In the fourth quarter of last year, many credit unions were developing big plans for what 2023 would look like. Whether you were working on strategic plans to launch a new product or streamline your processes, chances are you had big dreams for what this year would hold.
But, as we’re now more than a month into the new year, it’s time for reflection. How many of the action steps for your strategic plans have you put off? Has the urgent sucked the time from the important? Has declining income driven fear into the hearts of credit union leaders regarding the 2023 investments that were part of your strategic planning last fall?
It’s time for a fresh perspective.
What if we focused on outcomes rather than expenses? What if we shifted our focus from the budget line item to the results? What if you just said ‘yes?’
Yes to investing in your credit union’s future.
Yes to providing better and more services to your members.
Yes to offering help when people are steeped in financial uncertainty.
Your credit union website can do all of these things and more for your credit union and your members. Outcomes include an easier-to-find, easier-to-navigate website that members will love; the potential to increase members, loans and deposits with clear calls to action for members to follow and learn more; and increased brand awareness with improved search engine optimization and brand equity from helpful blog content members can used to take action to improve their situation.
But that sounds expensive, doesn’t it?
Remember, we’re not looking at expenses right now. We’re considering return on investment – outcomes. Start by defining your goals, like building your credit union brand during difficult economic times, so you and your members come out the other side stronger. You could also plan to increase leads and sales through your website. A good credit union website design firm will know credit unions and take the time to understand yours.
Now that you’ve set objectives and projected your goals for a new website, we can consider the necessary investment. HubSpot reports that the average investment for redesigning a simple website, which most credit union websites are, can be around $15,000. How many new services or loans per month would it take to recoup that investment? The rest is your credit union’s profit to return to the members again and again!
So, how are your big plans for 2023 coming? Is there something you’ve been putting off because the time or expense seems too much? Turn that thinking toward outcomes. Put results first, and that can be just the motivation you need to say ‘yes!’If one of those projects you need to get off your plate in 2023 happens to be a new credit union website, uncommn is the partner to help you save time and money with our proven processes, people and results. Get uncommn.
