Checking account growth – It’s go time!

first_imgIt’s go time!  New account activity peaks spring through fall, so now is the time to put your acquisition strategies in place.  Our client data shows a consistent national trend each year with new account openings.  The new account activity increases in early spring, the momentum created by tax returns and nicer weather. A second peak occurs between June and September, followed by the lowest period of activity in November and December.  Right now, we’re experiencing the first spike in activity, so it’s time to make sure systems are in place and strategies are aligned to get more than your fair share of new accounts.Each new member who enters your branch is a great opportunity.   This visit may be the most time you ever get to spend with them, so make it count.   It’s time to audit the experience of a new member.Roadmap/New Account ProcessHow is the time being spent?   Is there a roadmap to the conversation to ensure a good conversation flow and that all key areas are covered?  WorkflowAre employees leaving the member to scan, copy and print?  Are there any efficiencies you can add to reduce time on processes?New Account PersonnelIt can be tempting to rush through the process.  Remember the member drove to your location to open the account – they are seeking a financial advisor, not somebody who cursorily completes the paperwork. Is the employee confident and knowledgeable?  Do they ask questions to identify and understand the member’s needs so they can offer solutions?   Are they offering to assist with moving direct deposits and automatic payments?  Consider having a member of management open a new account on a regular basis to examine the process and determine if there could be an improvement in the member experience.It is during and after the account opening that you set yourself apart from the competition.   The onboarding process is key in building the relationship with the member.  How can you impress members during this critical time in your new relationship?Open Communication ChannelsEstablish communication channels with the new member.  How do they prefer future communication?  Do they prefer a phone call, email, text, or mail?   Young adults greatly prefer to send a text rather than to pick up the phone. If that option is available, it can facilitate drastically better communication.   More mature members may prefer a phone call.  If this is the case, which number and what time of the day is a good time to reach them?   Let the member know to expect future contact so it is expected.Send thank you notes shortly after account opening.   Have the relationship manager who opened the account write a personal note and mention something specific that was discussed during the new account process so the member feels valued and remembered.OnboardingHaving an onboarding strategy is just as important as having an acquisition strategy.   If the new account isn’t activated, you haven’t become their primary financial institution.   Onboarding starts with moving direct deposits over.  Offer to assist the member with this process and changing any automatic payments over to the new account. Check the member’s new account to see if there is debit card activity during the first 10 to 14 days.  If there is no activity, the new account personnel should verify the member’s new debit card was received and see if they need any additional assistance during a follow-up call.Switch kits just don’t work.  If the member uses automatic payments instead of bill pay, offer to get the actual forms they need for automatic withdrawals instead of a generic one.  It’s a good idea to have the major utility companies’ forms on hand to better assist with the process. Follow UpFollow up with a thank you note, phone call, and letter from management.   This personal connection makes the member feel that their business is valued and appreciated.Make note of future sales opportunities from your new account interview and follow up with the member.  If the member mentioned they had a CD maturing in early July, contact the member in late June with your rates and other investment options.  If the member mentioned they have a child needing a new car in the fall, contact them in late July with auto loan rates.  This kind of attention will set you apart from your competitors.  Members want to know they are important to you.Ask for referrals.  Don’t forget to ask these new members to refer their friends, family, and colleagues.  If you’ve provided exceptional service to your members, they won’t hesitate to make referrals. Focusing on all the little steps makes a big difference in getting the relationship and retaining memberships.  To maximize the opportunities during peak new account opening seasons, act now to ensure you have all the processes in place.  It’s go time!For assistance with digital referral programs, onboarding processes, and activation strategies around new and existing accounts, contact Velocity Solutions. 38SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Cindy J Draper Cindy J. Draper is a Retail DDA Strategist and Director of Training at Velocity Solutions. Cindy has over 20 years of experience in the banking industry. She has worked her … Web: myvelocity.com Detailslast_img read more

British Airways first Airbus 350 touches down at London Heathrow

first_imgBritish Airways first Airbus 350 touches down at London HeathrowBritish Airways first Airbus 350 touches down at London HeathrowBritish Airways’ first Airbus 350, registration G-XWBA, touched down at London Heathrow this weekend, featuring the airline’s newest generation business class seat, Club Suite.The airline will take delivery of 18 A350s, with four of the new aircraft joining the fleet before the end of the year.Carolina Martinoli, British Airways’ Director of Brand and Customer Experience said: “We are delighted to welcome the first of our A350s to the fleet. This aircraft marks a significant and exciting milestone in our £6.5 billion investment programme and is even more special as it comes with our new Club Suite. The A350 is a fantastic aircraft and an excellent showpiece for British engineering. Our customers are going to love the space, light and comfort on board.”The newly-branded ‘Club Suite’ offers direct-aisle access, a suite door for greater privacy and luxurious flat-bed seats in a 1-2-1 configuration. Boasting 40 per cent more storage, including a vanity unit and mirror, WiFi, enviable 18.5-inch inflight entertainment screens, high definition gate-to-gate programming, and PC / USB power; every aspect of British Airways’ Club Suite has been designed for today’s customer.The A350 promotes a feeling of well-being, space and calm due to its reduced noise levels, high ceilings and ambient lighting which is intended to compliment the time of day and outside light. Customers will leave their flight feeling rested thanks to higher levels of humidity and refreshed air as the cabin pressure is equivalent to an altitude of just 6,000 feet. There are also environmental benefits to flying on the state-of the-art A350 as 25 per cent lower fuel burn significantly reduces CO2 emissions.As well as a new 56-seat Club World cabin, the three-cabin A350 features the latest World Traveller Plus cabin (56 seats) with new furnishings including a plush new pillow and warm quilt, new amenity kits and an enhanced service and an improved dining experience. The World Traveller (economy) cabin offers 219 seats. Customers will also benefit from high-speed WiFi, allowing travellers to browse the internet on their personal electronic devices.In a world first, the airline mapped out their new Club Suite and A350 in lasers within the British Airways Laserdrome, a 100 square metre structure, towering 6 and a half metres high.During phase one in August, the first A350 aircraft will start some short-haul flying between London and Madrid to allow the airline’s teams to perfect their customer service delivery and familiarise cabin crew with the aircraft layout.In phase two, which starts during September, the aircraft will begin long-haul flying to Dubai, followed by services to Toronto, Tel Aviv and Bangalore this year. During this period another three A350 aircraft will join the British Airways fleet and two Boeing 777 aircraft will also be retrofitted with the new cabin.At the start of 2020 phase three will begin which will see British Airways rolling out its Club Suite on further long-haul aircraft across the network.The arrival of the A350 is part of the airline’s £6.5bn current investment programme and forms part of an exciting year for the airline as it celebrates its centenary. Other activity includes the airline’s BA 2119 programme exploring the future of fuels, the customer experience of the future and the aviation careers in the next 100 years. Source = British Airwayslast_img read more