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?
What’s the best way to approach them and make sure that you win them away from the current bank that they are happy with?
Video: Breakthrough Banking Blueprint Shows You The Best Way
These are all the kinds of things, as well as thousands of others, that are important to understand and develop into your franchise system. Having a franchise means more than just having a bank charter. It means truly having thought through those particular considerations and really understanding what makes sense.
For the last 30 years, I’ve had the great opportunity of working with some of the best banks in the country to help them AB split test the very best systems in marketing, in sales, in strategy, in leadership development, and culture, to list a few of the areas.
As a result, I wrote a book called The Breakthrough Banking Blueprint, the proven franchise system that works best for a bank.
I would strongly recommend that your executive team read this book in time for strategic planning because understanding what works today is very different than understanding what worked back when many of your people went through “graduate school of banking.”
The old approaches just aren’t working anymore, and advertising for deposits doesn’t work. It only gets you hot money that’s very expensive, and your cost of funds goes up. Hiring more lenders to help you achieve loan growth isn’t working anymore.
Now the whole world has changed in that the entire sales system needs to be outbound, fighting for the old days doesn’t work anymore.
I strongly recommend that before strategic planning season, that you have your entire team read this book, understand the components of it, and apply these strategies to make sure that your franchise system is as strong as possible.
– Roxanne Emmerich
Please watch the video above and share it with your exec team and board.