What marketing input should I solicit from the Board of Directors?

• Position: MARKETERS' FORUM - Excerpt

Below are excerpts from a recent online question-and-answer session conducted by marketers who participate in the ABA Marketing Network's Online Community.

QUESTION:

I was recently appointed as marketing officer of our bank and am working to put together a marketing plan. I would like to get input from our board of directors on their thoughts concerning the bank's marketing. If you include board input, how do you get the information? Does anyone have a survey that they have used for this information?

Kim Henderson

Mutual Savings Bank | Franklin, Tenn.

RESPONSE:

When I Seek Board Input, I Ask to Be Placed on the Board Agenda

In my various positions I have related to the board in different ways. My first bank had a board marketing committee which met quarterly and provided input into just about everything marketing did. That was a widely held bank and so that was appropriate for governance.

My second bank had a marketing committee, but because I was very seasoned and the CEO wanted to exercise more executive control, and because it was a family-owned bank and the CEO shared controlling interest, that was appropriate. After a couple of years, we disbanded the marketing committee because there didn't seem to be a need.

Now, when I want board input, I ask to be placed on the board agenda, and I take my topic directly to them for a very focused discussion. I plan carefully what I want to share, what responses I need, and what I will do with the responses before I get them. I create expectations for them and tell them how I will follow up.

I have used surveys, which are nice in that it gives the more thoughtful members time to think and respond, but we have a large board and not everyone does so. If you go this route, keep the survey short and simple, and be sure your questions will provide you the information you need to move forward.

Between the two, I think the 15 minutes at the board meeting is better. If you're new to bank marketing, I suggest the ABA School of Bank Marketing and Management. As a graduate, what I learned there has been invaluable and it taught me the business of banking so that I can participate as an executive and contribute to strategy. It gave me confidence to work with the board and lead.

Peggy Hudson, CFMP

American Trust & Savings Bank | Dubuque, Iowa

QUESTION:

We Have One Board Member Represented on the Marketing Committee, But We Would Like Input from Other Members

Thank you for the input! We have started a marketing...