sticky deposits Archives - Emmerich Financial

I believe people don’t like hassles. Who does?

Whether it’s at work, at home, or out shopping. But it’s a dangerous attitude among your people because it causes them to not put 100% into their sales conversations.

In this video, I’m going to show you how your people (like many bankers before them who couldn’t, but now do) can get 6–7 cross-sales and all the deposits in a way that never feels sales-y.

If you’re the kind of leader…

Who has been preaching to the point of losing your voice about the need to get cross-sales of deposit accounts to make those accounts both profitable and sticky (and you’re a bit fit to be tied at this point),

Bank Sales Training Basics—with an Important Twist [VIDEO]

I believe that we humans can make easy tasks MUCH harder than they need to be.

We all do it. The people at your bank struggling with sales effectiveness do it, too.

In this video, I’m going to show you how you can take a trouble spot, like getting enough deposits, and turn it into a big win quickly. Quick hint: It’s about moving away from “training” but instead “educating” your team the right way.

If you’re the kind of banker…

Who needs more deposits and can’t seem to figure out what the banks who don’t have that problem are doing,

How to Move Beyond “Trusted Advisor” Lip Service to Get ALL of their Deposit Business [VIDEO]

I believe people want to work with “the best.”

When people truly trust you and you bring value that exceeds your additional pricing, people are willing to bring all their business to you and your bank. At that point, price has little relevance. They know that what you provide is worth the cost. That’s a prime position for you to be in—now here’s how you’re going to get there.

If you’re the kind of leader…

Who has a team member who already knows how to get large checking accounts without price being relevant while getting the entire relationship,

Where the Low-Risk, High-Profit Clients Are Hiding [VIDEO]

I believe that sometimes one tweak can make a huge impact.

In this video, we’ll tackle proven techniques you can use immediately to find your next top 100 most profitable, low-risk clients. Those are exactly the customers you want on your roster—and it’s worth the work to bring them in.

In fact, using this system I’m about to reveal has brought my clients a closing rate near 100%. I think that’s worth staying tuned.

If you’re the kind of person…

Who has spent a lot of money on marketing and it’s working to pull in the best customers at premium pricing,

How to Never Become a Vendor in the Eyes of Your Customers [VIDEO]

I believe the world is full of abundance—a field of diamonds is in every back yard. You just have to mine your share.

In this video, I’m going to show you how to find and bring in all the deposits you want in YOUR market without paying up.

If you’re the kind of banker…

Who has all the deposits you want already, you’ll love this because you’ll be able to bring your cost of funds down even more.
Or if you are the kind who can’t seem to find enough deposits and has resorted to having to fund through alternative sources or pay up for CDs,

Is this addiction killing your bank’s profit?

It creeps up on you…usually in a moment of desperation.

A prospect comes in and says “So and so bank down the street offered rate X. If you can get me a loan at a rate that is half a percent lower, then you have my business.”

Now you feel trapped. You want to close this deal, but you know if you lower your rate, the deal won’t be profitable…but you know if you don’t lower your rate, the prospect walk out the door and down the street to do business with your competitor—and then it happens…

You lower your rate to “buy the business.”

The temptation to rate match has become an epidemic in community banks across the country.

How to Avoid the Price-Matching Slippery Slope

Here’s the thing about price: matching price is an addiction. When you’re discounting, it has a debilitating future impact on so many different things. It sabotages your ability to recruit, hire, and train the very best. It deteriorates your best customer service efforts, because you can’t invest in the customer service that you have. It doesn’t allow for you to have cutting-edge products and services, because the money’s not there. You have no top-line products, and you are not a salable equity, because your multiple of book is reduced when people are looking at purchasing your bank.