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Tips For Bank Marketers: How To Get A Steady Flow Of New Accounts. - Business - Nairaland

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Tips For Bank Marketers: How To Get A Steady Flow Of New Accounts. by stnonymus(m): 5:03pm On Aug 25, 2011
I've never understood why Nigerian bank marketers still use the same stereotype marketing techniques that yield very little results. What's the use of applying a method that won't give you the results you desire.

Let's face it. Bank services have been reduced to standardized commodities. Banks don't really have much competitive advantage over each other. So you can't motivate the prospective customer to open an account with your bank using interest rates as a bait.

What about the lure of loans. Most people don't have much confidence in bank's willingness to give loans to small scale entrepreneurs. A few others are scared of the interests on the loans. So you might as well ditch this strategy unless you have a magic tongue.

And marketing the rich doesn't really help because most of them already have multiple accounts in different banks and probably have a few dormant ones which they would love to get rid of.

Truth be told, people open accounts for 3 different reasons:

1. Safe keeping of funds ( Standardized service.It's not a unique sales proposition)
2. The clients insist on doing business through a particular bank( you have no control over this choice)
3. Ease of withdrawal ( ATM service guarantees this- standardized service)
4. They know somebody in that bank ( This is the most powerful reason. Guarantees you will always be listened to when you have a problem)

Ask everyone and you'll find out that no.4 determines, to a large extent , their choice of a bank.

So having stated the greatest USP, how can you make this work in your favour? Simple! You join a large organization/social group or club that allows you the opportunity to network and BUILD RAPPORT with potential and prospective clients. If you do this, when anyone of these people need to open an account, you'll be the first person they'll contact. And this is largely because people hate to discuss or give their money to strangers; they prefer to deal with people they already know. Make sense?

So where can one find an organization like this? There's one that has been consistently overlooked by most bank marketers because of the pressures of meeting unreasonable targets. This business organization I am referring to has a fairly large number of people who have just one account and will need  a second or third account. There are even an impressive number of people who are yet to get an account. But guess what, this organizations churns out new millionaires and financially free entrepreneurs yearly. Why not strategically position yourself in this organization so that you can reap an endless stream of new and impressive accounts. This requires some patience though. But you can focus on other prospective clients while you build and maintain rapport with these potential clients who will be ready to open new accounts in two to six months.

What organization am I referring to? You'll be surprised . The seemingly Infamous Network Marketing organization! Believe it or not, there's so much untapped potential that one often wonders why this market is often overlooked by bank marketers. I work in the industry and I see people who came in broke, started a part time business and over time, began to make good money. It was only then that Bank hounds showed up. I leave you to imagine the sort of response they got.

There are lots of Network Marketing organizations out there. You can get registered in any one of them get to know the people and build relationships that will help you get the accounts to meet your targets.

So that's my tip for getting a steady flow of accounts.

If you need a recommendation for a Network Marketing organization, you can call me on 2348060778264.
Re: Tips For Bank Marketers: How To Get A Steady Flow Of New Accounts. by xtayle(m): 2:50pm On Sep 13, 2011
post your recommendation(s) here pls and let all see it for vetting and suggestions.

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