Improving the Branch Sales Process

The traditional branch sales model was based on cross-selling to customers who used the branch for transactions. In a typical scenario, a customer comes in to deposit a check or make a payment on a loan and the teller points them to a ready personal banker who might cross-sell a money market account or a home equity Read More

By |2020-05-27T18:01:14-05:00June 5th, 2012|Comments Off on Improving the Branch Sales Process

Profit-based Metrics for Branch Sales Productivity

As retail bankers continue to probe for revenue opportunities in a tight market, many are wrestling with a fundamental question: how can branch staff become strong partners in sales without giving up a service culture? The traditional retail sales strategy relied on the marketing team to drive traffic into the branch, where platform staff stood ready to Read More

By |2020-05-27T18:01:15-05:00May 25th, 2012|Comments Off on Profit-based Metrics for Branch Sales Productivity

Investing in the Branch of the Future

There is intense debate right now about the future of the branch. Some say it will become increasingly obsolete as customers move towards online, mobile and other non-branch channels. Others point out that the majority of new accounts are still opened at the branch and customers look for who has the most convenient locations when selecting a Read More

By |2020-05-27T18:01:15-05:00May 18th, 2012|Comments Off on Investing in the Branch of the Future

Best Practices for Accessing Customer Feedback

With external growth prospects clouded by regulatory fee restrictions and a sluggish economy, bankers are focused on increasing revenue from existing customers. The appeal of this strategy is virtually a no-brainer: it’s far less costly than deriving revenue from new customers and between 25% and 35% of current customers have only one or two accounts with their Read More

By |2020-05-27T18:01:15-05:00May 1st, 2012|Comments Off on Best Practices for Accessing Customer Feedback

Strategies for Optimal Teller Scheduling

Workforce utilization management – the process of tailoring staff schedules to meet need and thereby eliminating wasted payroll hours – is an especially complex task when it comes to tellers. Banks want to minimize customer wait time in their branches, but busy periods are often short and unpredictable. The tendency has been to use industry forecasts and Read More

By |2020-05-27T18:01:16-05:00April 9th, 2012|Comments Off on Strategies for Optimal Teller Scheduling

Less Branches but not Branch-less

There are regular discussions at conferences about the cashless, branchless future. Visa and MasterCard are huge advocates of a war on cash, as are the mobile wallet providers. Brett King and the Bank 2.0 crowd talk about a branchless world of banking and how branches are all irrelevant to future bank operations. But let’s be clear: it won’t Read More

By |2020-05-27T18:01:17-05:00March 19th, 2012|Comments Off on Less Branches but not Branch-less

Employee Retention for Customer Service

With revenues under pressure and cost-cutting measures moving to the forefront, the next few years are likely to be difficult for bank employees. Managers will have to work hard to maintain employee morale – particularly for tellers – in order to continue delivering the customer service levels required in a very competitive environment. Some lessons in employee Read More

By |2020-05-27T18:01:17-05:00March 5th, 2012|Comments Off on Employee Retention for Customer Service

The Challenge of Multi-Channel Delivery

Retail banking today is more complex than ever for many reasons, including changing consumer preferences, regulatory uncertainty and the challenge of maintaining an array of delivery channels that are now available to and expected by customers. Each channel features different but robust functionalities and most customers use multiple channels to accommodate their banking needs. Additionally, with a Read More

By |2020-05-27T18:01:17-05:00March 2nd, 2012|Comments Off on The Challenge of Multi-Channel Delivery

Virtual Customers: Who’s Minding the Store?

Are retail banks overlooking a major segment of their customer base? It seems improbable, especially given the intense hunt for growth in a tight market. Yet, that is exactly what’s happening at many regional banking companies. The customers in question are those who have drifted away from the branch and now do most of their banking at Read More

By |2020-05-27T18:01:17-05:00February 21st, 2012|Comments Off on Virtual Customers: Who’s Minding the Store?

Branch Banks Need to Fear Upstarts

You can sense an audience’s reaction as you present ideas on innovation. Sometimes it’s warm and engaging, sometimes distant and thoughtful and occasionally remote and cynical. I experienced all three reactions recently when presenting at a bank’s annual leadership conference, with the last being the reaction I like the least but enjoy debating the most. This was a Read More

By |2020-05-27T18:01:18-05:00January 17th, 2012|Comments Off on Branch Banks Need to Fear Upstarts