Rich Jones, Principal Keys to an Outstanding ......2016 Spring Conference nefma.org Keys to an Outstanding Strategic Plan Rich Jones, Principal Leading2Leadership LLC 720.256.4936

nefma.org2016 Spring Conference

Keys to an Outstanding Strategic Plan

Rich Jones, PrincipalLeading2Leadership LLC720.256.4936 [email protected]@rich0747 - Twitter


strat·e·gy - noun• A careful plan or

method for achieving a particular goal usually over a long period of time

• The skill of making or carrying out plans to achieve a goal

Strategy


• A process of:– Defining strategy or direction– Making decisions on allocating

resources to pursue this strategy. – Control of the mechanisms for

guiding the implementation of the strategy.

So, what is Strategic Planning?


Why Do a Strategic Plan?

4


Ingredients of a Strategic Plan


Mission – Why We Exist• Coca Cola

– To Refresh the World

– To Inspire moments of optimism and happiness

– To create value and make a difference

• Starbucks– To inspire the

human spirit -one person, one cup and one neighborhood at a time.


The fundamental beliefs that guide and inspire us; and help to shape our behavior and culture.


Core ValuesThese statements “…become the deeply ingrained principle and fabric that guide employee behavior and company decisions and actions—the behaviors the company and employees expect of themselves,” says Eric Jacobson, a former executive who writes about management and leadership in Kansas City, MO. “Without a statement, the company will lack soul.”

http://ericjacobsonblog.com/


Core Values - Examples• Whole Foods – “With great courage,

integrity and love—we embrace our responsibility to co-create a world where each of us, our communities, and our planet can flourish. All the while, celebrating the sheer love and joy of food.”

• LL Bean – “Sell good merchandise at a reasonable profit, treat your customers like human beings, and they will always come back for more.”


Core Values - Examples• Starbucks – With our partners, our coffee and our

customers at our core, we live these values:– Creating a culture of warmth and belonging, where

everyone is welcome.– Acting with courage, challenging the status quo and

finding new ways to grow our company and each other.– Being present, connecting with transparency, dignity and

respect.– Delivering our very best in all we do, holding ourselves

accountable for results.We are performance driven, through the lens of humanity


Core Values - ExamplesZappos - 10 Core Values:

1. Deliver WOW Through Service2. Embrace and Drive Change3. Create Fun and a Little Weirdness4. Be Adventurous, Creative, and Open-Minded5. Pursue Growth and Learning6. Build Open and Honest Relationships with

Communication7. Build a Positive Team and Family Spirit8. Do More with Less9. Be Passionate and Determined10.Be Humble


Vision – What we want to be

• Starbucks – “To establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow.”

• PepsiCo - "PepsiCo's responsibility is to continually improve all aspects of the world in which we operate - environment, social, economic - creating a better tomorrow than today. Our vision is put into action through programs and a focus on environmental stewardship, activities to benefit society, and a commitment to build shareholder value by making PepsiCo a truly sustainable company.”

• Amazon – ”To be earth's most customer centric company; to build a place where people can come to find and discover anything they might want to buy online."

• Microsoft: "Empower people through great software anytime, anyplace, and on any device.”


Mission/Values/Vision - Fails

• Volkswagen – “Volkswagen Group doesn’t have an official mission statement. The closest statement that could be called VW Group’s mission is expressed as company’s goal: The Group’s goal is to offer attractive, safe and environmentally sound vehicles which can compete in an increasingly tough market and set world standards in their respective class.”

• General Motors - "GM’s vision is to be the world leader in transportation products and related services. We will earn our customers’ enthusiasm through continuous improvement driven by the integrity, teamwork, and innovation of GM people.”

• Peanut Corporation of America – “The company prides itself on the quality and freshness of its products and strives constantly to maintain an environment in compliance with federal, state and local regulations and guidelines to provide a clean, safe product”


Strategy – How we want to get there • Strategy includes:

–Directing organization’s attention on the need of winning

– Inspiring people by telling them that the targets are valuable

–Encouraging individual and team participation as well as contribution

–Utilizing intent to direct allocation of resources.


Balanced Scorecard – Measurement

• Set Milestones– Gather data– Refine plan– Align tactics

• Report to all stakeholders

• Learn from wins and misses


Implementation – What we need to do• List of projects• Prioritize• Milestones set• Due dates set• Funding needs

– Gaps identified• Resource needs

– Gaps identified• Roadmap from today to

the Vision


• What doesn’t get translated to individual action and expectations doesn’t get done!

Personal Plan – What do I need to do


Questions?


Building Your Strategic Marketing Plan


Review the Bank’s Strategic Plan• Customer growth• Balance growth• Improved shareholder

return

• Customer engagement• Branch profitability• Channel usage


Do a Marketing Audit


Interview Marketing’s Clients• Finance• Consumer Lending• Mortgage Lending• Business/Commercial

Lending• Card Services• Branch Operations

• Compliance


Learn Their Goals/Plans


Conduct a SWOT with your TeamStrengths/Weakness are internalOpportunity/Threats are external


Align your Plan With:

• Organizational Strategies• Internal Stakeholders• SWOT Discoveries


Create Your Tactical Plan• Quarterly Strategic Goals• Next Quarter Detail

• Annual Calendar• Quarterly projects


Tactical Plan needs to include:• Products focus• Channel focus• Specific measurable goals• Offer


Publish or Perish…


• Check in with your internal clients

• Discover what has changed

• Measure your campaigns and promotions

• Tweak your offers/List/Creative

• 40-40-20 Rule

Review


40%

40%

20%

ListOfferCreative

For Campaign/Promo Diagnosis

Diagnosing Marketing

Success


Questions?



LEADING2LEADERSHIP LLC

Rich Jones, Founder/Principal720-256-4936

[email protected]

Strategy – Marketing – Business Development – Business Intelligence – Sales – Leadership

mailto:[email protected]

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Rich Jones, Principal Keys to an Outstanding ......2016 Spring Conference nefma.org Keys to an Outstanding Strategic Plan Rich Jones, Principal Leading2Leadership LLC 720.256.4936