Care to share your member's wallet?
Posted by Norma Garza, AVP Remote Transaction Resources, Credit Union Resources, Inc on 4/16/2014

In preparing to write today’s blog, I was taken back to a school assignment I recently completed pertaining to Google Inc. and its’ competitive advantage. While Google Inc., a globally recognized internet company, has its’ humble beginnings rooted in the world of search engine optimizers (SEOs), its short 15 years of existence brought about a world-wide recognized brand coupled with the very term “Google” inducted into the Oxford English Dictionary and Merriam-Webster Colligate Dictionary in June and July 2006, respectively.   Google, Inc. was founded by a couple of Stanford University grads, Larry Page and Sergey Brin, with a vision and a mission simply known as, “…to organize the world’s information and making it universally accessible and useful”. 

In addition they have a philosophy founded on “the ten things they know to be true”.   A philosophy, according to Google Inc., that management visits on a consistent basis and is used as the barometer to manage and conduct business for the ultimate goal of meeting the end users’ needs.  As such, their growth came about by word of mouth as more and more users begin to realize and compare the speed and accuracy of Google’s search engine capability. And what’s even more impressive is the fact that they didn’t even have direct contact with the end user.

Fast forward 15 years and not only has Google sustained its’ ability to remain one of the top, if not, the top SEO leaders but it has grown into a company with many, many facets; and facets all revolving around the digital world of the internet.  Bottom line the very notion of simply wanting to make life easier for the end user is what makes this company the success that it is today. Albeit they positioned themselves on solid financial footing early on based on their advertising strategy which resulted in the lucrative financial position to innovate, test the waters  and expand their services into the likes of Google Chrome, Google Map, Gmail, and YouTube, to name a few.  And the preceding expansions were made possible because of the innovative culture within organization. 

Although Google Inc. is a global company, it is interesting to learn that this hugely complex and impressive international company has never wavered from its’ principle mission and philosophy and at every turn has remained true to ultimately serving the end user more efficiently and effectively.   That said the takeaways from this project have been the realization of:

1)      First and foremost the most important of their “ten things they know to be true”, which is “Focus on the user and all else will follow.”

2)      Utilizing partnerships that enhance and promote the company’s values, mission and vision towards end user convenience, access, and loyalty.

3)      Ensuring that employees utilize products and services for first-hand knowledge of needs, wants, desires in products/services.

4)      Promoting employee innovation and creativity.

At this point you may be wondering and asking, “…why a blog on Google Inc. it’s not a very applicable topic?” I would response by saying that the takeaways are definitely applicable. In addition, I would recommend taking note of Google Wallet. As a mobile app Google Wallet is gaining ground.  Google’s ability to partner up directly with retailers, e.g., Macy’s, FootLocker, Walgreens, Toys R US, The Container Store, and Subway to name a few afford both parties the opportunity to offer convenience and access to their loyal base.    

Are you prepared to give up any more of your member’s wallet share?

Categories: Business Partners, Remote Transaction, Sales & Service, Strategic Planning & Consulting, Technology Consulting & Compliance
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