Profit connect: Tie every team member to measurable bank profitability
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The Great Money Migration: How Much Money Will Leave You [VIDEO]
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.
Video: The Great Money Migration: How Much Money Will Leave You
There will be an inevitable “Great Money Migration™” in 2021. Some money will move out of some banks and go flying into other financial institutions. You’re going to put a serious stake in the ground to proactively be on the receiving end, or you will lose that game quickly, as your best customers are being pursued by many.
If you’re sitting there waiting for them to call because of your good looks and charm, that may not work out for you nearly as well as you were hoping.
Instead, you can decide that you’re going to be proactive—to create true trusted advisors—far beyond the lip service offered by so many banks—to inspire the confidence of your team members to call on people, engage them in game-changing conversations—helping customers make masterful decisions regarding how they handle their money, creating a routine for how they’re checking in with them, and having those check-ins be of value.
That’s going to take a whole new level of skill set. You’re going to have to decide which side of the equation you’re going to be on because the great money migration will happen with or without your consent. You just get to decide which side will you be on.
– Roxanne Emmerich
Please watch the video above and share it with your exec team and board.
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