MARCH - APRIL 20268MY OPINIONINEach business leader is spending a lot of time exploring opportunities to best grow their business during these unique times. For example, for those with a retail presence, dynamics such as working from home have impacted historical customer and prospect traffic patterns. The strategic discussions on how best to pivot in these moments often start with some variation of the old adage that growth comes from retaining your current customers, acquiring new customers, and doing more business with current customers. The last part of this adage is still a difficult formula to perfect.Most success bankers achieve comes from cross selling existing customers more products and services within the same vertical. Over time, the consumer bank customer who begins with a checking account also opens a savings account, eventually applies for a credit card, and so on.Seemingly endless opportunities remain for bankers to cross sell across each other's verticals (internal partnership referrals). The customer is a client of the whole bank, not just a client of the banker of a specific line of business. I imagine many of you have spent your entire career working to increase the penetration of such measures as commercial banking clients who also have a consumer banking relationship, or consumer banking clients who also have a Wealth Management relationship. Now more than ever, we must more effectively address why we haven't lived up to our full potential for internal IMPROVING TECH ROI THROUGH STRONGER INTERNAL PARTNERSHIPSBy Mark Sanchioni, Chief Banking Officer, Ridgewood Savings BankMark Sanchioni
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