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It's hard to believe that the first quarter of 2021 has come to a close. This year's first-quarter performance analysis will be slightly different from past years as the changes in channel delivery strategies are examined for growth, retention, and profitability. Chances are your organizational performance goals and the channels used to meet those goals are prioritized differently than they were a year ago. As you look in the strategic rearview mirror, it’s clear that the shifting member behaviors resulting from 2020 require a "fresh" review of your digital banking strategy. In the past, ongoing product planning and marketing would add additional features to draw members and prospects into a branch continuously. With the prioritization of the digital channel as the primary acquisition and retention channel in 2021, those strategies and resources allocated to the branch are probably shifting to your digital banking platform.

When reviewing your digital banking strategy, consider simplicity as a key strategy. There is adequate "floor space" to spread out the marketing and delivery areas to avoid sensory overload in a traditional branch. With that functionality compressed inside a digital banking application, those same branch elements can become overwhelming to the end-user. As such, ease of use and placement for both existing and new digital products is essential. A digital banking platform with too many navigation options and tabs, or overloaded and complex display of user data, will quickly become a frustrating user experience and may cause abandonment of by the user. The user experience (CX) is equally as essential as the digital product design (UX). The goal is a simple to use digital solution with a pleasant technology presentation (design) that is easy to use for members at any experience level.

From a usability perspective, digital applications that offer online and mobile access must have navigation, functionality, and product presentation that are harmonized between the delivery channels. Suppose a user shifts from the mobile application to the online application or vice versa. In that case, the experience needs to be consistent in both channels, creating ease of navigation and a friction-free experience. Just as the strategy of having the branch network look uniform among all locations promotes ease of use, the digital channel must create that same experience for both online and mobile components. This consistency among touchpoints is key to creating a digital user experience that will retain existing digital users while also increasing new user adoption.

If your credit union is embracing digital as a primary delivery channel, then there is probably a strategic expectation that the channel will increase sales. As technology has progressed, branch marketing efforts have evolved from simple posters to digital media boards, advertising offers on ATM/Kiosks, and cross-sell programs at the member level to inform tellers of specific individual offers to mention when performing a member transaction. The premise for the different in-branch marketing strategies is to offer multiple messaging options to match each branch visitor's presentation preference. This approach can present an overwhelming barrage of marketing messages and may have an adverse reaction of the member ignoring all the marketing.

If your credit union is embracing digital as a primary delivery channel, then there is probably a strategic expectation that the channel will increase sales. As technology has progressed, branch marketing efforts have evolved from simple posters to digital media boards, advertising offers on ATM/Kiosks, and cross-sell programs at the member level to inform tellers of specific individual offers to mention when performing a member transaction. The premise for the different in-branch marketing strategies is to offer multiple messaging options to match each branch visitor's presentation preference. This approach can present an overwhelming barrage of marketing messages and may have an adverse reaction of the member ignoring all the marketing.

As the first business quarter of 2021 has come to a close, your credit union is probably assessing areas of achievement and opportunities for improvement. As you prepare the second quarter, there will probably be continued refinement and expansion (the two are not mutually exclusive) of your digital delivery strategy. A critical factor in digital design is simplicity. Whether it is the navigation of the digital channel, the parity between the online and mobile components, or the layout/delivery of marketing campaigns, the result needs to create a consistent and straightforward user experience for the member. The lessons learned from the evolution of the physical branch layout and marketing strategies can offer valuable insight for the digital channel. The old branch strategy of "build it and they will come" proved to be a dangerous assumption. So is true with the digital channel, but you only get one "location" to get it right. Choose simple.