Glenn Grossman

The need to attract deposits to fuel your bank’s loan operations is essential for a growing and profitable bank. Attracting and retaining deposits has followed a similar strategy across the banking landscape for many years. Banks attempt to “lure in” additional deposits with an attractive promotion, often in the form of a high interest rate that naturally eats into yo…

Here we are. My third and final post in the series on promotional deposit offers. If you’ve followed along this far, you may be saying, “Sure, that all sounds great, but it’s idealistic and pie in the sky. It can’t actually be implemented, delivered, and measured.” Realists (and skeptics) of the world unite. In this post, we’ll get detailed, real, and dive into the pr…

In my first blog post, we explored the current state and challenges tied to promotional pricing in deposits. Now, let’s investigate the many possibilities for deposit promotions that provide multiple levers to deliver differentiated value for the customer and measurable benefits for the bank. It’s no surprise that customers have varying perspectives on savings. Some…

Let’s face it—most consumers (me included) love a good deal. In retail, the enticing banner of SALE triggers purchasing behavior in many consumers. Like moths to the flame, retailers use attractive promotions to draw business. In this three-part blog series, we will explore: 1) the challenges with the current state of promotional pricing for deposits, 2) the art of w…