Banker To Banker

Why You Should Tidy Up Your Bank Products

Kondo-izing Your Bank

After a bestselling book and new Netflix special, Marie Kondo has tens of millions of people around the world organizing their homes and businesses. The key to the methodology is not minimalism but mindfulness. It is asking yourself - does this procession “spark joy”? If the answer is yes, you neatly put a trifold in it and put it in your drawer or closet in such a way that you can see it. If the answer is no, you thank the object for its years of service and then promptly donate or trash it. Banks should do the same thing.

 

Curated Banking: How Rebundling Could Impact Your Future

The Future of Banking

Years ago, you went to the record store to purchase an album of music. It was curated by the artist, and maybe you liked two or three songs (unless it was Michael Jackson). In 2003, Apple Music was launched, and it soon became popular to purchase individual songs for a mere $0.99 each. However, it took work figuring out which songs to purchase and so by 2015; more people streamed music than downloaded songs. Now you go to YouTube, Spotify, Pandora, SoundCloud, Google or Amazon and simply listen to either their curated playlist or choose one from your friends.

Learning from Other Bank’s Commitment Letter Mistakes

Better Term Sheet Practices

One of the best ways to become a better banker is to pay attention to your competition and analyze their strengths and weaknesses.  We pay particular attention to term sheets and commitment letters from other banks to learn what other banks are doing well and where they make mistakes.  We intend to capitalize on competitors’ weaknesses and to learn to address and respond to other banks’ strengths.  We recently reviewed a term sheet that we thought highlighted some in

Better Understanding Your Bank Competitors

Competitive Positioning

Knowing who your competition is, what they are offering, their delivery channels and service levels can help community banks differentiate their services and enhance their competitive advantage.  Understanding the competitive banking landscape helps community banks set proper pricing, effectively respond to rival marketing, and compete more effectively.  Analyzing the competition can also help a bank be realistic about which products it can sell and at what price.

A New Feature on LinkedIn That Your RMs are Probably Not Using

Event Networking With LinkedIn

Any relationship manager (RM) that has ever worked a conference knows how frustrating it is to try to track down that one prospect you have wanted to meet or catch up with. While you may have an attendee list, it is also equally frustrating to know who is in the room. This is where LinkedIn comes in with a feature that can revolutionize how you network and get the most out of any given marketing event. In this article, we show you how to leverage the technology to make you the smartest banker in the room.

 

How To Use Rewards At Your Bank To Incent Behavior

Increasing Promotion Effectiveness

Banks often run promotions or “behavioral campaigns” to elicit a certain action. The most common is to get a customer to try a new product such as an interactive teller, mobile app or to enroll in a loyalty program. Other uses include educating a customer on a new procedure (such as account access during an integration) or to provide additional information (such as an email). For any bank looking to run such a program, the data below will open your eyes and provide insight into how your bank can be more effective.

 

Pages

Subscribe to Banker To Banker