Niche approaches in business are my passion. I am enamored
by any business that demonstrates a tight focus within a niche market. More so,
I love it when a niche business finds a specific slice that no one else is
exploring. Morriss Partee, of EverythingCU.com, is one of those niche leaders.
Morriss is a pioneer in the credit union world. He started
EverythingCU.com as a way for credit union executives to come together and
share best practice in an online (and offline) community space.
The slice that Morriss and his team identified as a serious
need for his credit union customers is what they call the “Online Switch
Kit.” This kit helps a credit union
complete a painful process – getting a prospective new member “switch” from
their old account at another institution, for instance, a bank.
I’ll add some insights here. Credit unions and banks have a
relationship similar to Apple and the PC, Microsoft and Google, add your own in
here. So, if you can make it drop-dead simple and easy for a bank customer, who
is unhappy with the personal service levels, to switch to your customer-service
friendly credit union (note that they call them members instead of customers, by
EverythingCU.com figured this out pain point. Figured out
not where to offer vitamins to their credit union community, but where to offer
a painkiller to solve the problem. Make it so easy for a credit union to
convert and serve a member and everyone wins. His company wins new revenue, as
does the credit union that now can sign up a new member with speed and ease. Do
you know anyone who likes the idea of having to fill out tons of forms just to
get started in a business relationship? I wish Morriss was active in the
medical industry so he could help all those doctors in the world who hand you
the clipboard with 10 pages of forms. That is clearly an opportunity —
teaching doctors some business savvy. Patients could also be called customers
They offer two case studies of successful online switch kit efforts
on their website.
If you know of a unique program in the credit union world, or
in another niche industry, please click Contact link above or send me an email to
q4sales at gmail dot com.