Do People Really Know What Your Company Does?

What DoesMy Company Really Do?As a business owner/manager, when someone asks you what your company does you may be like the majority of people that have developed the famous “30 second elevator pitch” that describes a service(s) that you offer. And that’s ok. But it’s more of a statement of fact that leaves it open to the interpretation of the listener as to how that could help them.

For example, a Regents Banker that is asked “What do you do for a living?” could respond, “ I work at Regents Bank San Diego where we offer a complete portfolio of business products to San Diego businesses, such as business checking accounts, online banking, lines of credit and commercial loans.” And this would be a solid factual answer. But does it really answer the question, which was “What do you DO?” Not really. The answer revealed what services the bank offers.

The underlying question in most cases when people ask what you do, particularly at a business function, is ‘What do you do that can benefit me and my business?” That is the question you want to be prepared to answer.

In this example, our banker would have better answered that question by saying, “I work at Regents Bank where we offer a complete portfolio of banking products, but the most important service our clients tell us we offer is something called Regents Bank “Consultative Banking”, which is where we spend one-on-one time with them to really understand their business and their goals. We then tailor make custom financial solutions which help their revenues and profit margins grow.” And that is what San Diego business bank Regents Bank really does and why we are a very valuable asset to our customers and their businesses.

So what do you really do for your customers? What is the underlying benefit to them from the product or your service you bring to the marketplace?  What’s in it for them? As the old adage says, “People don’t buy drills, they buy holes.”

Regents Bank is a San Diego business bank with offices in La Jolla, downtown San Diego, El Cajon, Carlsbad and Vancouver, WA. Visit us online at www.regentsbank.com to learn more.

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Posted on January 9, 2012, in Business Advice, Consultative Banking and tagged , , , , . Bookmark the permalink. Leave a comment.

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