Our approach revolves around incorporating modern practices that ensure successful plan execution. We believe in simplicity throughout the process, working closely with you throughout the year to ensure that your plan delivers the desired results.
When you engage with our firm to facilitate your Strategic Planning, we take you through a series of common practices that result in a completed Strategic Plan. This typically includes conducting SWOT analyses, interpreting data, gathering ideas, converting ideas into actionable items, and setting due dates and goals. At the core of our planning engagement lies a set of Principle Disciplines that guide your organization’s culture toward executing your strategy with excellence.
By combining comprehensive market research with your organization’s member data, we develop tailored solutions to maximize the performance of your existing branches. Additionally, we evaluate opportunities for expansion into new markets and seamlessly integrate these strategies with your digital approach.
Trade areas are meticulously mapped by manually drawing them based on the popularity of “destination points” and considering the routes and time required to reach those points. Following the mapping process, demographic, growth, competitive, and other trade area metrics are collected, ranked, and summarized into a customized scorecard tailored to your specific needs.
In constructing branch output estimates, branch competition emerges as the most influential variable. This phase involves conducting a comprehensive 20-Point Predator & Prey analysis for each competing institution branch. Qualitative factors such as branch age, facade appearance, street-level positioning, clustering, as well as institutional brand, product value, e-service value, local marketing, and more, are considered in the analysis.
To generate advanced custom models predicting branch output, we blend market, peer, competitor, and customer/member data. These models enable us to determine not only the optimal location for a branch but also the impact of closures, relocations, redesign investments, and other factors. This phase is indispensable for any institution seeking to plan for future growth in both existing and new markets.
Upon completion of your Market Study, we provide ongoing advisory services along with a secure online tool that facilitates interaction with the data, enables the creation of custom scenarios, and allows for the generation and export of reports. With our advisory service, we act as your personal “market expert,” utilizing the study to assist you in making future decisions, such as evaluating specific street-level sites, considering closures, relocations, and more.
Our expert team evaluates all product lines to ensure they align with the needs of your members. Taking into account your entire business model, member relationships, sales and marketing performance, and other influential factors, we identify and address any unforeseen influences that impact product adoption.
We have successfully executed numerous projects aimed at updating, refreshing, adding, and changing credit union products. Our expertise lies in providing your credit union with the right analytics to identify current and future opportunities, enabling you to make confident decisions regarding product development. By eliminating guesswork from the equation, you can avoid wasting resources on ineffective design, pricing, promotion, and e-channel strategies. Our goal is to help you maximize growth and earnings.