Achieve Success with Onboarding
by Lana J. Chandler
Onboarding should begin the day the account is opened,” states Cindy J. Draper, DDA retail strategist for Velocity Solutions (Wilmington, NC). “The banker who opens the account should follow up with a welcome and ‘thank you for your business’ note. You don’t want the client to forget the connection made and the trust that is beginning to form.”
Introduce the new account holder to the tellers if lobby traffic and time allow. “What a great personal touch! It really makes new clients feel valued,” emphasizes Draper. “If you do this, have the tellers sign the thank you note as well.”
Most cross-sells are made within the first 90 days of the relationship. Use that time wisely and build trust. Remember, trust is essential in any relationship that thrives and endures. That’s why you need to stay focused on offering help and not sales spiels. Trust is rooted in helping the client and truly looking out for their best interests.
Example: Offer to help transfer automatic transactions and to move other accounts so the client’s finances are more convenient. Focus on the convenience factor, as clients need to know, “What’s in it for me?”
The Employee Factor
“The most effective onboarding includes the personal touch of the team who directly worked with the new client,” Draper says. “No one will bother to read long, impersonal form letters. Be different!”
“Community banking is about relationships—always has been, always will be. Even in this electronic world, I believe consumers want to feel valued and have a trusted resource for their finances,” Draper continues. “People don’t talk about great service, they expect it. To stand out, you need to be awesome. This includes taking time to find the best solutions, helping with automatic payments, truly taking an interest in the client and following up after the account is opened.”
It takes a lot of resources to get that new client at your desk. Make the most of the opportunity! Build a relationship, don’t just open an account. And relationships start with onboarding. To sharpen your team’s onboarding skills, Draper offers these tips:
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