…..after a while.
Humans are complicated. Centuries of study and billions upon billions of dollars into scientific research have resulted in some insightful discoveries about how people think, why we act the way we do, and the factors that influence the choices we make.
One of those countless discoveries (at some point in history) was that someone eventually defined ‘boredom’ as the point at which the ‘status quo’ begins to suck. Well, it could be that no one has actually ever defined boredom in that way….so let me be the first to do so if that is indeed the case.
The best companies in the world are usually pretty good at determining when their customers might be bored with them. And once they’ve recognized this, they act. The ‘status quo’ has become a liability and that is simply not acceptable. So they modernize, renovate, develop, invent, innovate, rebuild, restore, and refine. They find the resources to do this. They are willing to deal with some pain in the short-term because they know that the long-term benefits of their efforts will pay off. They do all of this without abandoning the core values that make them great in the first place. They act because they realize that customer loyalty is a priceless gift and bored customers may give up their allegiance to a specific brand or organization in search of something new and exciting.
Many credit unions might be at the point where they are stalled, stuck, or even bored. There is nothing new. There is nothing exciting. More members are leaving the credit union than joining the credit union. Employees are in a rut. Morale is low. The website hasn’t been changed in years. Walking into a branch is akin to taking a step into the vast abyss of irrelevance and mediocrity.
Are credit unions willing to accept that eventually the status quo begins to bore their members? And are you committed to doing something about it? And do you understand that what is new and exciting today will become the status quo of tomorrow – and that too will suck and you will have to reinvent again?
Ask anyone what they think about the first iPad now. Chances are there are plenty of people that will say it sucks.