It may not be the most glamours activity in the banking world, but for community banks to effectively compete against larger counterparts, some rote processes must be involved. The following 3 steps of a continuous improvement sales process, though, may yield improved account production and deeper customer relationships.
The “3 D’s,” as we call them are:
DRAW – Map out your territory and develop an objective understanding of your local trade areas and potential target audiences.
DEFEND – Once identified, territorial defense is critical. Simply put: be vigilant, and KEEP OUT, encroaching competitors.
A successful effort will have BOTH defensive and offensive tactical elements.
DELEGATE – Assign a relationship manager to connect in some way with new and existing customers on a monthly or quarterly schedule.
Other steps are sure to be critical and useful in a continuous sales improvement process, but the 3 steps listed, we believe, are a great place to start to build a system that will deepen customer relationships, fortify local territory defense and improve the community bank’s brand recognition and acceptance.
Contact us to discuss how you can do more with less spending by paying attention to the real factors that deliver competitive advantage to your bank.