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Business Development

Getting to Win-Win Through Negotiation

By Marci Malzahn

Excellent leaders possess strong negotiation skills. Yet the art of negotiating successfully is rare these days. As many organizations transition to their next generation of leaders, soft skills training, which includes negotiation skills, seem to be forgotten. I consider negotiation skills to be a key trait for up-and-coming leaders to succeed in the marketplace.

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Marketing FOR, not Marketing TO

By Liz Wheeler

When Chad Hoffman, president and CEO of Richwood, Ohio-based Richwood Bank offered Heather Wirtz — who has a background in digital communication, media buying, ad design and branding — a full-time position as chief development officer, he “basically gave me the keys to the kingdom,” Wirtz said. It was “a marketer’s dream.”

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Hometown, Community Banks Don’t Have to Disappear

By Michael Boukadakis

The Wall Street Journal recently detailed the demise of the National Bank of Delaware County (NBDC), a small community bank that had been in business since 1891, after it bought Bank of America’s sole branch in an upstate New York town. “People waited in four-hour-long lines at the Monticello, N.Y., branch and withdrew nearly half of their deposits, moving them to banks with more reliable technology … The community bank, which had been in business for more than a century, eventually sold itself in a fire sale,” the Journal dolefully reported. But despite cautionary tales, community financial institutions aren’t doomed.

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What’s Your Adjective?

By Alaina Webster, Editor-in-Chief

Every brand has adjectives. It’s compulsory. Food must be “fresh.” Designs must be “clean” or “bold.” Heck, even Spiderman can’t just be Spiderman. He’s your “friendly, neighborhood Spiderman.”

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Content-Based Marketing Helps Banks Gain Inside Track

By Maura Keller

Community bank customers expect to be treated as individuals, not statistics. At the same time, marketing to customers “subjectively through personal stories instead of numbers clearly presents our dedication to our community,” explained Kristi Poling, marketing and creative services manager at Minnesota Lakes Bank, Delano, and its sister institution, Grand Rapids State Bank in Grand Rapids, Minn. “We’re only going to see more content marketing in the future of the financial industry, so the quicker we can become comfortable with the concept, the better.”

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