Let’s face it, when your bankers are out making sales calls on business prospects, they usually have nothing “new” to offer them…no new products or services, no new pricing discounts and no new insider financial information. So why should a business prospect drop their existing bank just to do business with your bank? Now that sounds like a perfectly reasonable question for the business prospect to ask…but you would be surprised how few of your own bankers really have a good answer. Think about that for a moment…your bankers can’t give a good reason for a business prospect to move their relationship to your bank! They may as well show up with a box on their head that says, “Why not me?”
Oh your bankers boldly tell the business prospect that “decisions are made locally” or “you offer more personable service” but most business prospects recognize this as the usual banker-speak BS! Hey, 9 chances out 10 most business prospects are not very happy with their current bank. But if they are going to go through all the hassle and cost of changing banks, they have got to have a really good reason. And it’s up to your bankers to give them those reasons.
So what are some good reasons for business prospects to move their banking relationships? Here’s what your business prospect want to hear:
You Care: Tell them what your bank does to demonstrate to business prospect that you care. Most business owners rarely see or hear from their current banker unless they want to sell them something or there’s a problem with their account. So if your bank has a better process for caring for your business clients, let your business prospect know it.
You Add Value: Explain how your bank goes beyond the standard customer service expectations to provide more value to the business prospect. Give them real live examples. How does having their account at your bank give them more “bang for the bucks?”
You Deliver What’s Promised: Banking relationships are built on trust and business prospects want to know that your bank is dependable and will deliver on promises.
To get business prospect to do business with your bank, your bankers need to be able to give them good reasons. If your bankers can sincerely explain how they care about them, add value and deliver what’s promised, and provide examples, they will be well on their way to getting a new business client.