National Clothesline

Why are you in business? What’s the purpose? Think carefully because we’ll be returning to this question later in the article.

Several months ago, I faced the decision of whether to open a new business account with my present bank, which happens to be one of the largest banks in the country, or to go instead with a smaller bank, which recently opened close to home and was actively soliciting my business.

Armed with an attractive mailing piece listing the benefits and advantages of using their service, I signed with the small bank. Even though setting up the account with a senior

relationship banker took a little more than an hour, I never felt rushed.

In fact, the banker took a genuine interest in my business and even wanted to learn about my family as well. Before I left, she took me on a brief tour, introducing me to key people throughout the bank. It was a small, friendly environment.

A week later, I pulled up to the drive-thru but before I could press the “send” button I was cheerfully greeted by name, which completely dumbfounded me. After all, how did this teller know my name? I had never used the drive-thru before. In fact, this was my very first transaction.

And then it struck me. We must have been introduced a week before on my little tour with the banker. The fact that she knew my name compelled me to ask hers. That day, my personal friendship with “Carrie” began.

On my next trip, I was again welcomed by name, this time by a different teller, “Linda.” Once again I felt the need to learn her name, too. Forgetting a person’s name after having been introduced is embarrassing so in order to help me remember my new drive-up acquaintances, I wrote the name and a brief description of each teller on the back of a business card which was attached to my sun visor.

It’s been six months since I opened my account and I’m now on a first-name basis with all of the tellers. Each one knows my wife’s name, my dog’s name (because he goes to the bank with me every day) and they know quite a bit about my everyday life. They know, for example, that my son plays basketball at the college and will often ask the score of his last game and inquire as to how the season is going.

Details of the employee training program at this little bank remain a mystery to me, but when it comes to personalization and making you feel appreciated, they’re tops. In short, however, a special effort is always made by each employee to see that every customer feels special… starting with something simple. A name.

My banking experience reminds me of an article I read in the Chicago Tribune nearly ten years ago. It had to do with the service given by a Korean lady in a small drop store located on Chicago’s north side. At the time, Mrs. Kwon had owned the shop for only five months, but in that short period of time she had already managed to learn the names of at least 350 of her 500 or so customers.

Like my bank, her store was a small, friendly place where a customer who showed up short on cash was likely to be told by Mrs. Kwon, “It’s OK. You pay next time.” It was the sort of place where buttons that had been missing for months were fixed for free even though customers neglected to mention the fact.

At first, when she was asked the secret to her success, Mrs. Kwon simply said, “Always a smile.”

Yet, after further questioning she shared an additional secret by displaying a spiral notebook. She flipped through it revealing page after page of customers’ names, and next to each name was a line or two in Korean characters describing them.

“I study,” said Mrs. Kwon.

By studying the names and descriptions, she hoped that by the second time a customer would enter her store she would be able to write the name on the cleaning receipt before the customer would have to give it to her.

“People love that,” Mrs. Kwon said.

Within a few months, the racks behind the counter, which once only held a few dozen hangers, were crowded to capacity, proving the fact that learning as much as you can about your customer has its payoff.

So, once again here’s the question. Why are you in business?

Many people say that the purpose for being in business is to make money. But that’s not completely correct. In fact, the real reason you’re in business is to start relationships. If you can start a relationship and then grow it, the money will follow naturally.

When I opened my business account at the small bank, I still maintained my personal account at the big bank… the one I’ve been with for nearly 20 years.

Why switch? After all, they’ve never really done anything wrong. But then again, they’re so big that even after 20 years very few people know my name. When compared to the small bank, the big bank offered me no relationship and that began to bother me.

Just last week, I moved my personal account to the small bank… and, of course, I received a very warm and genuine “Thank you, Mr. Bishop.”

Bill Bishop, an industry consultant with the Golomb Group for 14 years, is now president of Mak Marketing, Inc. He can be reached at 630-456-4195 or by e-mail at bish8@comcast.net.