January 2014 Profit-Growth Banking™ Summit Challenge Results!
Grand Prize Winner Got To Choose From:
An iPad Mini or an Amazon Kindle Fire HD
10 Thank God It’s Monday! Books or 6 Profit-Growth Banking Books
An Emmerich Group team member visit to your bank!
OR a special teleseminar customized for your group given by Roxanne Emmerich
The Grand Prize Winner Was…
Adams Community Bank
FANTASTIC WORK, ADAMS COMMUNITY!! We are absolutely blown away by your team’s understanding of the USP process and the details you have put into your plan. Your USPs matter to the customer and you have laid out clear and explicit benefits for each proposition.
Though all of your USPs are well-developed, we especially like your mortgage USP, “Lending decisions are made locally. That means you are assured fast, accurate and prompt decisions from application to closing. We guarantee start to finish within 45 days or less or we’ll credit you $250 towards your closing costs.” Your team clearly understands the importance of including guarantees or reasons for the customer to believe within your USP statements. Just amazing!
We’re glad you will be utilizing your website, social media, and digital signs around your branches to ensure these USPs remain visible. Next steps would be to lay out a training plan to ensure your team becomes experts in using these USPs with your customers and prospects.
With the strong list of USPs you’ve already created, your new USPs will help push you further ahead of your competition! Fantastic job, Adams Community!
Fantastic start, FNB Oxford, or should we say Friendly Neighborhood Bank Oxford! You have done an excellent job of identifying key customer pains and now your team can utilize the USP formula to build powerhouse USPs. First, think of dramatically different ways your team can address each of the identified pains. After that is complete, lay out your solutions to these pains being sure to include a very explicit benefit to the customer. Finally, reinforce each of your propositions with a quantifiable component or guaranty.
Once you have developed your USPs and have trained your staff, make sure you also include them on your website, social media sites, and signage at your branches. A USP is only as strong as it is visible and talked about, so keep the conversation going!
We can’t wait to see what your team comes up with next, FNB Oxford!
Wow, Security Bank, your team has come up with some pretty amazing USPs!! 100% customer referral rating is absolutely fantastic and with an effective use of USPs, it will undoubtedly continue. We can tell your team has taken the time to look directly into customer’s pains and developed USPs around them.
We are also impressed with the marketing plan you have laid out for your USPs. As you know, a USP is only as strong as it is publicized and implemented by each staff member.
Though emphasizing your team’s local decision making process is excellent, remember the importance of laying out the explicit benefit to the customer in the USP. This is done by spelling out exactly how the USP would directly affect their situation. The more visual and specific your propositions can be, the more powerful they will be to your next best customers.
Keep up the great work, Security Bank!
Security Bank – Profit Growth Challenge 1.2014
The Provident Bank
Excellent work, The Provident Bank! We can tell your team has thought through how to implement your USPs into your organization through the use of huddles, sales meetings, and new employee orientation.
Though we think you have identified some great new USPS, avoid the temptation to create marketing slogans. Make sure to be very specific about how each proposition will directly benefit the customer. Often this can be accomplished by adding a “so that” statement to the USP to explain the explicit benefit.
As you continue to revisit your new USP list, remember to focus on how each can be significantly different from your competition, infusing each with the ever-important “WOW factor”. Your team already has a very strong collection of USPs and, once polished, these three new ones will be great additions to that list.
We are excited to see how your team continues raising the bar and blowing away the competition!