Can You Retain And Win All Of Your Bank Account Holders’ Business?



Do you hold the entire relationship for every one of your bank account holders

I hope you do. But maybe you don’t. And maybe your people don’t know how to get effective cross-selling done.

If you’re not averaging five, six, or even seven cross-sales on every new relationship that is opened up in your bank …

Something’s just not right yet

And it doesn’t mean you have bad people. It just means they don’t know what to do for effective cross-selling. But they’re going to need to figure it out.

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Making a Difference This Thanksgiving With Gratitude



This  Thanksgiving holiday, I give thanks for you. And I hope that you’re in a state of gratitude. 

Gratitude is the filter with which we take in life. At every moment in time, things could be a whole lot worse. And that’s what gratitude is–seeing the good things. 

I constantly remind my team about when I was growing up milking cows, going to the barn in the morning when it was 20 degrees below zero with snow blowing sideways set a bar it has been easy to rise above.

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Build Up Your Bank’s Customer Loyalty



Quite a few decades ago, I remember going to bank CEO conferences and hearing this line uttered: “Our people are order takers, we’ve tried everything, we don’t seem to be able to break this problem.” 

Guess what? 

Well, now here we are two-three decades later. Yet, out of the 4000 or so banks that remain, most of them still haven’t figured out how to move into a relationship where they’ve built bank customer loyalty and own the entire customer relationship. 

This does not bode well for the remaining 4000 banks as we’re on our path down to 2000 banks.

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The Transactional To Transformational Model for Community Banks

Male banker sits at his office desk with open laptop computer, discussing interest rates with woman and man applying for loan.



The days of transactional banking are over. 

Yes, there was a day when the customers would walk into our lobbies. Yes, there was a day where they came looking for us. Yes, I remember those days, too. 

Those days are long gone 

And it was a rapid turn. Yes, the amount of traffic coming into our lobbies had been declining. But boy, when we closed the doors for COVID, that changed everything from transactional to transformational. And now we are in a transformational model instead.

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Can’t Miss Bank Marketing Strategies Of A Post-PPP Economy

Wooden chess knight and pawns atop paper currency, all on top of wooden chess board, illustrating bank strategic planning.



Hello. I have a question for you: how are you going to create the same kind of income that you created last year with PPP?

It May Sound Hard. And It Probably Will Be. 

That said, bank marketing strategies that are effective should help you get the job done—by creating the right strategies that define who your next best customers are since your top 100 customers account for anywhere between 50 to 140% of your profits anyway.

Your Next Best Customers

If you find people just like them by defining them,

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Intentional Congruence — The Key to Predictable Profitability

One of the hardest things to do is align everyone and everything with just a few things that matter to the profits of your bank.

 

Yet this intentional congruence is one of the most important practices that you must follow if you want to grow and prosper.

In this blog, I want to share with you a concept that has transformed the strategic planning results for hundreds of banks, increasing profits by 20 to 50 to even 100% in one year.

 

Now, if you’re the kind of person leader who: 

 

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You Can Double Profits without Adding More People or Expense

I believe that everyone wants to feel special and be treated uniquely according to the specific needs and wants. And when it comes to sales, some prospects are more special than others. 

 

Research shows that for banks up to 2 billion in asset size, that their top 100 most profitable customers account for between 50 to 120% of their profit. 

In this blog,  I’m going to show you how to find another 100 just like them so that you can double profits without adding more people or expense, and build a plan to get all the most profitable customers out there,

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Breakthroughs and Missed Opportunities in Your Product Lines

I believe every business has a breakthrough opportunity, a missed profit opportunity, in fact, in several of their product lines.

 

In this blog, I’m going to share with you how any one of your product lines could be the source of thousands of dollars of additional profits within a few short weeks. You’ll need to change your strategic planning process radically to make it happen.

 

If you’re the kind of person who:

 

  • Knows your team can sometimes keep repeating what they’ve been doing instead of taking the time to implement breakthrough ideas for a breakthrough increase in profit…
  • Is a bit weary of all the regulations and busy work and know that both you and your people haven’t taken the time to question the way that you offer your products…
  • Would like the infusion of energy and cash that comes with a rapid increase in the sale of a product line that when revamped using a new strategy that’s now low hanging fruit,

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The Antidote to Commodity Hell

If you’re feeling trapped in rate competition, you’re in “Commodity Hell”… and it’s not a fun place.

 

When your customers and prospects view you as no different than the bank down the street, you create a situation where retaining customers and attracting new ones is beyond difficult.

The first reaction is to blame the customers. You’ve heard it at banking conventions before. Someone will complain, “Customers don’t care about relationships anymore. It’s all about rates and fees.”

That’s backward thinking.

Yes, it is all about rates and fees if you don’t give the customer any other good reason to use in making their decision.

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