With so many “voices” in the marketplace, who do the top performing bankers listen to? When surveyed, the answers are not the government, the industry talking heads, vendors, stockholders or even employees; overwhelmingly it is their customers! This does not mean listening to your customers after they have been alienated and are angry (e.g. debit card fees).

The problem is that what customers say, “Take free checking away and I will leave the bank” and what they do is two different things. For example, customers never left in the numbers they indicated they would in customer surveys. One thing that has been consistent is they want help in making sound financial decisions for their families. This help can come in a number of different forms: advisors, personal bankers, new account managers, even friends.

The challenge is finding a consistent message that the banking institutions can control and more importantly, provide a feedback loop of information back to senior management. Technology is now beginning to close the loop with “guides” that can be attached to the bank’s website or used as a “super” sales person in the branch. These guides have 10 years worth of collected data from millions of bank customers set in a question and answer format. The knowledge acquired from the guides can drive product direction, pricing and preference. With a “decision tree” with over one billion variable answers, the guesswork of what customers’ want – not what the bank thinks they need – is eliminated. The process is here, the technology is here, THE FUTURE IS HERE! Listen to your customers – you will be more successful!