Jeff Judy

Jeff's Thoughts - March 19 , 2008

Doing More With More . . .

I've noticed that for many bankers, the more information they have about a customer, the less time they spend reviewing it. This is especially true at renewal season, when new applications get scrutinized in detail while the long term customers almost get rubber-stamped, and popped back into the file drawer for another cycle.
If this is your approach, you could be missing a lot of opportunities . . . and some problems.
Both opportunities and problems are reflected in change of various kinds. If you go beyond comparing this year to last, and look back over several years, you might see changes in:

It is somewhat ironic that bankers often wish they had more information about a new client, but they don't make thorough use of the more extensive information they do have about their long term customers.
I suggest you pull together several years of data from your files on your long term customers. Naturally, you'll start by looking at trends in the bottom line. But go beyond that to extract the following information:

Same old, same old can be very reassuring. But it can also hide problems and lead us to overlook opportunities. When you have more information, why not collect the ROI on your long term customers by taking the time to learn all you can from your shared history?