Articles in Strategy
Here at Raddon, we like to build segmentation schemes. Splitting large populations into smaller groups helps to improve marketing by allowing institutions to speak to audiences in a more targeted way.
The Federal Reserve’s decision to begin a more consistent upward movement in interest rates is likely to have a significant impact on the deposit portfolios of financial institutions. Back in March, we posted a piece about the accumulation of liquid deposit dollars at financial institutions nationwide.
What a difference a couple of months can make. In the aftermath of the election, we have seen the stock market accelerate, consumer confidence soar, and small businesses assume a much greater level of optimism. We have seen the Fed announce a significant change in its interest rate policy.
Despite the growing popularity of online and mobile channels for marketing and sales, the branch remains a preferred sales channel for opening new accounts.
Earnings pressure from shrinking net interest margins is compelling financial institutions to explore and cultivate other avenues of noninterest income generation to supplement and sustain their overall earnings. Marketing various wealth management services to customers and noncustomers is one way to earn revenue.
The Presidential election is finally behind us and we have seen, to this point, that the stock market has responded in a positive fashion, perhaps reflecting a belief that the business environment may be more favorable going forward. However, we must be cognizant of the underlying consumer mindset as we move into 2017.
When news of one bank’s aggressive sales quotas broke, many said it was an example of a best practice – coaching to the results – gone bad. In truth, any best practice can become a bad practice when done incorrectly.
This past June and September, Raddon held its quarterly workshops for participants in its CEO Strategies Group program. Key themes discussed at the workshops related to the critical importance of growth and the need for the business model to evolve as financial institutions face increasing operating complexity and ongoing earnings pressures.
Understanding and measuring employee engagement can help your organization function at a higher level. In addition to facilitating camaraderie and teamwork, the benefits to the bottom line can be significant.
Every generation wonders why younger generations don’t see the world as they do. Many financial institutions may wonder the same thing as they contemplate how to serve the millennial generation.