Team selling is the new “it.” But most banks get it all wrong, sadly. They think team selling is “I send Joe out with Susie, and Pat goes out with Jane … and everything is good.”
That is not team selling. Harvard Business Review had an instructive research-based article making the case that team selling is clobbering the traditional Maverick model.
But, hey, to get better results, you’ve got to do the team-selling process correctly, right?
We all got away in 2020 with not having to be out there calling on people all the time because we’ve been waiting for things to go back to normal.
For customers to walk into our lobbies again…to go back to the way it was.
But it doesn’t seem to be going back very quickly and certainly is never going to go back to the way it has been.
In every recession, the same things happen. Deposits get difficult. Everyone’s fighting over those same dollars. They all need deposits. Regulators are coming in. They’re cranky, and they’re writing up banks. There are liquidity issues. Everybody gets desperate and tries to find deposits, just when they’re hardest to find. That doesn’t seem like a good strategy to me. (more…)
Low-cost deposits are “it.” Having large, sticky, low-cost deposits with a large amount of cross-sales solves a plethora of problems.
When you increase your core deposits as a percentage of total deposits and have that metric continue to move up consistently and stay up, well…in the banking world, we call that the meaning of life.
As rates go back up and as the world gets a little bit crazier, it’s important to make sure that your bank has all the deposits it needs, and that you’re not paying through the nose or having to match rates as they’re going up.
I just did a seminar today where I asked people, “What’s your biggest challenge?” “Accountability” always seems to be number one whenever that question is asked. No matter the bank—it seems to be universal. (more…)
Challenging times can be overwhelming. They can also be times of great opportunity for those who stay awake.
First, we have to change our way of doing things and discover—or rediscover—the ability to systematically pull in the very best new customers at premium pricing.
There was a day when customers used to walk in your lobby—those were good days.
They loved you. They loved your people; your people would know how to greet them by name. They would be in relationships, sometimes they even hugged. Life was good.
Now they’re not walking into your lobby, and they haven’t been for pretty close to a year. After a year of only being connected by having an email sending out a statement, you’re pretty disconnected from a lot of your customers.
It’s a new year.
Now, the question is, what are you going to create in 2021?
Here’s an effective way to create your best possibilities for 2021.
Ask yourself this: If it’s the beginning of 2022, and you’re looking back, what do you wish you would have done in 2021 that would have catapulted you ahead? (more…)
There was a day, back when I started as a commercial and agricultural lender, that we did everything. We did the channel checks; we did the credit analyst work; we did the business development; we did the account management. We did it all, and we collected the loans. Those days are over (more…)
I don’t know about you, but I loved the movie The Founder, probably because I’ve been a systems thinker all of my life, and I truly believe there’s one way that’s the best way to do everything. I believe that when you obsess over how to get the fastest way from A to B in everything that you do in your business, things begin to really shine quickly. (more…)
Taking Ambitious Community Banks to a 
