Community Banks and Credit Unions today have their greatest opportunity to take market share from large banks, but only if they are prepared to act.
Are you prepared to take customers from the large banks?
As much as you may be opposed to the increased impact of regulation of the financial services industry, take advantage of the one good thing that will come from this – the number of new customers that will be knocking on your door. (more…)
The financial services industry has gone through a couple years of unimaginable turmoil. We’ve lived through the housing bubble and mortgage meltdown. Once-powerful institutions have been bailed out or merged out of existence. High unemployment rates have impacted foreclosures, credit card and loan losses, savings rates and, still today, hold back our recovery. Sharply rising insurance premiums were necessary to insure underwater institutions do no more damage. And now we face the regulatory aftermath of these issues and the costs and uncertainty that come with financial “reform”. (more…)
Investments in technology routinely rank high on the priority list for most financial service providers, having dominated the industry’s agenda for the past 15 years. Enhanced MCIF systems, data warehouses, platform automation, call center systems, contact management applications, intranets, or interactive web sites are found on the current project list or shopping list of almost every financial institution. (more…)
This Schneider Report article is written by Tom Bresnan, CEO of Schneider Sales Management. Mr. Bresnan joined Schneider Sales Management in October, 2008 as an equity investor, board member and CEO. Prior to joining our firm, Mr. Bresnan was President and CEO of New Horizons Worldwide Inc., and Capitol American Financial, Inc. (more…)
I wanted to pass a long an article written by Jim Schneider, our Founder and Vice Chairman. This article is the cover story in the current July/August issue of ABA Bank Marketing and features 10 pragmatic ways to sell your way out of the current financial crisis.
The Squeeze: Selling in Tough Times
During the last year, the market dynamics have changed, and banks need to modify their sales and marketing strategies accordingly. In this new environment of uncertainty and of mistrust of even the highest-performing companies, branding, advertising, pricing and other passive marketing strategies aren’t likely to yield the same high returns on investment that they’ve yielded in the past. (more…)
By this point in the current financial crisis most banks and credit unions have come to realize that “hope is not a strategy.” Doing nothing to increase sales until the economy rebounds is a strategy that almost certainly increases profit risk, the concentration of income within a small number of customers, products, markets and salespeople. (more…)
