Magazine article American Banker

Here's a Quick Test for Measuring Your Marketing Efforts

Magazine article American Banker

Here's a Quick Test for Measuring Your Marketing Efforts

Article excerpt

The following marketing self-audit was submitted by Richard H. Tubbs Jr., president of New Marketing Directions in Gaithersburg, Md.

1. Do you have any competition?

2. Have you had any large setbacks due to a large turnaround in any of your community's three leading industries?

3. Do you know which products or services contributed the most to your growth last year?

4. Do you know, within five points, what percentage of your market is:

a) Empty-nest households?

b) Mature parents with college expenses?

c) Earning $25,000 or more annually? $40,000?

d) At present using an equity loan?

5. For each category above, do you know what services this segment of the market will need over the next five years?

6. If you answered "yes" to questions 4 and/or 5, do these figures come from sales reps or chambers of commerce?

7.When you meet, socially, with a prominent local businessman (or woman), do you know the last date when you offered a specific product or service to that business?

8. Are you just thinking about branches, just starting to use branches, or uncertain about whether your branches are really contributing to profitability?

9. Are you thinking about adding any new services or products?

10. Do you have any bad news about operations that might arouse the interest of the local press?

11. Do you receive letters of praise from customers on a regular basis?

12. Has a customer ever complimented a bank employee for selling him or her an extra service?

13. Within one point, do you know what percentage of your present customers bank with you, at least in part, because of something you did in the community?

How to Score Yourself

If you answered "yes" to questions 1,2,6,8,9, or 10, score five points each

If you answered "no" to questions 3,4,5,7,11,12, or 13, score five points each. …

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