You want a full banking relationship with your customers or members, right? It’s likely you’ve expanded your services to include mortgage, investment and insurance services, business banking and more. You hope to position yourself as a trusted financial partner and generate more revenue and share of wallet. Why should you just have a retail relationship when you have so much to offer including valuable advice?
Sounds great. However, if you’re like many bankers, you haven’t come close to maximizing the potential of all your products and business lines. Here are two common obstacles:
- Poor Collaboration and Silos – The Retail, Commercial, Investment/Trust, Mortgage and other business lines focus on their areas and don’t talk to one another. It’s the proverbial silo. It’s also possible they don’t trust other areas or one another. In some cases they may even believe their function is somehow superior to the rest. Any of these scenarios prevents having holistic view of what a customer or member might need and hinders organic growth. Rather than pre-call planning together and carefully discussing a winning approach, your business bankers and branch managers either “wing it” or just make the call by themselves or both. Not exactly an effective business strategy.
- Poor Product Integration – Your products and services are poorly positioned in your marketing efforts or by staff as a total solution to improve a person’s financial well-being. Employees are mostly focused on reaching monthly goals for their specific area and have little training, motivation or accountability to include other partners and make quality referrals. Silos just exacerbate the problem.
High Definition Banking® Solution
Our structured process is designed to get all business lines collaborating and viewing the customer or member relationship holistically, not merely as individual transactions. Where business lines have traditionally worked as “lone wolves”, we implement a repeatable process with valuable tools that gets them jointly assessing client needs both before and during calls. They are no longer just making referrals now and then but developing the customer’s business as a team.
Your people will also no longer simply make a standard sales presentation. Instead, we train them to be more consultative and are viewed as a trusted financial advisor and partner. They learn how to prepare in advance demonstrate knowledge of the customer’s situation. As a result, your customers or members receive a highly differentiated experience from a professional, well-trained team of your advisors. In addition, your senior executives and their teams develop an increased level of trust, respect and revenue.