This 8-day plan is designed to help you get familiar with KEYs.ai in manageable, 15-minute daily sessions. You’ll review, practice, and apply each tool, ending with an opportunity to share your insights with your team. By aligning your learning with your financial institution’s (FIs) strategic goals, you’ll be ready to use these tools to make impactful, data-driven decisions.
Day 1: Overview and Strategic Alignment
Objective: Familiarize yourself with the KEYs.ai framework and connect it with your FI’s strategic goals.
Activity:
- Review the Guide: Spend time understanding each tool’s role in enhancing customer or member engagement, profitability, and growth.
- Reflect on Your Institution’s Goals: Identify which areas—such as retention, geographic expansion, or cross-selling—are top priorities for you and consider how KEYs.ai can support these goals.
By grounding your learning in your FI’s objectives, you’ll be better prepared to see how each tool within KEYs.al can be applied effectively to drive impactful outcomes.
Day 2: STAGE
Engaging Customers at Lifecycle Moments
Objective: Understand how STAGE helps optimize engagement by aligning outreach with critical lifecycle stages.
Brief Overview: STAGE segments customer or member engagement into lifecycle stages, such as the first 90 days, 90-180 days, and beyond, to deliver relevant interactions at each point in the customer or member journey.
Practice:
- Identify Lifecycle Stages: Consider where most of your current customers or members fall in their lifecycle.
- Develop Engagement Ideas: Jot down one idea for each lifecycle stage (e.g., a welcome message for new customers, loyalty rewards for those at 180+ days).
By meeting customers or members with the right support at the right time, you build trust, deepen relationships, and improve retention—laying the foundation for strong and lasting connections.
Day 3: FRAME
Targeting Demographics and Psychographics
Objective: Explore how FRAME uses data to enhance targeted outreach.
Brief Overview: FRAME helps identify customer or member segments based on demographic and psychographic data, allowing for targeted marketing and personalized product offerings that better align with needs.
Practice:
- Select a Customer or Member Segment: Choose a specific group (e.g., young professionals, families).
- Create Tailored Messaging: Think of a marketing message or product offering that would appeal to this group’s unique characteristics and values.
When customers or members receive relevant messaging that reflects their needs, they are more likely to engage and respond positively, which enhances both satisfaction and lifetime value.
Day 4: ACT
Creating a Strategic Action Plan for Growth
Objective: Explore how ACT offers a high-level roadmap for aligning efforts with growth and profitability goals.
Brief Overview: ACT provides strategic insights and KPIs, allowing you to create data-driven plans that align your FI’s initiatives with key performance goals.
Practice:
- Identify a Strategic Focus: Choose a priority area, like product performance or retention.
- Outline a Simple Action Plan: Based on this focus, draft one or two action steps that can help drive growth in this area, such as allocating resources to high-performing products or creating benchmarks based on peer data.
By consolidating and acting on data-driven insights, you ensure that each effort is strategically aligned, contributing directly to your FI’s success.
Day 5: CHURN
Minimizing Customer Attrition
Objective: Learn how CHURN can help reduce customer or member attrition by addressing at-risk relationships proactively.
Brief Overview: CHURN focuses on identifying drivers of customer or member attrition, enabling you to take proactive steps to address issues before it’s too late.
Practice:
- Identify CHURN Risks: List a few common reasons customers or members might leave your organization (e.g., service issues, lack of product variety).
- Design Retention Strategies: Create a simple retention idea for one of these risks, such as a follow-up offer or targeted communication to engage customers or members.
Reducing churn is a cost-effective way to drive growth, as retained customers or members are more likely to bring consistent revenue and engage with additional products, reinforcing long-term profitability.
Day 6: STICK
Deepening Relationships Through Cross-Sell
Objective: Understand how STICK encourages multi-product adoption and increases engagement by deepening customer or member relationships.
Brief Overview: STICK focuses on identifying opportunities for cross-sell and up-sell by understanding product mix and household potential, helping to increase lifetime value.
Practice:
- Identify Cross-Sell Opportunities: Think of two complementary products that could benefit your customers or members.
- Create a Cross-Sell Message: Draft a message promoting the additional product to customers or members who already use the primary one.
By offering relevant, valuable products that complement existing services, you can deepen relationships, increase revenue, and create a more satisfied, loyal customer or member base.
Day 7: MAP
Optimizing Market Area Presence
Objective: Discover how MAP supports branch placement and localized marketing by identifying areas with high growth potential.
Brief Overview: MAP analyzes demographics and financial behaviors within geographic areas to optimize branch presence and align products with local demand.
Practice:
- Select a Market Area: Identify an area your organization currently serves or wants to expand into.
- Develop Localized Campaign Ideas: Based on local demographics, think of one or two marketing ideas tailored to this area’s needs (e.g., promoting youth savings in a family-dense area).
Positioning branches and marketing campaigns strategically within target areas allows you to better meet local demand, improve engagement, and maximize market share.
Day 8: Sharing Insights with Your Organization
Objective: Reflect on what you’ve learned and share insights with your team to align efforts and encourage collaboration.
Activity:
- Prepare a Summary: Write a brief summary of your learning experience, highlighting any specific ideas or action steps you plan to take.
- Share and Discuss: Present these insights to your team or manager and encourage others to consider how KEYs.ai could enhance their own roles or projects.
By sharing your knowledge, you reinforce your understanding and inspire collaboration. Engaging others with the KEYs.ai framework supports a data-driven, relationship-centric culture within your institution, setting the stage for ongoing growth and success.