Having diverse experiences can often lead to better problem-solving and innovation compared to hyper-specialization. In the book Range, there is a cognitive psychological problem that shows how analogies from different fields can help solve complex issues. Applying this to financial services, David suggests that organizations should leverage the diverse backgrounds of their employees to enhance creativity and problem-solving.

Businesses should conduct skills assessments to identify all experiences within their teams and form cross-functional groups to tackle challenges, help customers, and ignite innovation.

Notes:
🤓 Why people with a wide range of experience can outperform those on specialization. 01:02
🤔 Problem by Carl Drucker: cancer patient issue. 01:45
😇 Bankers are coming from different fields: gather the database of all experiences within your institution. 05:15
🌟 Skills assessment is very useful for creating cross-functional problem-solving teams. 08:02

Links:

Book Range: https://www.amazon.com/0735214484

Email David: david@davidpeterson.com

Connect with David: www.linkedin.com/in/dlpspeaks

Learn more about David: www.davidpeterson.com

Consult with David: www.i7strategies.com

Sail with David: www.i7sailing.com

Your business’ virtual and physical services must be aligned. The frustration caused by the mismatch in data synchronization between these two is huge and should not happen in this day and time. Businesses must ensure their virtual and physical operations are aligned to provide reliable and accurate information to customers. This can be fixed by having an automated routine that regularly checks, multiple access points that you're offering to your customers and validates that the information is in sync.

Notes:
✈️ David’s experience at the airport: how often does a service-oriented business have a sync mismatch between its virtual and physical operation? 00:58
🤯 When the mobile app and online dashboard show different banking balances. 03:15
⚠️ Checking if your data are in sync. 05:35

Links:

Email David: david@davidpeterson.com

Connect with David: www.linkedin.com/in/dlpspeaks

Learn more about David: www.davidpeterson.com

Consult with David: www.i7strategies.com

Sail with David: www.i7sailing.com

We often make decisions using our emotions, but financial decisions are more likely to be better and more useful if we make them by using our heads. Behavioral science and storytelling can help with crafting the right messages to customers that will regain their emotions and take good care of them in the financial world. How science can help in attracting and acquiring new customers?

Notes:
😍 Are emotions important when making a decision? 01:01
🤓 How young people make decisions: emotions can be bad for banking decisions. 02:59
🤯 Younger customers are using alternative payment services: emojis as reasons to choose bank service. 03:26
🧠 Stories activate the brain: using storytelling to help your customers to make good financial decisions. 06:05
🎯 Marketing crafted based on behavioral science: affirmation and support that will appeal to clients. 08:20

Links:

Article: https://thefinancialbrand.com/news/bank-marketing/how-behavioral-science-gives-bank-marketers-a-leg-up-acquiring-customers-153126/

Email David: david@davidpeterson.com

Connect with David: www.linkedin.com/in/dlpspeaks

Learn more about David: www.davidpeterson.com

Consult with David: www.i7strategies.com

Sail with David: www.i7sailing.com