I was talking with a friend the other day, and she had a real-life marketing challenge. I call it "The Case of the Unbalanced Balance Sheet."
Apparently, the credit union's senior staff meeting came and went, and my friend was still having trouble balancing her profitability in the MCIF system. Frustrations were mounting throughout the organization. While everyone wanted to be confident in the numbers, there was little she could do if they didn't balance to the general ledger. They began talking about removing the MCIF. That's why I was called. You see. I solve Marketing Mysteries.
Using the tool of my trade, an MCIF, I undertook a cursory exam of the crime scene, which involved understanding the formula used for profitability within her MCIF. Only then could I compare it to the results. It was there that I found the breakthrough I was hoping for. It was right there all along. All I had to do was open my eyes. That's usually how it is in my business.
Facts Were Clear
The facts were clear. You see, some MCIF systems provide great latitude and flexibility in setting up profitability, while others are very rigid. My friend had the latter. If she were given the ability to simply eliminate closed accounts and account for other non-loan/deposit assets and liabilities, she would match her income statement numbers almost exactly. Inability to control how profitability is calculated at an institution.now that is a crime. She said that she could handle it from there. I thought so too.
If you have the tools of the trade, an MCIF, then finding the answers is easy.
About the Author:
Jay Kassing is the President of The Centrax Group, a marketing, CRM, and compliance software and consulting firm. He can be reached at (800) 365-4274 or jayk centraxgroup.com.
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