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When a bank's business development team gets charged up and ready to call on prospects, they’re often so eager to talk, they forget to find out about what’s keeping the prospect up at night. "Me, me, me!", they say. Don't be that guy.
When I was a new college freshman, a classmate who was also from out of town attempted to make a deposit in the local “first national bank.” It wasn’t the same “first national” that she had at home, but she hadn’t realized that. Some big confusion about her account ensued.
Nearly every financial institution has a slogan. They believe it helps set them apart from competitors. And they think it’s a key part of their brand. While that may be so, we see two big problems with a majority of these slogans: 1) they don't truly differentiate, and 2) there’s no real support behind the promise.
Your first answer might conjure playground riddles from first grade: a frog in a blender. But it also might be the answer to a common struggle for merging institutions: their advisory boards.
Without proper planning and an intentional effort, blending cultures of two advisory boards may cause things to “go round all day.”
Mergers and acquisitions are increasingly commonplace in the financial industry. So if your institution is joining or acquiring another, what do you do to ensure a perfectly blended culture that leads to consistent brand and customer experience at all branches?
Look no further than the '70s-era TV show, the Brady Bunch for inspiration. Here are 3 takeaways you can use to get started.
