filings for that secured party. With no significant lending relationship, there would often not be a UCC, so adding PPP data to the mix has proved a tremendous benefit, especially when targeting deposits. Differentiation — The Keys to the Kingdom: At the end of the day, every prospect has to be able to answer the same question: “Why should I endure the pain (real or perceived) of switching banks?” The decision has to come down to a very simple concept. The prospect has to believe that he or she will be measurably better off with your bank than with the incumbent. This brings us back full circle to the questions that every banker should be able to answer: • What are you going to do to help my business flourish? • How important will I be to you and your bank? • If I have a problem or need an issue addressed quickly, who would I call? • How available will they be? • Will they have the motivation and authority to address my issue in a timely manner? What Matters Motivates: Our firm has spent the last 31 years helping commercial bankers get in front of decision-makers (owners and CFOs) who are open to exploring an alternative or supplemental banking relationship. While rates and fees are always an issue, by far the greatest motivator, based on thousands of conversations, is the relationship. Unless you’re dealing with a large corporate client where a few basis points can make a big difference, many of these decision-makers tell us that what they appreciate is a banking partner that can answer the five questions above as they would want them answered. As many community and regional banks are making investments in infrastructure, technology and more appealing solutions for their commercial customers, perhaps the most direct and cost-effective path to commercial growth is developing and fine-tuning the relationship-building skills of their sales team. By helping and encouraging your sales team to focus on creating customer success, the path from “lender” to “leader” may be as easy as swapping out a letter. Stay up to date from your couch, office or even the moon! TAKE US ANYWHERE! Place a 1” x 1” QR Code White on Black Here to the main website Scan to read the most recent publication. INDEPENDENT REPORT | 25
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