Five facts every client wishes his banker knew … and why they’ll increase your business
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Transcript of Five facts every client wishes his banker knew … and why they’ll increase your business
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
Five facts every client wishes his banker knew …
and why they’ll increase your business
Bob Penny, Ph.D.President, The Penny Group, Inc.
April 17, 2013
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
Psychology
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
Psychology
• Therapy
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Psychology
• Therapy
• How to improve healthy, normal WORK relationships (corporate psychology)
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
Psychology
• Therapy
• How to improve healthy, normal WORK relationships (corporate psychology)
• Beliefs & assumptions ---> behavior
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
Bankers:“Less risk is better than more risk”“The world is rational and logical”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
Bankers:“Less risk is better than more risk”“The world is rational and logical”
Business owners and CFOs view the world differently than do their bankers
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
Bankers:“Less risk is better than more risk”“The world is rational and logical”
Business owners and CFOs view the world differently than do their bankers
The single most effective step you can take to increase your business …
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
Bankers:“Less risk is better than more risk”“The world is rational and logical”
Business owners and CFOs view the world differently than do their bankers
The single most effective step you can take to increase your business …
IS TO UNDERSTAND EACH CLIENT’S PERCEPTIONS
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
If you correctly understand and respond to a client’s assumptions and perceptions,
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If you correctly understand and respond to a client’s assumptions and perceptions,
You CAN predict which clients will buy from you.
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
If you correctly understand and respond to a client’s assumptions and perceptions,
You CAN predict which clients will buy from you.
You CAN predict which clients will KEEP doing business with you and which will REFER their
colleagues and friends to you.
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
Today
Statements any business owner would nod his head “yes” over
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
Today
Statements any business owner would nod his head “yes” over
Specific examples of how these facts can help you expand business
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5 facts …
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5 facts every client WISHES his banker knew
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5 facts every client wishes his banker knew
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
The most effective high school teachers…
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1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
The most effective high school teachers…
• Engage the student
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
The most effective high school teachers…
• Engage the student
• Make the student feel good about him or herself
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
The most effective high school teachers…
• Engage the student
• Make the student feel good about him or herself
• Offer a better alternative than typical negatives/punishments
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
The most effective high school teachers…
• Engage the student
• Make the student feel good about him or herself
• Offer a better alternative than typical negatives/punishments
• Effectively deter the allure of dropping-out
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
The most effective high school teachers…
• Engage the student
• Make the student feel good about him or herself
• Offer a better alternative than typical negatives/punishments
• Effectively deter the allure of dropping-out
• Understand the teenager’s perspective/point of view
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
The same is true of business owners/CFOs…
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1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
The same is true of business owners/CFOs…
• Personally invested and “vulnerable”
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1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
The same is true of business owners/CFOs…
• Personally invested and “vulnerable”
• Want to feel understood
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
The same is true of business owners/CFOs…
• Personally invested and “vulnerable”
• Want to feel understood
• Need you first to understand, then help.
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
1963
Marshall McLuhan
The Medium is the Message
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
1963
Marshall McLuhan
The Medium is the Message
Why would an individual who could get a bank loan…
Go instead to a high interest rate “loan company?”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
“Like asking my PARENTS for money!”
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1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
I know that you need to “evaluate” me …
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
I know that you need to “evaluate” me …
•
I understand I need to provide you a strong business case
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
I know that you need to “evaluate” me …
•
I understand I need to provide you a strong business case
•
I know you want to see a profit … and I want to even more!
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
I know that you need to “evaluate” me …
•
I understand I need to provide you a strong business case
•
I know you want to see a profit … and I want to even more!
•
To truly understand my business, you need to understand ME
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
I know that you need to “evaluate” me …
•
I understand I need to provide you a strong business case
•
I know you want to see a profit … and I want to even more!
•
To truly understand my business, you need to understand ME
I understand being evaluated
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
I know that you need to “evaluate” me …
•
I understand I need to provide you a strong business case
•
I know you want to see a profit … and I want to even more!
•
To truly understand my business, you need to understand ME
I understand being evaluatedBut I don’t want to feel … JUDGED
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
WHAT YOU NEED TO DO:
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1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
WHAT YOU NEED TO DO:
Take time to understand me, my business and what they mean to me.
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
WHAT YOU NEED TO DO:
Take time to understand me, my business and what they mean to me.
Imagine the person sitting across from you is your son or daughter(regardless of their age).
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
WHAT YOU NEED TO DO:
Take time to understand me, my business and what they mean to me.
Imagine the person sitting across from you is your son or daughter(regardless of their age).
Don’t judge me … use your evaluation skills to help me.
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5 facts every client wishes his banker knew
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
When The Penny Group works with bankers, each chooses 20 key clients / prospects.
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
When The Penny Group works with bankers, each chooses 20 key clients / prospects.
We then provide the banker with an outline of the issues that individual perceives as most important in creating an ideal
banking relationship
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2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
Experienced Commercial Banker (15+ years)
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2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
Experienced Commercial Banker (15+ years)
Feedback from the CEO
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2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
Experienced Commercial Banker (15+ years)
Feedback from the CEO
She’d worked with him for 10-plus years
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2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
Experienced Commercial Banker (15+ years)
Feedback from the CEO
She’d worked with him for 10-plus years
Her largest client (two-thirds of last year’s revenue)
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
Experienced Commercial Banker (15+ years)
Feedback from the CEO
She’d worked with him for 10-plus years
Her largest client (two-thirds of last year’s revenue)
One issue to focus on in the coming year:
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
Experienced Commercial Banker (15+ years)
Feedback from the CEO
She’d worked with him for 10-plus years
Her largest client (two-thirds of last year’s revenue)
One issue to focus on in the coming year: “Being straightforward and honest with me,
even when it’s difficult to do so”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
“You predicted I would hear something unexpected. I did.”
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2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
“You predicted I would hear something unexpected. I did.”
“Tell me more”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
“You predicted I would hear something unexpected. I did.”
“Tell me more”
His definition of “being straightforward and candid”
was from HIS perspective … not hers
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
Actions for YOU
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
Actions for YOU
• PROACTIVE contact is ALWAYS better than being responsive
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
Actions for YOU
• PROACTIVE contact is ALWAYS better than being responsive
• Insights do not have to be dramatic
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
Actions for YOU
• PROACTIVE contact is ALWAYS better than being responsive
• Insights do not have to be dramatic
• I can abide by any decision … just tell me the TRUTH
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5 facts every client wishes his banker knew
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
3. I want to buy more than a product. Give me a great experience.
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
3. I want to buy more than a product. Give me a great experience.
Daniel Pink
To Sell is Human
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3. I want to buy more than a product. Give me a great experience.
Daniel Pink
To Sell is Human
Material purchases vs. Experiential purchases
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3. I want to buy more than a product. Give me a great experience.
Most bankers
perceive the process of borrowing as
a material purchase …
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3. I want to buy more than a product. Give me a great experience.
Most bankers
perceive the process of borrowing as
a material purchase …
the ultimate commodity
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3. I want to buy more than a product. Give me a great experience.
100% experiential
(the ultimate commodity)
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3. I want to buy more than a product. Give me a great experience.
“Why Satisfied Customers Defect”
Harvard Business Review
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Dissatisfied Satisfied Very Satisfied
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Dissatisfied Satisfied Very Satisfied
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Dissatisfied Satisfied Very Satisfied
80%
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Dissatisfied Satisfied Very Satisfied
80%20%
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Dissatisfied Satisfied Very Satisfied
80%
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Dissatisfied Satisfied Very Satisfied
80%“okay … for now”
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Dissatisfied Satisfied Very Satisfied
80%Fewer than 1 in 5 will recommend you
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3. I want to buy more than a product. Give me a great experience.
“Early Years of Marriage Project”
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3. I want to buy more than a product. Give me a great experience.
“Early Years of Marriage Project”
Terry Orbach
University of Michigan psychologist
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3. I want to buy more than a product. Give me a great experience.
“Early Years of Marriage Project”
Terry Orbach
University of Michigan psychologist
What predicts whether a marriage will survive?
(guesses????)
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3. I want to buy more than a product. Give me a great experience.
It IS about the relationship experience …
but it’s NOT the dream vacation /house /new car
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3. I want to buy more than a product. Give me a great experience.
It’s NOT the dream vacation /house /new car
“my spouse often makes me feel cared for and special”
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3. I want to buy more than a product. Give me a great experience.
It’s NOT the dream vacation /house /new car
“my spouse often makes me feel cared for and special”
75% of HAPPY couples say that … just 40% of UNHAPPY couples
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3. I want to buy more than a product. Give me a great experience.
“Doing or saying small things frequently
to make your partner feel special, cared for, and loved
is very predictive of
staying together, being happy, and preventing divorce.
These ‘positive affirmations’ can be
as simple as tucking a nice note in a spouse’s wallet,
or giving a shoulder rub after a long day at work”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
3. I want to buy more than a product. Give me a great experience.
Actions for YOU
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
3. I want to buy more than a product. Give me a great experience.
Actions for YOU
Clients WANT to know you’re thinking about them.
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3. I want to buy more than a product. Give me a great experience.
Actions for YOU
Clients WANT to know you’re thinking about them.
YOU initiating contact is the single best way to create the perception
“YOU CARE ABOUT ME.”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5 facts every client wishes his banker knew
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
3. I want to buy more than a product. Give me a great experience.
4. To create loyalty, you must become memorable.
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
4. To create loyalty, you must become memorable.
Think about a provider you currently use…
Mechanic, home repair guy, insurance rep, dry cleaner, etc.
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4. To create loyalty, you must become memorable.
Think about a provider you currently use…
Mechanic, home repair guy, insurance rep, dry cleaner, etc.
“I’m not just satisfied, I’m delighted!”
“I would recommend them unconditionally to others.”
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4. To create loyalty, you must become memorable.
Doing what you’re expected to do is today simply that:
What you’re expected to do.
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4. To create loyalty, you must become memorable.
Doing what you’re expected to do is today simply that:
What you’re expected to do.
The only way you can ever get to “very satisfied”
is to do something EXTRAODINARY.
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4. To create loyalty, you must become memorable.
So what is … EXTRAORDINARY?
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4. To create loyalty, you must become memorable.
So what is … EXTRAORDINARY?
Ask a client directly and you’re likely to get:
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4. To create loyalty, you must become memorable.
So what is … EXTRAORDINARY?
Ask a client directly and you’re likely to get:
“You’re fine! You’re doing everything I was looking for!”
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4. To create loyalty, you must become memorable.
So what is … EXTRAORDINARY?
Ask a client directly and you’re likely to get:
“You’re fine! You’re doing everything I was looking for!”
Or
“Well, …you could lower my interest rate!”
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4. To create loyalty, you must become memorable.
Asking your spouse what he/she wants for their birthday
vs.
Surprising the person with the same gift
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4. To create loyalty, you must become memorable.
Asking your spouse what he/she wants for their birthday
vs.
Surprising the person with the same gift
Which one is memorable? Why?
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4. To create loyalty, you must become memorable.
The same is true for a banking relationship
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4. To create loyalty, you must become memorable.
The same is true for a banking relationship
“Memorable” ≠ complex or major
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
4. To create loyalty, you must become memorable.
The same is true for a banking relationship
“Memorable” ≠ complex or major
“I thought you’d be interested in this” with a WSJ article
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4. To create loyalty, you must become memorable.
Actions for YOU
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4. To create loyalty, you must become memorable.
Actions for YOU
Ask yourself for each relationship …
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4. To create loyalty, you must become memorable.
Actions for YOU
Ask yourself for each relationship …
What can I do to become MEMORABLE with this client?
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5 facts every client wishes his banker knew
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
3. I want to buy more than a product. Give me a great experience.
4. To create loyalty, you must become memorable.
5. When you don’t know what to say, say “Tell me more.”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
We all operate with beliefs and assumptions
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5. When you don’t know what to say, say “Tell me more.”
We all operate with beliefs and assumptions
and…
We are generally blind to the fact that others do not share them
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
We all operate with beliefs and assumptions
and…
We are generally blind to the fact that others do not share them
If that’s true in long-term relationships like marriage
It’s definitely true in the relationship between banker and client
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
How do you find out
if your beliefs and assumptions
are DIFERENT from your client’s?
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5. When you don’t know what to say, say “Tell me more.”
Phrases like
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5. When you don’t know what to say, say “Tell me more.”
Phrases like
“What makes you think XXX?”
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5. When you don’t know what to say, say “Tell me more.”
Phrases like
“What makes you think XXX?”
“Why do you believe YYY is true?”
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5. When you don’t know what to say, say “Tell me more.”
Phrases like
“What makes you think XXX?”
“Why do you believe YYY is true?”
Serve only to SHUT DOWN communication
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5. When you don’t know what to say, say “Tell me more.”
The ONLY way to understand someone else’s
beliefs and assumptions …
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5. When you don’t know what to say, say “Tell me more.”
The ONLY way to understand someone else’s
beliefs and assumptions …
is not to question them …
but to listen to them
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
The Penny Group
Rather than asking for the beliefs/assumptions, we “uncover” them
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5. When you don’t know what to say, say “Tell me more.”
The Penny Group
Rather than asking for the beliefs/assumptions, we “uncover” them
5-minute questionnaire
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
The Penny Group
Rather than asking for the beliefs/assumptions, we “uncover” them
5-minute questionnaire
Forces a client to make decisions quickly based upon his/her beliefs and assumptions
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
One of the four questions:
“Which THREE of these 21 behaviors are most important to you?”
“Involving others at an appropriate time”
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5. When you don’t know what to say, say “Tell me more.”
“Involving others at an appropriate time”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
“Involving others at an appropriate time”
What does that mean to you – as a banker?
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
“Involving others at an appropriate time”
What does that mean to you – as a banker?
• Involving other internal partners
• Involving other loan officers, credit approvers, specialists, etc.
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
“Involving others at an appropriate time”
What does that mean to clients?
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
“Involving others at an appropriate time”
What does that mean to clients?
• Involving my spouse, or significant others
• Attorneys, accountants, others important in my business
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
HOW DO YOU COMBAT THAT?
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
HOW DO YOU COMBAT THAT?
“Tell me more”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
HOW DO YOU COMBAT THAT?
“Tell me more”
Simple, open-ended, non-evaluative
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5. When you don’t know what to say, say “Tell me more.”
HOW DO YOU COMBAT THAT?
“Tell me more”
Simple, open-ended, non-evaluative
“I’m listening!”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
What did you expect from today’s presentation?
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
What did you expect from today’s presentation?
Clients probably want to know …
“what’s happening with the economy” or …
“the ideal time to borrow.”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
What did you expect from today’s presentation?
Clients probably want to know …
“what’s happening with the economy” or …
“the ideal time to borrow.”
“Sure, I’d welcome knowing that …”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
What did you expect from today’s presentation?
Clients probably want to know …
“what’s happening with the economy” or …
“the ideal time to borrow.”
“Sure, I’d welcome knowing that …”
but NO client suggested those as what they wish their banker knew
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5 facts every client wishes his banker knew
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
3. I want to buy more than a product. Give me a great experience.
4. To create loyalty, you must become memorable.
5. When you don’t know what to say, say “Tell me more.”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5 facts every client wishes his banker knew
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
3. I want to buy more than a product. Give me a great experience.
4. To create loyalty, you must become memorable.
5. When you don’t know what to say, say “Tell me more.”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5 facts every client wishes his banker knew
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
3. I want to buy more than a product. Give me a great experience.
4. To create loyalty, you must become memorable.
5. When you don’t know what to say, say “Tell me more.”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5 facts every client wishes his banker knew
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
3. I want to buy more than a product. Give me a great experience.
4. To create loyalty, you must become memorable.
5. When you don’t know what to say, say “Tell me more.”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
5 facts every client wishes his banker knew
1. My business is the sum of my dreams, my hopes, and my worth as a person. Please don’t treat me like a spreadsheet.
2. Your thoughts about me, your advice and your willingness to tell me the truth are more valuable than any loan.
3. I want to buy more than a product. Give me a great experience.
4. To create loyalty, you must become memorable.
5. When you don’t know what to say, say “Tell me more.”
Copyright © 2012 by The Penny Group®, Inc. Charlotte, NC. All rights reserved.
Five facts every client wishes his banker knew …
and why they’ll increase your business
Bob Penny, Ph.D.President, The Penny Group, Inc.
April 17, 2013