Building Relationships is More Than Face-to-Face

Community banks urged to join the social media revolution 
Community banks and their customers value trust, security, and relationships. With the changing times it is imperative that banks integrate social media with their customer engagement.  Local banks hold a commitment to their community and need to be wherever their clients are. And now, their clients are on social media. 

Social media simply provides alternate channels of communication that, for some people, are simply more convenient. It offers a method of correspondence with customers in a way that they prefer. If a customer wants to communicate with your bank, Facebook or Twitter may be the easiest option for them. Almost any question should be able to be answered without disclosing any personal information. For example, customers could request the nearest ATM location or support with a lost or stolen credit card. It is important to note that social media outreach should not be a fruitless extra step to redirect customers to call or visit the bank, but a single point of contact to resolve an issue. 

“Word of mouth,” is quickly evolving to “word of web,” and referrals are one of the most cost effective and influential methods of gaining new customers. Social media creates an outlet for community members to share positive experiences about your bank with others. Banks also use these platforms to poll their customers and receive client feedback. Even simple updates about the day or a short blurb of advice keeps the customers engaged. Contests are another way to get people connected. It could be something as simple as a weekly contest where a Twitter follower can win free product or a Facebook fan that shares a link or likes a page. Incentives motivate people and entice them to pass the word on to a friend. We've recently spoken to a banker from West Virgina who says he is generating 6 to 10 new customers per week just through social media efforts. He says with some simple experimentation he has found a formula to get new clients.

This new way of social networking is taking an updated neighborly approach to customer service; it’s simply an alternate channel of two-way communication. Although social media users are thought to be mostly from the younger generation, there are people of all ages and from places taking to the web. According to Blogworld New York, 55% of Americans 45-54 have a profile on a social networking site. In order to foster trustworthy relationships with clients, banks need to meet them on social media and go the extra mile to provide great customer service.



Written by Codi Mast
Optimum Companies

Savings and Efficiencies for the Community Bank

Banks are facing more challenges when it comes to reducing costs and improving efficiencies. When presented with these challenges, along with pressure to increase revenue; tough decisions must be made. A one size fits all plan does not work. Not all banks or branches run the same way; an effective cost reduction project might work for one location, but not in another.  

Many CEO’s look internally for solutions; this may result in branch closures and personnel layoffs for a quick fix. However, closing branches could be disastrous for a community bank. Looking internally is the correct path, but streamlining processes and cutting costs when possible can come from other areas than just layoffs and closures. An article from the American Banking Association Banking Journal highlights areas banks should consider for reducing costs. 

A main area is branch evaluation. When a bank is evaluating their branches, they should look at the branch’s contribution and growth potential. Shifting or reducing hours should be considered before closures and layoffs. Other ideas are to set sales goals for your people to work towards, and train the staff to evolve with the bank. A key point is to invest in marketing for the underperforming branches and see how the staff can turn the branch around. Human resources costs should be assessed. What are the incentive and compensation packages? Are they aligned, or are they counterproductive, encouraging employees to sell products to customers who will not use them? 

Finally, a bank should examine their vendor expenses. How many vendors are they currently using? How many invoices are they paying per month?  How many employees per branch are placing orders? Are employees running out during working hours to buy supplies? These issues need to be addressed. There shouldn’t be more than one person per branch ordering supplies and employees should not be running around town to restock.

Here at Optimum, we consider ourselves a one source resource for banking needs. Our ordering site supports this concept. We stock everything for you from printed items to supplies, manage your inventory, deliver to your location, and send you one invoice for everything; how easy is that? 

Managing savings and efficiencies is not an easy task. Consider these tips before making drastic changes and remember the little things add up. 

By: Brittany Taylor, Marketing Team Leader Optimum System Products.

Account Manager Position

Are you energetic and like to have fun while interacting with your customers?  At Optimum, we are looking for a full-time account manager who wants to take exceptional care of our extraordinary customers in the community bank market.  Optimum System Products was founded on values, teamwork and we welcome diversity!  Connect with me on linkedIn or send resume to sales@optimum-print.com.  Tell me about your leadership skills and experiences.   www.linkedin.com/in/dorothymartin