Sheshunoff Consulting + Solutions (SCS) and Haberfeld Associates partnered in 2003 to bring financial institutions the High Performance Customer Acquisition. By focusing on checking account marketing for more than 20 years, the staff at Haberfeld have helped over 300 financial institutions in all 50 states and the District of Columbia become a dominant bank in their market. Through our partnership, SCS and Haberfeld can provide community banks with a powerful solution for increasing market share and improving performance.
About High Performance Customer Acquisition
You have learned the perceived reality of account acquisition…you can’t make customers move their checking accounts. It’s too hard! No matter how easy you make it to open a new account, no matter how much of your marketing budget is spent trying to convince customers that you are better than the competition, they will still believe that it is just too difficult to switch banks. So how do you get those new customers into your bank when they are so against change?
It’s really very simple: you have to get more than your fair share of those customers that have already decided to switch. This is subtle and very different approach to account acquisition. This is absolutely about you getting more of the market and your competitors getting less.
How it works
Getting more of the market means your bank needs to follow a basic marketing principle, find out when customers are most likely to change banks so you know when you should target them. Years of marketing research have shown that the majority of people change banks when they get paid, which for many is either Friday or the 1st/15th of the month. In a given year, Fridays line up with the 1st or the 15th an average of 8 times – these are the days when more checking accounts are opened than at any other time. This is when you want to capture those customers. But it’s not just about marketing. It’s about doing everything right all the time: having good products, making the right offer, closing the business once you get it in the door. Our clients have found that new account openings typically double or triple, and they see a positive bottom line impact in 90-120 days.
Why us?
Quite simply, we get the results. In fact, our formula is so successful, we work exclusively with one bank in a market. Because this product works by taking market share, we can’t effectively work with multiple clients in a market.
SCS and Haberfeld working together can help your bank capture additional customers from your competitors. It’s time for you to have more than your fair share.