I spent last weekend at a four-day music festival and had a marketing realization.
This festival had more than 160 bands (Competition) playing on seven different stages (Location and Access) for more than 20,000 people (Prospects). Each band was paid for the gig, but they all wanted the largest possible crowds to build their fan-base to sell albums, merchandise and tickets for future shows (Strategic Objective).
There were headliners that most everyone knew. These were the bands that had bigger budgets, recording studios, promoters, expensive lighting, played on the main stages and drew huge crowds without even trying … kind of like Bank of America, Wells Fargo and Chase. But, most bands were like you … little known, fewer resources, playing for much smaller crowds on smaller, out of the way, stages.
Within this “you-sized” group of bands, I noticed two different mindsets. Interestingly, I’ve also noticed the exact same mindsets among community banks and credit unions around the country.
Bands feed off the energy of the crowd. Imagine taking the stage, on a hot Friday afternoon, to a nearly empty field of only 50 people. You could simply do your job, collect your fee for showing up, play a half-hearted set to these 50 people, pack up your gear and head home.
Or, you could play your ass off!!! Rather than feeding off the audience’s energy, make them feed off YOUR energy! Put everything you have into every single note. Get the crowd engaged. Give them something to talk about.
I’ve watched bands start with fewer than 100 people, work their ass off and end their sets with packed fields. These same bands are talked about on social media, “Did you see…?” They are followed. Their merchandise and albums sell. And, over the years, as their loyal audience grows, they earn larger stages.
I’ve walked into community banks and credit unions who get few people in the lobby. They could just show up, do their job, collect their Friday paycheck and never grow.
Or you can work their ass off!!!
Put everything you have into every single customer interaction. Get customers engaged. Give them something to talk about.
I’ve watched institutions start with a few customers, work their ass off and grow. These same institutions are talked about on social media. They are followed. Their products and services sell. And, over the years, as their loyal audience grows, they earn more market share.
We can’t rely on the energy of others to determine our success. We need to be the energy that the rest of the world feeds off of.
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