Evansville Teachers Federal Credit Union’s Andrea Brown tells us about her experience as an Advisory Team member for MDC’s Channel Maturity and Personalization projects:
Becoming involved in MDC has been a valuable experience for both me and my credit union. As the Director of Market Data at ETFCU, I am responsible for harnessing the power of our data and using that data to create internal efficiencies and deliver positive member experiences. MDC’s projects often directly correlate with my work and provide me guidance on how to improve our strategy. I have now been involved on two Advisory Teams and have really enjoyed the experience. I recommend all owners actively participate on Advisory Teams—you will receive valuable, actionable results that can be implemented directly into your credit union.
MDC’s Channel Maturity project kicked off in 2015 and results were presented at the August Owner Meeting later that year. This project aimed to answer three main questions:
1. What makes a channel effective ?
2. What capabilities are required for a channel to be truly above member expectations (mature)?
3. How mature are MDC’s credit unions?
This project’s results showed that MDC credit unions were performing at a level expected by the market in terms of capabilities. In addition to the analysis of MDC credit unions as a whole, I was also excited to get an in-depth analysis of ETFCU’s own channels. From that, my team and I were able to use the findings from this project to build a long-term strategy using the following steps:
1. Benchmark our capabilities across key channels to determine where we stand today.
2. Understand how to become more mature in our key channels based on real world, best-in-class examples.
3. Lay out a three-year roadmap with plans to improve our key channels.
We now have a precise and actionable strategic plan that we have already begun to implement. Our future is looking very bright thanks to the tools and insights gained from this project!
I was also a part of MDC’s Personalization Project which started at the end of 2015 and was presented at the 2016 February Owner Meeting. Personalization is a trending topic in the world of marketing right now so I wanted to be sure to get involved. For this project our goals were to first define what personalization meant for MDC credit unions, and then assess where owners fell in terms of personalization capabilities. Once again, I was able to see where ETFCU matched up with best practices and determine areas in need of improvement. Also included in this project was a Personalization Model—in order to successfully personalize you must: listen, learn, strategize, and deploy. This model will be a helpful tool to apply to ETFCU. I am currently sharing the lessons I learned and the tools I gained with others in my credit union. I’m confident we will be able to take these findings and apply them to our own personalization strategy, allowing us to create “warm and fuzzy” personalized experiences for our members.
I have been really happy with my participation as an Advisory Team member for MDC. The time commitment has been minimal, and the people I have worked with have been great resources. And not only do you get the first peak at project results, but you also get to help determine the direction of the projects in which you are involved. This is a really valuable opportunity to see a MDC project in all phases and learn along the way, and I encourage you to get involved with the next project that sparks your interest.
If you are interested in getting involved in any of our future projects, please contact our Director of Projects and Communications Sarah Lietz.