The Antidote to Commodity Hell

If you’re feeling trapped in rate competition, you’re in “Commodity Hell”… and it’s not a fun place.

 

When your customers and prospects view you as no different than the bank down the street, you create a situation where retaining customers and attracting new ones is beyond difficult.

The first reaction is to blame the customers. You’ve heard it at banking conventions before. Someone will complain, “Customers don’t care about relationships anymore. It’s all about rates and fees.”

That’s backward thinking.

Yes, it is all about rates and fees if you don’t give the customer any other good reason to use in making their decision.

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5 Ways to Command Higher Pricing without Losing the Deal

Here Are Five Ways to Improve Your Bottom Line and Customer Satisfaction

 

1) Bundle your products so there are no apple to apple comparisons: “Our 7-year mortgage program happens to come with free checking, free bill pay, free Internet banking, a free debit card AND a line of credit that will cover overdrafts at a reduced rate of $____ if you sign up for this package prior to closing.”

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