Differentiate Your Bank & Build Client Relationships Through Education-Based Marketing with Profit Mastery
Profit Mastery will make me a much better banker, and a true resource for my clients. I will be a life-long advocate of your teaching, and intend to encourage all my colleagues and clients to take the course!
- Ralph Cumbee, Regional President, First Community Bank of America
Do you want to make more profit? Improve your cash flow?
It all starts with smart money management.
For nearly 30 years, Profit Mastery has worked with individual banks to provide powerful, practical financial training to their business customers and prospects. Our dual focus on credit quality and business development creates a powerful, consistent framework for staff, customers, and prospects. Most people think of finance as necessary, but dull and boring.
Profit Mastery teaches people to understand how a company generates profit and cash flow ― by teaching them how to identify and manage the key drivers of profitability and cash flow. And our plain-English, humorous approach really hits home, because participants immediately understand and apply the concepts learned to their own businesses.
In the increasingly competitive banking marketplace, banks are continuously striving to gain a competitive advantage. In many ways, bank products are all very similar - approaching commodity status. Value-added programs, products, and services are seen as points of differentiation.
WHY USE EDUCATION AS THE POINT OF DIFFERENTIATION?
Because education - specifically, financial education - is the primary need of the business community. This has been identified in numerous studies, in a variety of markets worldwide.
HOW WILL THAT TRANSLATE INTO MORE BUSINESS FOR MY BANK?
It will help your core customers grow, increase your retention rate, and improve your conversion rate.
WHAT IS PROFIT MASTERY?
Profit Mastery is a financial performance system that will provide the differentiating point in the market that can catalyze your company’s success. Over the years, we have worked extensively with hundreds of companies, universities, trade associations, banks, pharmacies and franchise networks — large and small — to bring the Profit Mastery resources to thousands of their staff, customers, and prospects. Although originally perceived to be a training program, the real outcomes were actually centered around business performance, business development, and retention.
Profit Mastery has an international reputation for providing unparalleled financial management and business planning education and resources to owners, managers, advisors, and bankers of independent business. We have developed a unique way of providing education thousands of business owners have described as “the best program they have ever attended” and “they will never look at their businesses they same way again!” We accomplish this by utilizing a unique combination of information, motivation…and humor! Contact us today.
As a small business lender, this course would benefit almost all of my customers. Not only will the course help people understand what a banker is looking at, but it will also help them dig into their financial statements to determine where and how to best improve their efficiencies and increase their profitability. I wholeheartedly recommend this course to any business owner or individual looking to learn more about the financial aspect of their business.
- Kelly McCormack, Small Business Loan Officer
CUSTOMER RETENTION AND INCREASED PERFORMANCE
Profit Mastery puts the client and the banker on the "same sheet of music," and the consistent result is dramatically-improved communication and results - for both the business customer and the bank. For the bank, this leads to improved performance and client retention, along with increased referrals.
WHAT'S THE BEST WAY FOR US TO EVALUATE THE APPLICABILITY OF PROFIT MASTERY?
Very simple. We advocate a pilot program consisting of both onsite and online programs. Ideally, we would conduct three online programs ― approximately 2-3 weeks apart. Also, we would conduct three 2-day onsite programs for customers preceded about 10 weeks by three 2-day staff sessions in the same markets.
WHAT'S THE COMPELLING REASON FOR US TO INVEST IN PROFIT MASTERY?
When you help people improve their company, they will want to do business – or more business – with you. Profit Mastery puts your staff in synch with your customers, and your customers in synch with their business network affiliation. This unique value proposition helps existing customers grow, reduces attrition, and facilitates new business development. That's how you grow an SME portfolio.
WHAT ARE THE KEY SUCCESS FACTORS?
Put senior management support behind the initiative ― by doing it right. Commit all lenders to go through the "lender version" of the program ― and require each of them to send five (5) people per year. Put in place a process to actually follow-up on the opportunities created in the evaluations.
HOW SHOULD WE MEASURE SUCCESS?
Go beyond a "P&L" analysis of direct costs. If you can, look at changes in the following: 1) customer retention 2) market share 3) wallet share. We presume you know what 1% of market share is worth ― and would hope to see a 2½% shift over five years.
So many seminars outline what you need to do – Profit Mastery showed us how to do it.
- Vicki Kraai, President, Sutton State Bank