branch banking https://mkpteam.com/ en When Choosing a Bank, What Matters Most? https://mkpteam.com/blog/when-choosing-bank-what-matters-most <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_entity_view' --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_2col_stacked' --> <!-- FILE NAME SUGGESTIONS: * ds-2col-stacked--node--274.html.twig * ds-2col-stacked--node-blog-post-rss.html.twig * ds-2col-stacked--node-blog-post.html.twig * ds-2col-stacked--node-rss.html.twig * ds-2col-stacked--node.html.twig x ds-2col-stacked.html.twig x ds-2col-stacked.html.twig --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <div data-history-node-id="274" class="node node--type-blog-post node--view-mode-rss ds-2col-stacked clearfix"> <div class="group-header"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'links__node' --> <!-- FILE NAME SUGGESTIONS: * links--node.html.twig x links--inline.html.twig * links--node.html.twig * links.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-display-title--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-display-title.html.twig * field--default--field-display-title--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-display-title.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-display-title--blog-post.html.twig * field--node--field-display-title.html.twig * field--node--blog-post.html.twig * field--field-display-title.html.twig * field--string.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-display-title field--type-string field--label-hidden field__item"><h2><a href="/blog/when-choosing-bank-what-matters-most" hreflang="en">When Choosing a Bank, What Matters Most?</a></h2> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-publish-date--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-publish-date.html.twig * field--default--field-blog-publish-date--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-publish-date.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-publish-date--blog-post.html.twig * field--node--field-blog-publish-date.html.twig * field--node--blog-post.html.twig * field--field-blog-publish-date.html.twig * field--datetime.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-publish-date field--type-datetime field--label-hidden field__item"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'time' --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> <time datetime="2023-05-05T12:00:00Z" class="datetime">Friday, May 5, 2023</time> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-left"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-main-image--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-main-image.html.twig * field--default--field-blog-main-image--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-main-image.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-main-image--blog-post.html.twig * field--node--field-blog-main-image.html.twig * field--node--blog-post.html.twig * field--field-blog-main-image.html.twig * field--image.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-main-image field--type-image field--label-hidden field__item"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'responsive_image_formatter' --> <!-- BEGIN OUTPUT from 'core/modules/responsive_image/templates/responsive-image-formatter.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'responsive_image' --> <!-- BEGIN OUTPUT from 'core/modules/responsive_image/templates/responsive-image.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'image' --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/image.html.twig' --> <img srcset="/sites/default/files/styles/max_325x325/public/2023-05/MKP_Choosing_Bank_01b.jpg?itok=wPVpsAI4 325w, /sites/default/files/styles/max_650x650/public/2023-05/MKP_Choosing_Bank_01b.jpg?itok=DXrWtbzv 650w, /sites/default/files/styles/max_1300x1300/public/2023-05/MKP_Choosing_Bank_01b.jpg?itok=fxgG_Y3p 1200w" sizes="(min-width: 1290px) 1290px, 100vw" src="/sites/default/files/styles/max_325x325/public/2023-05/MKP_Choosing_Bank_01b.jpg?itok=wPVpsAI4" alt="Image of a spinner with different icons an the words, &quot;What matters most when choosing a bank&quot;" typeof="foaf:Image" /> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/image.html.twig' --> <!-- END OUTPUT from 'core/modules/responsive_image/templates/responsive-image.html.twig' --> <!-- END OUTPUT from 'core/modules/responsive_image/templates/responsive-image-formatter.html.twig' --> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--body--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--body.html.twig * field--default--body--blog-post.html.twig * field--default--blog-post.html.twig * field--default--body.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--body--blog-post.html.twig * field--node--body.html.twig * field--node--blog-post.html.twig * field--body.html.twig x field--text-with-summary.html.twig * field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p><em>By Cathy Planchart, Senior Project Manager</em></p> <p> </p> <p><span><span><span><span><span><span><span>Many people consider banking a commodity; what each bank offers is pretty much interchangeable. So, when a person goes shopping for a bank, what attributes factor into their choice? To explore this question, I took myself shopping for a new bank. Being middle-aged and more of a traditionalist, I narrowed my shopping list to four banks in my town which I could personally visit. I’ve been thinking of opening a retail store, so I decided to inquire about a business checking account. </span></span></span></span></span></span></span></p> <p><span><span><span><span><span><span>Bank #1 – a regional bank. I was personally greeted and then referred to the branch manager, “as she knows </span></span></span><span>more about business checking accounts than I do.” The manager introduced herself and invited me into her office. She asked many questions, showing a genuine interest in my new business, and shared a lot of good information. She explained the paperwork I needed to open an account and provided excellent product recommendations. I left knowing they have great services for businesses and carrying a flyer she printed off outlining a special package of products for small businesses with attractive pricing.</span></span></span></span></p> <p><span><span><span><span><span><span>Bank #2 was a national bank. Again, I was personally greeted and then referred to the assistant branch manager. I explained I wanted to know about business checking accounts. He responded, “There isn’t enough time to open an account right now.” It was 4:45pm. I said, “I’m just inquiring.” So, we went to his office, and he asked a lot of questions, even the name of my potential store! He shared with me a very comprehensive saddle stitched brochure about business banking products, highlighting what turned out to be the highest-level checking account. Before leaving, he</span></span></span><span> gave me three business cards: his, one for merchant services, and the branch manager’s. He added, “He [the branch manager] is really great at helping small businesses.” I asked, “How much time is needed to open a business checking account?” He replied, “30-40 minutes.” </span></span></span></span></p> <p><span><span><span><span><span><span>Bank #3 was a community bank, based in my home state. It had that community bank feel with five different styles of 2023 calendars on the counter for the taking and signs announcing their current food drive. I was greeted upon entering and after presenting my request, the person walked away, got a brochure, opened it to the page describing the business checking accounts, and laid it down on the counter. I proceeded to read it to myself. She was silent, didn’t ask any questions, and never mentioned her name. I thanked her and left, taking the brochure with me. It does have a lot of information about all banking services, but this was never pointed out. The employee was very disengaged.</span></span></span></span></span></span></p> <p><span><span><span><span><span><span>Bank #4 was also a community bank. There was just one person working behind the counter, helping a customer, with another waiting. To pass the time I picked up a Business Banking brochure from the counter. When it was my turn, again I was referred to the branch manager. She walked me through the account options using some laminated sheets. I was surprised to learn there was a $10/month fee for online bill pay and she recommended I get checks from a 3rd party, “not our expensive vendor.” She did most of the talking but did ask a few questions and explained the documents I would need to open my account. </span></span></span></span></span></span></p> <p><span><span><span><span><span><span>After reflecting on these experiences, for me the most important attributes in choosing a bank were my personal interaction with the banker, the level of interest they took in me and my business, receiving service recommendations matched to my needs and having a comprehensive offering of tools and services. So, who did I choose? Bank #1.</span></span></span></span></span></span></p> <p><span><span><span><span>I found it interesting that in all instances, the person greeting me could not handle my inquiry about business checking accounts and referred me to someone else. Perhaps this is a process banks have instituted to get a “warm lead” to someone who has more experience at closing the sale. Certainly, employees receive product and sales training. Are they further supported with product information guides and sales tip sheets to which they can refer? In all instances I was able to leave with some printed information about available products and services, which I found helpful. It was obvious the bankers found the brochures equally helpful for leading our conversation. </span></span></span></span></p> <p><em>MKP communications inc. is a New-York based marketing communications agency specializing in merger/change communications for the financial services industry.</em></p></div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> </div> <div class="group-right"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-category--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-category.html.twig * field--default--field-blog-category--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-category.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-category--blog-post.html.twig * field--node--field-blog-category.html.twig * field--node--blog-post.html.twig * field--field-blog-category.html.twig * field--entity-reference.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-category field--type-entity-reference field--label-above"> <div class="field__label">Blog Category</div> <div class='field__items'> <div class="field__item"><a href="/taxonomy/term/31" hreflang="en">branch banking</a></div> <div class="field__item"><a href="/taxonomy/term/53" hreflang="en">customer experience</a></div> <div class="field__item"><a href="/taxonomy/term/36" hreflang="en">banking industry</a></div> </div> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-footer"> </div> </div> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> Fri, 05 May 2023 14:54:31 +0000 max 274 at https://mkpteam.com Simple ways to delight banking customers https://mkpteam.com/blog/simple-ways-delight-banking-customers <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_entity_view' --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_2col_stacked' --> <!-- FILE NAME SUGGESTIONS: * ds-2col-stacked--node--266.html.twig * ds-2col-stacked--node-blog-post-rss.html.twig * ds-2col-stacked--node-blog-post.html.twig * ds-2col-stacked--node-rss.html.twig * ds-2col-stacked--node.html.twig x ds-2col-stacked.html.twig x ds-2col-stacked.html.twig --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <div data-history-node-id="266" class="node node--type-blog-post node--view-mode-rss ds-2col-stacked clearfix"> <div class="group-header"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'links__node' --> <!-- FILE NAME SUGGESTIONS: * links--node.html.twig x links--inline.html.twig * links--node.html.twig * links.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-display-title--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-display-title.html.twig * field--default--field-display-title--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-display-title.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-display-title--blog-post.html.twig * field--node--field-display-title.html.twig * field--node--blog-post.html.twig * field--field-display-title.html.twig * field--string.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-display-title field--type-string field--label-hidden field__item"><h2><a href="/blog/simple-ways-delight-banking-customers" hreflang="en">Simple ways to delight banking customers</a></h2> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-publish-date--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-publish-date.html.twig * field--default--field-blog-publish-date--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-publish-date.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-publish-date--blog-post.html.twig * field--node--field-blog-publish-date.html.twig * field--node--blog-post.html.twig * field--field-blog-publish-date.html.twig * field--datetime.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-publish-date field--type-datetime field--label-hidden field__item"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'time' --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> <time datetime="2022-12-09T12:00:00Z" class="datetime">Friday, December 9, 2022</time> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-left"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-main-image--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-main-image.html.twig * field--default--field-blog-main-image--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-main-image.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-main-image--blog-post.html.twig * field--node--field-blog-main-image.html.twig * field--node--blog-post.html.twig * field--field-blog-main-image.html.twig * field--image.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-main-image field--type-image field--label-hidden field__item"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'responsive_image_formatter' --> <!-- BEGIN OUTPUT from 'core/modules/responsive_image/templates/responsive-image-formatter.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'responsive_image' --> <!-- BEGIN OUTPUT from 'core/modules/responsive_image/templates/responsive-image.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'image' --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/image.html.twig' --> <img srcset="/sites/default/files/styles/max_325x325/public/2022-12/SimpleDelights_1200x630_02.jpg?itok=5xE9YjQi 325w, /sites/default/files/styles/max_650x650/public/2022-12/SimpleDelights_1200x630_02.jpg?itok=DEIKcejq 650w, /sites/default/files/styles/max_1300x1300/public/2022-12/SimpleDelights_1200x630_02.jpg?itok=pK0_GnDP 1200w" sizes="(min-width: 1290px) 1290px, 100vw" src="/sites/default/files/styles/max_325x325/public/2022-12/SimpleDelights_1200x630_02.jpg?itok=5xE9YjQi" alt="Image with pen on chain and words &quot;Simple ways to delight banking customers&quot;" typeof="foaf:Image" /> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/image.html.twig' --> <!-- END OUTPUT from 'core/modules/responsive_image/templates/responsive-image.html.twig' --> <!-- END OUTPUT from 'core/modules/responsive_image/templates/responsive-image-formatter.html.twig' --> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--body--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--body.html.twig * field--default--body--blog-post.html.twig * field--default--blog-post.html.twig * field--default--body.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--body--blog-post.html.twig * field--node--body.html.twig * field--node--blog-post.html.twig * field--body.html.twig x field--text-with-summary.html.twig * field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p><em>By Cathy Planchart, Senior Project Manager</em></p> <p><span><span><span>What are the top things banks do that annoy their customers? You can Google this and find lots of answers. To flip it around, what are some easy wins for banks to improve the customer experience? There are many bank policies that irritate customers, but, as a bank marketing veteran of 20 years, I know many of these are driven by regulation. Then there are the obvious items. Everyone wants lower (or no) fees and higher interest rates on their deposits. Currently, my checking account earns me a “premium” interest rate of .01%. But I am not going to discuss asset/liability management here. So, I present a few simple things you can do to delight your customers.</span></span></span></p> <p><br /> <strong><span><span><span>Release the pen from the chain</span></span></span></strong></p> <p><span><span><span>While brainstorming this topic, a colleague mentioned she gets annoyed by the “pen and chain.” OK, here is an easy win: get rid of the chains and just provide the pens. Speaking from my career in banking, apparently bank customers eat pens for breakfast, lunch and dinner! As you know, as soon as you leave a loose pen on the counter, it is gone. So, put out a bunch of pens. Experience shows those leave quickly, too. When my former employer bank expanded to around 50 branches, they were buying tens of thousands of logo pens each year to keep the branch lobbies stocked. This strategy provided lots of lasting brand exposure, like putting your logo on the back of a t-shirt. Alternatively, I recently visited a bank branch, and they had a branded coffee cup filled with generic “BIC” pens. I saw it as a lost marketing opportunity, but maybe those “boring” pens stick around longer. To chain or unchain the pen is a cost/benefit equation. And the answer will be different for each financial institution depending on their goals.</span></span></span></p> <p><br /> <strong><span><span><span>Eliminate needless expenditures</span></span></span></strong></p> <p><span><span><span>One person with whom I spoke said he was annoyed by their bank sending them a birthday card. Some customers view these as a needless expenditure and would rather have more interest on their deposits. For others it makes their day. Speaking from experience, for some people it is the only birthday card they receive! I recently celebrated my birthday and for years the card from my financial advisor was the first one I received. This year it was the second. Personally, I like receiving the birthday card and this year’s message was especially touching. But as a former bank marketer, I was disappointed that a generic card was used, although it was personally signed. I feel this was a missed opportunity for brand exposure, versus sending a logo card. Again, we return to the cost/benefit equation. But in the end, do you send a birthday card or not? It depends on knowing the customer’s personal preference and catering to it. </span></span></span></p> <p><br /> <span><span><span><strong>Tell the customer what they need to know</strong></span></span></span></p> <p><span><span><span>In first-party research I conducted, a business owner was especially annoyed by their bank not communicating a Relationship Manager change. They lost their point of contact with the bank and didn’t know where to turn. To make matters worse, this happened when applying for their PPP loan in the midst of the global pandemic in 2020. When there is a change at a bank that impacts customers, be sure to let them know. There are things banks must communicate per regulation. Then there are things banks need to communicate, like a Relationship Manager change. Lastly there are things banks want to communicate, like promoting a new loan product. It is important that these ‘change communications’ (as we like to call them at MKP) have a clear goal, target the right message to the right audience, at the right time, and use the right medium. Third-party research has found many customers are annoyed by communications from their bank. “People expect financial institutions to communicate with them in the manner and time they prefer,” said Bill Streeter, Editor in Chief at <strong>The Financial Brand</strong> in an article titled: <em>Banking communications that drive consumers up the wall.</em> As a simple first step, be sure to communicate what your customers need and want to know in a timely manner. Then, to truly delight your customers, thoughtfully choose the communication channel they prefer and personalize the message.</span></span></span></p> <p><br /> <strong><span><span><span>Fix what is broken</span></span></span></strong></p> <p><span><span><span>I have a friend who is disabled. What annoyed him about his bank was an automatic door opener that didn’t work and was left unfixed for a year. Did the branch staff not know about this? Could they not find a repair person? Did they submit a work request that was not acted on? Sometimes it is the little things that matter most. During my tenure in the marketing department at a bank, we created a checklist of “marketing” items to review at a branch. This included examining the outdoor and indoor “condition” of the building, as well as signage. Is there peeling paint, a knocked down fence, stains on the carpet, litter on the lawn? What does this say about your bank’s brand? The checklist also included what brochures and posters were on display, as well as regulatory signage, etc. Empower your branch to take ownership and pride in their facility. Make it easy by giving them a guide to follow and set expectations. Have them document their findings with photos and send the issues to the appropriate places for resolution. Remember, “Marketing is everything and everything is marketing,” as quoted from the January 1991 article in <em>Harvard Business Review</em> titled “Marketing is Everything” by Regis McKenna. </span></span></span></p> <p><br /> <strong><span><span><span>Truly care about the customer</span></span></span></strong></p> <p><span><span><span>“What annoys you about your bank?” I asked a store owner this week. She responded, “Nothing, I love my bank!” So, I asked the obvious follow up question, “Why do you love your bank?” She said, “I have a great relationship with my banker, all those who work at the local branch, and even some higher up people.” For example, she said, “They know I am building a house and they asked me how it was coming along and to send photos! And, no, I do not have a loan with them, they just care about me and take a real interest in me as a person.”</span></span></span></p> <p><span><span><span>I have to agree. Recently, I shopped four local banks in person by walking in and asking about a business checking account. The bank that got the highest marks was the one where I connected with the banker. They took a real interest in me and the new business I am starting, and they offered lots of products I would need, along with a promotional package and helpful information. I left feeling energized. Bottom line, delighting your customers is about connecting with them person to person. So, simply show that you care about them in every interaction.</span></span></span></p> <p><em>MKP communications inc. is a New-York based marketing communications agency specializing in merger/change communications for the financial services industry.</em></p></div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> </div> <div class="group-right"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-category--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-category.html.twig * field--default--field-blog-category--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-category.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-category--blog-post.html.twig * field--node--field-blog-category.html.twig * field--node--blog-post.html.twig * field--field-blog-category.html.twig * field--entity-reference.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-category field--type-entity-reference field--label-above"> <div class="field__label">Blog Category</div> <div class='field__items'> <div class="field__item"><a href="/taxonomy/term/36" hreflang="en">banking industry</a></div> <div class="field__item"><a href="/taxonomy/term/31" hreflang="en">branch banking</a></div> <div class="field__item"><a href="/taxonomy/term/23" hreflang="en">customer relations</a></div> </div> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-footer"> </div> </div> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> Fri, 09 Dec 2022 19:34:12 +0000 max 266 at https://mkpteam.com Why America Needs More Black-Owned Banks Now https://mkpteam.com/blog/why-america-needs-more-black-owned-banks-now <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_entity_view' --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_2col_stacked' --> <!-- FILE NAME SUGGESTIONS: * ds-2col-stacked--node--229.html.twig * ds-2col-stacked--node-blog-post-rss.html.twig * ds-2col-stacked--node-blog-post.html.twig * ds-2col-stacked--node-rss.html.twig * ds-2col-stacked--node.html.twig x ds-2col-stacked.html.twig x ds-2col-stacked.html.twig --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <div data-history-node-id="229" class="node node--type-blog-post node--view-mode-rss ds-2col-stacked clearfix"> <div class="group-header"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'links__node' --> <!-- FILE NAME SUGGESTIONS: * links--node.html.twig x links--inline.html.twig * links--node.html.twig * links.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-display-title--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-display-title.html.twig * field--default--field-display-title--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-display-title.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-display-title--blog-post.html.twig * field--node--field-display-title.html.twig * field--node--blog-post.html.twig * field--field-display-title.html.twig * field--string.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-display-title field--type-string field--label-hidden field__item"><h2><a href="/blog/why-america-needs-more-black-owned-banks-now" hreflang="en">Why America Needs More Black-Owned Banks Now</a></h2> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-publish-date--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-publish-date.html.twig * field--default--field-blog-publish-date--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-publish-date.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-publish-date--blog-post.html.twig * field--node--field-blog-publish-date.html.twig * field--node--blog-post.html.twig * field--field-blog-publish-date.html.twig * field--datetime.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-publish-date field--type-datetime field--label-hidden field__item"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'time' --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> <time datetime="2022-02-01T12:00:00Z" class="datetime">Tuesday, February 1, 2022</time> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-left"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-main-image--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-main-image.html.twig * field--default--field-blog-main-image--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-main-image.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-main-image--blog-post.html.twig * field--node--field-blog-main-image.html.twig * field--node--blog-post.html.twig * field--field-blog-main-image.html.twig * field--image.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-main-image field--type-image field--label-hidden field__item"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'responsive_image_formatter' --> <!-- BEGIN OUTPUT from 'core/modules/responsive_image/templates/responsive-image-formatter.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'responsive_image' --> <!-- BEGIN OUTPUT from 'core/modules/responsive_image/templates/responsive-image.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'image' --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/image.html.twig' --> <img srcset="/sites/default/files/styles/max_325x325/public/2022-02/MKP_BHM_02B.jpg?itok=9Ch4WY_e 325w, /sites/default/files/styles/max_650x650/public/2022-02/MKP_BHM_02B.jpg?itok=auHG74hE 650w, /sites/default/files/styles/max_1300x1300/public/2022-02/MKP_BHM_02B.jpg?itok=px5_7oEc 1200w" sizes="(min-width: 1290px) 1290px, 100vw" src="/sites/default/files/styles/max_325x325/public/2022-02/MKP_BHM_02B.jpg?itok=9Ch4WY_e" alt="Freedman&#039;s Savings Bank on Pennsylvania Avenue in Washington, D.C." typeof="foaf:Image" /> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/image.html.twig' --> <!-- END OUTPUT from 'core/modules/responsive_image/templates/responsive-image.html.twig' --> <!-- END OUTPUT from 'core/modules/responsive_image/templates/responsive-image-formatter.html.twig' --> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--body--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--body.html.twig * field--default--body--blog-post.html.twig * field--default--blog-post.html.twig * field--default--body.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--body--blog-post.html.twig * field--node--body.html.twig * field--node--blog-post.html.twig * field--body.html.twig x field--text-with-summary.html.twig * field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p><span><span><em><span><span>By Maxwell Chalkin, Chief Digital Officer and Senior Project Manager</span></span></em></span></span></p> <p><span><span><span><span>In the year 1865, just after the conclusion of the Civil War, Congress chartered the Freedman’s Savings Bank for newly freed ex-slaves. It was a bank founded with the intention of helping newly freed African Americans achieve financial freedom in addition to freedom from the shackles of slavery. The bank was an initial success, attracting many thousands of Black depositors and millions of dollars in deposits, and opening branches across the country.</span></span></span></span></p> <p><span><span><span><span>Freedman’s Savings Bank was run by white men, and Black Americans were denied the right to be involved in the bank’s decision-making. And what did the white men who ran the bank do? They ran it into the ground. Mismanagement, abuse, fraud (one board member even directed bank funds to his family business) and the volatile economic climate of the day resulted in the bank’s failure in 1874.</span></span></span></span></p> <p><span><span><span><span>Tens of thousands of African Americans had put their faith in the Freedman's Savings and Trust Company. When the bank failed, its depositors (who had been misled to think their deposits were guaranteed by the federal government) suffered a catastrophic financial loss. To this day, depositors and their heirs have only recovered about half of the lost deposits.</span></span></span></span></p> <p><span><span><span><span>Trust in the mainstream banking system by Black Americans was shattered; it would be 14 years before another bank catering specifically to the African American community would emerge. But emerge it did, and, this time, the bank—Capital Bank in Washington, D.C.—was organized and operated by African Americans. By 1906, there were 33 Black-owned banks in America, a figure that has ebbed and flowed over the course of time, tracking the fortunes of the economy and banking industry, and the Black constituencies these banks served. In 2010, there were 36 black-owned banks in the U.S. By 2020, that number had dwindled to 21.</span></span></span></span></p> <p><span><span><span><span>Black banks, especially the early ones, were as focused on serving their communities as they were on turning a profit. They encouraged savings, created programs to help the unemployed, offered home loans with atypically favorable terms and lower interest rates and even supported working-class clientele by staying open later for customers who couldn’t leave work to come into the bank.</span></span></span></span></p> <p><span><span><span><span>Over the years, these banks have provided a ticket to upward mobility for generations of Black Americans who were born into a structurally inequitable system. The racial wealth gap in the United States is vast: according to the Brookings Institution, the average American white family has a net worth of $171,000—almost 10 times more than the average Black family. Black communities are more likely to be poor and have underperforming schools, crumbling infrastructure and inferior access to healthcare. These disparities are the direct result of a cycle of Black poverty that started with America’s dark history of slavery and continues to present day.</span></span></span></span></p> <p><span><span><span><span>Among the most flagrant examples of structural financial discrimination is the history of the Federal Housing Administration (FHA) and its legacy of promoting “redlining.” When the FHA was created as part of FDR’s New Deal and the National Housing Act of 1934, its goal was to make home ownership more affordable by insuring mortgages. People of color were intentionally left out to appease Southern Democratic supporters and secure their votes in Congress.</span></span></span></span></p> <p><span><span><span><span>The mechanism of this de facto segregation policy was underwriting standards discouraging home loans in areas “infiltrat[ed]” by “inharmonious racial or nationality groups.” The government provided a thinly veiled racist rationale: the need to protect taxpayers’ investment, and the investments of white homeowners, against the threat Black neighbors would pose to property values.</span></span></span></span></p> <p><span><span><span><span><span><span>The FHA went on to develop underwriting standards to help lenders, appraisers and real estate professionals identify high-risk areas the FHA wouldn’t insure. Low-risk neighborhoods were predominantly white communities, and high-risk neighborhoods, outlined in red ink on maps, were minority communities. This practice gave rise to the term “redlining” to describe low-income and minority home seekers’ inability to secure loans because they were “redlined” into high-risk categories.</span></span></span></span></span></span></p> <p><span><span><span><span><span><span>The FHA also favored new housing in the suburbs over older urban housing, warning that such properties “have a tendency to accelerate the rate of transition to lower class occupancy.” Moreover, it supported segregation in schools and physical barriers like highways to protect neighborhoods from “adverse influences.”</span></span></span></span></span></span></p> <p><span><span><span><span><span><span>These different forms of redlining methodically cut Black Americans out of the best way American families have had to develop generational wealth: homeownership. Inexpensive, FHA-insured home loans enabled white families to purchase homes in suburban and exurban neighborhoods that ballooned in value over time. These families could make a profit by selling their homes to other white families who also secured competitive mortgages, and they could take cash out of their homes to launch new businesses, renovate their homes or pay for their kids’ educations. And, over time, they could bestow this wealth on their children, and the flywheel repeats.</span></span></span></span></span></span></p> <p><span><span><span><span><span><span>FHA-insured home loans were not available in urban areas. While white families secured cheap mortgages and moved out of the inner cities to the suburbs, Black Americans had no option but to stay. This drained the value of homes in African American neighborhoods where the residents already lacked access to credit to fix aging homes or invest in new businesses. Even well-off Black families struggled to exit urban neighborhoods. In some white communities, exclusionary zoning, neighborhood covenants and deed restrictions prohibited nonwhite occupants. Meanwhile, lower home values and less wealth meant cities had less to invest in schools and physical and social infrastructure. For decades, the cycle of poverty was reinforced in myriad ways—a cycle that continues today.</span></span></span></span></span></span></p> <p><span><span><span><span>It’s undeniable that the last several years have seen America undergo a racial reckoning. Boycotts, protests and other actions against systemic racism have been reverberating around the country, largely in response to high-profile killings of young black men. But systemic racism takes many forms, including financial discrimination and exclusion, the results of which have subjugated generations of black Americans, stymied the development and transfer of family wealth and perpetuated economic disparities that exist to this day.</span></span></span></span></p> <p><span><span><span><span>While Black-owned banks have played and continue to play a vital role incubating and helping grow wealth in Black communities, they simply do not represent a large enough portion of the economy to make a significant difference. Collectively they control just $4.8 billion, less than 1 percent of the nation's banking assets. It is of paramount importance that our local, state and federal governments—and our civic institutions writ large—do a better job of investing in and protecting Black banks and supporting their crucial missions.</span></span></span></span></p> <p> </p> <p><span><span><span><span>Sources:</span></span></span></span></p> <p><span><span><a href="https://www.fedpartnership.gov/minority-banking-timeline/milestones"><span><span>https://www.fedpartnership.gov/minority-banking-timeline/milestones</span></span></a></span></span></p> <p><span><span><a href="https://independentbanker.org/2021/02/black-owned-banks-are-disappearing/"><span><span>https://independentbanker.org/2021/02/black-owned-banks-are-disappearing/</span></span></a></span></span></p> <p><span><span><a href="https://www.blackenterprise.com/black-banks-struggle/"><span><span>https://www.blackenterprise.com/black-banks-struggle/</span></span></a></span></span></p> <p><span><span><a href="https://www.npr.org/2020/07/08/889141681/why-we-need-black-owned-banks"><span><span>https://www.npr.org/2020/07/08/889141681/why-we-need-black-owned-banks</span></span></a></span></span></p> <p><span><span><a href="https://www.washingtonpost.com/opinions/the-new-deal-as-raw-deal-for-blacks-in-segregated-communities/2017/05/25/07416bba-080a-11e7-a15f-a58d4a988474_story.html"><span><span>https://www.washingtonpost.com/opinions/the-new-deal-as-raw-deal-for-blacks-in-segregated-communities/2017/05/25/07416bba-080a-11e7-a15f-a58d4a988474_story.html</span></span></a></span></span></p> <p> </p> <p><span><span><em><span><span>MKP communications inc. is a New York City-based communications company specializing in financial services marketing and merger/change communication.</span></span></em></span></span></p></div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> </div> <div class="group-right"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-category--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-category.html.twig * field--default--field-blog-category--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-category.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-category--blog-post.html.twig * field--node--field-blog-category.html.twig * field--node--blog-post.html.twig * field--field-blog-category.html.twig * field--entity-reference.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-category field--type-entity-reference field--label-above"> <div class="field__label">Blog Category</div> <div class='field__items'> <div class="field__item"><a href="/taxonomy/term/47" hreflang="en">history</a></div> <div class="field__item"><a href="/taxonomy/term/48" hreflang="en">Black History Month</a></div> <div class="field__item"><a href="/taxonomy/term/36" hreflang="en">banking industry</a></div> <div class="field__item"><a href="/taxonomy/term/34" hreflang="en">future of banking</a></div> <div class="field__item"><a href="/taxonomy/term/31" hreflang="en">branch banking</a></div> <div class="field__item"><a href="/taxonomy/term/49" hreflang="en">equity</a></div> </div> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-footer"> </div> </div> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> Tue, 01 Feb 2022 21:45:42 +0000 max 229 at https://mkpteam.com Optimizing the Customer Experience in the Face of a Branch Consolidation https://mkpteam.com/blog/optimizing-customer-experience-face-branch-consolidation <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_entity_view' --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_2col_stacked' --> <!-- FILE NAME SUGGESTIONS: * ds-2col-stacked--node--223.html.twig * ds-2col-stacked--node-blog-post-rss.html.twig * ds-2col-stacked--node-blog-post.html.twig * ds-2col-stacked--node-rss.html.twig * ds-2col-stacked--node.html.twig x ds-2col-stacked.html.twig x ds-2col-stacked.html.twig --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <div data-history-node-id="223" class="node node--type-blog-post node--view-mode-rss ds-2col-stacked clearfix"> <div class="group-header"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'links__node' --> <!-- FILE NAME SUGGESTIONS: * links--node.html.twig x links--inline.html.twig * links--node.html.twig * links.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-display-title--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-display-title.html.twig * field--default--field-display-title--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-display-title.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-display-title--blog-post.html.twig * field--node--field-display-title.html.twig * field--node--blog-post.html.twig * field--field-display-title.html.twig * field--string.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-display-title field--type-string field--label-hidden field__item"><h2><a href="/blog/optimizing-customer-experience-face-branch-consolidation" hreflang="en">Optimizing the Customer Experience in the Face of a Branch Consolidation</a></h2> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-publish-date--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-publish-date.html.twig * field--default--field-blog-publish-date--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-publish-date.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-publish-date--blog-post.html.twig * field--node--field-blog-publish-date.html.twig * field--node--blog-post.html.twig * field--field-blog-publish-date.html.twig * field--datetime.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-publish-date field--type-datetime field--label-hidden field__item"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'time' --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> <time datetime="2021-02-23T12:00:00Z" class="datetime">Tuesday, February 23, 2021</time> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-left"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-main-image--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-main-image.html.twig * field--default--field-blog-main-image--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-main-image.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-main-image--blog-post.html.twig * field--node--field-blog-main-image.html.twig * field--node--blog-post.html.twig * field--field-blog-main-image.html.twig * field--image.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-main-image field--type-image field--label-hidden field__item"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'responsive_image_formatter' --> <!-- BEGIN OUTPUT from 'core/modules/responsive_image/templates/responsive-image-formatter.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'responsive_image' --> <!-- BEGIN OUTPUT from 'core/modules/responsive_image/templates/responsive-image.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'image' --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/image.html.twig' --> <img srcset="/sites/default/files/styles/max_325x325/public/2021-02/closed_sign.png?itok=86Y98iTB 325w, /sites/default/files/styles/max_650x650/public/2021-02/closed_sign.png?itok=IO3M6jzs 650w, /sites/default/files/styles/max_1300x1300/public/2021-02/closed_sign.png?itok=lw6rkqLX 1300w, /sites/default/files/styles/max_2600x2600/public/2021-02/closed_sign.png?itok=TdAJ7Jdi 1432w" sizes="(min-width: 1290px) 1290px, 100vw" src="/sites/default/files/styles/max_325x325/public/2021-02/closed_sign.png?itok=86Y98iTB" alt="Sorry we&#039;re closed sign" typeof="foaf:Image" /> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/image.html.twig' --> <!-- END OUTPUT from 'core/modules/responsive_image/templates/responsive-image.html.twig' --> <!-- END OUTPUT from 'core/modules/responsive_image/templates/responsive-image-formatter.html.twig' --> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--body--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--body.html.twig * field--default--body--blog-post.html.twig * field--default--blog-post.html.twig * field--default--body.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--body--blog-post.html.twig * field--node--body.html.twig * field--node--blog-post.html.twig * field--body.html.twig x field--text-with-summary.html.twig * field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p><span><span><strong><span><span>Optimizing the Customer Experience in the Face of a Branch Consolidation</span></span></strong></span></span></p> <p><em>By Laura DeLaCruz, Director of Project Management and Business Development</em></p> <p><span><span><span><span>The number of bank branches in the United States has been falling for years. Ten years ago, the FDIC reports that there were 95,000 branches, compared to 83,000 in 2019 (<em>source: FDIC.gov</em>). There are myriad reasons for closing locations, such as consolidations related to merger activity, banks leaving a geography, unprofitability and expiring leases, to name a few. </span></span></span></span></p> <p><span><span><span><span>At the same time, banking habits have changed dramatically in recent years due to an increase in online and mobile banking usage for routine transactions, with customers visiting branches only for higher value interactions with branch staff, such as financial advice and guidance. The current pandemic has further accelerated the shrinkage of branch banking as customers have more aggressively adopted digital alternatives. </span></span></span></span></p> <p><span><span><span><span>Regardless of the reason for a branch closure, careful attention must be paid to the customer experience during this time in order to minimize disruption and maximize retention. In a world where branch consolidations are inevitable, here are some tips for making it easier on your customers.</span></span></span></span></p> <p><span><span><strong><span><span>Customer communication is key. </span></span></strong></span></span></p> <p><span><span><span><span>Banking regulations stipulate that banks must notify customers in writing at least 90 days before closing a branch. However, you can turn that compliance necessity into an opportunity to frame the closing in the best possible light while providing the necessary information. Consider the following:</span></span></span></span></p> <ul> <li><span><span><span><span>Briefly explain why the branch is closing in your customer communications. If accounts are being moved to a nearby office, list the receiving branch’s address, phone number and branch manager name to make it more personal. If there are alternate locations nearby, provide the address of those locations too.</span></span></span></span></li> <li><span><span><span><span>Remind customers of your bank’s digital and telephone banking offerings as an alternative way to bank.</span></span></span></span></li> <li><span><span><span><span>Consider using a sidebar in your communication to pull out the key dates and new branch information- this not only helps keep the letter shorter, but it also provides a skimmable set of important “need to know” information.</span></span></span></span></li> <li><span><span><span><span>Highlight any advantages, including new amenities at the receiving branch. These might include a more spacious, full-service facility with walk-up ATM service, safe deposit boxes, ample free parking and/or a drive-up teller; use bullets to draw the reader’s eye to this helpful information. </span></span></span></span></li> <li><span><span><span><span>Include information about branch employees who will be relocated to other local offices if possible. This goes a long way to keep those customer relationships strong.</span></span></span></span></li> <li><span><span><span><span>Consider multiple reminders to affected customers with safe deposit boxes. If the contents of customer boxes must be removed by a certain date, include this information in the 90-day branch closing notification and follow up with an email reminder 60 days prior to closing. A letter sent via Certified Mail at the 30-day mark can provide proof of notification, or customers can be called by branch staff at that time provided the quantity is manageable.</span></span></span></span></li> <li><span><span><span><span>Include customers who transact at the closing branch, even if their accounts are not domiciled there, if the data is available.</span></span></span></span></li> <li><span><span><span><span>Consider who should sign the letter; depending on the bank, this could be the director of retail banking, a regional president or the current branch manager.</span></span></span></span></li> <li><span><span><span><span>Use the bank’s brand voice in the communications. </span></span></span></span></li> </ul> <p><span><span><strong><span><span>Multiple touchpoints will help ensure no customer is caught by surprise. </span></span></strong></span></span></p> <ul> <li><span><span><span><span>Post signage on the branch doors and drive-up teller windows as early as possible to inform and remind customers (and non-customers) of the upcoming closing. This is another opportunity to let your brand shine by using brand colors and fonts for a professional appearance. Consider including a map of nearby branch locations and keep the sign posted even after the branch has closed. </span></span></span></span></li> <li><span><span><span><span>Use take-ones and teller handouts with each transaction as a high-touch way to discuss the closing with branch users.</span></span></span></span></li> <li><span><span><span><span>Consider personal outreach to high-value personal and business customers. This is especially important if branch staff from the closing branch are being transferred to the receiving branch- the continuity in personal service may help customers feel more comfortable during the transition. </span></span></span></span></li> </ul> <p><span><span><span><span>Closing a branch is never a good thing from the customer’s perspective. Many people find  changes in their routine challenging, and using a different branch may not be convenient for them. But following these strategies for smart communication may help mitigate negative impacts and increase retention in the long run.</span></span></span></span></p> <p><em>MKP communications inc. is a New York City-based communications company specializing in financial services marketing and merger/change communication.</em></p></div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> </div> <div class="group-right"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-category--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-category.html.twig * field--default--field-blog-category--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-category.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-category--blog-post.html.twig * field--node--field-blog-category.html.twig * field--node--blog-post.html.twig * field--field-blog-category.html.twig * field--entity-reference.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-category field--type-entity-reference field--label-above"> <div class="field__label">Blog Category</div> <div class='field__items'> <div class="field__item"><a href="/taxonomy/term/31" hreflang="en">branch banking</a></div> <div class="field__item"><a href="/taxonomy/term/39" hreflang="en">customer communications</a></div> <div class="field__item"><a href="/taxonomy/term/36" hreflang="en">banking industry</a></div> </div> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-footer"> </div> </div> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> Tue, 23 Feb 2021 21:39:27 +0000 max 223 at https://mkpteam.com How Have Bank Marketers Changed the Way They Bank During the Pandemic? https://mkpteam.com/blog/how-have-bank-marketers-changed-way-they-bank-during-pandemic <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_entity_view' --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_2col_stacked' --> <!-- FILE NAME SUGGESTIONS: * ds-2col-stacked--node--178.html.twig * ds-2col-stacked--node-blog-post-rss.html.twig * ds-2col-stacked--node-blog-post.html.twig * ds-2col-stacked--node-rss.html.twig * ds-2col-stacked--node.html.twig x ds-2col-stacked.html.twig x ds-2col-stacked.html.twig --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <div data-history-node-id="178" class="node node--type-blog-post node--view-mode-rss ds-2col-stacked clearfix"> <div class="group-header"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'links__node' --> <!-- FILE NAME SUGGESTIONS: * links--node.html.twig x links--inline.html.twig * links--node.html.twig * links.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-display-title--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-display-title.html.twig * field--default--field-display-title--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-display-title.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-display-title--blog-post.html.twig * field--node--field-display-title.html.twig * field--node--blog-post.html.twig * field--field-display-title.html.twig * field--string.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-display-title field--type-string field--label-hidden field__item"><h2><a href="/blog/how-have-bank-marketers-changed-way-they-bank-during-pandemic" hreflang="en">How Have Bank Marketers Changed the Way They Bank During the Pandemic?</a></h2> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-publish-date--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-publish-date.html.twig * field--default--field-blog-publish-date--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-publish-date.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-publish-date--blog-post.html.twig * field--node--field-blog-publish-date.html.twig * field--node--blog-post.html.twig * field--field-blog-publish-date.html.twig * field--datetime.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-publish-date field--type-datetime field--label-hidden field__item"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'time' --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> <time datetime="2020-09-30T12:00:00Z" class="datetime">Wednesday, September 30, 2020</time> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-left"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-main-image--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-main-image.html.twig * field--default--field-blog-main-image--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-main-image.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-main-image--blog-post.html.twig * field--node--field-blog-main-image.html.twig * field--node--blog-post.html.twig * field--field-blog-main-image.html.twig * field--image.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-main-image field--type-image field--label-hidden field__item"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'responsive_image_formatter' --> <!-- BEGIN OUTPUT from 'core/modules/responsive_image/templates/responsive-image-formatter.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'responsive_image' --> <!-- BEGIN OUTPUT from 'core/modules/responsive_image/templates/responsive-image.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'image' --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/image.html.twig' --> <img srcset="/sites/default/files/styles/max_325x325/public/2020-09/MKP%20Site_BnkHabits_0929.jpg?itok=C5NIrL5a 325w, /sites/default/files/styles/max_650x650/public/2020-09/MKP%20Site_BnkHabits_0929.jpg?itok=zvjtuz33 650w, /sites/default/files/styles/max_1300x1300/public/2020-09/MKP%20Site_BnkHabits_0929.jpg?itok=X4Rpj83y 988w" sizes="(min-width: 1290px) 1290px, 100vw" src="/sites/default/files/styles/max_325x325/public/2020-09/MKP%20Site_BnkHabits_0929.jpg?itok=C5NIrL5a" alt="Blue rectangle with text: &quot;Have your banking habits changed in the last 6 months?&quot; over blue rectangle with text: &quot;The MKP team reflects on the &#039;new normal&#039; of retail banking&quot; " typeof="foaf:Image" /> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/image.html.twig' --> <!-- END OUTPUT from 'core/modules/responsive_image/templates/responsive-image.html.twig' --> <!-- END OUTPUT from 'core/modules/responsive_image/templates/responsive-image-formatter.html.twig' --> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--body--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--body.html.twig * field--default--body--blog-post.html.twig * field--default--blog-post.html.twig * field--default--body.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--body--blog-post.html.twig * field--node--body.html.twig * field--node--blog-post.html.twig * field--body.html.twig x field--text-with-summary.html.twig * field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p><em>By Erin O'Brien, Assistant Project Manager</em></p> <p><span><span><span><span>The COVID-19 pandemic closed down almost every bank’s branch network during the height of the pandemic. Even now, most branch lobbies require appointments upon entry so the highest priority banking can be performed.</span></span></span></span></p> <p><span><span><span><span>As bank marketers, MKP was curious about how consumers were adapting to banking without their local branch. Has branch inaccessibility and the growing fear of public spaces pushed all consumers online or are in-person holdouts waiting for the day to return to a branch?</span></span></span></span></p> <p><span><span><span><span>To learn more about the change in consumer banking habits we surveyed our employees to see how their banking habits have changed over the last six months.</span></span></span></span></p> <p><span><span><span><span>Melissa, a customer of her bank for nearly 20 years, has not visited a branch since the pandemic started and has turned to online banking, bill pay, mobile check deposit, electronic transfers and has even started using Zelle to send money from bank to bank.</span></span></span></span></p> <p><span><span><span><span>Maxwell, a customer of his bank for five years, was already enrolled in online banking and completed most of his banking online pre-pandemic, except for having to withdraw cash now and again. He was fluent in his bank’s online platform and didn’t miss a beat when the entire country went remote. When interest rates began falling Maxwell searched online for new banks that offered better rates. He was able to open a new account and make a seamless transition to his new bank completely online.</span></span></span></span></p> <p><span><span><span><span>Charlie, a 22 year-long customer of his bank, lives a mere one block from his local branch and has not changed his habits one bit since his branch truncated its hours and began closing on Wednesdays and Saturdays due to the pandemic. Since he has been working from home he has been able to navigate his branch’s limited hours.</span></span></span></span></p> <p><span><span><span><span>Erin, a customer of her bank for 12 years, regularly uses her bank’s online banking platform and only visits a branch once a month for a cash withdrawal. But recently her social security number was compromised and required additional security on her checking and savings accounts. Over the phone and through her bank’s customer service chat feature, she was able to quickly and easily put a security hold on all her accounts. Several days later she received an unsolicited customer service call from her bank who just wanted to check in and continue to reassure her that her accounts were safe.</span></span></span></span></p> <p><span><span><span><span>Pam, a customer of her bank for nearly 25 years, was already an avid user of her bank’s mobile and online banking platforms before the pandemic. She seldom visited her branch, and only to withdraw cash, but since the pandemic she has found herself going nearly cashless. For her day-to-day purchases she has utilized the contactless payment options and found little need to go to an ATM.</span></span></span></span></p> <p><span><span><span><span>It is clear that everyone has their preferences and habits when it comes to banking, but, at least from our informal company poll, it seems that the pandemic has pushed many consumers to utilize the digital banking platforms at their fingertips. The last holdouts of in-person banking have become few and far between.</span></span></span></span></p> <p><span><span><span><span>For most, the “new normal” of retail banking involves a browser or a smartphone and the customer banking experience has become completely digital. Banks have made this online transition even easier for customers by increasing the mobile check deposit limit, offering virtual tech support to help customers who are not digitally savvy, and increasing customer service calls to check in on customers. Customers are now realizing that banking online may be even easier than visiting a branch.</span></span></span></span></p> <p><em>MKP communications inc. is a New York City-based communications company that delivers spot-on strategy, smart, fresh creative, and flawless execution, exclusively for financial services clients.</em></p></div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> </div> <div class="group-right"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-category--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-category.html.twig * field--default--field-blog-category--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-category.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-category--blog-post.html.twig * field--node--field-blog-category.html.twig * field--node--blog-post.html.twig * field--field-blog-category.html.twig * field--entity-reference.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-category field--type-entity-reference field--label-above"> <div class="field__label">Blog Category</div> <div class='field__items'> <div class="field__item"><a href="/taxonomy/term/40" hreflang="en">current events</a></div> <div class="field__item"><a href="/taxonomy/term/31" hreflang="en">branch banking</a></div> <div class="field__item"><a href="/taxonomy/term/37" hreflang="en">digital transformation</a></div> <div class="field__item"><a href="/taxonomy/term/43" hreflang="en">technology</a></div> <div class="field__item"><a href="/taxonomy/term/36" hreflang="en">banking industry</a></div> </div> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-footer"> </div> </div> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> Wed, 30 Sep 2020 02:00:21 +0000 max 178 at https://mkpteam.com Time to Amp Up Your Branches! https://mkpteam.com/blog/time-amp-your-branches <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_entity_view' --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_2col_stacked' --> <!-- FILE NAME SUGGESTIONS: * ds-2col-stacked--node--163.html.twig * ds-2col-stacked--node-blog-post-rss.html.twig * ds-2col-stacked--node-blog-post.html.twig * ds-2col-stacked--node-rss.html.twig * ds-2col-stacked--node.html.twig x ds-2col-stacked.html.twig x ds-2col-stacked.html.twig --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <div data-history-node-id="163" class="node node--type-blog-post node--view-mode-rss ds-2col-stacked clearfix"> <div class="group-header"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'links__node' --> <!-- FILE NAME SUGGESTIONS: * links--node.html.twig x links--inline.html.twig * links--node.html.twig * links.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-display-title--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-display-title.html.twig * field--default--field-display-title--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-display-title.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-display-title--blog-post.html.twig * field--node--field-display-title.html.twig * field--node--blog-post.html.twig * field--field-display-title.html.twig * field--string.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-display-title field--type-string field--label-hidden field__item"><h2><a href="/blog/time-amp-your-branches" hreflang="en">Time to Amp Up Your Branches!</a></h2> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-publish-date--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-publish-date.html.twig * field--default--field-blog-publish-date--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-publish-date.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-publish-date--blog-post.html.twig * field--node--field-blog-publish-date.html.twig * field--node--blog-post.html.twig * field--field-blog-publish-date.html.twig * field--datetime.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-publish-date field--type-datetime field--label-hidden field__item"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'time' --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> <time datetime="2020-02-18T12:00:00Z" class="datetime">Tuesday, February 18, 2020</time> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-left"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--body--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--body.html.twig * field--default--body--blog-post.html.twig * field--default--blog-post.html.twig * field--default--body.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--body--blog-post.html.twig * field--node--body.html.twig * field--node--blog-post.html.twig * field--body.html.twig x field--text-with-summary.html.twig * field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p><em><span><span>By Laura DeLaCruz, </span></span>Director of Project Management and Business Development</em></p> <p><span><span><span>I began my financial career working in the local branches of a major Boston-based bank, and when I compare those times with the world of branch banking today, one thing becomes crystal-clear – things have changed, big time! Today’s consumers are able to handle more and more of their basic finances remotely, without regular branch visits. So branches have become far less transaction-oriented than they were in my day. And it’s impacting everything from staffing models to the layout of branch interiors and much more.</span></span></span></p> <p><span><span><span>But one thing remains the same: local branches still provide a level of service that consumers simply cannot get through online banking or mobile apps. They allow you to engage customers directly, to build and cement  relationships. They’re your best chance to build loyalty by offering customers and prospects more than what they were expecting when they walk through your doors. </span></span></span></p> <p><span><span><em><span>So isn’t it time your branches started doing something to make visits more interesting and memorable for your customers?  Isn’t it time to amp things up?</span></em></span></span></p> <p><span><span><strong><span>Start with unexpected in-branch creative</span></strong> </span></span></p> <ul> <li><span><span><span><span>Shatter the perception that banking has to be stuffy or monotonous. Use bright colors, humor and bold images to capture people’s attention.</span></span></span></span></li> <li><span><span><span><span>Ensure that your messaging has the same vitality, and infuse your words with the personality and humanity of your brand. </span></span></span></span></li> <li><span><span><span><span>Encourage an emotional response from your target audience. After all, the people you are trying to reach are human beings, so make a connection by speaking to their interests, their needs and who they are as people.</span></span></span></span></li> <li><span><span><span><span>Find ways to be <strong><em>intrusive </em></strong>(in a good way!) both inside and outside the branch. Create stand-up posters and other dimensional displays that demand attention, and then put them in spots where people can’t help but notice them.</span></span></span></span></li> <li><span><span><span><span>Surprise them at the door or at the teller line with an unexpected gift. </span></span></span></span></li> <li><span><span><span><span>Ask yourself this question: at dinner time, will your customers remember visiting your branch today? If not, it’s time to turn up that dial! </span></span></span></span></li> </ul> <p><span><span><strong><span>Involve the staff</span></strong></span></span></p> <p><span><span><span>Adding some pizzazz and excitement at the point of sale energizes not just visitors, but the branch team as well<span>. As a former branch manager, I can tell you that my staff was always looking for opportunities to engage with customers in a way that didn’t feel like they were being too pushy or hard-sell. A great promotion that involves the employees is an easy, organic way to get the ball rolling.</span></span></span></span></p> <ul> <li><span><span><span><span>Create badges or stickers with a few words that invite a conversation. Sometimes all you need is an ice-breaker to make people feel comfortable talking.</span></span></span></span></li> <li><span><span><span><span>Use themed tie-ins to transform the branch into a fun environment: Depending on the creative approach, you can engage employees to:</span></span></span></span> <ul> <li><span><span><span><span>wear team jerseys and baseball caps </span></span></span></span></li> <li><span><span><span><span>wear aprons and chef hats to tie in with food theme </span></span></span></span></li> <li><span><span><span><span>serve foods shown in campaign imagery</span></span></span></span></li> <li><span><span><span><span>hand out “movie star” sunglasses, freshly popped popcorn and theater candy </span></span></span></span></li> </ul> </li> <li><span><span><span><span>Create sweepstakes and giveaways that place the focus on staff interaction to qualify – customers are entered automatically when they have a chat about mortgage financing, or retirement planning, or other major life goals. (Keep in mind that you need to provide a way for people to write-in to enter the drawing.)</span></span></span></span></li> </ul> <p><span><span><strong><span>Tie in the community</span></strong></span></span></p> <p><span><span><span>Adding some excitement to your branch can also serve to build your community roots and promote your brand. Have you got a girls' soccer league that’s raising money for a traveling team?  Support them at your local branch!  Or work with a local animal shelter to connect rescue dogs and cats with loving owners. Support the annual Girl Scout Cookie Drive.  The possibilities are endless!</span></span></span></p> <p><span><span><span>You can also tie in the prizes of your giveaways with local establishments: a dinner for two at a beloved local restaurant or a gift certificate to a local store are prizes that not only entice entrants but help show your support of local merchants.</span></span></span></p> <p><span><span><span>Remember, branches aren’t just for transactions anymore – and that’s a good thing! So find ways to give your visitors a fresh, memorable, exciting experience every time they enter. Make the branch a fun place to stop by, and you’ll be rewarded with more traffic, more sales, more staff involvement… and a more loyal customer base as well.</span></span></span></p> <p><em>MKP communications inc. is a New York City-based communications company that delivers spot-on strategy, smart, fresh creative, and flawless execution, exclusively for financial services clients.</em></p></div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> </div> <div class="group-right"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-category--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-category.html.twig * field--default--field-blog-category--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-category.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-category--blog-post.html.twig * field--node--field-blog-category.html.twig * field--node--blog-post.html.twig * field--field-blog-category.html.twig * field--entity-reference.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-category field--type-entity-reference field--label-above"> <div class="field__label">Blog Category</div> <div class='field__items'> <div class="field__item"><a href="/taxonomy/term/31" hreflang="en">branch banking</a></div> <div class="field__item"><a href="/taxonomy/term/32" hreflang="en">innovation</a></div> <div class="field__item"><a href="/taxonomy/term/33" hreflang="en">creativity</a></div> <div class="field__item"><a href="/taxonomy/term/34" hreflang="en">future of banking</a></div> </div> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-footer"> </div> </div> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> Thu, 13 Feb 2020 18:03:08 +0000 max 163 at https://mkpteam.com We've Walked in Your Shoes https://mkpteam.com/blog/weve-walked-your-shoes <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_entity_view' --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'ds_2col_stacked' --> <!-- FILE NAME SUGGESTIONS: * ds-2col-stacked--node--158.html.twig * ds-2col-stacked--node-blog-post-rss.html.twig * ds-2col-stacked--node-blog-post.html.twig * ds-2col-stacked--node-rss.html.twig * ds-2col-stacked--node.html.twig x ds-2col-stacked.html.twig x ds-2col-stacked.html.twig --> <!-- BEGIN OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <div data-history-node-id="158" class="node node--type-blog-post node--view-mode-rss ds-2col-stacked clearfix"> <div class="group-header"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'links__node' --> <!-- FILE NAME SUGGESTIONS: * links--node.html.twig x links--inline.html.twig * links--node.html.twig * links.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/navigation/links--inline.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-display-title--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-display-title.html.twig * field--default--field-display-title--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-display-title.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-display-title--blog-post.html.twig * field--node--field-display-title.html.twig * field--node--blog-post.html.twig * field--field-display-title.html.twig * field--string.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-display-title field--type-string field--label-hidden field__item"><h2><a href="/blog/weve-walked-your-shoes" hreflang="en">We&#039;ve Walked in Your Shoes</a></h2> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-publish-date--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-publish-date.html.twig * field--default--field-blog-publish-date--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-publish-date.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-publish-date--blog-post.html.twig * field--node--field-blog-publish-date.html.twig * field--node--blog-post.html.twig * field--field-blog-publish-date.html.twig * field--datetime.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-publish-date field--type-datetime field--label-hidden field__item"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'time' --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> <time datetime="2020-01-16T12:00:00Z" class="datetime">Thursday, January 16, 2020</time> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/time.html.twig' --> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-left"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-main-image--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-main-image.html.twig * field--default--field-blog-main-image--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-main-image.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-main-image--blog-post.html.twig * field--node--field-blog-main-image.html.twig * field--node--blog-post.html.twig * field--field-blog-main-image.html.twig * field--image.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-main-image field--type-image field--label-hidden field__item"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'responsive_image_formatter' --> <!-- BEGIN OUTPUT from 'core/modules/responsive_image/templates/responsive-image-formatter.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'responsive_image' --> <!-- BEGIN OUTPUT from 'core/modules/responsive_image/templates/responsive-image.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'image' --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/image.html.twig' --> <img srcset="/sites/default/files/styles/max_325x325/public/2020-01/SHOEforMKP.jpg?itok=5k3oMTfu 325w, /sites/default/files/styles/max_650x650/public/2020-01/SHOEforMKP.jpg?itok=yeA0tJdF 650w, /sites/default/files/styles/max_1300x1300/public/2020-01/SHOEforMKP.jpg?itok=tjyt42V2 1300w, /sites/default/files/styles/max_2600x2600/public/2020-01/SHOEforMKP.jpg?itok=dsHmv1il 1920w" sizes="(min-width: 1290px) 1290px, 100vw" src="/sites/default/files/styles/max_325x325/public/2020-01/SHOEforMKP.jpg?itok=5k3oMTfu" alt="White Adidas sneaker" typeof="foaf:Image" /> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/image.html.twig' --> <!-- END OUTPUT from 'core/modules/responsive_image/templates/responsive-image.html.twig' --> <!-- END OUTPUT from 'core/modules/responsive_image/templates/responsive-image-formatter.html.twig' --> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--body--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--body.html.twig * field--default--body--blog-post.html.twig * field--default--blog-post.html.twig * field--default--body.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--body--blog-post.html.twig * field--node--body.html.twig * field--node--blog-post.html.twig * field--body.html.twig x field--text-with-summary.html.twig * field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>Here at MKP, we know how to serve our financial institution clients because we’ve walked many miles in their shoes.</p> <p>We recently interviewed three members of the MKP team to hear what they had to say about their experiences working on the “client side” before coming to work at MKP, and what their experience means for our clients.</p> <p><strong>How did working at a bank prepare you to work at an agency like MKP?</strong></p> <p><em>Pam Reich:</em> My banking experience was primarily in retail marketing. I handled product management, market development, sales, sales training, systems conversions and bank mergers. I can relate to all of the clients we do business with because I’ve had their jobs. I hope that gives our clients a level of comfort. While the industry has changed over the years, just having that basic knowledge of how things work helps me successfully support our clients.</p> <p><em>Max Chalkin:</em> As Marketing Manager, and later on, Senior Marketing Manager, I managed the digital delivery of marketing and communications efforts. I was responsible for everything from the website, to how the bank’s brand appeared across our third-party applications to public relations.</p> <p>I worked with all the different business lines and departments. I was exposed to people from across the bank and the various systems and technologies with which they worked. I gained the perspective of what marketing managers have to do to get approvals from their bank’s management, legal and compliance teams.</p> <p>The number one thing I took away from my experience was learning the nuts and bolts of banking. I learned all the different types of products and services banks make available to their customers and how they turn a profit.</p> <p>I frequently draw on my experience as a model for understanding what our clients and their stakeholders expect.</p> <p><em>Laura DeLaCruz: </em>I began my career right out of college and started in a branch management training program. During my banking career, I have been a Branch Manager, Operations Manager and Product Marketing Manager at different banks. My work history has given me varied perspectives on how products and campaigns are created, supported in the ‘back office’ and sold to the public. As a Branch Manager, it was very interesting to see how bank customers respond to marketing materials, account change information, and merger communications via the branch channel. And as a Product Marketing Manager, I fine-tuned my project management and multi-tasking skills. Gaining real, in-depth knowledge of the many products offered and an understanding of how front-line staff interacts with customers as well as learning how to get internal consensus from various stakeholders and keeping many balls in the air at the same time prepared me well for working here at MKP.</p> <p><strong>When you worked at a bank, how do you think having a marketing partner who really understood your business might have helped you?</strong></p> <p><em>Pam: </em>While I worked with many agencies and partners when I was the client, I most appreciated the partnerships I established with those who understood my challenges, and were able to make my job easier with solutions that achieved our business goals. I learned a lot about everything from strategy and messaging to data and production from these partners, and that education made me feel more connected to them. Now that I am on the agency side, I can be a better partner to my clients because I’ve been in their shoes and I understand.</p> <p><em>Max:</em> When I was on the client side, I appreciated when an agency thought critically about our brand and surfaced a fresh perspective. They look at the bank’s brand from a distance and help bring it to life in different ways.</p> <p>At the bank, I actually worked with MKP as a partner on several initiatives. The fact that they have such a long tenure in the industry, having worked with many different clients, and with many team members coming from banking backgrounds, gave me confidence. It put me at ease knowing we had found a team of experts that could handle the challenges, whatever they may be.</p> <p><em>Laura:</em> It would have been great to work with an agency like MKP, which has a singular concentration in financial services. We could have relied on their deep understanding of bank products and services to craft messages with customer-friendly language. And we could have rested easy because we both knew what’s at stake: personalized customer account information needs to be correct 100% of the time and legal deadlines can’t be missed.</p> <p><strong>How does your bank experience make you a better partner?</strong></p> <p><em>Pam:</em> Now at MKP, I am keenly aware that my experience helps build trust with our clients. It solidifies our relationships with them because they know we’re on their side.</p> <p><em>Max: </em>At MKP, our past experience working at banks gives us a unique perspective. We see ourselves as being a part of your team; we’re supplementing the resources you have. We get the need for compliance reviews. We know the deadlines you face. We understand the products you sell.</p> <p><em>Laura: </em>Our collaborative nature and the depth of our experience helps us help you.</p> <p><em>MKP communications inc. is a New York City-based communications company that delivers spot-on strategy, smart, fresh creative, and flawless execution, exclusively for financial services clients.</em></p> <p>Photo credit: Charlie Chalkin</p></div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field--text-with-summary.html.twig' --> </div> <div class="group-right"> <!-- THEME DEBUG --> <!-- THEME HOOK: 'field' --> <!-- FILE NAME SUGGESTIONS: * field--default--node--field-blog-category--blog-post.html.twig * field--default--node--blog-post.html.twig * field--default--node--field-blog-category.html.twig * field--default--field-blog-category--blog-post.html.twig * field--default--blog-post.html.twig * field--default--field-blog-category.html.twig * field--default.html.twig * field--theme-ds-field-default.html.twig * field--node--field-blog-category--blog-post.html.twig * field--node--field-blog-category.html.twig * field--node--blog-post.html.twig * field--field-blog-category.html.twig * field--entity-reference.html.twig x field.html.twig --> <!-- BEGIN OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> <div class="field field--name-field-blog-category field--type-entity-reference field--label-above"> <div class="field__label">Blog Category</div> <div class='field__items'> <div class="field__item"><a href="/taxonomy/term/36" hreflang="en">banking industry</a></div> <div class="field__item"><a href="/taxonomy/term/31" hreflang="en">branch banking</a></div> <div class="field__item"><a href="/taxonomy/term/27" hreflang="en">marketing</a></div> <div class="field__item"><a href="/taxonomy/term/35" hreflang="en">regulatory</a></div> <div class="field__item"><a href="/taxonomy/term/22" hreflang="en">brand</a></div> </div> </div> <!-- END OUTPUT from 'themes/bootstrap_barrio/templates/field/field.html.twig' --> </div> <div class="group-footer"> </div> </div> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-2col-stacked.html.twig' --> <!-- END OUTPUT from 'modules/contrib/ds/templates/ds-entity-view.html.twig' --> Tue, 03 Dec 2019 19:50:08 +0000 max 158 at https://mkpteam.com