Deposit Growth Without Begging or Discounting—Here’s How the Top 1% of Banks Do It [VIDEO]
Why paying for deposits destroys margin—and how elite banks grow core deposits without rate gimmicks.
Welcome to the Top 5 Percenter™ Blog
Triage for Bankers: Find the Pain and Fix It
Anybody who walks into your bank has got a real problem. People without problems don’t wake up in the morning and say, “Today is a good day to spend talking to a banker,” any more than they would decide to talk to a doctor for kicks. People without problems have better things to do with their time.
The very fact that potential clients are either taking your call or calling you says they have something on their mind. That’s the pain, and your job is to find out what that pain is. What pain would cause them to make a change? Knowing that will give you everything you need to complete the rest of the sales process.
If you don’t uncover your prospect’s pain, all you have is a prospect who is intellectually curious but not economically serious. Until you start poking and prodding, all you’ll get is a casual conversation—and YOU have better things than that to do with YOUR time.
Make it your main goal to discover all the things your prospect would like to be different—or better—in their current financial business relationship. Uncover ways in which their current vendor serves them incorrectly. By asking pain-probing questions, you allow them to reveal the improvements they want. This also takes the pressure off you to talk in any depth about your pricing or about why they should consider your company.
Realize that when you approach prospects about a possible relationship, the prospect sees you as an agent of change. They know you want to talk them into changing their behavior. And what do we know about human beings and behavior change? They hate it! But once the pain has been identified, you become the source not just of change but of relief.
More From The Blog
News Flash—Markets Don’t Dictate Premium Pricing [VIDEO]
Banks don’t lose margin because of the market. They lose it because of belief systems that keep them competing on price.
Higher Net Interest Margin With Less Risk – Fact or Fiction? [VIDEO]
Most banks chase NIM by matching rates. Top banks raise pricing by changing positioning. Here’s how they do it.
Rate Risk is a Big Risk—Play Smart [VIDEO]
Guessing interest rates is not a strategy. Here’s how top community banks remove rate risk and stay profitable.
Why Community Banking Matters—Especially at Christmas [VIDEO]
A Christmas reflection on why community banking matters—and why your leadership impact extends far beyond transactions.
Life in the World of Over-Regulation [VIDEO]
Top banks don’t complain about regulation—they execute around it. Here’s how the elite outperform anyway.
Why Is It So Important to Hold On to Low Cost Deposits [VIDEO]
Low-cost deposits are the ultimate margin advantage. Discover how top 5% performers attract them consistently—and why most banks fail to compete.
Can Strategic Thinking Be Taught or Nurtured [VIDEO]
Banks don’t fail from a talent shortage—they fail from a thinking shortage. Discover how critical-thinking systems like the SIR Formula build your future executives now.
A State of Gratitude [VIDEO]
A powerful Thanksgiving message on how gratitude shifts leadership presence, reframes pressure, and strengthens your bank’s performance culture.
How to Tie Everyone to Profit [VIDEO]
Most employees believe they’re top performers but can’t show how they drive profit. This episode shows how to tie every role to the bottom line, boost profit per FTE, and build a high‑performance culture in your community bank.