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How to Be a Hero to Your Bank’s Commercial Clients

Presented by

Today's corporate bank clients are largely dissatisfied with the services their financial institutions are providing.

✤ Only one in five corporate financial professionals responding to a CFO/SAP survey indicated a high level of satisfaction with their bank.

CFO/ SAP Survey

✤ Such dissatisfaction remains prevalent despite the fact that bank marketers are vigilantly nurturing their business client relationships and adding value to attract new customers.

Where is the disconnect?Why do corporate treasures feel that their banks are failing to meet their needs?

Guidance✤ Survey respondents indicate their banks

are not effectively supporting them in their efforts to fulfill expanded roles across increasingly large and complex net works of businesses, locations and accounts.

Guidance✤ With a recovering economy, they cite

cash management as a primary challenge where they need more guidance.

Communication✤ Financial managers describe the quality

of current business communications from their banks as both inadequate and too infrequent.

Trust✤ Many corporate treasurers lack trust in

their financial institutions due to what they see as their bank’s:

✤ Lack of understanding of their business in general.

✤ Inability to provide the kind of support their companies need to stay competitive within their specific industries.

Corporate Treasurer

What is the cost of this disconnect?✤ Corporate clients say they're more

inclined than ever to seek out an alternate financial partner if these growing expectations and ongoing needs are not being met by their current financial institutions.

Financial Impact?✤ The loss of a single corporate client having annual

revenues of $1 billion + can cost a bank more than $500,000 in net profit that could have been earned during a lifetime (eight-year) relationship.

Treasury Strategies Inc. benchmarking study

What’s the good news?✤ Retaining 16 of these relationships = net

profit in excess of $8 million (over the lifetime of those relationships).

✤ By reducing defections by your corporate clients by 5%, you can improve your bank's net profits by as much as 80%.

The Loyalty Effect, the Hidden Force Behind Growth, Profits and Lasting Value

Fredrick Reichheld

What can you do to retain these valuable clients?

Fortunately they've provided the answer to that question themselves:

Corporates assert that in today's demanding business environment, they need more strategic insights.

CFO/SAP Survey

They want…✤ Risk management expertise.

✤ Deeper analysis and objective advice on the business solutions best suited to their corporation's long-term goals and high-priority challenges, particularly in corporate cash management.

They ask…✤ To be kept apprised of regulatory

issues that affect their industry.

✤ To be made aware of new technologies that might deliver greater efficiency within their organization.

CFOs also reported that they wanted:✤ Concise, transparent and fact-based

business intelligence.

✤ Benchmarks as to how their company's financials compare to peers.

✤ Comparisons reported in terms of key performance indicators (KPIs) and capability/maturity comparisons.

✤ A cost/benefit analysis for every proposed strategy or service.

✤ To know the total cost of ownership and a risk evaluation when considering a vendor's solution.

CFO/SAP Survey

Financial pros are reported to prefer receiving these crucial business communications in the form of:

-Newsletters.-White papers and,-Industry-related case studies.

In Summary

You are the primary communications gatekeeper between your institution and

its clients.

You have a unique opportunity to deliver on each of these expressed needs and keep your clients from

straying to the competition.

About the publisher

For more information, contact:FPS President Vince DiPaolo at 847-858-9566 or vince@fpsc.com.

Financial Publishing Services is the industry leader in quality content development on behalf of corporate bank marketers.

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