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Echo Partners Community Bank Blog

    Did you eat ice cream this weekend?

    [fa icon="clock-o"]} [fa icon="user"] Howard Lothrop [fa icon="folder-open'] deposit profitability, analytics

    Happy couple enjoying an ice cream on a date.jpegDid you eat ice cream this weekend?

    If so you may have contributed to an increased murder rate in your hometown!

    Sounds silly, I know. But numerous statistical studies have linked increased ice cream consumption with increased murder rates.

    Now I know that ice cream doesn’t cause murder…it’s simply correlated with increased murder rates.

    They tend to increase or decrease at the same time, perhaps in line with temperature.

    Do you know what else is correlated? Length of customer average life and profitability.

    But just like ice cream and murder, one doesn’t cause the other.

    At least not in the way you might think it does.

    Having a customer for a longer time, in and of itself, doesn’t cause increased profitability.

    Oh, it’s nice to have both, and they often go hand in hand, but one doesn’t CAUSE the other.

    Do you know what causes increased profitability?

    Offering more profitable products causes increased profitability. And that’s especially true with #DepositProfitability

    And when you have more profitable products, you’re incented to work harder to keep your customers satisfied, and they tend (with your help) to stick around longer.

    That’s what moves the needle on profitability, not just keeping every account longer.

    Do you want to grow your bank profits with little to no risk? Click Here to  Discover How
    Howard Lothrop

    Written by Howard Lothrop

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