Economic uncertainty combined with slow economic recovery are likely to impact revenue performance. What are the anchors that banking leaders should be managing to minimize the effects of today’s challenges through 2023? The foundational answer is already at the bank…current customers and core earnings. Today is always a good time to develop your customer relationship retention and growth strategies. As you integrate development initiatives into your business planning, remember a few basic principles for relationship growth and success:
• Don’t wait for problems to surface.
• Reconnect with tenured customers that provide funding and quality borrowers.
• Proactively offer assistance, frequently.
• Proactively offer personalized, custom solutions.
• Enhance value through service and expertise.
• Identify your ‘at risk’ relationships.
• Get back to business development.