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Workforce management models for sales improvement

Managing a decentralized branch network presents challenges for banking executives. They have no real visibility into what their employees are doing on a daily basis, yet they rely on these same employees to deliver greater Read More

By |2022-09-15T09:46:07-05:00March 9th, 2015|Comments Off on Workforce management models for sales improvement

Tips for better relationship banking

There’s no such thing as a field of one’s own in commercial lending. You should always assume there are at least four to five other lenders vying for the same business. Competing on price alone Read More

By |2022-09-15T09:45:47-05:00March 6th, 2015|Comments Off on Tips for better relationship banking

User research for improving the customer experience

Retail banks need to create digital experiences (e.g. online and mobile banking) that build customers’ trust and increase their perceptions of transparency. According to Forrester, companies providing a superior user experience generated: 14.4% more Read More

By |2022-09-15T09:45:53-05:00March 4th, 2015|Comments Off on User research for improving the customer experience

No fun in banking anymore

Recently, I ran into a former colleague who was bemoaning that he had been fired. His misfortune was cushioned by a multi-year salary payment, continued health care insurance and full vesting of stock and options Read More

By |2022-09-15T09:44:53-05:00February 13th, 2015|Comments Off on No fun in banking anymore

Measuring business performance for improved performance

By now, most banks have set their 2015 targets into motion, including return on assets, return on equity, efficiency and asset quality goals. Yet, many still haven’t implemented business line key performance indicators (KPIs) that Read More

By |2022-09-15T09:44:46-05:00January 23rd, 2015|Comments Off on Measuring business performance for improved performance

What bankers can learn from leasing

In the past two years, banks have focused on building their equipment finance and leasing groups. Faced with slow and low margin growth in traditional commercial and industrial (C&I) lending, many institutions have turned to Read More

By |2022-09-15T09:45:57-05:00January 20th, 2015|Comments Off on What bankers can learn from leasing

Compensating Sales for Improved Performance

How should banks compensate sellers? Sales vice presidents want simple and motivational plans with upside potential to attract and retain the best talent and to grow the top line. Finance and Risk Management, however, often Read More

By |2022-09-15T09:43:37-05:00December 16th, 2014|Comments Off on Compensating Sales for Improved Performance

Five Steps to Brand Power for Banks

Brand equity is well-trod territory in many industries. A notable exception? Retail banking.

It’s not that banks don’t have brand equity; rather it is that the brand equity of the banking industry overall – Read More

By |2022-09-15T09:43:59-05:00December 8th, 2014|Comments Off on Five Steps to Brand Power for Banks

Making customer data work for the customer

No doubt “big data” is one of the most popular terms in banking discussions and has even seeped into consumers’ frame of reference. Who hasn’t noticed when the ads on a website eerily mimic your Read More

By |2022-09-15T09:44:41-05:00December 3rd, 2014|Comments Off on Making customer data work for the customer

Cross Selling as Secret Sauce for Success

Years ago, I was trying to set up a meeting with the head of a small business group at a top five bank. When we spoke by phone, he said he only wanted to meet Read More

By |2022-09-15T09:43:43-05:00November 21st, 2014|Comments Off on Cross Selling as Secret Sauce for Success

Optimizing Staff Scheduling for Improved Branch Performance

Whatever the format – traditional, in-store or mini – the branch is still the primary channel where consumer sales and referrals originate. Three out of four consumers still prefer in-branch interactions to open an account, Read More

By |2022-09-15T09:44:56-05:00November 19th, 2014|Comments Off on Optimizing Staff Scheduling for Improved Branch Performance

Simple Segmentation for Improved Sales

We live in an age of “big data” but sometimes this amounts to data overload. What we really need is more usable data that can translate into better customer service, improved sales, and greater profitability. Read More

By |2022-09-15T09:45:16-05:00November 7th, 2014|Comments Off on Simple Segmentation for Improved Sales

Hiring Bankers Who Can Sell

With banks increasingly underscoring the importance of sales, more institutions are rethinking how they identify, attract, hire and retain the next generation of employees required to handle the expectations and needs of consumers, say panelists Read More

By |2022-09-15T09:44:18-05:00October 24th, 2014|Comments Off on Hiring Bankers Who Can Sell

Managing Through Changing Consumer Behavior

What do banking and golf have in common? Without torturing the analogy too much, we can cite one clear similarity: a struggle to win the allegiance of the younger generation. Just as banks ponder how Read More

By |2022-09-15T09:44:44-05:00October 21st, 2014|Comments Off on Managing Through Changing Consumer Behavior

Improving Sales Growth at the Point of Sale

As competition heats up from the likes of Walmart, PayPal and other shadow banking organizations, financial institutions need to improve customer engagement in order to increase wallet share, customer acquisition and retention. Additionally, technological advances Read More

By |2022-09-15T09:44:27-05:00October 20th, 2014|Comments Off on Improving Sales Growth at the Point of Sale

Digitally Engaging the Mass Affluent

Working with “digitally-savvy” mass affluent customers, particularly on wealth management issues, requires moving away from a branch-centric service model to one that leads with digital tools and includes some personal interaction from a skilled investment Read More

By |2022-09-15T09:43:49-05:00October 1st, 2014|Comments Off on Digitally Engaging the Mass Affluent

Going All In with Social Media Marketing

Go all in: that’s how bankers should manage their social media efforts, according to Gary Vaynerchuk, who knows something about using social media as a marketing tool.

From 2006 to 2011, Vaynerchuk utilized his daily Read More

By |2022-09-15T09:44:15-05:00September 26th, 2014|Comments Off on Going All In with Social Media Marketing

Serving the Underserved with Prepaid Cards

Half the world’s adults, over 2.5 billion people, do not have a formal bank account, according to the World Bank. In the United States, the segment of financially underserved consumers is substantial, Read More

By |2022-09-15T09:45:16-05:00September 9th, 2014|Comments Off on Serving the Underserved with Prepaid Cards

Creating Your Own Ad Network

In the first half of 2012, Amazon reportedly spent $54 million and the University of Phoenix $37.9 million on pay-per-click advertising. With Google advertising costs going through the roof, community banks have a tough time competing Read More

By |2022-09-15T09:43:41-05:00August 26th, 2014|Comments Off on Creating Your Own Ad Network