2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Jennifer Laud Jennifer is a credit union marketing consultant and the owner of Jennifer Laud Consulting. She has a background in strategy and a passion for positioning credit unions to find their … Web: www.jlaud.com Details As summer approaches and the nation discusses what it takes to move forward during the pandemic, it’s time for credit unions and marketing teams to reemerge from our hunkered-down states.After weeks of anxiously watching how things unfold with the global health crisis, many of our members are starting to feel fatigued and ready for some good news to stay motivated. By now, messages of solidarity are beginning to sound a little stale. While that messaging was completely appropriate and necessary, it is now time to pivot from crisis mode into action once again.So, how do we connect with members and their desire for a bit of their old lives back, while still being sensitive to an ongoing pandemic and looming recession? We can start by understanding the changes within our member segments, and then create plans based on the new information.Evolving Member SegmentsSegments and member personas are powerful tools, but our old data is unlikely to be reliable. Information on income, assets and purchasing intentions may be drastically different than they were at the beginning of the year. As many people reassess what they are prioritizing, some behaviors may even be changed for the long-haul.Ernst and Young’s recent consumer index provides information on how consumer behaviors are adjusting due to the pandemic. As you look at your membership, see how many people now fall into one of these new segments:Hibernate and Spend (11%): These members are most concerned with the pandemic, but best positioned to deal with it. They are spending more, saying that products have changed, and that brands are now more important.Stay Calm and Carry On (26%): These members are not changing their spending habits.Save and Stockpile (35%): These members are not as concerned about the pandemic, but are worried about the impact to their families. They are pessimistic about the long-term effects.Cut Deep (27%): These members are the hardest hit, have the biggest change in behavior, and are most pessimistic about the future. Almost a quarter have had their jobs suspended, either temporarily or permanently. They are buying just the essentials and say brands are now far less important.How you approach changes to your marketing over the summer will depend on the sentiments of your membership and how their capabilities have changed. You must keep a clear understanding of how your segments are feeling and how their actions are changing.If you skew heavily towards members who have maintained many of their resources and are generally optimistic about the future, you can lean on your mission to seperate yourself from other brands. Focus on beefing up your digital offerings and marketing campaigns, while removing barriers for members maintaining social-distancing practices and assisting members in finding ways to enjoy everyday comforts while they are at home.For credit unions that have a more pessimistic membership and more individuals who have lost income or have fallen ill, your approach needs to be different. With these members, find ways to provide relief from their debt obligations and offer reasons to feel better about their long-term financial position. You can create solutions as their credit union, but also lean on your network and partnerships to give information about places they can find assistance or support.We can expect that at some point, everyone is going to transition out of their crisis segment and into their new normal. EY also offers five segments that we will likely see emerge:Back with a Bang (9%): These members are younger and working. Their daily lives were most disrupted, but they are also most optimistic and are spending as a result.Get to Normal (31%): These members are spending like they previously did and their daily lives were never really affected.Cautiously Extravagant (25%): These members are middle to high income and are focused on health. They will spend more in areas important to them.Stay Frugal (22%): These members are spending slightly less and trying to get back on their feet.Keep Cutting (13%): These members are the least educated and least likely to be working. They are making deep spending cuts, changing what they buy and how.As people reflect on what is important to them, some members will change the types of businesses they seek out and what things they consume. This is a huge opportunity for credit unions and one that we should be prepared for. Take a look at your process for gaining and onboarding new members. Work on necessary changes to offer remote solutions that are easy to use and incorporate your credit union’s personality.Prepare a number of short-term campaigns that you can pull out quickly as you analyze changes within your membership. Ideally, they’ll have some flexibility so you can make adjustments to keep them relevant and appropriate for your local environment. If you already have strong digital marketing skills, continue to flex those muscles when you plan delivery channels. If not, create a plan to develop those skills and utilize whatever social media, website, email, or digital ad knowledge you have already.For the long-term, this is a great time to take a step back and assess your position. You may decide that you’ve ignored your remote experiences in favor of face-to-face. Now may be the right time to make a shift in training and technology investment. Or, you may realize that this is the perfect opportunity to solidify your place in the local community and take advantage of potential members who are realigning their actions with their values. As we all respond to the shock of these current times, your credit union can do the same and come out the other side as a stronger institution, with stronger relationship ties with your members.
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Barcelona might well be a club on the brink of institutional crisis.There are problems in La Masia where the production line is malfunctioning. The style of play in the first team under Luis Enrique betrays the principles that brought Barca widespread acclaim – and titles – under his predecessors.He has the Messi – Suarez – Neymar trio at his disposal but has laid waste to Barca’s controlled style to make sure they get the ball quickly and often.Enrique preparing tactical switchThe transfer policy under sporting director Robert Fernandez is turning up more misses than hits, including signings such as Paco Alcacer, Aleix Vidal and Arda Turan.There is bound to be upheaval at Camp Nou this summer. Barca could well be looking at an outlay of more than €100m – yet again – just to get the squad up to standard. The problem is that they’ve not got that amount to spend.The late summer signing of Andre Gomes from Valencia was part-financed by bringing forward a portion of the 2017 transfer budget – estimated to be a shade under €30m – meaning they will only have around €60m to play with. For that you might get Marco Verratti’s left foot and not much else.Then there is the issue of Lionel Messi’s contract. The 29-year-old has not yet reached a deal with Barca regarding the renewal of his current deal which expires in 2018.Barca are right at the very top of their wage budget as things stand – sustaining the MSN trident is no cheap trick – but will have to match Messi’s demands. As he is the only superstar currently pulling his weight, he will be entitled to ask for his market value.Messi is more than halfway through a four-year deal worth a basic €32m per season after tax but it’s structured unconventionally. For the first two seasons of that deal Messi received €22m. This season – and next – he receives €42m.Messi will no doubt be expecting an improvement; at least €35m per season for the duration of another four-year term. He has scored 19 goals in 20 league games this season and is shouldering an increasing burden for Luis Enrique’s side, so it would appear to be a no-brainer for Barca to pay up.Messi’s interests – however – might not be best served by remaining in Catalunya this summer.These are not the conditions in which Messi can sustain his own streak of success. Barca are on a downward trend – unless something drastic happens – and Messi deserves more than enduring the whistles and boos of a Camp Nou crowd frustrated by a lack of progress.Barca is all Messi knows. He is the clear boss having grown into the role as leader following the departures of big personalities like Carles Puyol, Xavi Hernandez and Dani Alves. The team is bent to his will.Barcelona’s 2016-17 season, however, has laid bare the extent of their structural deficiencies not just on the pitch but off it. Messi’s contributions – such as his double against Leganes last weekend – are serving to paper over the cracks. The significant fan dismay around Camp Nou – including recent boos and whistles against Gomes – is said to have agitated him. What Messi deserves is the assurance that Barca can build a team around him good enough to compete with Real Madrid for the biggest trophies in Spain and in Europe. Currently they cannot make that promise to him.Barcelona are going to have to rebuild their team and strengthen it for the coming seasons but that is not what Messi needs. Barca’s financial constraints mean that they cannot build easily. Messi wants a team good enough to sustain a treble bid but the irony is that he might have to leave for them to afford it. The indulgence of MSN costs a lot both in terms of investment and identity.It might be easier for them to create a side without him, as painful as that might sound, and that’s why a divorce is not as unthinkable as it once was.It would not be completely without precedent. Former Barca president Sandro Rosell has revealed that the time to sell Ronaldinho was after winning the Champions League in 2006 and admits he would have done so had Cristiano Ronaldo or Kaka been available.Zidane: our lead is nothing “When you are Barca manager you have to be cold-blooded,” he said to El Periodico.Messi’s buyout clause stands at €250m but Barca would accept significantly less than that with only one year on his contract. Let’s say for example they take in €150m for him plus the €140m-odd in saved wages over the life of another four-year contract. Those are not inconsiderable sums – especially for a team sorely lacking balance in the squad.Once upon a time homegrown players like Victor Valdes, Puyol, Sergio Busquets, Xavi, Andres Iniesta and Pedro were coming through and ensuring massive fees were not needed to maintain that balance. Those days are over.The pain of losing Messi is going to come some day for Barcelona. When all is said and done he will have led them through their most successful period in history. Will he retire there? Will he decline?Footballers usually get around a decade at the very top and in that respect Messi is already in added time. Wouldn’t it be prudent – and not to mention brave – for Barcelona to cash in while the price is high and ensure they can move forward?