Independent Banker - May 2018 - 61

For example, First Community Bank and Trust has
created a series of educational videos on a variety
of topics, such as a video that explains how to use
its First eMobile banking app. The bank pushes out
scheduled messages to customers through diff erent
channels, including direct emails, Facebook, LinkedIn
and Twitter. Each message includes a link that brings
customers back to the videos that are posted to the
bank's online education center.
7.
Track cross-sales activity
Tracking cross-selling activity can provide
some insight on how to improve the sale
of specifi c products and services. The data helps to
identify people who are not eff ective at cross-selling
based on the opportunities that they had, allowing the
bank to provide more training, support and tools to
those individuals to help them improve. It
also allows a bank to leverage people
who do a very good job of crossselling
by using them as a resource
to help train other sales staff .
Eff ectively tracking a crosssell
ratio shouldn't be diffi cult
for community banks. Some
banks used to use a manual
process and big banks use
online workbooks to input
production on new accounts
and products. Community
Bank Consulting Services
Inc. provides its clients with a
simple Excel spreadsheet tool
to document points of contact
with new and existing clients
and what, if any, products were
sold in that interaction. " It
takes literally three minutes a
month to calculate the crosssell
ratio for each account
representative, " David says.
8.
Leverage
incentive plans
" I think incentive
plans are extremely important
to excite people to go above and
beyond just being an order taker, "
says McDougald. For example,
Texas First uses an incentive plan
9.
" It is going
to take some
time to get
customers to
engage [with
marketing
messages].
Eliminate the clutter
Some banks off er customers too many products
and choices. Instead of a focused list of three
or four checking accounts, a bank might have 10 diff erent
options. Banks need to focus on products that people want
to buy and discontinue some of the obsolete products and
services that do not attract new activity. For example, if a
bank off ers seven personal checking accounts, and
through reporting fi nds four types of checking
accounts were not opened, the bank can
remove those from the brochure. It's OK
to service those existing accounts, but
removing them from marketing brochures
helps to " eliminate the clutter " and allows
bankers to focus more specifi cally on
relevant products that people want to buy
today, notes David.
10.
So, we just have to
be diligent about
keeping that up
without being
intrusive. "
-Greg Ohlendorf, First
Community Bank and Trust
Be persistent
Keep up a steady fl ow
of outreach messages to
recipients. Banks have to get over the
feeling that they have messaged on a topic
too often. A recipient may ignore that
message the fi rst 10 times it is put in front
of them before they engage with it.
" We don't know which message and
which format is going to grab their
attention, or which particular day, "
explains Ohlendorf. Maybe a customer
is bored sitting in an airport or a waiting
room and decides to open and read that
email because he or she has nothing else
to do. " It is going to take some time to get
customers to engage, " he says. " So, we just
have to be diligent about keeping that up
without being intrusive. "
Beth Mattson-Teig is a writer in Minnesota.
independentbanker.org Q 61
that off ers a bonus for individuals who meet individual
and team goals that include hitting a cross-sell ratio goal,
a sold product goal and a referral goal. The cross-sell ratio
goal is calculated on new customers during the fi rst 90 days
with the bank.
Individual incentives are also tied to meeting customer
service standards, which are a bigger priority for the
bank. If a team at a particular location does not achieve a
minimum standard for customer service, then no one gets
an incentive payout at that location, adds McDougald.
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Independent Banker - May 2018

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