I finally found my perfect ride. Next: the perfect car loan. I have excellent credit and several existing banking relationships. And I know many bankers through social and community activities. So I felt confident that I could get a good rate with a trusted institution.
Here’s what I learned along the way—and what it means for your bank.
If you’re working to build your retail business, you have a lot in common with many companies in the malls and shopping centers. There’s more competition than ever from across the street and across the globe. The successful retailers are innovating, building their brands and creating special promotions that make lifelong, loyal customers.
Innovative bankers can borrow from those successes to welcome new business.
While we can expect a huge wealth transfer in the next two decades, senior citizens still have the lion’s share of the wealth in America. And while bankers are looking ahead to better serving millennials and Gen Z consumers with technology and a disruption of the old banking model, they can’t abandon the old model entirely.
If Grandma's not happy, nobody's happy.
Just like the Marine Corps or a corps de ballet, people in an elite, high performance bank are in step. They have solidarity of purpose and movement. And working together, their brand is nearly impossible to defeat.
That healthy financial brand starts with aligning purpose, processes and the people inside of your institution.
A healthy corps = a healthy brand
Many of your millennial audience will trust people they barely know on social media for financial advice. Why are they not coming to you with their questions instead?
While your bank has many resources, much of what you’re advertising is related only to products you have to sell. But your most valuable asset is trust.
