Magazine article Independent Banker

Connection Quandary

Magazine article Independent Banker

Connection Quandary

Article excerpt

After offering all the necessary digital deliveries, what should I do now?

Just 16 years ago community banks were leaning into the idea of Internet banking and bill payment. Many bristled at the thought of anyone in their right mind using the Internet to transact banking business, much less pay their bills. Ten years before that was the argument about whether people would use an automated teller machine. The fact is that your customers' needs are pretty consistent, but their means of access have definitely evolved.

With a quickly evolving culture and societal reliance on mobile technology, community banks are quickly adapting to new customer demands. However what may be missing in the quest for expanding access is remembering to ask for their business: all their business.

All too frequently opportunity slips out the backdoor when technology is relied upon to replace an important step in a process. As consumers and small businesses use the Internet to seek out information, including the "best deal," many unknowingly complicate their lives in an attempt to save money or time. While there are definitely price shoppers, there are just as many convenience and value shoppers; those people who are willing to pay a little more for better service.

What are you doing to capture all the business your customers have to offer? What should you be doing right now?

Ask yourself these three questions:

1 If you took a good, hard look at your existing customer base, how many additional relationship opportunities exist for you? Mortgages, credit cards, auto loans, investments, college financing-the list goes on and on. …

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