Seasoned bankers call it “The Distributor Tactic” and it is a little-discussed technique used for ages in banking to speed up the sales cycle to land small business deposit and treasury management accounts faster. The key to this tactic is to know that very few commercial checking customers utilize any medium or high-value treasury management services at banks (see below). These low penetration rates present an ideal situation to market your bank’s services and disrupt the competition.
Tag: Selling Strategies
When it comes to commercial customer service, next to execution, there is nothing better to garner satisfaction than becoming a trusted financial advisor. As community bank relationship managers, we can be the foremost trusted advisors to our commercial customers. Given that we have seen multiple business and real estate cycles for hundreds of customers, and experienced banker possess the knowledge, insight and the ability to analyze a specific financial situation to then offer prudent, customized advice.
We talk to many bank executives and many bank lenders. We have been stumped by a conundrum until a few days ago. We estimate that approximately 80% of bank executives that we talk to insist that their banks are not being challenged to make long-term fixed-rate loans (five years and out). This has been true across many states and different bank sizes. On the other hand we estimate that approxima
U.S. airlines carried more than 743 million passengers last year to cover some 840 billion miles during which time they fed an estimated total of 12 bags of peanuts and 7 bags of pretzels. We are not against paying for food, but let’s have something more than Pringles and $12 boxes of assorted travel sized food items that we are certain are leftovers from Jetro Cash & Carry.