There’s just something about food on a stick that speaks to the culinary soul. Whether it’s turkey legs, popsicles, corndogs, shish kabobs or some of the more exotic offerings like donuts and fried butter on a stick, these foods just rock. Admit it: food tastes better on a stick.
And why do these delicious foods on a stick rock? For a lot of different reasons – the biggest being ease and convenience. What’s better than walking around the midway at your local county fair, chowing down like a caveman on a juicy turkey leg? Or running through the sprinkler on a hot summer day as a child wagging a dripping cherry popsicle? It’s fun. It’s easy. You don’t have to worry about all the other typical accoutrements of eating like utensils, napkins and, heck, even a place to sit down. It’s just convenient.
Does your bank or credit union offer this “food on a stick” type of convenience for its consumers? If not, you should. There is an ongoing Simplification Revolution in banking that shows no signs of slowing down. If you want to acquire and keep consumers happy, you need to make things as simple as possible.
How to accomplish this? The biggest is digital. Fewer and fewer consumers (with a few exceptions) want to actually come inside and visit your brick-and-mortar locations. They want the ease and time-saver of doing it from their tablet or phone. This means you need to position virtually all of your products and services on some type of digital platform in such a way that members can quickly and easily interact with them.
Take a look at your product offerings. When you set up those twelve different checking accounts a decade ago, it probably looked like a pretty good idea. Now, consumers are so stressed for time that the chore of reviewing your dozen options is simply overwhelming. People want short, sweet and concise. You may want to consider actually downsizing your products and services, even (gasp!) eliminating some consumers are simply no longer using. This is one of the most difficult things for a lot of banks and credit unions to do — eliminating products and services. But to be “food on a stick” for your consumers, you may have to cut things.
Another great way to find that unique “food on a stick” ease for your consumers is to actually ask them what they want and need. All too often, bank and credit union executive teams and marketers assume they know what consumers want when in reality, they are far off-track. When you’re trying to sell a product or service to someone, it makes sense to ask them if it meets their needs. If not, realign your offering in such a way that makes sense to the consumer.
While your financial institution may never attain the absolute ubersexiness of deep-fried alligator bites on a stick, you can go for that same feeling by offering your consumers ease and convenience in your product and service offerings.