Price Setting is a critical function for banks. But it won’t matter at all if you don’t master Price Getting, as well.
That’s the central message of the latest installment of our book – Earn It: Building Your Bank’s Brand One Relationship at a Time.
The book debuted last month, when we published the introduction and first chapter. We started by stating our reasons for writing a book. Then we explained why pricing is so important and why it’s the best indicator of how well banks are building strong lasting relationships with their customers.
That led us to this month’s content, which we divided into two chapters.
In Chapter 2, we talk about the aspect of pricing that bankers know well – Price Setting. We delve into some of the common roadblocks banks encounter when determining pricing and explain why they should never let perfect be the enemy of good.
But, as we write in Chapter 3, none of that matters for a bank if it doesn’t have the strategy, people, and tools to go out there and book that price once it’s been set. That’s Price Getting, the focus of this chapter. We’ll discuss the many components that go into Price Getting, including: aligning your pricing with your market, identifying the good deals, and how your pricing is communicated to the customer.
Listen to the podcast where Dallas and Jim talk about it.
"Earn It" is now available to purchase! Buy it here: https://theearnitbook.com/
About the Author
Jim Young, Director of Communications at PrecisionLender, is an award-winning writer with experience in a range of positions in media and marketing, from reporter to website editor to content marketer. Throughout his career has focused on the story – how to find it, how to understand it, and how best to share it with others. At PrecisionLender he manages the many ways in which the company shares its philosophy on banking and the power of relationships Jim graduated Phi Beta Kappa from Duke University and holds a masters degree in journalism from Columbia University.More Content by Jim Young