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[VPs] oGX + FIN + MXP Synergies
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FIN and MXP
Though Marketing is the most important synergy for oGX, FIN and MXP shouldn’t be ignored.
Finance synergy can be used to bolster and scale your oGX operations, while a strong MXP synergy can boost your exchange results by selecting and training high quality oGX members.
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Meeting Cadence
FIN and MXP meetings don’t need to occur as often as MKT synergy meetings. We recommend holding them biweekly, monthly, or as a smaller space within EBMs.
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Finance Synergy
FIN Synergy Basics
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Finance should be reporting on your LC’s bank balance each EBM and opening discussions about expected revenue, fundraising avenues, and potential expenditures as an LC.
FIN Synergy Meetings
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For your first FOGX meeting, you should discuss:
FOGX - Discounts and Promos
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Promotions and discounts regarding oGX exchanges: Bring a friend, Black Friday, and IR Partner discounts are the most common discounts our LCs generally use.
How much should the discounts be? How many exchanges do you expect as a result of said discounts? What is the expected income from those exchanges?
Remember: discounting an exchange is not an LC expenditure - just a decrease in revenue for that exchange. Promotions like this should see enough of an increase in exchange volume to offset those individual exchange revenue decreases.
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MXP Synergy
MXP Synergy Basics
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MXP should keep track of your oGX members’ performance. This comes in the form of checking marketing activity attendance, exchange numbers, goal achievement, and overall morale.
You should be communicating with MXP whenever one of you notices a dip in member performance and to come up with ways to improve member performance (even for the best performing members!)
MXP Synergy Meetings
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When you meet with MXP, you should:
Recruitment
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Any good oGX team needs high quality members. What if you could get high performing members the second they join AIESEC? With a strong MXP OGX synergy, you can!
Before recruitment starts, you should have a member persona created with MXP.
When you get Recruitment Applicants, read their application! Why would they be a good or bad fit for your team?
MXP Notes
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Both you and MXP should have deep knowledge of each of your team members. You should have an understanding of them performance-wise, while MXP should understand them in terms of goals, aspirations, and work styles.
Having regular conversations regarding your team members is the only way to identify where things may eventually go wrong before they go wrong.
Remember: get direct feedback from your team members! If you see a problem forming, ask about it! Inviting team members to an MXP-OGX meeting can also help deepen the discussion regarding performance.
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MXP and FIN Synergy
Overlaps between FIN and MXP
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There are three main intersections between oGX, Finance, and MXP:
Rewards and Recognition (RnR), Conferences, and IXP.
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oGX
FIN
MXP
Exchange
discounts
Team performance
LC RnR
Team RnR
Conferences
IXP
Rewards and Recognition (RnR)
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Rewards and Recognition a system where members are rewarded in both intrinsic and extrinsic ways.
Rewards are transactional. It’s any gift that may incentivize a member in performing better. This could be an Amazon gift card or a free dinner.
Recognition is personal and includes praise or gratitude for achieving certain criteria.
Conferences
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Conferences are a key part of a member’s development process, and a valuable part of the AIESEC experience as a whole.
Generally, LCs don’t have a large enough budget to send every member to every conference for free. This is especially the case for LCs with a low or negative bank balance, as LC funds must be used sparingly.
As FIN-OGX-MXP, you should be discussing:
Conferences - ROI
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ROI for Conferences may be tricky to pin down. Usually, the ROI is delayed or not necessarily a financial ROI. This is why it’s important for MXP to also understand what positive return is for their membership.
Spending $250 to cover one oGX member’s conference fee may seem like an unnecessary expenditure. However, if, at the conference, that member better connects with oGX as a function and ends up doing two oGV exchanges by the end of the semester, your LC has just gained $560 from those exchanges. Therefore, the ROI of sending that member to a conference had a positive impact.
Similarly, for MXP, sending members to conferences can help with pipeline and membership engagement issues. An oGX member that otherwise didn’t care much about the organization may be inspired to run for a VP oGX position in the future.
IXP (Integrated Experience)
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IXP is when an AIESEC member also goes abroad through an AIESEC exchange.
Benefits of an IXP exchange combines aspects of the previous two categories:
First, IXP discounts can and should be used as part of a broader RnR strategy.
Second, the benefits of an IXP may not be initially understood. If a member goes on an oGV exchange, that member will be much better equipped to talk about the AIESEC experience to future EPs.
One of the most common questions EP managers are asked is “have you been on an exchange before?” being able to answer yes and talk about your personal experience greatly increases the likelihood of an EP approving.
Conclusion
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As a VP oGX, always keep in mind how Finance and MXP can improve your results.
Discussing your numbers with them on a regular basis, even during EBM, can yield incredible results for your LC later down the line.
Do not ignore Finance and MXP!!!!
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Thank You!