Who are your best customers?

So, who are they? Your best customers are the customers you already have!! No rocket science in that one! And yes, I know that (to paraphrase George Orwell's "Animal Farm") all customers are created equal, some more equal than others.

Confused? Let me clarify. Your VERY best customers are the most profitable ones. Be nice to them...OK, be nice to ALL of your customers, but be extra nice to the profitable ones. Go the extra mile for all of your customers, but go 10 miles for the most profitable!

Tracking customer profitability can be a full time job without the assistance of technology such as an MCIF. However, I would also argue that your best customers are the ones you already have. The banking marketplace is crowded and noisy. The average American consumer makes financial decisions with more than 10 financial institutions. You aren't competing only with the bank down the street anymore. You are competing with State Farm Bank, Ameriprise Financial, and a whole host of other non-traditional banking companies. Here's a newsflash for you: Your customers are hearing their messages...But are they listening?

I know you all know the difference between hearing and listening. We usually only truly listen when we are given a compelling reason to do so...otherwise it is just background noise.

I could go on and on about how to fix this problem, but to give you the best list, it will take days...so, I am going to let it! From now through Friday I am going to post a blog that will help you better understand how to overcome the noise in the marketplace, gain a greater share of wallet and put a cap on your attrition!

So, here's what you should do today: Determine which customers are at risk of listening to the competition's message. Remember, customers only listen to the messages when they are given a compelling reason to do so...are you the compelling reason?

Consider this an aerobic workout for your brain this fine Monday morning. And remember, it may hurt during the workout, but nobody has ever left the gym thinking, "I wish I hadn't done that."

Remember to breathe!

Jenna