You (and hopefully your employees) know your products and services. The multiple checking accounts, the various loan offerings, the numerous CDs and investments. But what about your current customers or members? How much do they really know about your products? The answer is “probably not much.”

How many times have you heard someone say, “I didn’t know you guys offered __________?” Insert your favorite product into that blank: mortgages, GAP insurance, business services, free ATMs, leases, investments, etc.

Think about this issue as a math problem. On a scale of one percent (low—they know nothing) to 100 percent (high—they know everything), what is the average percentage your existing customers or members know that you offer? We’re talking about people who already actually do business with you. They already have something with you (a savings account, a checking account, an auto loan, etc.).

Is it 20%, 30%, higher or lower? My guess is it is probably somewhere between 20 to 30 percent. But think about that: that means the average person doing business with you today probably doesn’t know 70% of all the great financial products and services you have.

 

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