Tag Archives: bank

Are You the Director of First Impressions?

“Director of First Impressions”

I snapped this picture a few weeks ago while i was visiting my local Scotiabank branch here in Toronto.  I’m not sure how widely used this new labelling is – maybe it’s a national or even international initiative – but it’s eye-catching to say the least.  For me I immediately responded to it because as you know I’m a big fan of interpersonal skills, and I run a coaching program and a workshop entitled “The Art of Small Talk & Winning First Impressions.”  The focus of the training, which has been running since 2007, has always been to help those with technical skills or social shyness to improve their business or social interactions, and leave a lasting positive impression.  This is important to build and enhance relationships in our network or social circle.

What I find interesting is that a bank has chosen to change the typical ‘Help Desk‘ label to this new title, since banks provide a large portion of my clientele.  🙂  Yes, I’ve trained many accountants, financial advisors and planners, wealth management managers, auditors, consultants and the list goes on.  Not only are soft skills extremely important for client engagement in the banking industry, but also for team cohesion.

I love this new sign as to me it signifies the bank wants to be more approachable and communicative with it’s customers, and also – that it is aware that the first person we speak to is indeed the Director of First Impressions.  🙂

Are you the Director of First Impressions at your place of business?  Are you good at it?  Or is there a better fit for this role in the office somewhere?  These are some questions I’d like you to ask yourself and your team while examining who speaks to customers first and how do they interact with the typical customer.

Banker-Buddy Follow up

Some people are curious about what prompted my last blog re: communicating with the bank. There were 2 prompts: The first one is that I used to work at a financial institution doing Customer Service and Collections, so I know how important money is to people. I also know that I would favour the nicer, friendlier people first! Oh yes, I said it. Despite what you may hope, we would always help out the cooperative person or give them a break. Relationship is everything. Communication skills are super-important in building relationship.

The other prompt is that I had a great relationship with a banker, and he helped me get a good line of credit, great interest rates, and took a chance on me when I told him of my entrepreneurial aspirations. He helped me a lot. However this week when I went into my bank to set up a new account I found out that he recently moved departments. Guess what? I got bounced around for 2 days and between 4 people before I (maybe) got settled into a new account manager. Now I did my best to establish and build rapport, but I guess I won’t know 100% until the next visit. I am looking forward to it!

Communicating with Your Bank

Sometimes we assume that the bank will help us make the right decision for all our banking and investment needs. After all, is that not their job?

Well yes, but their job is also to make money for the bank. The bank takes our money and invests it to make its own money. Fair enough.

So how do you know whose interest they are serving?

Here’s my advice:

1 – Do your homework. Find out ahead of time (online, brochures, friends etc.) what are the typical fees, types of accounts, investments, mortgages, interest rates etc. Come prepared knowing the fair market value and special deals going on.

2 – Establish a relationship. Do not just see any banker. Find someone you like, or if you have no choice, establish rapport with your assigned account manager. Smile, shake hands, get a card, chit-chat and invest in the relationship. You might be surprised how far a little charisma gets you around fees.

3 – Ask questions. Remember that this is your money. Do not passively let the bank put you into an account that has higher fees for services that you will not be using. Do not get a higher interest rate credit card when there are lower ones available. Be polite at all times, but ask questions. Only pay the fees you have to and find out how to minimize them.

 4 – Talk about the future. You may just be going in there today to set up a simple savings account, but talk about your future mortgage, retirement savings, investments or line of credit. Both you and your manager should understand that you need each other, and can have a productive, profitable future together if you are honest and upfront with each other.

5 – Communicate confidence and success. Dress nice, sit properly, speak clearly and confidently, no matter how much money your bank account has or is lacking. Ultimately you are selling yourself, and we all know that financial situations change frequently over time. Make them trust you and believe in you.

6 – Lastly, don’t wait for a rainy day or a crisis to hit to ask for money. When you have money and a good credit rating, that is the time to get a loan, line of credit or card. Be disciplined with its use, but the fact is it’s much easier to get money when you have it than when you do not.