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.
During challenging times, the one thing you can count on is that desperate competitors and fly-by-night organizations are going to come in and try to take away your best customers.
Let’s face it, your top 100 customers, for any bank under $2-billion asset size, account for anywhere between 50 to 140% of your profits.
And you also can’t be matching the rate.
At the time of the inquiry, when someone calls in and says, “Hey, I’m one of your best customers, and I just got this offer from someone else and it’s looking pretty good,” is the time when your team member needs to get this exactly right.
Because if they stall, and if they say, “Well, we’ll take a look at that,” the assumption that the customer makes is, “Hmm, they’re probably going to work on giving that to me.”
Then, if and when you don’t, they will be disappointed—and that relationship is at risk.
It’s been important for a very long time for your team members to be impeccable about their sales processes and know exactly what they need to do to make sure that they conveyed the added value. Words like:
“Well, you get me,” and,
“We’ve been around a long time,” and
“Isn’t service worth something to you?”
…are not the kind of things that will withstand this kind of pressure.
So, take some time to reflect about what it is you’re going to do next to make sure your entire team is impeccable about knowing how to answer that question in a way that you know that you will not lose any of those customers that pay all your bills.
To your continued success,
Roxanne Emmerich
Low-cost deposits are the ultimate margin advantage. Discover how top 5% performers attract them consistently—and why most banks fail to compete.
Top banks don’t complain about regulation, they execute around it. Here’s how the elite outperform anyway.
Premium pricing isn’t a tactic—it’s a mindset. When belief is missing, margin and legacy are at risk.
When leaders tolerate excuses, excuses become culture. Discover how extraordinary bank executives shift employees from helplessness to accountability, confidence, and extraordinary performance.
Most bank strategic plans are loaded with goals but surprisingly short on actual strategies. Discover four shifts that align your plan with profitable customers, execution, accountability, and growth.
Forget templates. Roxanne Emmerich reveals how top banks burn the rulebook and build execution systems that deliver relentless results.
Roxanne Emmerich exposes the toxic lie behind most strategic plans—and the second-order thinking top banks use to pull away from the pack.
Your boardroom may be your biggest blind spot. Discover how elite banks fix strategy at the Breakthrough Banking Blueprint™ Bootcamp.
Great employees don’t automatically produce great bank results. Discover why Top 5% performance requires employees who understand profitability, create deeper relationships, command premium pricing, and become trusted advisors customers never want to leave.
Elite banks aren’t born elite. They build systems, practice the right behaviors, and continually sharpen how they create value. Discover what helps top 5% banks reach exceptional performance—and stay there.