Community Banks. Open Your Eyes!

This is the best customer acquisition opportunity you’ll see for the next twenty years. Small businesses are struggling for financing and many of them are solid businesses with quality leadership. This is a time to pick up new business that will be loyal to you. This is a time to pick up new business on great terms. This is a time to pick up new business when the economy is depressed and businesses are prime for a rebound. This is a time to advertise on the cheap because every media outlet is struggling and practically giving away space to keep the doors open. This is a time when consumer sentiment toward big banks is extremely low. Basically, all the cards are stacked in your favor. If you extend a hand to small businesses (even if you only targeted the top 20%), you’d be rewarded with a portfolio of growth-primed loyal businesses…and a load of new personal accounts from the grateful owners.

I know, I know, I know…You’re going to tell me that you’ve got a stack of new regulatory concerns, that loans have been underperforming and that now is the time to cut all spending. You’re wrong. It’s a proven fact that companies that intelligently market out of a recession outperform their peers. Add to this the fact that we’re emerging from a recession and businesses will benefit, which means better performing loans, and you’ve got a solid basis for investing in a campaign that targets small businesses. A creative campaign could pick up substantial business at an extremely low acquisition cost.

Side note: Thanks to our bank (BankTennessee) for continuing to invest in us and keeping our credit flowing.

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