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You deserve to get paid more. Rate matching is the most destructive force in community banking today. And because of it, as a community bank, you are underpaid for the value you deliver.

 

Get ready because you could stop your prospects from asking you to match your rate to win the business and start getting paid more within the next two weeks.  How does that sound?

If you’re the kind of person who has team members at your door saying, boss, we can do this deal, we match the rate and you know, that’s no good.

If you’re the kind of person who has one team member who is already getting premium pricing, and you want more, you’re going to love this.

Or if you have team members that believe they have a moral obligation to match the rates. Don’t worry, it’s not their fault. I’ll show you how to get them to come around.

In this video, you’re going to discover:

The three elements of a unique selling proposition or USP, that actually make it work.

The most common banking USPS, and why you should never use them.

The business mistake we see banks make when creating USPs.

Unlike so many branding efforts, that costs hundreds of thousands of dollars, but never really deliver the new profitable customers you want, USPs act like magnets for the best customers in your market. If you build them, right.

For any of your USPS to be successful, each has to meet all three criteria:

They must matter to your customer.

They must be dramatically different than anything else in your market.

They must be worded as an explicit benefit.

As opposed to the “we love them all the same” approach to customer service, the job everyone must get is that you take very good care of all customers, but your Top 100 customers and your Top 100 prospects are the reason you exist.

There’s got to be a benefit that matters to your customer, a reason why they should do business with you over the other 10 to 100 banks in your market. What makes you different in a way that actually matters to your future customer and is said in a way that is believable

It’s time for you to up the game. If you’re serious about getting rid of rate matching. When you put all of these things together and use them properly in your sales process, you can see big results within days and weeks.

A few years ago, we had a bank that brought several of their executives and their President to our event. We took them through an exercise to develop their USPs. When they went back to their bank the very next week, the President wrote me excitedly to say that one of their CSRS had used the USP with the prospect and the prospect pulled in an additional 5 million dollars the next day, after opening the account for what was supposed to be a $250,000 checking account.

USPs unlock big accounts without ever having to match rate. And by the way, not all USPs are equal.

In the next video, I’ll show you why you need a particular type of USP, a level four USP if you want to get extreme premium pricing.

To your continued success,

Roxanne Emmerich

Please watch the video above and share it with your exec team and board.

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