4 minutes
Just a few years ago, Brett King, author of Banking 2.0 and Banking 3.0, and I appeared to be in two very different camps. His was: “Branches are dead.” Mine was: “Not so fast, Mr. King.”
This played out in a number of online exchanges on LinkedIn group sites. King has gone on to great success on the technology side, but the vast majority of financial institutions are still trying to find the perfect balance of technology and human touch, of hitting target member preferences and economic possibility.
The search for the perfect delivery solution is certainly good for our business. It helps credit unions integrate the right technologies and drives a strong unique brand experience. We know that in addition to a strong branch network optimization plan, a great location, and a powerful branch business model and branded experience, staff’s ability to deliver on the brand promise is critical. The only way staff can deliver is by living in both the physical and technological worlds.
Reflective of this, over the past few years we have seen new employee titles. Teller and MSR have become universal associate; branch operations manager has changed to member experience manager; and, most recently, greeter or concierge is now referred to as digital ambassador.
I have written about the universal associate before. Let’s talk more about the other two.
One of the biggest and most elusive goals of the experience manager is to make a tangible connection between the branch and the digital experience for staff. This needs to be a visceral connection that makes staff live the brand in everyday actions. The problem is developing a logical process for brand alignment that can be accomplished in a timely manner that sticks.
The expectation of the digital ambassador in most branches is to act as a “concierge on steroids.” The digital ambassador can show members how to get what they need in the branch or anywhere else using easy-to-operate technology. These ambassadors are thinking about the entire member experience and how it can best be delivered during every interaction.
As Karen Bankston suggests in her April 2016 Credit Union Management article, “All in for Omnichannel,” the new branch team includes the folks described above, plus IT as the delivery channel provider, marketing as the guide for brand values, voice and promise, and HR for staff representation. External consultants may include a branding firm, digital delivery and design vendors, and a branch business modeling and prototype consultant. Different from the past, these outside consultants need to talk directly with each other to ensure they understand how the brand is being delivered within the other’s area of responsibility.
“Many credit unions are trying to design a new branch of the future. In doing so they have learned the hard way that transitioning from a traditional transaction-focused operational branch built around tellers and passive ‘sign in and wait’ service to an advisory-focused, high service brand experience with universal associates, new technologies and product specialists, is not as easy and simple as it sounds,” notes Mark Weber, CEO of Weber Marketing Group, Seattle. “It’s a major transition to ready people for change, define new and simpler processes, manage traffic flow, deliver effective tech demos, and stimulate new ways of building relationships, wallet share and brand loyalty.”
Weber continues: “Building a distinctive and truly evolved brand experience requires careful thought, a strong process and expert planning—starting with HR and other leaders envisioning future staff roles with the right titles, and then hiring the right people. If existing branch staff is making the shift— especially branch managers—they need a fresh new game plan, clear objectives, an engineered experience flow, and training to operate in a dynamic new brand environment. This is especially true with the proliferation of people testing new interactive teller machines, cashless branches and tablet and mobile banking stations.”
Weber’s recent experience shows that “some credit unions have identified the need for a savvy new experience manager to help lead the cultural change.” Ideally, this person has a background in retail, hospitality, sales, or an industry that requires advisory skills, such as insurance or investing. “Success isn’t just about creating a ‘sales culture,’” Weber adds. “It’s about building a welcoming, proactive relationship culture focused on helping members improve their financial health, not just sell products.”
The stakes are big for credit unions. Doing it right is worth the extra effort and costs, as it can provide big returns in growth, brand loyalty, staff success and return on investment well into the future.
Paul Seibert, CMC, is principal/financial and retail design for CUES Supplier member EHS, a NELSON Company, Seattle.
