It has always astounded me how bankers (and salespeople) are so “willing” to share their valuable clients with their competition.
If your bank (or organization) offers a wide range of solutions that can easily satisfy ALL your client’s needs, then why aren’t you their ONLY service provider? Why are your clients also using other financial institutions (or competitors)?
Consider this ….
A business owner uses ONE accounting firm to manage all their business and personal tax returns.
A business owner uses ONE law firm to manage all their business and personal legal matters.
A business owner uses ONE insurance agent to manage all their business and personal insurances.
Yet, we allow that same business owner to use multiple finance companies (banks) to manage all their business and personal financial affairs.
It makes no sense …. especially if YOUR bank can offer all the financial services they need. And even if you don’t offer all services, I am sure you can offer most and build specific strategic partnerships with other firms to fill in the gaps.
So why are bankers (and salespeople) “willing” to share their clients with their competition?