FINANCIAL MARKETING INSIGHTS
Stop calling on the usual suspects for your advisory board
Lots of community banks have an advisory board of 8-10 local movers and shakers. Some of these boards have diverse representation. Unfortunately, many are filled the usual suspects. If you want to stand the test of time, you must attract and retain the next generation of movers and shakers.
What tourist-y restaurants can teach banks about being sticky
I was a tourist in Branson, MO recently and as to be expected, had some sub-par experiences in the crowded restaurants. Many seemed perfectly happy offering mediocre food and sticky seats. They know I probably won’t be back, because some other stranger will take my place. They're just in it for today's dollar.
On the flip side, you actually want stickiness in your institution. You're in it for today's and tomorrow's dollars.
Bankers: how excellent service devalues your brand
I recently asked a variety of C-level people how often they were called on by a banker trying to get their business. I heard one thing that surprised me—and it’s not what you think.
Several said they don’t really need a loan, so they weren’t that interested in talking to a banker. Wait. What?!
16 easy ways to make commercial customers feel like rock stars
Are you making yourself indispensable to your business customers? Treat them like rock stars and they’ll have little reason to consider doing business with other institutions.
You don't have to stock their offices with M&M's (minus a certain color) and a special brand of sparkling water.
The surprisingly effective response to a customer complaint
I recently had trouble with a community bank’s technology and emailed a banker there to complain in what I hope was a polite—but very frustrated—manner. The response was swift and unexpected.
She thanked me.
