Here’s a collection of information-packed, research-based articles we invite you to read and share.

The Business Banking Path to Trusted Advisor
by Nick Miller

Business clients seek advice when they face difficult questions and banks and credit unions aspire to be their “trusted advisors” in those moments on equal footing with their attorneys and accountants. Read more »

Digital Technology Trends in Banking: 2020 – 2025
by Nick Miller

Digital technology is driving three major banking trends. Digital transformation includes a long string of related ripple effects. Branch specialization signifies development of one or more types of expertise or signature specialties to differentiate and to attract customers who generate additional revenue. And, to remain competitive, traditional banks need partner with the technology companies that … Read more »

Top Industries for U.S. Domestic Cash Management Services
by Nick Miller

Manufacturing (equipment, chemicals, food, etc.) Distribution companies (beverages, equipment, components, etc.) Professional services (e.g. engineering, consulting, CPA firms, legal practices) Higher education (traditional and online colleges, trade schools, private secondary schools) Regional retail (multi-location retailers including restaurants) Hospitals and large health care facilities Small- to medium-sized insurance companies Utility companies Public sector entities Medical practices … Read more »

Setting Metrics for Treasury Management Sales Initiatives (Part 1)
by Nick Miller

Define Goals Frequently, we see that sales executives ‘want more fee income’ but they aren’t specific about the ‘more’. We recommend setting specific conditions of satisfaction for the initiative. The conditions can include: Sales activity and focus Number of calls to discuss Treasury Management issues Number of opportunities identified and noted in CRM software Number … Read more »

Setting Metrics for Treasury Management Sales Initiatives (Step 2)
by Nick Miller

Measure and Report Progress Determine how to measure and report progress toward your Treasury Management sales goals and achievement. Most banks can track and report deposits generated by business development managers, whether they book to a branch or directly to the relationship manager’s unit. Very few are able to track and report the sales activity, … Read more »

Negotiate Facts First
by Nick Miller

Frame negotiations and avoid power games by negotiating the facts first. An oil field pump manufacturer wanted a five-year term loan of several million dollars to double the size of its manufacturing facility and to provide working capital to expand sales to retain market share.  The company’s performance had been uneven – low profit margins, … Read more »

Mind Reading
by Nick Miller

How can we more accurately ‘read the minds’ of the people with whom we negotiate, to achieve better outcomes? Nicholas Epley, professor of psychology at the Booth School of Business, University of Chicago, has published a book, Mindwise – How We Understand What Others Think, Believe, Feel, and Want. Important stuff if we’re negotiating. When … Read more »

The Most Toys Wins
by Nick Miller

“She (or he) who dies with the most toys, wins!” Have you heard that said, somewhere?  Whether said in fun or seriously, the sentence conveys a delighted “It’s all about satisfying me!” Applying the idea to  negotiations, we might say, “S/he who develops the most options, wins” … … and it’s all about “satisfying US” … Read more »

Sales Negotiation: Open With Our Best Shot
by Nick Miller

Shifting a little, uncomfortably, on the conference room chair, the Relationship Manager swallowed. “And, $7,500,” the RM continued, “is the loan fee.” Looking up from the bank’s commitment letter on the table before him, the borrower’s CEO paused, then said, lightly, “…OK.” As in, “OK, that’s fine,” or “OK, no worries, mate,” or “OK, I’ll … Read more »

Trends in Bank Small Business Website Content
by Karen Tunks

How can banks make their small business websites more competitive? We recently asked Glen Senior, president of The Small Business Company—who has worked with Bank of America, Comerica Bank, The PrivateBank, and Pinnacle Financial Partners on small business website strategy and content development—about what he is seeing that’s working well (and not so well) on … Read more »

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