Now is the time to stay on message.

• Author: Motley, L. Biff
• Position: Customer Satisfaction

Events that have taken place in the capital markets during 2008 will undoubtedly have broad and enduring effects on how we do business in the future. While we are not yet fully aware of fallout, there are some fundamental shifts that are now apparent. It is worthwhile to consider these as we prepare our future marketing plans.

First and perhaps most important is the shift in pricing emphasis toward deposit-generating customers rather than borrowers. For a number of years now bankers have under priced the risks associated with many types of lending and pushed the pricing burden onto depositors. Loan volumes grew and deposit volumes languished. Now that we can see the effects of this on credit costs and funding challenges, we will likely see generally higher loan pricing and more rewarding deposit pricing relative to the economic benchmarks.

For those of us in marketing, this means we will be courting depositors with more zeal and paying more attention to their concerns. Here are some strategies to consider as your begin to focus more marketing energy on your depositors.

In the near term, one of the main concerns of depositors is the safety of their money and their desire to do business with institutions they trust, The underpinning of our financial markets is trust. Without this, the markets don't work, as we have painfully learned. You need to continually reinforce the trust your clients have placed in you. You do this primarily by being in front of them with a reassuring attitude. This "chain of confidence" begins with executive management and should be replicated throughout your entire organization. You need to explain to employees in simple terms why your bank is safe, so they can exude confidence to their clients. And remember, it's not just the words you say, but your attitude as you say them. Come up with your bank's...