Every small business has unique needs, and determining what they need from their financial institutions can be difficult. However, identifying your small business customers and providing them with the right solutions – at the right time – can help you attract and keep business accounts as they grow from a startup garage office to a high-rise boardroom.
Small businesses are an important segment for financial institutions of all sizes, representing a significant opportunity for diversified earnings that grow as the small business grows. Commercial customers look to their financial institutions to deliver the expertise, experience and specialized solutions businesses need to succeed.
What can your financial institution do to capture a greater share of this important market?
Identify Small Business Customers
An important determination for financial institutions is whether to serve small businesses through retail or treasury lines of business. Either option can be successful with the right set of offerings, but one thing is certain: You can’t build customer relationships if you haven’t identified them.continue reading »