Hoosier Banker 53 An even larger prospect group consists of individuals who are dissatisfied with their current PFIs. Yet how can you find those prospects who would consider your financial institution convenient? The simple answer: The right type of data. Begin by modeling your current customers as a starting point for your branch-convenience footprint. If the prospect group is too large, fine-tune by adding characteristics of current customers to the targeting model. Most current-customer attributes are more reliable than purchased demographics. Add more (big) data to enhance your best-prospect model. Suppose you could determine which of your branches is convenient for prospects by overlaying their cell phone usage and GPS data? With the prevalence of mobile devices, this has become a predictive indicator and an excellent real-world example of big data applications. Finally, don’t wait until after the prospect’s life event has happened. Limit your prospect audience by fine-tuning the model while you increase your contacts with these quality prospects. Then you are likely in front of them prior to a trigger event that prompts them to seek a new primary financial institution. Product Isn’t Marketing’s Silver Bullet For core customer acquisition, the inclination is to seek that single product that answers growth goals ‒ yet there isn’t one. While your product is important, it’s only a single component of your entire activity system. Along with product, consider characteristics such as simplicity, customer advantages, ease of sale, profitability and more. Ignore any of these factors, and growth becomes difficult or even impossible. A good product may have a variety of different looks, if it follows the right mix of activity system components. Bottom line: Consider the little things that make growth happen. They are the important glue that hold your activity system together and make it successful. HB Jennifer A. Andres has been named to the board of directors of Citizens Bank, Mooresville. She is an attorney in private practice with The Andres Group LLP and previously worked for Bamberger, Foreman, Oswald, & Hahn LLP. Andres is active with the Air & Waste Management Association, Town of Plainfield Redevelopment Commission and the St. Susanna School Commission. She is also a member of the Plainfield Chamber of Commerce and a volunteer for Leadership Hendricks County, the Indianapolis Bar Association Hospice Program, Low Income Will Workshop and Ask a Lawyer. Andres earned a bachelor’s degree from Indiana University and a JD from the Indiana University School of Law. Robert M. Branaman has been appointed to the board of directors of TPB Bancorp, Brownstown, and its subsidiary, The Peoples Bank, Brownstown. Branaman joined the bank in 1978 as IT manager. He was promoted to cashier and vice president in 1988 and to his current position of chief financial officer, executive vice president in 2005. He is also the treasurer of TPB Bancorp and serves as secretary of the board of directors. Branaman is a past charter member of the Jackson County Industrial Development Corp. and a past member of Schneck Medical Center Foundation and Bedford Regional Medical Center Foundation. He also served as a member of the Medora Community School board of trustees for 14 years. Branaman attended Indiana University, Liberty University and the Graduate School of Banking at the University of Wisconsin. FROM THE BOARD ROOM siem See you at MegaBooth#103! Who ‘s watching when controls don’t work as planned? tour.infotex.com
RkJQdWJsaXNoZXIy MTg3NDExNQ==