As an entrepreneur, I continually find myself working with different financial institutions, but I’ve yet to come across a financial institution (bank or investment firm) that truly does an excellent job of keeping me educated on industry trends, as well as new advantageous offers that they have that may benefit my businesses.

It just makes sense to me that if I have multiple businesses, and I’m constantly moving around money, that I’d be on some type of target list for the banks and investments firms that I work with. As strange as this may sound, I’m definitely not on any target list… and the scarier part is that I don’t even think most financial institutions even have target lists setup.

So this is why I’m writing this short article… if you’re a financial institution, and you want to blow away the other banks and investment firms that offer similar services, all you need to do is start to segment your database, put together specific target lists, and then educate and market to each of the specific target lists that you’ve formed.

It sounds simple, and it really is quite simple… but you actually need to take action, and get a target list plan together for anything to happen. You can crush it as a financial institution in todays market, but you need to separate yourself from the pack by sharing helpful, useful, and timely information with your prospects and clients.

Waiting for someone to walk in your door is flat out crazy… that’s what financial institutions did a long, long, time ago… what you need to do, is go knock on doors, get personal with people, and attract them to do business with you because the information you share is so compelling and helpful to them that they have no other choice.

Let me share a quick story with you… I have an investment account with a firm that I’ve dealt with for about ten years… you know what I get from them on a monthly basis… a piece of paper with my activity, that’s it. Oh, I almost forgot, every once in a while I get a piece of paper stating that something has changed with my terms and conditions.

Are you kidding me… this type of communication by this investment firm is totally insane… it’s like me being hungry, having money in my pocket, and leaving the grocery store with no food… it flat out doesn’t make any sense. Now, I’m just talking about one firm that I deal with here, out of many… and the other financial institutions that I work with have the same boring type of communication as well.

Let me tell you this… as a financial institution, running a fancy Facebook retargeting campaign isn’t going to work anymore because everyone is doing it. If you’re not unique with what you offer, if you’re not educating your prospects and clients, and if you’re not upselling your clients, it’s going to be a long hard road for you moving forward.

I didn’t even get into predictive website design, email marketing, and other topics that will assist you in differentiating your financial institution, but I assure you that I will in the near future. I’m not here to bash financial institutions for the way they’re communicating… I understand that there are strict regulations and so forth, but come on… there’s a more effective way to do things.

The point that I want to get across to you, is that if you own or run a business, especially a financial institution, and you’re not nurturing and educating your prospects and clients, as well as continuing to build new highly qualified prospect databases, you may not be in business five years from now… it’s that simple.

Now, here’s the punch line… if you’ve just finished reading this article, and your head is about to pop off because you feel like you’ve been dropping the ball in terms of communicating with your prospects and clients, my team over at [MyVirtualSalesForce] will personally hold your hand and literally change the way you educate and communicate with your prospects and clients.

One clap, two clap, three clap, forty?

By clapping more or less, you can signal to us which stories really stand out.