Strategic planning

2022 Strategic Priorities: Revenue Growth

Over the next several weeks, we’ll highlight several key priorities community banks and credit unions will want to consider while developing their strategic plans.

Revenue growth remains a priority and identifying the tactics that will be most effective will be imperative.

Strategic Planning: What Happened During COVID

As Kierkegaard professed: “Life can only be understood backward; but it must be lived forwards.” This sentiment has never been more appropriate as you approach your strategic planning for 2022. The COVID-19 pandemic has had an impact on so many facets of the way we live and work and should provide a significant backdrop to your planning for the year ahead.

How COVID-19 Will Drive Customer Experience Changes

Focusing on the customer experience has always been a priority for community financial institutions. As we navigate this new “normal,” the way that experience is delivered must expand. While digital delivery of banking services has been on the rise, the COVID-19 pandemic just may be the tipping point for the digital banking experience.

Prioritizing Strategic Planning

You’re probably already aware that the 2020-21 strategic cycle will prove to be the most important in more than a decade. Banking – and the world at large – has seen tremendous change because of the COVID-19 global health crisis. Customer behaviors are shifting, as are their needs and expectations. The economy is uncertain. Financial institutions are feeling the earnings pressure and organizations must be agile to address and face these challenges in the months and year ahead. It could mean the difference between success or merely surviving.

Do Your Planning Efforts Lack Focus? Ask These Ten Questions to Stay on Track.

As you work to fend off challenges and secure a future for your institution, a proper planning effort can truly make the difference—giving your team a clear direction and your institution a much higher likelihood of success.

Here are 10 must-ask questions from the Galapagos team, to help you for your next strategic planning session.

7 out of 10 bank executives agree: Strategic planning fails to deliver

Perhaps that’s why 87% of organizations fail to execute on the plans they produce every year? It’s difficult to generate the necessary enthusiasm and tenacity required to execute on a plan that fails to inspire. So check out ten questions to ask to make sure your plan stays relevant.