Insight into digital marketing and cross-selling trends for banks and credit unions.

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Insight into digital marketing and cross-selling trends for banks and credit unions.

Blog Topics
Published
May 29, 2014

Why Do You Race?

May is a month of races.  Horse races (two thirds of the Triple Crown happened this month – go California Chrome!), car races (the 98th Indianapolis 500 took place over Memorial Day weekend with an American winning for the first time since 2006), and running races.  The 35th annual Cotton Row Run took place this week right here in Huntsville, and I thoroughly enjoyed participating in the 10K race.

Did I win? Nope. Did I have a chance? Not even close.  It was humid, it was crowded, at times it was painful, and in the end I lost not only to all the pro runners that came but also to an 8-year-old girl. So why race?

The race was not with the 8-year-old or anyone else in the crowd.  The race was with myself.

I ran my first 10K in May 2013. I trained for that race for 4 months and ended up with my fastest recorded time for that distance and 1st place in my age group.  When I ran my next 10K in August that year, it was a bigger race, I had not trained as well, it was a hotter day, and I ran significantly slower (and subsequently did not place).  But did I give up racing? No way!  It took a little longer to get ready for the next one, but this week I ran in my third 10K.  I still am not back to the speed of that first race, but I accomplished my goal for this race: to beat my last 10K time and leave it all on the course.  Mission accomplished!

With customers I think a similar mindset is helpful.  Yes, you have to compete with others out there vying for your customers’ and potential customers’ business the same as you are.  The great advantage you have with your customers is just that: they are already your customers.  They have already picked you. So in the race to keep your current customers, the goal is less about beating out the competition as it is about beating yourself – giving more than you gave last time, offering a better deal, a better rate, better service; in short, delivering an experience/product/service as good as or better than you did previously.  With that kind of attitude and effort you are bound to win in the end!

So why do you race?