A credit union wants to take on an aggressive approach on targeting marketing toward the teachers in their membership (a large market segment.) The marketing people work up a campaign, begin verbally designing ads for print and other media, and then they find the board has trimmed their marketing budget to unusable levels for any type of meaningful campaign.
The year hasn't even started and spirits are dampened and an opportunity is lost. Sound familiar? Strategies are not just good ideas and wishful thinking. They are components of a well-planning and established vision that needs the proper financial support and commitment.
Another commitment needed by all portions of a strategic plan is the commitment to make it happen. I've worked with credit unions that have a great planning document and it rarely gets looked at again until the next planning retreat approaches. This is a bad idea and a waste of time. The plan must have the commitment of those responsible for getting things done and executives actually taking on the action plans as a meaningful part of their daily work program.
College football teams like to start with a first game patsy, to get off on the right foot with a convincing win, build some confidence and gather momentum in necessary commitments for when the tough opponents come to play.
The same approach can be used when building commitments to your planning process. Start with the easy victories first. Demonstrate progress by accomplishing action plans and showing quick results. This gathers momentum for the staff to support and make commitments to the plan, the board seeing success and progress becomes easier on the financials as long as they know good progress (winning) is happening.
What are the easy victories? Small projects and visible projects are the best early wins. One credit union client wanted a new marquis that was programmable and had lots of active motion as an attention getter. The board approved it and it was quickly purchased and installed. As a "test" of the programming the first couple of days ran a scroll of a thank you to the board for their foresight to approve the project. The marquis was a piece of a larger marketing initiative to be more visible. Did thanking the board the first day help? It didn't hurt at all!
Commitments from the board and executive team for the proper funding and the proper work output is critical to giving your strategic plan a fighting chance for victory.
-- Russell
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