What’s in a Name?

Every Monday our branch managers participate in a weekly teleconference. During the call, each manager gives an update on the status of their location in regard to sales and service. In addition to discussing accounts opened and loans closed, our managers also discuss how they interact with their customers. Here is one great example.

About a year ago a customer opened a small account with the bank. Recently the customer came into the branch and opened a large account. When asked why he opened the larger account, he said, “For over forty years, I have had an account at (competitor). Nobody at that branch knows my name. I have one small account with your bank and everyone that works here knows my name. Everyone here says hello to me when I walk in and says goodbye when I leave. That is why I will be closing all my accounts at the other bank and move all the accounts to you.”

Wow! Now I’m not going to go out and say which competitor the customer was talking about, but I will point out some differences.

  • The competitor has five (5) locations in the county. We only have one (1).
  • The competitor advertises great rates. We are able to provide better service at a premium price.
  • The competitor brags about providing great service. We remember our customers’ names (sorry, couldn’t resist).

At the end of the day, we are a business where people interact with people. Is it worth getting a “great rate” if the person you’re doing business with doesn’t even know you, your business or even your name?

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About Jeremy M. Price
For twelve years, I had the pleasure of working in community banking. Starting in customer service, I worked my way up to a senior level marketing and human resources director. It was great leading teams that improved strategic initiatives including, but not limited to brand awareness, digital communication, employee development and product development. This experience has now led to an exciting role with CRS Data. As the Product Marketing Analyst, I am currently reviewing the company's banker suite product. This product is able to help community banks reach their fullest potential in real estate lending. I am extremely fortunate to share time with my son while enjoying life in East Tennessee. The two of us enjoy the views of the Smokey Mountains, eating good food and having fun. During my free time, I enjoy running races, traveling and listening to great live music.

One Response to What’s in a Name?

  1. Pingback: What’s in a name? More than you think. | JuMP Around

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