Jim S Miller

Thoughts on the Client Experience and Banking

11 Principles Frost Bank Lives By

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Frost Bank Tower

Frost Bank Tower

Banks are big on marketing spin, especially when it comes to talking about the importance of their customers.  It is easy to make commitments such as “we put our customers first”, but Frost Bank has come out with a list of 11 principles to live by that go much further.  Frost has set up a website titled “What We Believe”  listing the principles along with customer stories for each one.

Frost Banks Principles to Live By:

  • Bankers should know their customers by name and vice versa.
  • Courtesy should not be based upon the size of one’s nest egg.
  • The Golden Rule is more valuable than a free toaster.
  • When a customer calls, an actual person should answer the phone.
  • We believe in doing what’s right, even when no one is looking.
  • We’d never do anything with a customer’s money that we wouldn’t do with our own.
  • We wouldn’t say anything in this size print that we wouldn’t say IN THIS SIZE.
  • You get what you pay for.
  • If it sounds too good to be true, it is.
  • Slow. And. Steady. Wins. The. Race.
  • All the ATMs in the world are no substitute for customer service.

Our research shows that very few customers attribute advertising as a primary reason for selecting a bank, but the reputation of the bank is much more important.  I think Frost is right on target in using their advertising dollars to build their reputation and making a commitment to their customers at the same time.  It would be great to see more banks publicly list their principles.

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Written by Jim S Miller

October 20, 2010 at 12:15 am

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