How Financial Institution Leaders Can Build Business Loyalty

local_business

"You earn reputation by trying to do hard things well."
~
Jeff Bezos

What you do as the leader of a financial institution in your community is not easy. You understand your community in ways that most others just don’t. You help people start businesses, stay in business, and grow their businesses.

You create jobs in your own institution, and you help companies increase capacity, so they have more purchasing power, and so they can add to their own workforce.
 
You support nonprofits through community development, volunteering, and expertise.
 
You support your customers by helping them manage, earn, and save money, and in return, they re-invest that money into the community.
 
Because of your institution’s efforts, you’re building local wealth, bolstering the economy, and improving your town’s quality of life. All of that is a tall order, and you have earned your reputation by doing those hard things so well.
 
Why do you do it day after day, year after year? We have a hunch that you do it because…

You love your community, and you want to make it a better place (and for that, your community is grateful).

Since helping people is in your nature, here are some other ideas for how to support local business while at the same time helping your customers:

  • Feature the businesses that make your town unique. You could do this in your own communications efforts.

  • Show your customers/members that they have choices (in merchants, music venues, service providers, restaurants, etc.) that they never knew about. You might showcase your own customers; or you might promote other businesses too to show your total community support.

  • Add to the “walkability” of your downtown and/or shopping areas by alerting your customers that other stores or neighborhood features are nearby.

  • Use a turnkey mobile loyalty system to help your customers save money by shopping local.

Your customers see those discounts from you as yet another way that you are saying, “thank you” to them, and Brian Tracy said, "A person who feels appreciated will always do more than what is expected."

For more ways to delight customer and build loyalty, download our white paper, Five Ways to Delight Customers and Drive Non-Interest Income (Bank version or Credit Union version).

Larky is a mobile loyalty platform that amazes and works to keep members happy and loyal.  To learn more, visit Larky.com or email us at hello@larky.com.

Posted on September 09, 2014 by AndrewB - No Comments

Topics: Financial Institutions, Loyalty