bd for extreme growth

Leading2Leadership

Business Development For Extreme GrowthA Case Study

The Catalyst• M&A Strategy derailed• Dissatisfied with incremental growth• Needed to do something different

Challenge: BD a Growth Lever

• Lots of SEGs to manage

• Small employer groups• Lack of SEG employee

engagement• Struggles with the SEG

HR filters

Historical Results

• Slow member growth (3%)

• Incremental balance growth (4.5%)

• Low employee engagement

What was needed

• Growth that would meet our goal to be $3B

• Extreme member growth

• Extreme balance growth

How?

• Larger employer groups

• Compelling solution to create employee engagement

• Tactics to cross sell

Steps

• Create a strategy• Build an

implementation plan• Design a staff model• Establish a

compensation plan

The Strategy

• Grow members and balances

• Engage new SEG employees so they look like our existing members

• Target employer groups of 500+ employees

The Implementation

• Definitions• Set goals• Design job description• Design Comp Plan• Hire/assign Staff• Identify target markets

• SEG• SEG Tiers • New Member

• Existing Member• Balance growth• SEG Member

Set Goals

• Know – Where you want to go– What you want to

achieve– What the end looks like

Job Description

• Helps you– Hire the right skills– Right personality– Right motivation

• Designed to – Drive the right

behaviors– Get the right results

Compensation

• Know what results you want

• Compensate to get these results

• Make it performance based 80/20, 70/30, 60/40

• Balance– Fitting the person to the job– Fitting the job to the person

Identify the Market

• What is a prospect1. Size of group

2. Make up of group

3. Accessible

4. Approachable

5. Has an identifiable need

6. Willing to solve

How

• Product offer that HR was struggling with (H.S.A.)

• Large employer groups– One America – 1400 FTE– Archdiocese of Indianapolis – 6000 FTE– Angie’s List – 1600 FTE

Year One Case Study results• Member growth 22%

– 19% attributed to new employer groups added in 2013

– 9% in second year attributed to new employer groups added in2013

– 47% employee penetration with SEGs added in 2013• Balance growth

– Deposit $535K – Loans $745K

• Checking adoption – over 80%• Products per HH – 1.98

Year One Case Study results• 70% new members from new SEGs• 60% of balance growth from new SEGs• Year 6

– $14M in deposit balance– $26M in loan balances– $190K profits– 2.33 PPHH

Rich JonesRich0747@comcast.net

720.256.4936