Do you really “love” your customers? If so, don’t rely on ordinary loyalty programs to deliver maximum lifetime value

Do you really “love” your customers? If so, don’t rely on ordinary loyalty programs to deliver maximum lifetime value

If asked, most in business wouldn’t hesitate to say “yes, we love our customers – at least we appreciate them immensely.” To show their appreciation, many product or service providers may offer any manner of incentives to encourage repeat purchase such as discounts,...
Community banks and credit unions: STOP following the lead of big banks

Community banks and credit unions: STOP following the lead of big banks

They’re NOT your friends and you won’t win any more by trying to be like them No one ever wins based on their capacity for imitation. Big Banks Big banks face enormous fixed costs for human resources, product development, capital systems and equipment, marketing and...
Bartender as Rain-Maker: How having a great bartender can boost restaurant profits and keep customers happy

Bartender as Rain-Maker: How having a great bartender can boost restaurant profits and keep customers happy

Restaurants and bars all over the country just closed out what was likely a profitable Cinco de Mayo weekend of serving margaritas, Corona and other colorful cocktails to revelers who may not have any cultural connection to the holiday, but who just enjoyed the good...
Community Banks Can Gain Advantage over the “Bigs” with Branch-Area Marketing

Community Banks Can Gain Advantage over the “Bigs” with Branch-Area Marketing

One minute we’re hearing that the “branch of the future” is actually not a branch, but something virtual. The next we’re hearing that banks are increasing branch presence, as reported in The Financial Brand. Which is the best route? Naturally, it depends on the size...