bizjournals | Customer Service Solutions, Inc.

Redefine “Access” to Treat Customers Special - 11/29/22


One of our clients puts on major events throughout the country.  When we conduct post-event surveys, many of the attendees rave about the access they had to certain entertainers, locations in the venue, parking lots, or even information.  Others decry the fact that they lacked that access. This does pose Read more

Keep in Mind 3 Key Questions - 11/22/22


Customers want to be heard.  If they have an issue or need or something that requires your support, they want to be understood. When we are trying to find a resolution or fulfill a need, when we’re trying to help a customer achieve their goal, sometimes we can be so Read more

Don’t Let This Shot Affect Your Next Shot - 11/15/22


When I was a teenager, I used to play a lot of golf, and I was pretty good for my age.  I’d have a good attitude and enjoyed the game, but if I hit a bad shot, I’d get upset.  And more often than not, that one bad shot Read more

Value the Customer – Actions to Adopt and Avoid - 11/8/22


When conducting research for a local government CSS client, we interviewed and conducted surveys with many of their customers.  We analyzed the results of the research based on those who had a great experience v. those who did not.  We uncovered that there were distinct differences between customers who Read more

Appreciate to Appreciate - 11/1/22


Why doesn’t Jay, my co-worker, respond to my e-mails or get his task done on time? It’s hard to respect the delay, the incomplete work, the lack of follow through on the part of your co-worker. Why does the customer seem so harried and so frustrated? It’s hard to value the customer Read more

The Customer Can Hear Your Attitude - 10/25/22


Sherry was sitting in the lobby, waiting to be called back for her appointment.  Just off the lobby was an office that Sherry was sitting near.  The person in the office was on a phone call, but Sherry couldn’t see the employee.  She could tell it was a call Read more

How to Handle the Customer’s Error - 10/18/22


Are all of your customers perfect?  Anyone?  Bueller? Of course, customers are not perfect.  Neither are we, but let’s focus this Tip on what they do wrong and what we can do about it in a professional, positive, and productive manner: When the customer isn’t clear, you respond: Is it OK Read more

Critique Yourself before Others Do - 10/11/22


When we’re criticized, we can get defensive, push back, deflect blame to others, and focus more on defending ourselves than really listening to what the other person is saying.  And some of us who get defensive, once we allow our emotions to settle, take time to reflect on what Read more

Find a Connection Point – Part 2: Situational Connection - 10/4/22


Last week we highlighted key topics to consider when you want to find Personal Connection Points with the customer.  Today, we’ll cover some key questions to ask to uncover information about today’s situation that you can use to establish a rapport with the customer.  This is Part 2 - Read more

Find a Connection Point – Part 1: Personal Connection - 9/27/22


Some people are born almost like a master at communication.  They know how to establish rapport with just about anybody, and they do so in a way that seems so natural and so real.  They can form relationships and be laughing with somebody they met two minutes ago like Read more

Banking on Deposits Requires More Than Acquisitions

Posted on in Business Advice, Carolinas Please leave a comment

Many small banks are trying to increase their core deposits, relying less on fees to generate revenue. And while this is a good thing for many banks, there needs to be a retention component to the core deposit growth strategy.

In the article Small Charlotte-area banks get creative in boosting core deposits, Adam O’Daniel makes the point that small banks in the Carolinas are attempting to increase core deposits (i.e., local deposits) to help fund growth because of their stable nature; remember that cash that comes in from loans or short-term investments creates more variability, uncertainty, and risks for banks than cash from core deposits.

The way many of these banks are growing core deposits is through acquisition. The concept is that if the small banks buy even smaller banks in small towns, the acquirer would have that stable cash flow for a long period of time to fund other activities. Without getting too much into the minutia, here’s the key customer retention-related point – just as banks have acquisition strategies to buy other banks, they need culture-oriented strategies and client retention and growth strategies which address the employees and customers they acquire.

Internally, these banks need to be looking at how they retain the small town staff that have formed the relationships with the customers – because the customer relationship and loyalty may be more with “my Teller, Betty” than with “Bank XYZ.” The banks need to ensure that executives are incented for retention just as much as profits, since the acquisition assumed that the core deposits would be retained. And the banks need to have processes in place to quickly analyze and get to know their new customers, build relationships with them, and proactively seek to grow those relationships once retention is solid.

When trying to grow through acquisition, make sure you’re not going to lose the good employees and solid clients you acquire. Understand what drives loyalty at the local level.

Interested in improving your company’s customer service? See more at our new website! http://www.cssamerica.com/

Read our New Book – “Ask Yourself…Am I GREAT at Customer Service?” http://www.amigreatat.com/

Listen to our latest podcast episode of “Stepping Up Service” on The MESH Network at http://themesh.tv/stepping-up-service/