2015 Webinar Rebroadcast Series
Topic: Price Smarter in 2016 – Beat the Competition
Original Air Date: October 29th, 2015
Length of Webinar: 60 minutes
Cost: $299.00 - Webinar Recording and Presentation Slides available at same price.
3 EASY WAYS TO REGISTER TODAY:
- Call Victoria Mier directly at (800) 237-3317 ext. 17 to register with a Visa or MasterCard
- Email at [email protected]
- Register via PayPal below
Deflation and Regulation are forcing all Financial Institutions to rethink how they price their services.
The drop in the price of oil is forcing down everything from a can of tuna to a board of lumber – this is deflation or, its lesser form, disinflation. Expanding Regulations are increasing the cost of compliance. Today Main Street Financial Institutions have 4 people handling compliance versus less than 1 seven years ago.
Smart Financial Institutions need to respond to the economic environment, address compliance issues and watch out for the competition. Those competitors are not just a bank or credit union down the street but also Walmart, Apple Pay, Starbucks, Pay Pal, etc.
The only option to stay competitive and profitable is to practice Smart Pricing.
How can my institution be more competitive?
Six steps to Price Smarter and Beat the Competition become this Webinar’s Agenda
I. Learn that Pricing is more than PricePricing is more than Price. The price of a service is the result of a Pricing Process that includes a systematic review of all of the elements of Pricing: Value. Benefit. Costs. Competition. Volume. Relationships. Risks. Compliance. Then take the results of your analysis and match them against the empirical data you’ve distilled from call reports, CFPB complaints, competitive shopping and your in-house CRM.
II. Mapping Price to Overcome Compliance
III. Re-invent Retail CDs to Match the Chief Competitor
IV. Pay High Rates for Checking, Reduce Costs & Increase Revenue
V. Use Price to turn Branches into Selling Machines
VI. Change Fee Prices to Increase Revenue
Mapping Price to Overcome Compliance is a way to confront the challenges of government regulation. The CPFB has thousands of comments received directly from consumer that tell you exactly what the consumer doesn’t like. These dislikes can be harnessed to provide for better price.
Re-Invent Retail CDs to Match the Chief Competitor is a way to get Retail CDs from becoming almost extinct. Government is the chief competitor to banks and credit unions for Retail CDs. We’ll review the significant impact of re-inventing the Retail Certificate of Deposit and how the change can give you a competitive advantage.
Pay High Rates for Checking, Reduce Costs & Increase Revenue is borrowing the play book of the business transaction accounts to grow checking faster than ever before. Yet you will pay for your costs and make checking with is unprofitable for 95.5% of Financial Institutions a net chief revenue source for you.
Use Price to turn Branches into Selling Machines recognizes the huge potential staring you in the face at each of your branches. Some banks and credit unions are already totally retrofitting front line personnel with different prices. This webinar will give you insight in how they do it.
Change Fee Prices to Increase Revenue identifies seldom used sources of fee review to confront and confound your competition, all while you lower price and become more profitable. Most importantly this does not deal with overdraft service at all. It’s a challenge, particularly for deposit services, but we’ve identified those who do it and you can to.
Specifically What are the Takeaways?
Our Webinar will demonstrate how you can use pricing elements and marketplace information to reconfigure your services like Checking, CDs, Fee Services and Loans to better meet the needs of your consumers and your institution. We’ll discuss why account pricing is a better approach than transaction pricing because it avoids cumbersome CFPB regulations.
How is a Moebs Webinar Different?
Our Webinar will give you ways Moebs Services has worked with hundreds of financial institutions over the last 30 years. We’ve gathered information on thousands more. We survey 2,806 Financial Institutions annually. We know the key ingredients of smart pricing and want to share them with you.
Empirical data, systematic approach, Beltway understanding and a real world approach to a process that puts the best price out there for your consumers and your institution. Join us to see how.
You and your Management Team can benefit from this Moebs Services Webinar.
Who Should Come to the Webinar?
Pricing smarter is the foundation of any successful Financial Institution. Join CEOs, CFOs, COOs. Join financial analysts and members of the Board of Directors. Join the Managers who are charged with building a profitable Financial Institution. Get the tools to help your institution Price Smarter.