When it comes to best practices, value trumps products everytime.

“I think the scope of business development in the credit unionindustry is growing more and credit unions are getting keenlyinvolved in developing viable business strategies that are becomingmore of an important part of their organization's overall strategicplan,” said Sean McDonald, chief marketing officer/director ofbusiness development at Liberty Savings Federal Credit Union.“There is a need to communicate credit union membership as abenefit as opposed to a list of products and their features.”

McDonald,who is also chairman of the CUNA Marketing & BusinessDevelopment Council, added that the worst thing to say to apotential client has to be simply stating that the credit union haschecking accounts.

“What they want to know is how is your checking going to improvetheir life,” said McDonald. “What makes your credit union differentthan where they currently have their account? You can't spend mostof your time talking products. You have to talk benefits how can itmake life better or easier.”

According to McDonald, the foundation upon which all businessdevelopment success has been built starts with therelationship.

“They won't listen to what you're saying if you haven't earnedthat trust,” said McDonald. “The way you do that is get keenlyinterested in them. It can't be about what you can do for them ortelling them what they need until you know who you're talking to.Concentrate on really building a relationship before you even thinkabout cross selling.”

He added that walking the “we provide great service talk” hasmore meaning and value in building lasting relationships thanstating it in a flyer.

“You can talk until you are blue in the face about how greatyour credit union is, but if the service doesn't reflect it, thenbusiness development goes nowhere,” said McDonald.

He said that has been particularly relevant to the traditionalquantity versus quality argument in business developmentdepartments.

“The fact is both matter. You can't ignore the fact that numbersare needed to bolster business development efforts to reflect whatyou put in,” said McDonald. “The balance is to provide the bestpossible service you can to as many organizations or people you canrealistically serve. Don't expect a staff of 10 to effectivelyserve 200 employee groups. Look at the staff skill and who can beserved in an outstanding manner, and be involved in the strategicplanning before any arbitrary goals are set. If not that then yourdepartment should at least have some input.”

He has found at the more successful credit unions, that type ofargument has become less of a debate the more involved businessdevelopment has been in the strategic planning process.

With relationships at the heart of effective businessdevelopment, McDonald said how they're built has as much to do withgeographic region as the vibe of local communities served.

“For example, bringing in donuts doesn't work for me,” saidMcDonald. “If I drop it off as just a gift, people here in urbanNew Jersey are naturally skeptical and will ask 'what's in the box,why are you giving this to me, etc. That may not be the casesomewhere else so your approach has to be true to who youserve.”

He added that his preference has always been more towardnetworking and being present at community events than donuts, coldcalls or even onsite visits.

“I think my time is best spent doing things like a chamberbusiness card exchange, that will help me build a relationship withsomeone,” said McDonald. “With onsite visits rather than set up atable with balloons I do workshops or a lunch and learn. Whenpeople see you sitting at that table their defenses immediately goup because they wonder 'what are they trying to sell.' I just feelthat you have to put in the time to earn the right to ask for theirbusiness.”

He said there has to be a shift from the traditional businessdevelopment mentality to identifying what actually resonates withthe credit union's audience.

“It's different for everyone, so if donuts help you get in thedoor great. If it's not resonating with your target audience stopdoing it,” said McDonald. “Another fundamental change in businessdevelopment departments and the credit union industry as a wholehas to be its aversion to the word sales. No matter how you put itbusiness development is about selling. To be effective at sellingit all starts with the relationship. I guess the bottom line ismake sure that you're doing something meaningful.”