Bio:
Rick Wemmers is senior partner with BankMarketingpros.com which offers business development help to banks across America. Rick has more than 20 years of successful bank business development experience (large and small banks). His company provides ideas and action plans on how to build deposits, profits, market share and to invigorate the sales culture in your bank. Rick has written extensively on bank marketing topics and has been a frequent speaker at banking conferencees and seminars.
Areas of Expertise:
Marketing
Sales Training/Culture Building
Questions Answered
01/05/2009
I read this in an undated document:"Documented studies have indicated that, in the financialindustry, for example, the cost of each new account acquiredcan run over $250. One major bank’s actual cost for everynew account opened is over $375."Can this be correct? If it is not proprietary information could you tell me the cost to acquire a new checking or savings account customer?
11/10/2008
Is there a good source where I can find some marketing ideas for generating new business for bankers in our branches ?
10/20/2008
We currently have a promotion on HELOCs with a much lower rate than last year. As a part of the promotion, we sent out a direct mail piece to a special group of our current customers. Now we want to follow up this piece with a phone call to have another touch point with our customers to see a better ROI. By regulations standards, can we discuss the rate on the phone with the customers without have to say all of what is in the small print (what is printed in an ad)? What about if we leave a voice mail for the customer?
09/08/2008
We are thinking of offering new high rate savings accounts at only one of our branches. The branch is in a more affluent area than our other branches. Do you see any discrimination issues with this?
06/09/2008
Are there any compliance concerns in any area for advertising that "we will give you $20 if you come into our bank and no one speaks to you or should we not respond to your request within a reasonable period of time"? This is applicable to everyone alike - customers and non-customers.
04/14/2008
Where can a person get a sample HELOC brochure showing all requirements to be in compliance?
02/11/2008
I help with public relations for a small bank that has four branches. The bank needs to find a better system for their officer call program. It is not coordinated and we are afraid that some people are calling the same people twice. What suggestions do you have for setting up an officer call program?
12/10/2007
We routinely send out customer surveys to our retail customer base. We urge them to complete and return the surveys to us postage paid. We tell them that by completing and returning the survey, they will be entered in a drawing to win a Starbucks gift card. Do we run afoul of any compliance rules?
10/08/2007
What is a benchmark amount that banks use for their marketing budget? I'm looking for a percent of total assets or total income or something like that.
09/10/2007
I am a trainer and our bank has started a customer call program. They want our CSRs to go out and visit our customers. They don't want the CSRs to be pushy or aggressive with product sales, but they do want them to try to generate deposits. Our CSRs are very young and really don't know how to go about making these "courtesy" calls without coming across as a sales person. It is my job to train them or give them ideas on how to do this. Can you help?
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