In a sea of green paper, you have to find a way for your bank to stand out.
Let me tell you about a man we’ll call Matt who found his unfair advantage in an industry with far less room to stand out than banking — Building metal structures.
Matt’s structures weren’t any better than his competitors. In fact, they all bought the raw materials from the same suppliers.
He couldn’t put one up overnight,
He didn’t have a more sturdy foundation,
His structures weren’t known for being more durable,
There really wasn’t anything special about the structures at all.
But Matt found his unfair advantage in his willingness to do more prep work than anyone else.
When his competitors just wanted to pour the concrete and put up the structure,
Matt was willing to spend a few days clearing land with a bulldozer just so he could START pouring concrete.
His willingness to go the extra mile set him apart from his competitors and made him THE choice for “hassle projects.”
Ultimately, Matt understood that he wasn’t just selling a structure, he was selling an easier, hassle-free experience for every project — no matter how difficult.
He was selling peace of mind.
Banks need to be more like Matt and understand what they are really selling.
Is it unparalleled customer support?
Stellar interest rates?
A top-notch app?
If you don’t know what yours is, start by taking a look at what you’re already good at and find ways to emphasize it with your customers.
Give them a reason to never want to leave, and keep coming back for more.
What are some unfair advantages you have seen banks live by?
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Follow Brian on Linkedin: Brian Pillmore
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