Managing Through Victimhood and Learned Helplessness [VIDEO]
Have you ever rolled out of bed on a Monday morning, fired up and ready to take on the week, only to be met with a flood of excuses? You’re pumped, you’re ready to go,...
Do you ever think you’re worth more? Yeah, you probably do. We all do. So doesn’t it feel like a violation whenever somebody says, “Hey, we can do business with you, but you’re going to have to match the rate.”
That never feels okay. As soon as we match the rate, our net interest margin squashes. We don’t want that to happen. Why would we when we don’t even have the profit built-in? Instead, what we want to happen is that every time we do another loan, it’s a profitable loan.
So how do we make that happen? How do we boost net interest margin by systematically and repeatedly commanding premium pricing in a world where everybody wants a deal? Well, if one bank can do it, maybe two and three and four can. And in fact …
Aren’t you curious about how they are doing it? Well, first they start by understanding how to position themselves in a different way. Then, after they’ve positioned themselves as having a special uniqueness, their people know how to put that uniqueness into a sales process in a way that the customer soon realizes they can’t afford not to have that special uniqueness.
Now, this sounds easy, but it’s a little bit trickier than you can imagine. In fact …
But many banks have got it right because they know getting your differentiation right is imperative. And it needs to be followed up with everyone on your team knowing exactly how to deploy your differentiation in the correct proven sales process that allows for premium pricing.
Let’s face it, there’s a lot of slop out there in banking right now. A lot of people try to get deals with their good looks and charm, saying things like, “We have good service, we have good people.” Those are not differentiators. They are expectations, demands. You’re going to have to do better than that.
So join me to find out how. I’m teaching a course on how to command premium pricing so that you can raise your net interest margin. Because you deserve to have a NIM up at the top of your peers— and once you get there, to stay there. But here’s the key: you have to do it without taking on additional risk. People think that can’t be done when, in fact, it truly can.
Getting yourself out of the commodity business is one of the most important strategic moves you can make, especially in this rising interest rate environment with crazy competition for your best customer. I can’t wait to help you find your differentiator. I’ll see you there.
– Roxanne Emmerich
Please watch the video above and share it with your exec team and board.
Make rate matching a thing of the past. Register and access the “Never Match Rate Again” Masterclass with Roxanne Emmerich.
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