Start by Investigating What Is Motivating
I usually respond by lighting my hair on fire
and running in circles for an hour or two.
Joann and James make good points. It may
also be helpful to further investigate what is
motivating the request. Is it because the bank
is falling short of budget projections and the
cuts are necessary to make those numbers? Or,
Knowing the answer to those questions will help direct
the research and evidence you provide in support of market-
ing’s effectiveness, as outlined by Joann and James.
When I’ve been faced with these requests, I’ve looked for
opportunities to demonstrate ROI, but also used it as an opportunity to re-evaluate the budget I created to see if there
was any waste that could be eliminated without harming our
overall marketing efforts. Sometimes I found I had budgeted
for campaigns that were no longer feasible due to limited employee capacity or changes in strategic priority. Eliminating
those items were enough to bring my budget back in line.
Ephrata National Bank | Ephrata, Pa.
Sometimes It’s Better to Be a Team Player—
and Not to Fight
Here’s another thought. When faced with
a similar situation, I responded by quickly
making the requested cuts in my budget
(eliminating TV, which wounded my heart)
and turning in another budget proposal to my
CEO and CFO the same day, at the spending
level that was requested. I was commended for
my professionalism and lack of ego, and was told later that the
grace with which I handled that situation in fact elevated my
status in the C-Suite.
So if there’s no other option, just handle it the best that
you can—and it may benefit you in the long run both personally and professionally. Sometimes it’s just better not to fight
but to be the consummate team player.
High Point Bank | High Point, N.C.
U.S. RETAILERS ARE STRUGGLING—like financial
services companies—to improve their operational capabilities in order to deliver a “seamless retail” experience to
customers who say their expectations are not being met,
according to new research by Accenture, the global management consulting company.
For the second consecutive year, two studies of “
seamless retailing” indicate a number of gaps between consumer
expectations related to product offerings and pricing and the
ability of retailers to deliver what customers want, as they
shop across a growing number of channels, Accenture says.
A survey of 750 U.S. consumers and a separate analysis
of how U.S. retailers operate across multiple sales channels
indicate that, in order to win consumer loyalty and achieve
growth across all channels, retailers must enhance their
mobile commerce offerings and improve the in-store shopping experience, according to the research.
Only 42 percent of shoppers found it easy to complete
Retailers Failing to Meet Consumer Expectations
a purchase using a mobile device, and when asked which
aspect of the shopping experience is most in need of an
upgrade, 39 percent ranked the physical store first, showing
that retailers have not made much progress in these catego-
ries since last year’s survey.
The research also found that a number of mobile capa-
bilities that can enhance seamless retailing for customers
remain underdeveloped. For example, while all of the U.S.
retailers assessed as part of the benchmarking analysis have
mobile optimized websites, only 53 percent have optimized
their websites for tablets.
According to the consumer survey, respondents said
they would like to access services via their mobile phones
while shopping in-store. More than a third ( 39 percent)
said that they would take advantage of the opportunity
to earn loyalty points and save money on their purchases
through in-store mobile phone offers, and 45 percent
would like to receive real-time promotions sent to their
phones or tablet. Yet, only 28 percent of retailers currently
have the capability to deliver that service.
with Respect to Mobile and In-Store Experience