It’s unprecedented. In talking with a few dozen CEOs these last two weeks, almost all used the exact same words…
“I’m very concerned about 2022. How are we going to replace the income from PPP and the other programs?
AND ALL I HEAR ARE EXCUSES FROM MY TEAM…”
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…)
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.
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.
Does every team member on your team know how they tie to profit? I mean really know?
If you knew what the very top-performing banks knew, could you become a top-performing bank?
If strategic plans actually exist to create predictable growth, profit, and bank culture, why is it that most of them do the opposite?
When I first left day-to-day banking to start this business, my first client was voted every year as the country’s top franchise.
Although I did their management development curriculum and educated their people about how to run that business, one of the things that I’m sure is true is that I learned more from them than they learned from me. I learned the concept of franchise thinking.
How do you do AB split testing to find out the best way to do things?
What’s the best way to hire a lender?
What is the best way to identify your next best customers?
Everyone has patterns of disbelief.
Some people believe that in politics, there is one side or the other, and they’re unwilling to look at the alternative. Still others believe that the moon is made of cheese.
You may have a belief system that’s true. You may have a belief system that’s not true. And the question that we have to look at as executive is, “what has to be true for us to challenge what we believe to be true?”
You see, there are many beliefs within our industry right now,
Let’s think through profitability for a second. Profitability has different meanings to different people because profitability by itself doesn’t mean much. When I first wrote the Profit-Growth Banking book before the last recession, I talked about how I’m not impressed by banks that grow fast. I’m not impressed by banks that are profitable.
