FINANCIAL MARKETING INSIGHTS
How a hound dog and a handshake bred enduring loyalty
My father-in-law Ralph was a WWII veteran and serial entrepreneur. Over his 94 years, he owned a night club, a dry cleaning shop, a demolition business—and more. He was an excellent negotiator and he knew how to lead and inspire a team.
And he knew first-hand the value of a strong banking relationship.
What Dale Carnegie and Beyoncé can teach bankers about relationships
Almost every community bank will boast that they know their customers by their names. But do you really?
And do you teach your bankers to go further than just recognizing familiar faces and say customers' names out loud? It might be a little old school - but it will be music to their ears.
I make a mistake, I pay. You make a mistake, I pay?!
I talk about banking with a lot of people. So last month, someone told me about accidentally hitting “submit” on an ACH twice. Fortunately, a banker called right away to inquire about whether it was a duplicate and got it reversed. There was a $30+ charge for that fix, but it saved some money and hassle in the long run.
Now, compare that to an accident the bank made on this same company’s credit card accounts.
Better business development starts with heartburn
When a business development team gets charged up and ready to call on prospects, they’re often so eager to talk, they forget to find out about what’s keeping the prospect up at night.
Leading with what you have to offer is wasting that precious appointment you finally booked. Start with your prospect's pain and you'll have a much more productive conversation.
How to pay more than lip service to your brand
Many financial institutions struggle with differentiating themselves in this commodity-mindset industry. “We need a new slogan,” they say. And, “let’s talk about our great service.”
Service is not a position and you’ve got to pay more than lip service to your brand.
