Session Description:

The very prevalent concept of a "volume-based," “balance sheet driven”, and “cross-sell focused” culture has been known to have detrimental effects on the current income and long-term earnings risk of an institution. So, setting a goal to “just bring in more” and “pricing for more” doesn’t get the institution always to its profitability targets. The presentation will provide an overview of the current challenges that many financial institutions and management teams are facing in their struggle to price products, and portray a unique way of looking at pricing, so as to balance pricing with profitability. Although not “single-program-silver-bullet” focused, there are specific ways to approach the “pricing task” in today’s environment through methods that are based on profitable strategies and tactics. Successful management teams are beginning to understand the need for this new culture. The presentation will elaborate on:

• Specific strategies and tactics that focus on break-even levels, product combinations, and relationship base

• Unique concepts that focus on existing relationships with specific pricing strategies, don't just respond to competitor pricing, but bring in more "finesse" to the table

• Examples that discuss these real-world situations, so attendees can learn what to do/what not to do at their institutions

This session is appropriate for senior financial services executives with responsibility Branch Management, Marketing, Market Research and Strategy Teams.
 

About Rich Weissman:
Rich is President and CEO of DMA, He has over 25 years of marketing experience in national and international consumer and business-to-business companies. Prior to founding DMA in 1996, he was Marketing Director at: Bank of America, U.S. Bancorp, and National Westminster Bank USA. He also worked in market research in the packaged goods industry. His work has been recognized nationally, he is known as one of the nation’s leaders in profitability integration, and he is a national top-tier speaker.

Rich completed his Ph.D. work at New York University in Quantitative Analysis and Statistics, and he holds Master’s degrees in both Sociology and Psychology coupled with post-graduate studies at New York University’s School of Business. He also completed the Marketing Management Program at Stanford University. Rich holds many academic awards, including Phi Beta Kappa, and he completed his B.A. summa cum laude at New York University in the Social Sciences, focused on Statistical Research.


About DMA:
DMA is a premier national database company, providing systems, research/analytic support, and the DMA think-tank to community banks and credit unions.  DMA’s focus is on integrating management, finance, marketing, and sales activities based on a foundation of profitability analytics.  DMA’s value is in helping community banks and credit unions manage their institutions for income sustainability. 

DMA believes that only the most informed and profitable with survive and prosper, and that a detailed understanding of profitability dynamics is critical for success.  DMA has created a unique and new risk management tool, called “Profit Risk”, which assesses the sustainability of the income statement over volatile economic environments.  This new tool is essential for managing in today’s economy. 


www.DMAcorporation.com
 

 

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