Why do you call yourself a community bank? Is it because your bank’s owners, directors and employees live in your community? Are they involved in the community? Do they belong to the Rotary Club? Do they sing in the church choir? Do they lead a Boy Scout Troup? If not, why not? Being involved in the community is the only way to really be a community bank and it’s one of … [Read more...]
Build a Killer Calendar: 12 Months of Marketing Ideas that Work!
As you know, I spend a lot of time writing about marketing and advertising plans for financial institutions. The most common response I get is, “Great ideas, but where do I start?” So, today I want to help you put these ideas on your calendar! January: Start today promoting your IRA and SEP’s. Most people in America are starting to think about filing their income taxes … [Read more...]
Why Banks are like Flower Shops
Years ago, I invested in a flower shop. It wasn’t your typical corner flower shop filled with red carnations and yellow roses. In fact, we didn’t even have a shop. All we had was a van for deliveries. I researched the flower industry and found that flower shops have very high margins, but very small profits. The main reason for this is the overhead cost and the fact that … [Read more...]
Wells Fargo, SunTrust and Regions Bank Introduce New Fees
Brace yourself: here come the fees. Last week, we talked about how the country’s banking environment is evolving in light of recent regulatory changes and their negative revenue impact on banks. Recent federal regulations have capped overdraft fees, certain levies on credit cards, and even what banks are allowed to charge merchants when customers use their debit … [Read more...]
Bananas, Baking Soda and Bank Marketing
What do bananas and baking soda have to do with bank marketing? I thought you would never ask. Let’s start with the bananas… If I were to hold up a bunch of bananas and asked an audience what they were, most would probably agree they were bananas. But if I held up a green banana and asked the same audience how many would buy this particular banana, less than half would raise … [Read more...]