Monthly Archives: April 2012

Bank Sales Strategies – 4 keys to retain small business customers

Due to high level of dissatisfaction with many banks, many customers are willing to take their business elsewhere and shift to other banks. Here are 4 no fail strategies that can be used by individual business bankers in retaining small businesses and their owners as customers.

  • Strategy 1 : Attract the right customers.

Line salespeople are the ones who have the highest opportunity to attract the right small business customers. You need to establish your criteria on what kind business banking you are looking for, whether they are good fit for the products and services offered by you? Who will be most beneficial from the value offered by you? Once you know the answer to these questions, then you can pursue the prospects that fits to your criteria. Referrals are of very high value in this process.

  • Strategy 2 : On board small business customers thoroughly.

Once you find the right customers, get to know them properly and see what ticks their goals and strategies, plan for their future, challenges that they are facing etc. you need to offer them sticky products like online bill payment etc which will be used by the customers.

You need to build up a lot of trust an demonstrate interest and enthusiasm among your customers. You should call your customers four to six times in year and bring new business ideas, business insight, and information on how small business customers can run their business better with proper cash management. You can also include the business owners, their families and their employees.

  • Strategy 3 : Provide enough reasons to them so that they stay.

Small business customers will be happy to stay with you and your bank as long as they are happy with your services, getting the real value and feel bonded to you. You should frequently ask them about their expectations in banking with you and going beyond their expectations. Proper strategies must be developed for this and execute it consistently. More value can be added to the relationship by engaging them in strategic dialogue and to build their business proactively. It is a good idea to bond with your small business customers through shared activities and other networks. And finally make an emotional relationship with them by aligning yourself with your customers’ core values and beliefs.

  • Strategy 4 : Problems to be fixed at the earliest.

Whenever your customers face a problem, your goal should be to solve it as soon as possible. If it cannot be solved within a day, then you must share the progress report with your customer so that they know about your actions. Throughout the process, you should always interact with your customers and not to keep them in the dark.

Information on how to consolidate student loans

We have heard many times about the student loan consolidation programs. Once a student completes his graduation, he will be filled with huge amount of debts and the only solution to come out of it will be to consolidate it all.

Student loans are quite easily available at very competitive interest rates. But the problem is faced when it is time to repay it back after your graduation. Because of this reason, once a student completes his graduation, he will already find himself in huge amount of debt and the situation gets even worse when he is not able to make the monthly loan payments in time.

Many people face the problem in paying back the student loan mainly because they did not calculate the interest rates that will incur , at the time of getting the loan and also because of not having a good paying job after graduation.

In such tough conditions, it will be very difficult to make the monthly student loan payments, especially when he has other payments like auto loans or housing expenses. These debts will keep on increasing and it will go up to the point when his personal life will be seriously affected.

The best way for these graduates to get their life back in control will be to apply for a student loan consolidation program. It will save a lot of students from such financial troubles

A student should always consider for a student loan consolidation program if he is having a hard time in paying his student loans on time. After enrolling in a consolidation program, you can keep your credit in good standing because you won’t have to worry about missing any more payments. Browse through the internet and you will find a lot of student loan information that will make you educated. The monthly payments will go down significantly and you will have enough cash left even at the end of the month. You will also get credit counseling advice once you enroll in a student loan consolidation program.

It will be the responsibility of the loan consolidation company to pay off your debts in full. You won’t owe any money to your current lenders. You just have to make timely payments to your loan consolidation company. You will be able to pay back the loan in a time frame of 5 – 30 years.

Search for a reputed student loan consolidation company. The application process is very simple and they will ask you few questions to verify your job status. It will be wise to apply for these consolidation program before you graduate. This will reduce your financial burden once you complete your graduation.

Currency Pairs for trading

In the forex market, a lot of trading is done with currency pairs. You buy one currency by selling another currency. Whatever the difference is in the currency pair prices, that is considered to be your profit and it occurs in the natural course of the market.

There are many currency pairs in the forex market. A currency that is most commonly traded can be matched with any other and this is how a pair is created for trading. However, all currency pairs are not always equal. Some are better to trade than other currencies. Check out this article to know which currency pair is the best one to trade with and why.

King of the Hill :

The most heavily traded currency pair is the EUR/USD, or the Euro-Dollar. This pair covers a huge part of the entire forex market volume. Many training products and system are actually focused on the EUR/USD alone, because it offers a lot of liquidity and volume and will set the tone for the entire market.

4 top Major Pairs :

Other than EUR/USD, there are 4 other pairs that are most worthwhile currency pairs to trade with. These are EUR/USD, GBP/USD, USD/JPY, and the USD/CHF. Hence, you can see that a total of 5 currencies make up the 4 top pairs, (Euro, British Pound, US Dollar, Yen, and Swiss Franc) and the Dollar is present in all of them.

When you trade with these pairs, there is a lot of liquidity, hence you will always find a buyer ready for transactions when you want to make with these pairs. The commission on these pairs is usually low. Brokers take a small spread because they make their profits in sheer volume. If you are trading with pairs that are less known, there are chances you will make bigger commissions which can eat into your profits.

Other common pairs :

The top 4 pairs mentioned above are the most liquid pairs. However, there are other 3 pairs that are also considered to worthwhile. They are AUD/USD, NZD/USD, and the USD/CAD and they offer competitive spread rates as well.

Binary Options Investing for short term profits in greater scale

If you have your interest in trading in the stock market or investing stock options, then you might want to think about a possible alternative. This is called binary option trading. In this trading, you first select an asset, like a stock index, and individual stock, a commodity, or a currency pair.

Next step is to figure out a time frame, say for example, from one hour till the end of the trading day. The last step is to finalize on how the asset will move. If you feel that it will move up by the end of the time period, you will select a call option. Alternatively, if you think that the asset will move down at the end of the time period, you will pick a put option. Then you decide on how much you will bet or the investment you will make.

The interesting thing about binary trading in is that you can start your trading with an exceptionally small amount and here, you always have the fixed amount of risk. You won’t see the risks fluctuating here. The maximum thing that can happen is that you might lose the entire amount that you have bet on an individual trade, but nothing more than that. This is quite different from some other types of options and commodities trading, where you trade on a margin, and may be subject to a margin call, if the investment goes against you.

You can usually expect a 70% return in binary options trading. So, within one hour, you are able to make 70% return on your investment. Online brokers do not charge any commission for trading binary options. So you won’t have to minus that from your returns.

Binary options trading seems like an easy task to estimate whether the asset will go higher or lower in one hour and you can expect a 70% return.

By looking at the recent trends, you can reach to forecasting. Though the trends can change anytime, but still, they are a reliable way to predict prices in the short term. You will know many other technical analysis strategies that can be used besides trends. It is recommended that you first practice on paper before risking real cash.

Before you start investing your money, check the system and verify its performance to make sure that you are putting your money in the right direction.

Information on buying Gold

With so many uncertainties in the market, whenever it comes to buying gold, people are looking for a traditional value store where it will be easier to protect their investment and savings against inflation. The price of gold is fixed twice a day by the five members of the London Gold Pool, making it far less prone to the effects of a fluctuating global market. Read the tips mentioned below when you are looking to buy gold.

In UK, gold is subject to capital gains tax. This means that when you are reselling your gold, you will have to pay taxes on the profit earned by you.

Dealers in UK typically deal in gold bars from 1 ounce to 100 ounces. There are some companies like Baird & Co. have 2.5g bars available. It is very difficult to find a gold coin. If you want to purchase gold more than £5000, then you have to show your passport and two utility bills proving your citizenship and residential address.

Many people think that stockpiling jewelry can be an easy alternative to buying gold. The fact is, each piece of jewelery includes the price of craftsmanship, handling and transport. Therefore, buying jewelery is not a good investment option. The metal mixed with gold won’t be that pure enough like an investment-grade gold. Old English pieces can be easily sold in the antiques market for their collectors value rather than their gold value.

A huge part of the gold investment is done on the internet. You can make the payment through the gateway and the purchased gold will be delivered to your home address by courier. You can also opt to keep the gold with the company, for a fee, just to make sure that your gold is safe. You can store gold at your home, but keep in mind, that you will have to bear additional costs, like insurance.

You will find many Gold Brokers in your locality and they will be a lot more trustworthy than an internet company. Also, check with your bank for locker facilities, at a very small price.

Other gold related investment options are exchange-traded funds or stocks in gold mining companies themselves. Keep in mind that this kind of investment will bear additional transaction fee and will be open to fluctuating markets.