Mindset
When it comes to annual goal setting, it's not uncommon for bankers to simply pledge to do 5% more than last year again and again, sometimes succeeding and other times failing. This can often lead to frustration, but according to Carlson, setting higher goals might be the solution to getting out of a rut. If you aim for linear growth, you will likely stick to the same methods and work harder to increase your productivity. If you shift your mindset and aim for exponential growth, you are more likely to think outside the box, be creative, and find new solutions like small business loan origination software or other automation tools to help you achieve your goals. Be ambitious and set higher goals for yourself.
Market
You need to be selective about which potential customers you pursue, which means identifying the right prospects. As part of its business strategy, your bank should have well-defined and specific criteria for screening your leads and eliminating the ones who are not suitable for your services. You should also use data and analytics to group your prospects based on their behavior, interests, and needs to find a niche in which you are successful. This way, you can work to become the go-to banker in your geographical area or a particular industry due to your expertise.
“Most bankers overestimate their ability to close people on their targeted list and they don’t have enough pipeline to hit their goals,” Carlson said. He advises bankers to create a list of 25 solid target prospects to prioritize closing and a second, longer list of targets in their niche. Contact and stay connected with the second list with a consistent drip campaign that will keep your bank top of mind but focus your efforts on the smaller list first.
Marketing
Bankers tend to stop and start marketing efforts as their schedules allow, but good marketing is consistent. It takes planning and time to reach the right decision-maker with the right information. Create a monthly marketing calendar to plan what you want to show your potential customers, and keep in mind that the easiest formats for campaigns aren’t always the most effective. Email is fast and inexpensive, but direct mail might make more of an impact.
Whatever marketing tactics you employ as part of your bank business strategy, your messaging cannot be all about you and your bank. Look for ways you can add value to your potential customers and use your marketing materials to show them how you can help them reach their goals. Carlson suggests creating a banking podcast and inviting small business owners to share their stories. Ideas like this create deeper relationships with potential customers without overtly selling.
Multipliers
Movement
Maintenance
Metrics
