No matter the cause, the impact of poor planning can be far-reaching: Unrealistic goals can tax the system, demoralize the team, and leave the bank struggling to meet its targets. Taking the time to research or enlist data analysis is sometimes seen as too time-consuming. But the measure-twice, cut-once philosophy can prove to be far more valuable than taking the quickest path to a perceived solution.
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.
Marketing Automation: Do Less with Greater Results
In many financial institutions, you’d be hard pressed to find a major initiative in which the marketing department doesn’t play a role. Now more than ever, you’re being asked to do so much more and often with fewer resources. If you’ve ever wondered how on earth you can balance these efforts and get it all done, you don’t need to clone yourself; you just need better tools.
It's Time To Get Strategic About Customer Relationships
In our earlier post on customer strategy, we discussed the decline in community FIs and the need to face a new reality in order to survive and thrive. If you are ready to face that reality, we are here to talk about how to take that on.
With Savings Banks on the Decline, Is it Time for a Shift in Customer Strategy?
We've all heard it: The future of community and savings banks is at stake.
It's no secret that community banks are facing difficult times, and with the number of community FIs down 66% nationwide from just 23 years ago, something's got to give.
One prominent Michigan-based community FI is partnering with Galapagos to meet the challenge head on with a new approach to customer strategy. Read on to understand the changes Eaton Federal Savings Bank is making to lead an industry in decline.
Post Financial Brand Forum: What you learned, what you can put into motion
In Deposit Acquisition, There Are no 'Easy Buttons'
As human beings, we are conditioned to look for the simplest solutions. We want to push a button and solve a problem. However, in business – and in life – there are rarely silver bullet answers for our challenges. The reality is that there are very few substitutes for doing the hard work. However, the absence of an easy solution does not indicate the absence of opportunity. Read on to learn where the opportunities exist.
Are You Missing a $38 Million Opportunity?
Struggling with Checking Deposit Growth? Data Shows That You Aren't Alone
Yes, there is increased competition from national banks and digital-only competitors and yes, the market focus has shifted toward CDs and Money Market accounts. However, traditional checking acquisition programs have grown tired and no longer deliver the same results as in the past.
Find out how your performance stacks up and what you can do to increase new checking account deposit growth.
