Turned Off by Sign Ups

Have you experienced this:

You’re researching a topic via a Google search and you find the perfect sounding link.  You click on the link and before you can read the message, the screen goes dark and a “Sign Up for our Newsletter” pop up screen appears.  You click the top right “x” button and, as you begin the read the page, another pop up screen appears.

Sign-UpFrustrating, right?  But why do sites insist upon doing this?

Gaining an Audience

If you are a business owner or a marketer, you understand the importance of getting a website visitor to sign up to receive notifications from your company.  You  want to create an audience so you can build your sales pipeline.

  1. You create content and when people find it on the internet, you ask them to join your mailing list.
  2. Just in case they “accidentally” click on the cancel button, you add another mailing list request.

It’s a good strategy, but being overbearing about a sign up list is just a bad tactic.

You want to position yourself as an expert.  The problem is you have just positioned yourself as a pushy salesman.  And who likes doing business with a know-it-all pushy salesman?

Drinking from a Fire Hose vs. Building Momentum

UHF Fire Hose SpadowskiWhen someone comes across as a pushy salesman, most of  the time it’s because they are forcing their ideas/approach onto somebody.  It’s like drinking from a fire hose: getting too much too quickly.

Instead of hosing your audience down, provide sales opportunities on your audience’s time basis.  This requires more effort, but it can fill your pipeline with more qualified leads.

Here are a couple of marketing tactics you can use to fill your sales pipeline.

Create a White Paper

Do your customers and prospects experience a problem you can solve?  Build a white paper and publish it online.  Design a landing page that gives a summary and then collect the person’s information so you can email them a copy.  For examples, check out Hubspot.  They do an excellent job of creating meaningful white papers.

Ask for Advice

Looking to launch a new product or service?  How about sending a customer survey before finalizing it?  Produce a quick online survey and ask for contact information.  Once you launch the product/service, notify the prospect and you’re set.

But once you collect this information, how do you bridge the gap between curiosity and sales?

Not Seeing the Forest For the Trees

Tall TreeEveryone has heard that old saying, and it rings true with this process.  Once you start gathering different people signing up to receive your messages, get to know them.  Find out what they are interested in and how your company can help them.

  • Create an internal “Groups” list
  • Deliver specific messages custom to your groups

You may even discover that you will need to sub group each list, but don’t get lost in the forest.

  1. Keep your main goal in mind: Your goal is to create a profitable relationship, not to spend countless hours creating content to an audience that has no intention of engaging with your product or service.
  2. Don’t harass your audience: Here is a real life example.  I recently connected with an account representative for a local ad agency on LinkedIn.  He emailed me and asked me to join a mailing list, to which I did.  About three days later, I started receiving several daily emails from him and his company.  Within less than 10 days, I ended up unsubscribing to all of the company’s email communication.  The funny thing is, this company prides itself on being an inbound marketing company.

Do Unto Others

A note to end on:

Do unto others as you would have them do unto you.

Keep this in the back of your mind as you create an inbound sales process.  Would you like to be bombarded by a company?  What makes you think anybody else would want that?

 

 

 

 

 

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Deliver on Your Word

Sounds simple, right? But what happens when you don’t deliver on your word.  Here is a real life example that happened just a few days ago.

Throughout the year, the Big 12 has been playing the following commercial during every conference game.

The commercial brags that there will be one champion.  The irony: The Big 12 had co-champions this year.  The Big 12’s decision makers couldn’t decide who was better team: Baylor or TCU.

The Big 12’s indecisiveness may have caused their conference a spot in the inaugural college football playoffs.  But instead of blaming the Committee in charge of the playoffs, let’s examine the actual statement from the Big 12.  It’s really simple, deliver on you what you say.

Reputation and Branding

It’s a term marketers and executives use all the time, “Our Brand.”  Regardless if you see branding as a strength or a bunch of malarkey, keeping your word in business is your reputation, and that is part of your brand.  When you go against your word, whether intentional or not, you tarnish your brand.  Once your reputation and brand are damaged, it takes time, energy and money to fix it.  The bad news is that those are resources you could be using to expand your business and increase revenue.  What’s even worse is that depending on how bad it is, it your reputation and brand may never be fully repaired.

Big 12 Example

Big-12-LogosThe following Monday after the Big 12 crowned their co-champions and the College Football Playoff committee named the top four, both national and local sports radio stations started attacking the Big 12.  A local sports show (note that there are no Big 12 teams located near my town of Knoxville, Tennessee) spent nearly an hour dissecting the issues with the Big 12, most notably the fact that there are only 10 teams in the Big 12, which prevents them from hosting a playoff to crown a conference champion. The sports show’s co-host then went on to state how hard it will be to get to two good college sports programs to join the Big 12 due to the fact the conference is not being represented in the inaugural college football playoffs.

Whether this is a short-term or long-term public relations issue for the Big 12, remains to be seen.  Most likely this will fade with time, but the radio host brings up a good point in that it will be hard to recruit a good team and now the Big 12 may have to lower their standards/expectations and bring on two schools that are not of the same caliber as their top performers.

Make Good on Your Word

If the Big 12 would have just picked Baylor as their Big 12 Champion, then maybe…maybe the conference would have a team in the playoffs.

Simply put, if you say you are going to do something, then do it.

But what happens if you can’t deliver on your promise?

  1.  NO overselling: Promise on what you know you can deliver.
  2. Be proactive: Don’t procrastinate; start working on delivering your promise immediately.
  3. Make no excuses: Without compromising your morals or ethics, exhaust every option you have.
  4. Communicate Up Front: If you are running behind on your promise, communicate up front to see if a delay will be a deal breaker.

This all seems like common sense, but unfortunately it happens on a regular basis.  What’s even worse, as customers we accept this type of service and keep giving businesses money for not delivering on their promise. Think about it: how many businesses promise you something and don’t deliver on that promise?  Do they try to make up for it?  If not, do you continue doing business with them?

Commercial Bank Branding and Football Logos

Titans HelmetsHow is it football fans can cheer for teams even though they continue to disappoint fans season after season? Better yet, how can banks learn from this during a period of employee turnover?

Let’s use the Tennessee Titans as an example.  I’m a huge Titans fan and became a fan when Coach Jeff Fisher was the head coach, Eddie George was the starting running back and Steve McNair was leading the team as quarterback.  All three people are no longer with the Titans.

  • Jeff Fisher: Now coaching the St. Louis Rams.
  • Eddie George: Hosting a college pre-game show for Fox.
  • Steve McNair: Traded to the Baltimore Ravens in 2005, retired in 2008 and passed away in 2009.

This season, The Tennessee Titans have a record of 2-10, and consist of:

  • Coach Ken Whisenhunt: A head coach who runs a traditional offensive scheme that contradicts Coach Fisher’s “Run-n-Gun” approach during the McNair era.
  • Running Back Committee: Instead of a starting running back, the Titans use a three-man approach.
  • Quarterback Problems: The Titans have started three different quarterbacks this season.

So why…why do I stay a fan of the Tennessee Titans.

Steve McNair was traded to Baltimore, so why am I not a Ravens fan?

Coach Fisher is in St. Louis, so why am I not a Rams fan, instead of staying with the Titans? 

I originally became a Titans fan due to proximity.  I live in Tennessee, and the Titans are in Tennessee.  But it soon become an emotional connection as the Titans seem to be an underdog.  Shoot, even when Steve McNair was chosen as MVP in 2003, he had to share the title with Payton Manning.

What can Banks take away from this?

Recently I wrote a post that touched on hiring commercial lenders based on their loan portfolio.  The flip side of this is what happens when a bank loses a commercial lender that has a successful portfolio.

Loosing a Strong Loan Producer

It happens to just about any community bank.  The have a top producing commercial lender who gets an offer they can’t refuse from a competitor.  They leave and immediately the bank accepts the fact that they are going to lose current customers due to “their banker” leaving.  Many times, banks start building a reactive checklist, but what if they started a proactive campaign.

Reactive Approach

Making a ListAs the bank starts searching for a replacement, the bank will also review the leaving commercial banker’s portfolio so it can be divided up between their current commercial lenders.

A good bank will also look at the profitability of each customer in the portfolio to see who is unprofitable and see this as an opportunity to “lose” this customer.  Plus, they will make sure to focus their attention on profitable and potentially profitable customers on the list.

This is a good strategy that every community bank should follow, but consider adding a proactive strategy that may already tie into your marketing and sales efforts.

Proactive Approach

Instead of waiting for a commercial lender to leave, consider these tactics to entrench your customers into your bank’s brand.

  • Email Communication: Let’s assume your bank’s sales culture has a calling program in place where your commercial lenders are required to meet with their entire portfolio at least three times a year.  If that is the case, what other forms of communication does your bank use to communicate to these customers?  A bank can create an email program where the bank is sending meaningful information.  It can be about a new service, business advice or anything else that the customer would deem useful.  This approach not only keeps customers in the communication loop, but also ties them to your bank’s brand beyond the commercial lender.
  • Customer Recognition: Find ways that your bank can recognize this customer and their business.  For example, if the commercial customer has a retail business, highlight their business to your customer base, and make sure the customer knows about it.  You may even want to let a bank executive notify the customer.  That way the customer now has a connection another banker in your organization.
  • Connect on Social Media: If you have a company presence on social media, make sure you are connected to your customer base.  Better yet, if your CEO or other executives are on a social media platform (i.e. Twitter, LinkedIn or Pinterest), make sure they are connected with the customer and engaged with them.
  • Team Approach: Most likely a commercial lender works with a team of people when dealing with their customers.  It may be a loan processor, or maybe a cash management specialist.  Either way, it is important that your commercial customers know the entire team.  Make sure your commercial lender introduces the support staff to their customers, or at the very least, their top customers.  Also consider creating a mentoring program, where the commercial lender takes an up-and-comer out with them on customer calls.

Brand Focus

You are connecting your customer to other people and outlets of your bank.  This will continue to establish the brand of your organization by reenforcing the strengths your bank has, and will make any customer think twice before they leave you to join their “former banker.”

Now if the Titans can just get their act together, I won’t be looking for another NFL franchise.

Finding Mr. Right

Having trouble selling a product or service that you think is perfect?

Inspector Jacques ClouseauCommunity banks are finding themselves in this situation.  More and more people are looking to outside competitors for banking assistance.

  • Credit unions are supplying people with low-interest rate car loans.
  • Reloadable pre-pay cards are offering an alternative to traditional checking accounts
  • Mobile apps are creating new ways to pay for bills and exchange money between people

These three options are great, but here’s the catch: community banks offer some (if not all) of these services. The problem is that people either do not want do business with a bank or they are unaware that banks offer these services.

How can community banks overcome this issue?

Image Crisis

Inspector and Chief InspectorIt is no surprise that banks have received bad publicity over the past 6 years.  Bank closures, bailouts and fraud have caused public opinion of banks to collapse.  Unfortunately for community banks, people tend to lump big banks and local community banks together in this mess.

To help overcome this, banks need to work on their public relations efforts by reaching out to potential customers and to the communities they serve.  The issue is that many community banks are stretched thin, so it is important that a consistent message is communicated so you can maximize your exposure.

Keep a consistent message

Call it a tagline, slogan or sayin’, but whatever you call it, make sure you keep it consistent.  By keeping a consistent message, people will start recognizing it.  But remember, even if you and your staff are getting tired of the message, keep it up.  The last thing you want to do is keep changing your message.  Constant change means you are hitting the restart button with your audience.

No Exposure

Inspector and WomanIs your bank advertising, communicating and marketing in the right places? For example, if you are wanting to grow your customer base among 20 -34 year olds, then advertising on an AM radio station between the hours of 10am – 1pm may not be the most effective place.

Make sure you are where your market is, and focus your attention to it.

  1. Research where your target market is.
  2. Craft a message that will get their attention and give a call to action.
  3. Follow through to see if your efforts are working or if it needs tweaking.

As previously mentioned, most community banks are stretched thin, so make sure your communication is done in a creative way that will get people’s attention.

Creative Communication

If a bank wants to increase the number of CDs it has, then running an average newspaper advertisement may do the job, but that doesn’t mean you can communicate the same way when trying to reach a digital based customer.

If you are trying to reach a young, digital audience, then find out where these customers are. Do you have a presence on Twitter or Instagram?  If not, think about how you can translate your message on these sites. Even if you do have a social presence, what are you doing locally to get their attention?  If you can effectively communicate on a digital and local level, you will amplify your message and yield stronger results.

Pay Attention

Inspector BombBefore jumping into new waters, be sure to research.  Make sure your perfect product/service is what your intended target market wants.  Once it is launched and you have communicated your message, listen to your audience.  If your audience likes it, use that as a stepping stone.  If your audience has issues with it, use that as a stepping stone too.

The last thing a community bank wants is their efforts to backfire and blow up like a bomb.

 

 

 

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