November 2018

Teaching Team Sales To Relationship Managers

The Bank Sales Team

While lots of bankers study and pride themselves on selling, few banks train in “team sales.” Like playing a team sport, one-on-one selling is different than when selling as a team. To the extent your bank uses a “client action team” or group of bankers representing different products to bring over a big client, improving your team sales technique can turbocharge performance. In this article, we look at six, often overlooked ways, your teams can boost its commercial client conversions from prospect to customer.

 

Here is Our LinkedIn Prospecting Training for Relationship Managers

Bank LinkedIn Training

If the truth is told, most bankers have LinkedIn profiles that are missing the basics. Their photos, lack of keyword usage, fear of putting their contact information online, no personalized URL and unclear capabilities all hinder performance. Now, if you are an introvert that does not have a line function, wants to stay off the grid and is so confident in their job security that there is no need for visibility, then you don’t need to worry about it. However, if you are a relationship manager, then you have a problem.

The Data on The Term, DSCR and LTV Trade-off in Commercial Loan Pricing

Creating Greater Loan Profitability

At this juncture of the credit cycle, community banks must be judicious in the way they source, structure and book commercial loans.  Competition is stiff, and every banker is trying to outsmart and out-compete multiple lenders vying for the same customer.  Unfortunately, negotiating terms and pricing on a commercial loan feels a little like entering a bazaar wher

Banker’s Intent and a Better Leadership Communication Model

Improving Bank Leadership

When it comes to most missions, initial communication is one of the major factors of success. If there is one common flaw in execution, it most likely stems that the initial mission and its objectives were not clearly communicated, and understood by a group’s members. The “Banker’s Intent” model is a derivation on fire service’s “Leader’s Intent Model” and is a communication framework that is being used to currently fight some of the largest wildfires in the history of the United States.

The Top 15 Industries Where Banks Can Find Deposits for 2019

Growing Deposits

In the quest for deposits, one successful tactic at top performing banks is to target the right customers. While banking everyone in your community is egalitarian, it is also a poor use of resources. Some customers offer better returns because they use more banking services and have more deposit balances. Not to say you want to ignore some parts of your community, but why not focus more of your resources on those customers that are going to make your bank more profitable?

The Burger King Thought Experiment For Bank Marketing

Bank Marketing in Action

Over this past year, one of our borrowers, Burger King, taught us something about marketing. It rolled out a 15-second TV advertisement where a Burger King employee said, “OK Google, what is the Whopper burger?” If you had a Google Home unit within range, the phrase prompted the speaker to read the Wikipedia entry for the Whopper. The Wikipedia page was edited to describe the Whopper in the most mouthwatering words possible.

Why Banks Should Separate The CLO and CCO Functions

Better Credit Governance

Many executives at community banks fulfill many functions and wear numerous hats.  However, we are advocates of separating the Chief Lending Officer (CLO) and Chief Credit Officer (CCO) functions at community banks from both an operational and strategic perspective.  We still see some community banks that either do not have an official CLO role or combine the CCO and CLO roles.  We feel that CCOs cannot be effective fulfilling the true strategic objective of drive lo

Management Bingo and How to Improve Succession Planning

Building Human Capital

We recently heard of a regulatory team that during a safety and soundness exam played “Management Bingo.” They took senior executive’s business cards, put them in a bowl and picked one. The CEO (if he was not picked) had to quickly tell or show an action plan for the succession of the executive that was chosen. If the CEO were chosen (and they put two cards in if the CEO was also President), then the Board would have to show a plan.

Here Is Our Relationship Manager Content Training

Using Content in Banking

Everyone loves content. It is likely that you clicked on this article because you were curious about what content we have to offer. Content builds credibility, engagement, brand and amplifies your voice. Content also drives bank sales. Part of the challenge is that few banks train their relationship managers and marketing staff on how to create an effective portfolio of content. In this short article, we highlight a couple of important points on contact and then provide the recording of our recent training video on the topic.