5 reasons your branches don’t stack up to your competition
There are two completive branch in town — one shines and the other's a dog. What accounts for the difference? Some factors may be baked-in, but some can still be remedied by rigorous analysis.
I repeatedly encounter situations in my market studies where one competitor significantly underperforms a local competitor of similar size. In conversations with senior leaders at the underperformer, I often find both awareness of the lackluster performance and an understanding of a few key differences between the two institutions.
Yet, the underperformer’s management typically has taken no steps to resolve the issue. What gives?
Some differences in performance are bound to occur. But when two similar-sized competitors compete in a common market, and one significantly outperforms the other, it begs the question “Why?”
Five potential causes lie behind such differences and each is within your control to some degree.
continue reading »
