Marketing isn’t what it used to be. For many banks, it’s changing how you should be investing your marketing dollars and the strategies that you should be using. (more…)
Do you have a proven strategy to attract more profitable customers?
No, this strategy isn’t to hire more lenders.
No, this strategy isn’t about stealing the guy from next door.
No, this strategy isn’t about having your officers do more officer calls.
Those are all tactics. Those are not strategies.
Are One-Third of Your Employees About to Dump You? I hope not, but that’s what the research is showing will happen in the next six months.
In fact, according to research done by Bamboo HR, 79% said they felt “burnt out” in the last month, and 53% experienced “burnout” in the last week. This is a severe problem.
A dear friend asked me a question one time, “oh really, can you afford not to?” and I thought that was one of the most brilliant questions I’ve ever heard.
Let me pose it to you this way.
Can you afford not to figure out how to increase your net interest margin by 100 basis points while bringing down your cost of funds and bringing up the quality of the loans you’re making?
I was speaking recently for a bank marketing association and what occurred to me was that I made a big discovery. I asked them how they move net interest margin. And I got that “huh?” look.
Then I dug a little bit deeper to ask them, “Well, tell me what net interest margin is, and how you as a marketing department tie into a net interest margin?” Blank stares. Nobody knew.
Not one person in an entire association knew probably the most important KPI for their department.
Now, if that’s happening in almost every bank within this country,