet and customer tactics   The importance of prioritizing customer relationship growth and picking the right areas to focus on in order to earn above the banks’ cost of capital Best practices in driving relationship deposit growth  How data, machine learning, and practical analytics can and should inform prioritized focus  Chris’ perspective on what we will all wish we knew about 2024 ahead of time by the time we get to 2025 and look back on the year 

David Eldred, Chief Experience Officer of Solarity Credit Union, joins Dan Marks to discuss how he has used practical behavior-driven data to be a foundation for driving growth and improvement of the overall member experience.  Key points covered include:   David’s career progression and current role  The growth trends that lead to a strategic imperative to put the member at the “center of the universe”  Tools and techniques to discover member preferences and differences by persona  How data drove the process and was used to tailor member communication  Best practices for change management both inside of the credit union and with the members  Key trends and emerging opportunities  David’s hobby as a board game publisher. See this link to discover his game: RPG Battles Home - RPG Battles 

Description: Doug Peacock, EVP and Chief Digital Officer of Associated Bank, joins Dan Marks to discuss how he is leading a Digital First/Product First strategic initiative to use digital channels to enhance the overall customer experience and profitable revenue growth at the bank.   Key points covered include:   Background and current role  Growth at Associated Bank The key growth drivers digital channels enable at the bank  How advanced data analytics informs strategy and the impact AI will have  Prioritizing engagement, retention, and originations with digital channel capabilities How the digital experience supports sales both in the digital channel and in other channels  The changing role of the contact center to support the overall experience The importance of developing curiosity as a key leadership trait 

Scott Brinker, Editor at chiefmartec.com and VP of Platform Ecosystem at HubSpot, joins Dan Marks to discuss what the current state of the art looks like in the world of Marketing Data, Marketing Automation, AI, and the interaction of the different market participants.    Key points covered include:   Scott’s background and experience in the space both as a founder of chiefmartec.com and in his current role. Key trends related to marketing data, AI, and no code/low code capabilities. How the landscape has changed since first-generation platforms such as Unica, Eloqua, and Marketo. The key benefit of a platform-based approach and how it is particularly relevant in periods of rapid innovation. Key considerations in highly regulated industries like financial services. Does Scott have a crystal ball that reveals the key trends to watch over the next 3-5 years? Tune in to find out. 

Tim Keith, CEO of Infusion, joins Dan Marks to discuss current trends, opportunities for raising deposits for banks and credit unions, interest rates, and best practices.  Key points covered include:   Trends we are seeing as we work with clients all over the country at the start of 2H 2023.  What we are seeing today regarding raising deposits efficiently and effectively with the huge focus on deposits over the last 6-9 months.  Opportunities banks who need deposits should be focusing on as high probability wins and any similarities or differences for credit unions.  How loan growth has changed with the current interest rate environment.  What we are seeing regarding channel mix and best practices for execution.  Chapters (00:00:00) - Top Quartile(00:00:46) - Credit Unions and deposits: trends(00:05:32) - How to Raise Deposits? Credit Union(00:08:35) - Bradley:(00:17:39) - Credit Unions vs Banks: What's The Difference?(00:28:03) - Loan Growth vs. Deposit Growth(00:33:52) - Top Quartile: The Opportunity Assessment

David Hall, SVP, DX Director with Bank of Hawaii, joins Dan Marks to discuss key lessons learned during his history working across the front lines and back office at Zions, MX, and now at BOH, using data and personalization to make a difference in areas that really matter to customers.  Key points covered include:  David’s background and current role at Bank of Hawaii.  What David learned mixing tunes in the 90s.  What growth has been like at Bank of Hawaii recently.  How David’s experience as both a banker and FinTech executive uniquely informs his perspective.  How David sees consumer behavior changing fundamentally versus more cyclical changes driven by the economic/rate environment.  What David thinks about the intersection of media channels and sales/service channels.  How data informs the strategy being put in place at Bank of Hawaii.  Overall observations and lessons learned that David believes would be helpful to other bankers.  David’s advice to his younger self based on what he knows now, having served at multiple banks and in Fintech.   

Steve Mertz, EVP of Growth & Strategy with People First Federal Credit Union, joins Dan Marks to discuss how their team is leveraging data to boost member and revenue growth. Key points covered include: Steve’s broad background with banking and credit unions and how that has prepared him to drive the overall growth agenda at People First Steve’s passion for family and baseball  The new executive team at People First being in place to accelerate growth after a period low to no growth The challenge in brand perception and delivery that had to be addressed as a foundation How to use data-driven insights to effectively coordinate marketing and sales activities  Where Steve sees the puck going in applying data to generate tangible revenue outcomes  Setting an array of proactive touchpoints to communicate to members in the way that they have signaled they prefer – including emerging channels like text and OTT video Proactively generating sustainable low-cost funding to continue driving top quartile loan growth  Steve’s mix of experience including brokerage licensure, branch service, and sales management   

D.G. Markwell with Credit Union Leaders joins Dan Marks to discuss leadership skills, best practices, and habits that will be essential to maintain strong growth into the future. Key points covered include: How D.G.’s background growing a credit union from $100M to over $2B in assets set the stage for Credit Union Leaders  How the mission of Credit Union Leaders helps the industry grow Competing with the big banks and supporting communities  How leadership looks in the digital age  Best practices in data-driven digital growth and keeping a heart and passion for the community How credit unions under $5B can tap into essential data-driven expertise without having to hire full time Leadership essentials looking out 36 months, including: Empathy, mental health, digital transformation, the culture of data-driven decisions, financial education, marketing, and product development  How to build teams effectively by relaxing and embracing the process – not to worry, but also recognize different talents and skills on the team   Forbes article that DG mentioned.

Drew Manning, CIO at KeyPoint Credit Union, joins Dan Marks to talk about how technology enables KeyPoint to deliver a great member experience today and into the future as the landscape changes. We specifically talk about: Drew’s background and current role as CIO, along with his hobby as a Jazz musician (Drew’s Jazz Spotify channel) Recent growth at KeyPoint  Drew’s experience as a developer and how that informs his approach to leading as CIO  Key growth drivers  The role of data analytics – both historical trending and forward-looking predictive  Managing risks to protect the member experience Drew’s perspective on where the technology landscape is going  How instinct and curiosity are key success factors   

Tim Keith, CEO at Infusion, joins Dan Marks to discuss what it means to deliver over $10 billion in balances for clients, how that connects to the Mission, and key lessons learned along the way, grounded in deep analysis of what actually drives tangible results. Key points covered include: The $10B response balance milestone What this means for clients and how it connects to our Mission Lessons learned across four key performance optimization dimensions: Audience selection and the capacity/propensity equation Offer structure related to product mix Creative/positioning Channel mix including digital and OTT/CTV How results are tracked and optimized Chapters (00:00:00) - Infusion Bank Goes Over 10 Billion in Deposits & Loans(00:03:43) - How to Get to 10 Billion Accounts(00:05:18) - How to Plan, Execute and Track Your Community Bank Growth(00:08:04) - Key Lessons Learned from Tracking 10 Billion of Revenue(00:12:38) - Post-Banking Marketing Lessons(00:14:24) - Potential to Buy Factors and Deposit(00:18:14) - OmniChannel Marketing: The 10 Billion(00:23:19) - Can Credit Unions Track Online Account Open?(00:27:24) - Cognitive Banking: The $10 Billion Measurement(00:29:26) - Community Banking's 10 Billion Milestone(00:32:52) - Top Quartile: The Opportunity Assessment