Revealed... the truth about teller referrals. You can boost revenues with customers you already have.
I'd like tell you about Fincentric Leadbuilder, a proven, evolutionary marketing tool that will help increase your customers' share of wallet, grow more fee income, and create more profitable relationships with your customers. And even better... it works with your existing marketing and core banking systems.
In the mid-80's, a bank marketing executive's priority was all about community handshaking, image, advertising and any other community spirit activity that lent the bank a good name. As you know, times have changed. Today, the bank marketing executive's success is measured against new metrics such as customer acquisition costs and overall return on marketing investment.
With the evolution of marketing databases, marketing departments started to consolidate customer accounts into household relationships, run any query on the fly, see who is profitable and who is not, and best of all, target prospects with specific offerings. The only challenge is that targeted marketing tactics such as direct mail or brochures sent with printed statements have response rates as low as 2%.
Let's look at the goals set forth by the CEO at the last strategic planning session. As a banking executive, you need to find a way to increase:
- Fee income
- Share of wallet
- Asset growth
- Shareholder return.
Simply put, to achieve these goals, you need to continue offering excellent customer service and retain and grow your profitable customers. Plus, you need to continually nurture unprofitable customers and upsell profitable relationships to them.
How do your customers stack up?
Studies show that the majority of your customers are most likely to have one or two products each. (Source: Developing & Implementing World Class Sales & Service Performance. Financial Selling Systems, Inc. 2006). And, no matter how you stack it, your most valuable customers are the ones who buy four or more products.
If this picture of a typical Customer Pyramid rings true for your bank, then it's time to shake up your marketing strategy and create more Preferred Customers.
At Fincentric, our proven automated teller referral system is designed to work with systems you have and integrate easily into your frontline's natural workflow.
Fincentric Leadbuilder is a teller referral software tool that works with your existing systems to bridge the divide between marketing teams and sales and service representatives. Every time a customer contacts your bank, our specialized software will automatically search your marketing campaign file and present the best offer for that specific customer onscreen. Tellers will see a fresh, customized message pop up onscreen. The leads tellers generate are automatically sent for branch manager distribution to the sales team for follow-up. For example:
Look at all the ways you can make your bank shine
| Your Challenges |
How Fincentric Leadbuilder Helps Your Bank Succeed |
| Increase your sales pipeline without the incremental customer acquisition costs |
Automatically alerts tellers of marketing campaign opportunities during regular transaction sessions |
| Streamline efficiency with minimum effort for tellers |
Present ready-to-use, targeted marketing messages on desktop screens in everyday language |
| Generate higher customer acceptance rates than traditional lead generation and Direct Mail print campaigns |
Provide offers that are current, a good fit, and have not been purchased, applied for, or declined by customer before |
| Save time involved in typical manual teller referral program |
Route 'one-click' leads to the appropriate department for follow-up in just seconds |
| Get more out of existing systems |
Takes your marketing database data and presents it automatically on the desktops of your frontline staff |
| Work with your existing business process |
Manage lead lists and track the success of your campaigns automatically |
| Fit with your current software |
Tight integration with Microsoft PowerPoint, Outlook and Excel |
| Keep training costs down |
Works with industry-standard Microsoft technology your tellers are already trained in and familiar with |
Don't just take my word for it.
County National Bank is just one success story.
"To get a greater response to marketing efforts, we're concentrating on our existing customers. That's what will make the bank profitable: our ability to create deeper relationships with customers." - Helen Kolar, VP Marketing & Sales, County National Bank
When County National Bank rolled out Fincentric Leadbuilder software to 13 of its 20 branches, they dramatically increased their referrals for add-on products and services. In the first quarter of 2006, 100 tellers generated 11,000 qualified leads. In six months, they achieved an increase of 114% for customers receiving e-statements. This saved the bank nearly $12,000. County established a close rate of 33% for products - far surpassing their goal of 25%.
Other success stories
- First National Bank South East
- People's Bank
- United Community Bank
- National Bank of Arkansas
- Gainsville Bank & Trust
- PFF Bank
And more.
With Fincentric Leadbuilder, you'll receive the software systems, plus the business process, technical and project management expertise to support it and make the most of your new technology. Using our proven system, you will enjoy the fruits of your marketing campaigns at the frontline.
Sincerely,
Bill Sheaf,
Fincentric Corporation
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Bill Sheaf has over 20 years of sales experience in the financial software business. Before joining Fincentric Corporation, Bill was a partner and National Sales Manager for Transcend Systems Group Inc., where he introduced the first low-cost, comprehensive CRM product offering for community banks. Prior to Transcend, Bill spent over ten years with the Harland organization selling database management systems (MCIF) to banks countrywide.
What you need to know before buying a lead generation system
As an industry specialist, I know there's a lot of confusion in the emerging field of lead generation and management. To clear up some confusion, and to save you valuable time and money before you buy a lead generation software, here are six things you need to make sure:
The system must be flexible and customized to meet the specific needs of your financial institution.
For ease of use and faster implementation, it should use and integrate with your current operating system your staff is familiar with.
It should come with proven implementation and project management expertise.
The system must be able to leverage your existing marketing customer information systems or else it may require expensive new add-ons.
The system should offer an automated teller referral process that delivers leads straight to the sales desk, not just the back-end reporting and analytics.
Tellers and business managers should be able to use the system as a seamless fit into their natural workflow.
Why Fincentric Leadbuilder is the best choice you can make
We've been in the financial services business for over 22 years and understand your needs and challenges.
Our system is designed for bank marketing executives like you, and we understand the need to keep it simple and easy to use.
We're backed by major brands you know and trust - like Microsoft.
Fincentric Leadbuilder has been tried and results are proven by industry peers and bank institutions just like yours.
It is the only lead generation system that automates your teller referral program all the way from the teller to the sales desk.
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