Tag: WOW Lending

4 Things Banks Should Do Before “Building Their Brand”

Creating Raving Bank Fans

At a recent conference, we got in a public argument over how banks waste time and money building their brand.  Don’t get us wrong, we believe every bank should make an investment in their brand but our point is that building a brand is difficult and expensive. Before you invest money in a new logo, an advertising campaign or work up a new “brand message,” there are four simple things that all banks need to do to create 70%+ of the value of their brand.

 

Step One – Focus on Your 1,000 True Fans

8 Steps To Improve Your Commercial Quote Sheet

Closing More Commercial Loans

Either buried deep in a proposal letter, or attached to the back, lenders will present one of the most important aspects of the commercial term loan – the structure and pricing of the loan.  Many lenders will have their preferred format and presentation style, and certain banks will have a uniform template for lenders to use, however, for the most part we see ad hoc and confusing quote sheets without the elements that we feel are important in providing superior customer service or the compelling information to winning the client’s business.  We would like to share our observations on how a

Branding A Better Commercial Lending Process

The Lending Customer Experience

Your commercial customer is the highest value customer in your bank, right? Your brand, or what your bank stands for, is why that customer is attracted to you. If both these statements are true, why is your commercial transaction process likely the Death Valley of your brand? The more important question is – how is your loan process any different from your competitors and do you add value? The reality is the few banks have a loan process that supports their brand.

The Bank Strategy of Customer Over Product

Becoming More Of A Super Lender

Trying to sell more loans and deposits is a different strategy than trying to add value to the customer’s life.  Jim, a commercial bank customer has a company that produces high-end drum equipment. Back in 2014, Jim drew 95% of his availability in anticipation of the holiday season. In early 2015, Jim got a note from his banker that the line was being increased due to the increase in sales volume.

 

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