Banking Moments of Truth, Session 4

Today we’ll briefly discuss another Moment of Truth...those small things which can have a large effect, positively or negatively, on our customers and potential customers. Today’s subject revolves around defining and practicing what I refer to as “Cross-Serving”, instead of “Cross-Selling.” I’ll only briefly overview it here, but if you’d like to discuss it in more depth at no cost or obligation, e-mail me or contact me by phone at your convenience. I’ll be delighted to help.

Cross-Serving represents an attitude centered around helping the customer or prospect. Cross-Selling in banking is focusing on products and services the bank wants to sell more than focusing on what the customer or prospect really wants or needs! There is a huge difference. When we and our staffs remember to ask ourselves, “What services do we offer that would really benefit (customer or prospect name)”, we’ve taken the right first step. Step 2 is a simple check of CIF to brief us on the services, if any, the person currently has with our bank. CIF also logically clues us to many services the person doesn’t have with us.

Cross-Serving is not bank focused. It is customer focused. And, the customer or prospect can tell the difference instantly! It’s the difference between trying to force a drink of water on someone, and asking a thirsty person in the desert if they’d like a cold drink of water!

Cross-Serving. Something you and your staff can learn to do that the customer or prospect will genuinely appreciate.

Banking Moments of Truth, Session 3

This session on banking Moments of Truth briefly overviews one element under the broad heading of, “ Listening.” In future sessions we’ll overview other subjects under this heading.

In many banks the group in banking that management least tends to solicit input from, and listen to, is its tellers and CSR’s. These key staffers often see and talk with more customers daily than management sees and talks with in a week or a month. Plus, customers tend to open up to tellers and CSR’s about their likes and dislikes more than they tend to open up to management. As we recommend programs to banks to not only train their tellers and CSR’s, but also to actively seek their input, we occasionally get comments from management that focused efforts to seek teller and CSR comments would only end up in “ gripe” sessions!

In working with tellers and CSR’s for years, we can emphatically say that nothing could be further from the truth! As a group, tellers and CSR’s are dedicated to the bank and helping it succeed , and giving them opportunities to input is sincerely appreciated and effective for the bank. You may be able to initiate and develop these programs on your own, but if you need help, get it from us or from someone else you know can help. Soliciting input from your tellers and CSR’s. It’s a listening Moment of Truth that is much too important to delay acting upon!

Banking Moments of Truth, Session 2

Moments of Truth. Moments which may seem like small moments, but which can positively or negatively influence big decisions. In my last message I briefly referenced a Moment of Truth that happened to my wife and myself at a restaurant. Today I’ll throw out another Moment of Truth in the first of a series of Moments of Truth which happen every day in banking.

Someone calls the bank or a department in the bank, and asks to speak to (name). The telephone response from some bank employees is to simply ask, “Who’s calling?” What does that response mean to the customer or prospect calling the bank? Research tells us that many people have little or no positive or negative response. It also tells us that more than a small percentage of callers have the mental response that, “ If I’m the right person calling, I’ll get to speak to (name), if I’m not, I won’t get to speak to him/her.” Should the caller have that somewhat negative reaction to the bank staffer’s response? Probably not. Do many of them have it? Absolutely! It’s a Moment of Truth.

So what should the telephone responder say when the caller asks to speak to someone. Research tells us that the simple response, “ May I tell (name) who’s calling?”rarely evokes a negative response, and often evokes a positive one. It’s simple, it’s easy, and it’s a positive Moment of Truth.

Banking Moments of Truth

In banking, we deal with all sorts of regulations, policies, procedures, and systems. Some of these we can manage and control, others we cannot. Dealing with complex banking challenges tends to make us overlook simple things we can more easily control that are very important. In these brief comments, I’ll overview a subject, and in subsequent comments, I’ll develop it with specifics.

What are “Moments of Truth?” They are things which may seem small, but things which influence big decisions. To illustrate, I’ll start with an example away from banking. Several months ago after a Sunday morning church service, my wife and I went to a nice local restaurant for lunch. When we went inside, the hostess, with an expression on her face that said we were interrupting, looked up and said, “We don’t open for lunch for ten minutes.” We sat down in the waiting area, but we didn’t feel as welcome as we should have felt.

Perhaps the hostess felt bad. Or was rushed. Or whatever. But whatever her problem was, it should have been put aside when we came in. How much more welcome would we have felt if she had said something like, “Thanks for coming in. We open for lunch in about 10 minutes, but if you’ll have a seat in our waiting area, we’ll seat you as quickly as possible.” She might even have offered us a cup of coffee. It was a “ Moment of Truth “ opportunity that should have been handled better.

Banking “Moments of Truth.” We’ll be covering them in the next few messages.

It's Time To Get Our Pride Back

I especially enjoy the Summer months, especially since my wife and bought a house with a beautiful swimming pool seven years ago. This time of year, when I've been really busy, or travelling a lot to see clients, or just need to think, I often grab my favorite float and just float around the pool, mentally solving all the world's problems!!! On the 4th of July we had our kids and grand kids over, and amidst the family fun, food and festivities, we had the chance to reflect on the pride we all need to have in our great country. We may have our problems, but there has never been a country as great as this one, or a country that has helped so many other countries across the world!

Last night in the pool, I was thinking about our banking industry, and the pride we should have in that too. As I work with our client banks and talk to customers across the country, I find that most people don't buy the news media doom and gloom coverage of " the banks", and I find that the vast majority of people still highly respect their banks and bankers. And for good cause. I rarely meet a banker that is not committed to the service and services that help his/her customers and communities! Providing strong financial services has always been a key to our nation's success, and that's not going to change. Take pride in what you do, who you serve, and how much you help people. That's a healthy pride, a pride you've earned!!!!

Steady, Not Spectaclar, Gets It Done!

This past week-end, I was glued to my flat screen TV watching the greatest golfers in the world at the US Open Golf Championships at California's fabled Pebble Beach course. The views were spectacular, the course challenging and difficult.

Its often been said that sports represent a microcosm of life. I think there is certainly some truth to that. I've observed that week-to-week on the regular courses the PGA plays, the winning score is often 10, 15, or 20 under par. Spectacular scoring! The courses are not set up to be as difficult as the US Open courses are set up to be. At the Open course every year, the course is so difficult that par or over often wins. Par won this past week-end when Northern Ireland's Graeme McDowell won, shooting a final round with only one spectaclar hole, but avoiding the disasters that hit every other leading contender as they tried for the spectacular!

What does that say to us about life? Two simple things: One, the more difficult the circumstances...like an on going tough economy and rapidly changing regulations...the more bankers need to focus on fundamentals like great customer service, sound lending, and time honored banking practices. Its not the time to go for the spectacular " birdies " of life, that can lead to the bogies, double-bogies, and " others ." And, its the time to make sure our people understand and buy into that! Stay steady, and make the birdies when clear opportunities arise. Think about it!