Great Dashboard! Does It Actually Boost Growth?

Welcome to The CU Leadership Mixtape, the newsletter serving up insights and takeaways from our Grow Your Credit Union podcast. Here, you'll discover fresh perspectives and practical tips from leaders in the credit union movement. Join the community to learn, grow, and stay ahead.

The Challenge You Face

Credit union leaders struggle to become truly data-driven, even with access to large amounts of information. The key hurdle is not gathering data, but knowing how to ask the right questions that lead to actionable insights.

Without a clear focus on aligning teams and leveraging data to drive meaningful outcomes, many credit unions risk being stuck with impressive dashboards that fail to move the needle on growth and member engagement.

What Credit Union Leaders Are Doing

"People get too hung up on the technology and the shiny object. You really need to start with the questions of what am I trying to answer here? Defining that is going to help drive your technology stack, whatever that is, whether you're midsize or small." - Ben Stangland

Ben emphasizes the importance of starting with clear questions rather than focusing on technology solutions. Instead of being distracted by complex tools, credit union leaders should first define what success looks like for their organization.

This approach will guide them in choosing the right technology that aligns with their specific needs, helping them move from data overload to actionable insights.

"We started with a question... It's continuing to drill down until you get to an answer that you might have to find a solution for.” - Becky Reed

Becky stresses the importance of starting with a key question and persistently drilling down into the data to uncover actionable insights.

Rather than being overwhelmed by the volume of data or complex dashboards, credit unions should focus on continually refining their questions until they find the root cause of an issue or opportunity, which then drives meaningful solutions and impact.

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Key Takeaways

? Start With The Right Questions

Before diving into data or choosing tools, credit union leaders should focus on asking the right questions that directly align with their goals. For example, instead of just tracking loan production, ask who needs loans right now and how to reach them.

? Align Your Team Around Actionable Insights

Ensure that all departments understand the importance of turning data into action. Create a culture where data isn’t just reviewed, but used to drive decisions and move the needle on specific objectives, such as member engagement or loan growth.

? Avoid The Technology Trap

Don’t get distracted by flashy tools or dashboards. Instead, focus on finding technology that matches your credit union’s needs and capacity. A tool that’s too complex or poorly aligned with your team’s capabilities will lead to frustration and inefficiency

? Drill Down For Deeper Insights

Continuously refine your data analysis by drilling down into metrics. If a campaign underperforms, ask deeper questions about the demographics, credit scores, or behaviors of the members involved, until you uncover the root cause and can take meaningful action.

Other Topics From The Episode

?? Having The Right Culture Around Understanding Your Members

?? Trusting Marketing Attribution Data

?? Listen To Ben's Episode

Listen To The Episode For More

?? Check out the latest episode of Grow Your Credit Union on Apple, Spotify, or Amazon Music

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Sources For Our Topics

?? B2B Marketing Leaders Don’t Trust Their Measurement, And What They Measure Isn’t Helping - Forrester

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Voices From The Community

Thank you Marisa Howard !

Like giving advice? Leave your favorite piece of advice in the comments below and we will pick a few juicy gems to include in next weeks newsletter.

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Artificially Intelligent Jokes

PROMPT: show me a credit union leader that measures too much.

AI:

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