Welcome to the September 2024 TMClarity Newsletter, now renamed Launch Pad. You may have noticed we've changed the format of the newsletter for the better. Thanks for subscribing!
Gaining Traction
Running a treasury management department presents unique challenges. Whether your operations are based in the suburbs or the city, attracting and retaining quality treasury management customers requires a dedicated, full-time effort from your entire team. Here are key indicators that your department is gaining traction:
- Seamless Onboarding: When you onboard a new customer and the process goes so smoothly that you, as the sales leader, receive minimal feedback, it's a sign of success. The only communication you might receive is praise for your team's efficiency and confirmation that all new services are operational.
- Integration with Lending: Another positive sign is when your lending team proactively discusses treasury management services with potential customers before loan agreements are finalized. This reflects their confidence in your team's ability to deliver excellent service, ensuring that loan customers are well cared for.
- Positive Metrics: You'll notice improvements in several key performance indicators:
- Decreased Customer Churn: Retention rates improve as customers find value in your services.
- Enhanced Pipeline: Your sales pipeline shows growth, indicating a healthy interest in your offerings.
- Increased Deposits: There's a noticeable uptick in deposit growth, reflecting trust in your treasury management service capabilities.
- Reduced Service Tickets: A decline in service requests suggests higher customer satisfaction and fewer issues.
The effectiveness of your treasury management department isn't just about numbers; it's about seamless integration, proactive teamwork, and ultimately, the trust and satisfaction of your customers. By focusing on these indicators, you're not just gaining traction, but cultivating lasting relationships that drive your institution's success.
In this month's membership section directly from the TMClarity Framework, we go deep on making onboarding new treasury management customers and new services easy, repeatable, and error free.
Recent Blog Postings
Maximizing Treasury Management Profitability
Maximizing treasury management profitability is essential in today’s competitive environment. One area that often goes unnoticed is the practice of waiving fees or offering special pricing on treasury management (TM) services. These practices can significantly impact your bottom line if not managed properly. Read more on the blog...
Building an Effective Treasury Management Team
In his seminal book "Good to Great," Jim Collins emphasizes the importance of having the right people in the right seats on the bus to achieve organizational greatness. Translating this concept to the realm of of an effective treasury management team within a bank, it's essential to structure your treasury management (TM) team strategically. Read more on the blog...
Thank You Members
Thank you to all our members for your continued support of our newsletter. Your engagement keeps up motivated to deliver the best in community bank treasury management content. If you're a guest, consider a Launch Pad newsletter membership to have exclusive insights and updates sent direcly to you, ensuring you never miss out on the latest in treasury management strategies and trends.
In this month's membership section directly from the TMClarity Framework, we go (2500 words!) deep on making onboarding new treasury management customers and new services easy, repeatable, and error free. If you are Launch Pad member, login using the links in the box below.
