I was in the Penn Square Mall in Oklahoma City on a beautiful summer Sunday. The mall was reasonably busy, probably just right for a Sunday afternoon during a non-holiday shopping season. I was headed to the Apple Store, but on the way there, I passed by the Microsoft Store. Microsoft has attempted to duplicate […]
Category Archives: Entrepreneurship
Don’t Inadvertently Limit Innovation
I asked 16 payments executives to draw a vase. Let me explain… I have been facilitating strategic planning for 20 years for one organization, PaymentsFirst. P1st is a nonprofit payments association headquartered in Atlanta, and serves financial institutions and corporations in South Carolina, Georgia, Alabama, and Tennessee. Their executives are some of the most well-respected […]
Being Strategic by Improving the Customer Experience
The issue of how you can improve the customer experience cannot be adequately covered in a few hundred words. Let me give two examples, one dealing with the digital / online experience and one dealing with the physical branch. If you are like most FIs, you have multiple online banking systems. Typically, you would have […]
Taking Innovation Too Far
I am a big Douglas Adams fan. For those of you who don’t immediately recognize that name, perhaps you have heard of The Hitchhiker’s Guide to the Galaxy. If you haven’t, you need to check it out. HGG originated in 1978, the same year I graduated from high school, and combined an incredibly inventive premise […]
The Need for Self-Service Training
I was chatting with a group of U.S. Dataworks, Inc. employees about self-service and my belief that good self-service trumps great personalized service. We agreed this is generally true, though one of my incredibly cerebral programming staff, Eric, noted how many patrons of the grocery stores where he shops should need to qualify before using […]
Believe me, Good Self Service Works, Just Let me Choose …
Due to my frequent flights in and out of Atlanta, I have become a loyal Delta customer—with a status to show for it. While I generally think they offer a good flying experience, there have been a couple of instances where their efforts to provide a quality personalized service actually diminished my flying experience. Don’t […]
Why Banking is Failing at Cross-Selling Fee Services
I recently read an article from The Financial Brand outlining the problems financial institutions have in cross-selling services with associated fees. The article compares data from Amazon Prime sales to the lack of success FIs have had in selling fee-based services. They found, even when Amazon raised the price for the Prime service, subscribership increased. […]
Innovation in Charitable Giving
Charities are finding it increasingly difficult to raise the money they need. Changes in tax laws certainly have had an effect, but the biggest adjustment is merely the march of time. Think about it: how do most nonprofits raise money? They have an annual fundraiser—some big event where well-heeled, high-networth individuals are wined, dined, or […]
The Innovation Challenge – Are You Up For It?
Most companies are well-run and operate with a reasonable level of efficiency. The very best companies, though, are not satisfied with being “just ok” and work to constantly improve, innovate, and evolve to enable creativity that leads to innovation-driven growth. I have written extensively on the need for Innovation-Driven Growth (you can check out these […]
If Banking Was So Easy, Everyone Would Already Be Doing It: Part 2
If you have read my recent post on banking with online non-banks (if you haven’t, it can be found here), a good follow up to it would be a recent article from The Financial Brand, “Eight Challenger Banks Traditional Banks Should Worry About.” I would highly encourage you to read the article before continuing to […]