Most credit unions that fail to meet their goals do so because of strategic execution. Marketing is the tool that drives this execution; however, most strategies are not set to be driven by this powerful tool.

PRE-STRATEGY
Prior to setting any goals or objectives, you must first uncover any limitations of your credit union. What areas are preventing you from currently reaching your true potential? What areas should be addressed today in order to provide a greater return for your members tomorrow?

During this phase of strategic planning, Marketing Portals will assist you by:

- Determining how your Operating Expenses, Provisions for Loan Loss & Cost of Funds affect your overall profitability

- Discovering which services are providing the greatest return to the credit union

- Addressing any services preventing you from generating additional value for your members

SETTING PARAMETERS
In order to ensure continued growth of your credit union, parameters must be set to prevent any single objective from dramatically effecting your financial position. You will commonly read about marketing initiatives that win awards as a result of tremendous success. What you do not read about is how this unplanned success can be a serious issue for the credit union and decrease the overall value to members.

During this phase of strategic planning, Marketing Portals will assist you by:

- Determining necessary liquidity levels

- Setting parameters such as your Loan to Share and Operating Expense Ratios

- Reviewing lending policies to determine adequate levels of risk for Provisions

CREATING GOALS
Once you have set parameters and determined any areas decreasing overall profitability and value to members, you are ready to begin setting goals for your credit union.

During this phase of strategic planning, Marketing Portals will assist you by:

- Setting goals and objectives realistic to your institution relative to member potential and involvement

- Determining how these goals will link together to provide a clear path for your marketing initiatives

DESIGNING YOUR STRATEGY
Execution of your strategy will largely depend upon your marketing initiatives. Understanding this you must create a strategy that is aligned with the potential of your marketing department. Analyzing how your goals interact with the profitability and parameters set in phase one and two, you will be able to create strategies that prevent any single objective from decreasing the value to your members.

During this phase of strategic planning, Marketing Portals will assist you by:

- Demonstrating how each goal or objective effects your overall profitability

- Determining the areas your marketing department should target and set parameters for each initiative

- Establish timelines for reaching each goal or objective

Growth is not a strategy. It is a result. Experience the results you want with help from Marketing Portals. Contact us directly at 813.412.3399 or click here.

→ Learn how to execute your strategy through marketing.