Sept. 15, 2021
Being a Customer Advocate Within Your Business with Brian Kale
In episode 92, host Eric Dickmann interviews Brian Kale. Brian is a customer service advocate, CX industry insider, and Head of Customer Success at Bank Novo. a small business banking platform connecting business owners to no-fee checking and debit accounts. He's been helping companies better understand their customers by building better products for their needs.
For show notes and a list of resources mentioned in this episode, please visit:
https://fiveechelon.com/being-customer-advocate-within-your-business-s6ep11/
Send us your questions or comments
A fractional CMO can help build out a comprehensive marketing strategy and execute targeted campaigns designed to increase awareness and generate demand for your business...without the expense of a full-time hire.
The Five Echelon Group - Fractional CMO and strategic marketing advisory services designed for SMBs looking to grow. Learn more at:
WEBVTT
00:00:31.339 --> 00:00:33.590
Welcome to The Virtual CMO podcast.
00:00:33.829 --> 00:00:35.564
I'm your host, Eric Dickmann.
00:00:35.899 --> 00:00:48.259
In this podcast, we have conversations with marketing professionals who share the strategies, tactics, and mindset you can use to improve the effectiveness of your marketing activities and grow your business.
00:00:48.399 --> 00:00:51.280
Hey, Brian, welcome to The Virtual CMO podcast.
00:00:51.310 --> 00:00:52.870
I'm very glad you could join us today.
00:00:53.379 --> 00:00:53.679
Hi, Eric.
00:00:53.679 --> 00:00:54.429
It's great to be here.
00:00:54.429 --> 00:00:55.210
Thanks for having me.
00:00:55.239 --> 00:00:56.859
I'm really excited to be talking with you.
00:00:56.859 --> 00:01:00.320
And that was a great intro there, I loved the music, yeah.
00:01:00.469 --> 00:01:00.739
Yeah.
00:01:00.829 --> 00:01:02.679
I like to play a little upbeat music, you know?
00:01:02.709 --> 00:01:04.730
Get everybody in the mood, get the blood flowing.
00:01:04.730 --> 00:01:05.390
So yeah.
00:01:05.450 --> 00:01:06.260
Thanks for that.
00:01:06.769 --> 00:01:13.189
Oh, you know, hopefully the sounds of New York here hopefully filter too much in I'll mute myself when it gets real bad.
00:01:13.489 --> 00:01:13.879
Yeah.
00:01:13.939 --> 00:01:15.709
It just makes it more real.
00:01:15.739 --> 00:01:21.469
And you know we're recording this actually on the day that a hurricane is passing by Florida where I live.
00:01:21.650 --> 00:01:26.450
So you know, we may be interrupted by a big thunderstorm or something as well, but we just roll with the punches.
00:01:26.929 --> 00:01:29.650
Yeah, definitely God willing and the creeks on her eyes, as they say.
00:01:29.719 --> 00:01:30.739
Yeah, I like that.
00:01:30.769 --> 00:01:31.489
I like that.
00:01:31.849 --> 00:01:38.269
Hey, I'm excited to talk to you today because I've spent a large portion of my career in financial services.
00:01:38.539 --> 00:01:48.349
And so it's always interesting to talk to a fellow financial services guy, especially somebody who is responsible for the customer experience, customer success.
00:01:48.769 --> 00:01:54.709
So I'm really interested to get your thoughts but, you know, before we dive too deep into it, how did you end up in financial services?
00:01:55.549 --> 00:01:56.899
That's a very good question.
00:01:57.229 --> 00:02:01.429
I know if you asked my parents 15, 20 years ago, they would ask the same thing.
00:02:03.019 --> 00:02:07.640
So I moved to New York in 2012 and fell into the startup industry.
00:02:07.939 --> 00:02:09.020
I actually applied for a job.
00:02:09.080 --> 00:02:15.650
I thought it was fake and they called me back later, it was an artificial intelligence company, and I applied for the customer experience position.
00:02:16.159 --> 00:02:24.740
And I went on the interview and saw it was a real company and took the job, and you know, route 2014, 2015 was working in customer experience.
00:02:25.250 --> 00:02:33.289
And built up quite a bit of you know, experience and knowledge and you know, after being in a company for a couple of years, In this day and age, you move around.
00:02:34.310 --> 00:02:36.479
It's very advantageous for your professionals.
00:02:37.330 --> 00:02:45.710
So I was seeking a company that was very early on, had really started its customer experience program and is looking for somebody to come in and build it from the ground up.
00:02:46.280 --> 00:02:49.670
And I got connected with our CEO, Michael here.
00:02:50.030 --> 00:03:06.500
And I wasn't specifically looking for a FinTech or anything, but obviously you know, three years ago now I knew that FinTech was going to be a big deal, um, but I think I focused more on finding a company that would be a better fit for me and my skillset and it just so happens to be that it was FinTech.
00:03:06.770 --> 00:03:14.390
And that's what I love about the startup industry in general is it allows you to kind of experience different industries and verticals.
00:03:14.719 --> 00:03:28.520
And Novo was honestly also looking for non-industry veterans because we wanted to bring a different spin to banking that we felt a lot of traditional banks were not providing for their customers.
00:03:28.640 --> 00:03:38.570
You know I'm sure a lot of these traditional players get stuck in these bureaucratic policies and rhythms, which is good, and they've operated that way for a long time.
00:03:38.930 --> 00:03:43.939
But consumer demands of the last ten, five, and even now 12 months.
00:03:44.210 --> 00:03:46.250
That's so dramatically changed.
00:03:46.280 --> 00:03:48.969
And honestly, everyone's being compared to like Amazon and Apple.
00:03:48.969 --> 00:03:49.840
Oh I know, right.
00:03:50.120 --> 00:03:50.390
Yeah.
00:03:50.390 --> 00:03:58.189
So Nova wants to come in and provide them with a consumer great experience that they're honestly not getting at the traditional players.
00:03:58.490 --> 00:04:02.180
And so you know, we being a non-traditional, it was a good fit.
00:04:02.630 --> 00:04:08.600
And now that I'm in the industry, I feel that more financial institutions should be taking this approach.
00:04:08.930 --> 00:04:15.740
We need to match the expectations of consumers who don't care about these archaic financial policies.
00:04:15.740 --> 00:04:18.800
They don't care that checks don't work the way you think they do.
00:04:18.800 --> 00:04:20.480
They don't care that the Sage system.
00:04:20.990 --> 00:04:21.889
Is slow.
00:04:22.279 --> 00:04:31.459
And I think that that is what gives Novo such an advantageous play here, specifically in small business space which is our focus.
00:04:31.509 --> 00:04:39.110
And also, the consumer banking side has gone through traumatic changes even with the traditional players.
00:04:39.529 --> 00:04:42.050
So, yeah, so it's really exciting to be here.
00:04:42.050 --> 00:04:58.579
What I see is like an inflection point in our economy as the whole economy rapidly goes digital and there's massive innovation in personal, financial tools and services available to the consumer.
00:04:59.389 --> 00:05:03.919
Like this podcast wouldn't exist 10 years ago, you'd need like five, six people to run this thing.
00:05:03.919 --> 00:05:11.000
And I bet it's just you and your studio by yourself flipping buttons to make these nice camera moves, you might outsource editing.
00:05:11.299 --> 00:05:11.659
Go ahead.
00:05:11.839 --> 00:05:12.019
No.
00:05:12.019 --> 00:05:14.990
I was gonna say, I do have some Oompa Loompas that help, but other than that, no.
00:05:15.399 --> 00:05:19.129
Yeah, it's me, you're right, the technology has changed dramatically.
00:05:19.310 --> 00:05:24.589
But I still think it's a gutsy move for our company to sort of get into the banking space.
00:05:24.589 --> 00:05:33.319
Obviously we talked a little bit before the show FinTech is booming, there's a lot of innovation that's happening, especially in the payment space, but know to start a bank.
00:05:33.529 --> 00:05:36.289
You know, I think there are more banks in this country than there are McDonald's.
00:05:36.409 --> 00:05:38.449
You know there are a lot of banks that are out there.
00:05:38.449 --> 00:05:44.810
So you truly have to come up with something that's unique and innovative to be successful in a space like this.
00:05:45.889 --> 00:05:46.519
I agree.
00:05:46.519 --> 00:05:49.819
And I think that there are about 1200 banks in United States right now.
00:05:50.120 --> 00:05:54.799
But note that that is half the amount of banks we had eight years ago.
00:05:54.799 --> 00:05:54.987
Been a lot of consolidation.
00:05:54.987 --> 00:05:56.269
And a lost 50%.
00:05:56.299 --> 00:05:56.689
Yes.
00:05:56.719 --> 00:05:57.560
A lot of consolidation.
00:05:57.979 --> 00:06:04.490
There were like, I think 32, maybe 34 national banks in 08, now there's 4.
00:06:04.759 --> 00:06:09.469
And most of the loss in banks we've seen are regional small, local banks.
00:06:09.469 --> 00:06:12.560
So that's who Novo really is here for.
00:06:13.069 --> 00:06:21.949
We sit on top of small regional community banks and connect them with consumers that they'd never have an opportunity to connect you with because they can't innovate fast.
00:06:22.939 --> 00:06:26.569
They don't have the capital to build apps, they can't connect with anything.
00:06:26.870 --> 00:06:33.289
So that's what Novo is really also trying to innovate here is keeping these regional banks alive as they're so suffering defined.
00:06:33.769 --> 00:06:38.419
You know, consumers who as I mentioned, have consumer grade demands and they want fast apps.
00:06:38.449 --> 00:06:41.359
They want instant access, full acts or cats for that matter.
00:06:41.750 --> 00:06:45.049
And so Novo is trying to do like a couple of things at once here.
00:06:45.319 --> 00:06:55.240
And I agree it is scary jumping into FinTech in this day and age, especially when some of the largest banks in America right now are Starbucks, Amazon, Google.
00:06:55.509 --> 00:06:59.169
Like those are really the players that everyone kinda overlooks.
00:06:59.359 --> 00:07:17.509
And even the traditional players I think are at significant risk of disruption from these big tech companies who are becoming the largest marketplaces in the world and will be highly incentivized to provide banking products to their users and consumers.
00:07:17.779 --> 00:07:20.810
So it's really fascinating that I find myself here.
00:07:21.109 --> 00:07:31.909
It's like I'm looking out as the whole economy is rapidly changing to this new thing and the government, I think needs a lot of catching up to do as well, which is a whole other can of worms.
00:07:32.000 --> 00:07:47.209
Well, I think one of the advantages that smaller companies have, even in spaces that are dominated by a few big players is they also have the legacy of years worth of technology, of years worth of bureaucracy, and that doesn't always make them very nimble.
00:07:47.329 --> 00:07:49.399
Change is really difficult.
00:07:49.639 --> 00:07:57.949
And I think if you would ask people about their experience of calling into a bank call center, it's like calling your cable TV provider or your utility company, right?
00:07:57.949 --> 00:07:59.419
It's, it's painful.
00:07:59.419 --> 00:08:01.039
Nails on a chalkboard painful.
00:08:01.310 --> 00:08:05.060
And you wonder why in this day and age, they can't be better.
00:08:05.060 --> 00:08:09.049
They don't have more access to the kinds of tools that.
00:08:09.049 --> 00:08:11.839
It would help them be able to support their customers in a better way.
00:08:12.919 --> 00:08:15.209
And you actually kind of just hit the nail on the head.
00:08:15.209 --> 00:08:25.669
You know, phone services, old banking services for years, the only way to contact like At&T and Verizon was to either go in or call.
00:08:25.879 --> 00:08:30.169
And this is trained generations of consumers that that's the way you do it.
00:08:30.409 --> 00:08:33.409
But as you said, there's no reason you need to do that.
00:08:33.409 --> 00:08:39.379
There's no reason you have to talk to a middle person to have full control of your bank account.
00:08:39.379 --> 00:08:43.399
Nova was really trying to prioritize full customer empowerment of their account.
00:08:43.820 --> 00:08:46.669
Call us when you want to, not when you need to, right?
00:08:46.669 --> 00:08:48.769
Like you shouldn't need to call us for anything.
00:08:49.279 --> 00:08:54.710
Obviously people have emergencies, people have problems, those are the calls that we want to serve.
00:08:54.950 --> 00:08:59.720
And it's not like you as a consumer, like, oh God, I woke up today.
00:08:59.840 --> 00:09:02.360
I guess I got to call my bank to ask them this question.
00:09:02.629 --> 00:09:03.980
There's no reason to do that.
00:09:03.980 --> 00:09:05.360
So that's where we're at.
00:09:05.360 --> 00:09:08.649
And as you said, we see ourselves more as a tech company, not a bank.
00:09:08.850 --> 00:09:10.789
That really enables us to innovate
00:09:11.059 --> 00:09:11.659
Well, I like it.
00:09:11.659 --> 00:09:19.699
You know, I think empowering consumers is really an important thing because many times I think organizations give lip service to that.
00:09:19.730 --> 00:09:29.600
They give lip service to good customer experience, but you know, one of my favorite examples is when you call into a call center and they say, please listen carefully because our menu options have changed.
00:09:29.990 --> 00:09:30.889
No, they haven't.
00:09:31.250 --> 00:09:33.289
They haven't changed since you installed the damn thing.
00:09:34.049 --> 00:09:46.370
What they're saying is please, please, please don't put zero, don't talk to somebody, listen here and maybe one of the options will answer your questions, but please don't by default select zero to talk to an operator.
00:09:46.490 --> 00:09:49.279
And in fact, many of them have disabled zero, so you can't pick it.
00:09:49.699 --> 00:09:55.159
That's not about customer service, that's about them trying to gain some efficiencies in their call center.
00:09:55.159 --> 00:09:57.649
But what they're really doing is annoying customers in the process.
00:09:58.639 --> 00:09:59.360
Exactly.
00:09:59.360 --> 00:10:09.470
And there's a lot of market research that's come out lately in the last few years that consumers actually feel agitated and it is an inconvenience when they have to call a company.
00:10:09.829 --> 00:10:11.319
It doesn't matter if it's a bank or not.
00:10:11.750 --> 00:10:23.210
And at the same time, consumers are more open to texts, SMS live chats, and they're more open to finding an answer or a solution, any means possible as long as they can do it within five minutes.
00:10:23.509 --> 00:10:30.470
So it's like this coming together of consumer demands and expectations, and you know not calling them, but lazy companies.
00:10:30.769 --> 00:10:42.049
It's like all you need to do is provide consumers with quick little experiences that may or may not involve a human, that just guide people to answers or guide people to solutions.
00:10:42.470 --> 00:10:43.669
And that's all consumers want.
00:10:43.669 --> 00:10:51.980
Like for as much flack as Amazon gets, if you order an Amazon product, you can go right now, see your invoice, see where it is.
00:10:52.159 --> 00:10:53.629
Cancel, reschedule, reorder.
00:10:53.659 --> 00:10:54.829
You can do anything you want.
00:10:54.829 --> 00:10:58.490
And that's one of the innovative aspects of Amazon that is often overlooked.
00:10:58.490 --> 00:11:05.029
Like everyone likes to jump on them for all the bad things they do, but there's a lot of amazing, innovative things they've done.
00:11:05.419 --> 00:11:06.439
And Apple's the same way.
00:11:06.439 --> 00:11:09.019
If you have an Apple Cart, you could just text them.
00:11:09.889 --> 00:11:13.960
They'll just quickly give you what you need and it's five minute or less experience.
00:11:14.179 --> 00:11:18.889
And that is I think the future of everything, not just FinTech.
00:11:18.919 --> 00:11:25.519
It is every company is going to be looking to innovate this, and so that's what I think is the opportunity.
00:11:25.819 --> 00:11:30.409
There's so many listeners of this podcast and myself and so many companies as well.
00:11:30.919 --> 00:11:33.559
I love the way you framed that, because I think.
00:11:33.889 --> 00:11:41.720
And I believe this is true, really in the banking space is that so many organizations out there really believe that they have truly differentiated products.
00:11:42.169 --> 00:11:47.169
And you'd have a hard time convincing me that there was a huge difference between one checking account and another.
00:11:47.980 --> 00:11:56.389
They're minor differences right there, the rates that they pay or fees that they charge, or certain things, but what it really comes down to is service and access.
00:11:56.569 --> 00:11:58.750
Those are the attributes of the product.
00:11:58.970 --> 00:12:00.710
In an ideal world.
00:12:00.740 --> 00:12:01.850
It's almost invisible.
00:12:01.850 --> 00:12:04.759
Everything just works and you never have to inquire about anything.
00:12:05.000 --> 00:12:15.529
But I think oftentimes organizations get very hung up on what they believe are the features and benefits of their product, which turned out not to be all that much different than their competition.
00:12:15.559 --> 00:12:16.970
It's really that service level.
00:12:17.120 --> 00:12:18.169
Would you agree with that?
00:12:18.529 --> 00:12:19.879
I a hundred percent agree with you.
00:12:19.879 --> 00:12:23.169
I think that everyone wants banking to be invisible.
00:12:23.429 --> 00:12:25.600
said it before, no one wants to talk to their bank.
00:12:26.000 --> 00:12:37.850
And so if you really are customer innovative, you would do everything you can to build experiences and products that enable customers to just never need to talk to you because it just worked.
00:12:38.210 --> 00:12:40.909
Money just was moved when it needed to move.
00:12:41.240 --> 00:12:44.269
You connected your accounts to each other and it just works.
00:12:44.600 --> 00:12:52.579
So what that also does though is it creates a setting where consumers might only contact you once a year.
00:12:52.759 --> 00:12:57.470
So the only way they build brand equity with you now is that one interaction.
00:12:57.740 --> 00:13:02.659
So you need to get that one interaction to be perfect or else they could turn very quickly.
00:13:03.110 --> 00:13:12.379
And a lot of companies are afraid of that and they built these legacy call center systems with these IDRs.
00:13:12.809 --> 00:13:14.629
And they're hesitant to change.
00:13:14.629 --> 00:13:21.980
And for so long, it's been cheaper to put people on phones rather than build a tech solution, which would be a much better experience.
00:13:22.069 --> 00:13:31.389
But what's fascinating is the salaries, the cost of supporting that the phone center has Forex in like two years.
00:13:31.730 --> 00:13:40.850
I'm talking in the United States, the Philippines, India, like everywhere, no matter where you outsource it, the prices, the cost has gone up significantly.
00:13:41.240 --> 00:13:46.460
And so companies are going to do one of two things, they're either going to make terrible experiences.
00:13:47.269 --> 00:13:47.870
One of three things.
00:13:47.899 --> 00:13:50.569
They're either going to try to do the same thing with make it terrible.
00:13:50.600 --> 00:13:53.449
Like try calling FedEx right now, it's impossible.
00:13:53.480 --> 00:13:56.220
And they keep trying to direct you to their live chat, but their live chat.
00:13:56.220 --> 00:13:57.769
there is no one there and it doesn't work.
00:13:58.370 --> 00:14:05.870
Or they're going to create an amazing tech solution or they're going to charge you in some fashion to support those phone calls.
00:14:06.199 --> 00:14:11.000
You know, Amex has amazing phone support, but they also charge you$600 annually or whatever it is.
00:14:11.360 --> 00:14:24.110
And that's how they support it and the consumers, I think one of the things I always try to do when I talk on these shows is educate consumers about why support is the way it is and how much it is actually costing you.
00:14:24.470 --> 00:14:27.889
The reality is phone calls are costing you some way.
00:14:28.100 --> 00:14:30.730
You're getting charged by somehow you're getting charged for it.
00:14:31.149 --> 00:14:34.939
And so you as a consumer while it's great to get a call.
00:14:35.449 --> 00:14:37.759
You should in the longterm think of ways of.
00:14:38.480 --> 00:14:41.120
Wait, how is this actually, how much are they charging you for this?
00:14:41.329 --> 00:14:51.539
Even if they don't send me a bill, where is the hidden costs and what should I be looking for in a company that I want to commit to 5, 10 years down the road.
00:14:52.079 --> 00:15:03.350
And there's a lot of consumer education around brands that I think is a good opportunity for everyone as well involved, which, you know, I've said that twice now.
00:15:03.350 --> 00:15:13.259
But I really do feel that you know we as consumers can find tremendous value, identifying companies who do understand what you brought up, and then how to switch to them, then use them.
00:15:13.629 --> 00:15:17.850
So many companies claim they do that and they have no idea.
00:15:17.850 --> 00:15:28.039
And they have these made up metrics or these made up features, and they just go tout how great their customer service is or their customer experiences, but no one wants to call, no, one wants to talk to you.
00:15:28.039 --> 00:15:29.179
Nobody wants to call.
00:15:29.329 --> 00:15:44.059
Well I think one of the frustrations that I see and I've had guests on the show talk about before is that when you call in and you talk to somebody or even sometimes when you go into the store, people aren't empowered to make things right.
00:15:44.329 --> 00:15:54.139
And so they're given these scripts and they talk the talk, but they don't have the tools or the empowerment to actually solve your problem.
00:15:54.259 --> 00:16:00.590
So then that means that you're stuck on hold while they talk to a supervisor and it's one supervisor for 50 people.
00:16:00.590 --> 00:16:02.899
So they have to wait their turn to talk to the supervisor.
00:16:03.319 --> 00:16:06.199
And in the meantime, you're just getting more and more frustrated.
00:16:06.439 --> 00:16:10.159
And just like you said, what is the real cost of all of that?
00:16:10.250 --> 00:16:17.870
So now you're wasting my 30 minutes, you're wasting the call center agent's 30 minutes, you're getting two people involved to solve one problem.
00:16:18.259 --> 00:16:20.389
Can you not just waive the$25 fee?
00:16:20.789 --> 00:16:22.970
You begin to really wonder.
00:16:23.779 --> 00:16:27.319
And I bet you could calculate how much you make an hour.
00:16:27.649 --> 00:16:32.100
most of these call centers are open from 8:00 AM to like 7.
00:16:32.120 --> 00:16:41.269
You know you're probably calling during your working hours, so you could calculate how much it's costing you or the business you work for as well, which is a whole other can of worms.
00:16:41.659 --> 00:16:44.899
And you'll get a manager who's also not empowered.
00:16:45.199 --> 00:16:48.529
So it's like the cycle of frustration.
00:16:48.529 --> 00:16:56.569
We live in an era when tools like you're talking about where people can solve problems on their own.
00:16:56.840 --> 00:17:03.649
That's empowering to them because they don't necessarily want to talk to somebody, they just want that problem solved in the quickest way possible.
00:17:03.649 --> 00:17:06.950
And so if you can give them the tools to do that even better.
00:17:07.130 --> 00:17:13.039
You know, I remember working in financial services, this term entanglement that kept getting thrown around, right?
00:17:13.039 --> 00:17:30.559
When you sign up for services like Bill Pay and you've got your mortgage with a company and you've got your checking and your savings account, you are so entangles in that organization that no matter how bad the service is, it's going to be really hard for you to leave them because it's such a hassle disconnecting all of those relationships.
00:17:30.559 --> 00:17:35.599
You can't just change your mortgage overnight, you're not going to want to change all your Bill Pay, right?
00:17:35.599 --> 00:17:37.670
That's all, that's a big problem.
00:17:37.970 --> 00:17:39.829
And so that's their leverage, right?
00:17:39.829 --> 00:17:47.389
They can provide you with C+ service and know that that's good enough because it's not going to push you out the door.
00:17:48.529 --> 00:17:48.859
Yeah.
00:17:48.889 --> 00:17:57.289
And while there's not really monopolies yet in the financial industry, as I mentioned, there's only like four major national players, a quadopoly if you will.
00:17:57.609 --> 00:17:59.180
all kind of do the same thing.
00:17:59.210 --> 00:18:13.660
And the banking industry for a hundred years has been built on closed system customers where, okay we get you with the checking account, and then we know within 12 to 18 months, we're going to upsell you on a mortgage, then car insurance.
00:18:13.950 --> 00:18:16.009
And you'll see this when they interact with you.
00:18:16.009 --> 00:18:17.539
Can I offer you this?
00:18:17.720 --> 00:18:20.960
How many emails do you get from these banks about all of these services?
00:18:21.440 --> 00:18:26.450
It says, you said they want to tie you into their ecosystem and then you can't play with anyone else.
00:18:26.509 --> 00:18:32.509
And there's been a lot of unbundling of many industries over the last 15, 20 years.
00:18:32.869 --> 00:18:46.059
There's some in banking where this prosper, the student lending, there's savings account with Marcus, which is Goldman Sachs, but the core banking products are still largely tied to the major banks.
00:18:46.150 --> 00:18:52.549
You can get a check as a consumer, you can get a debit card from literally anybody right now.
00:18:52.910 --> 00:18:58.660
But you can't get checking from them, you can't get insurance, you can't get mortgages all in one place.
00:18:59.049 --> 00:19:02.029
You can go to different places, which is good and bad for consumers.
00:19:02.029 --> 00:19:09.889
Like you can go to Prosper and get a 30% interest rate loan, where if you went to anyone else will be 20 whatever percent.
00:19:10.509 --> 00:19:17.150
And so that is good and bad, but then you're only have one place in one relationship for your lending product.
00:19:17.710 --> 00:19:30.259
So as a consumer, you should look for financial companies that connect to other tools and services that you want to use or already use, who are flexible, allow you full access to your information.
00:19:30.769 --> 00:19:35.799
And if they are tough with these tools, You should really ask, well, why?
00:19:35.799 --> 00:19:41.990
And it's because as you said, they're trying to entangle you to then sell you more products to make more money.
00:19:41.990 --> 00:19:45.490
And then it's LTV really, it's lifelong value off of you.
00:19:46.049 --> 00:19:48.740
They think that they get you on these three things.
00:19:48.980 --> 00:19:52.579
They're gonna make a hundred thousand dollars off you or more over 30 years.
00:19:52.730 --> 00:19:54.079
That's really the game for them.
00:19:56.442 --> 00:19:59.291
Hey, it's Eric here and we'll be right back to the podcast.
00:19:59.291 --> 00:20:04.152
But first, are you ready to grow, scale, and take your marketing to the next level?
00:20:04.362 --> 00:20:10.721
If so, The Five Echelon Group's Virtual CMO consulting service may be a great fit for you.
00:20:10.991 --> 00:20:16.902
We can help build a strategic marketing plan for your business and manage its execution, step-by-step.
00:20:17.142 --> 00:20:19.692
We'll focus on areas like how to attract more leads.
00:20:19.961 --> 00:20:24.102
How to create compelling messaging that resonates with your ideal customers.
00:20:24.461 --> 00:20:28.031
How to strategically package and position your products and services.
00:20:28.362 --> 00:20:32.771
How to increase lead conversion, improve your margins, and scale your business.
00:20:33.102 --> 00:20:40.872
To find out more about our consulting offerings and schedule a consultation, go to fiveechelon.com and click on Services.
00:20:41.321 --> 00:20:42.581
Now back to the podcast.
00:00:31.339 --> 00:00:33.590
00:00:33.829 --> 00:00:35.564
00:00:35.899 --> 00:00:48.259
00:00:48.399 --> 00:00:51.280
00:00:51.310 --> 00:00:52.870
00:00:53.379 --> 00:00:53.679
00:00:53.679 --> 00:00:54.429
00:00:54.429 --> 00:00:55.210
00:00:55.239 --> 00:00:56.859
00:00:56.859 --> 00:01:00.320
00:01:00.469 --> 00:01:00.739
00:01:00.829 --> 00:01:02.679
00:01:02.709 --> 00:01:04.730
00:01:04.730 --> 00:01:05.390
00:01:05.450 --> 00:01:06.260
00:01:06.769 --> 00:01:13.189
00:01:13.489 --> 00:01:13.879
00:01:13.939 --> 00:01:15.709
00:01:15.739 --> 00:01:21.469
00:01:21.650 --> 00:01:26.450
00:01:26.929 --> 00:01:29.650
00:01:29.719 --> 00:01:30.739
00:01:30.769 --> 00:01:31.489
00:01:31.849 --> 00:01:38.269
00:01:38.539 --> 00:01:48.349
00:01:48.769 --> 00:01:54.709
00:01:55.549 --> 00:01:56.899
00:01:57.229 --> 00:02:01.429
00:02:03.019 --> 00:02:07.640
00:02:07.939 --> 00:02:09.020
00:02:09.080 --> 00:02:15.650
00:02:16.159 --> 00:02:24.740
00:02:25.250 --> 00:02:33.289
00:02:34.310 --> 00:02:36.479
00:02:37.330 --> 00:02:45.710
00:02:46.280 --> 00:02:49.670
00:02:50.030 --> 00:03:06.500
00:03:06.770 --> 00:03:14.390
00:03:14.719 --> 00:03:28.520
00:03:28.640 --> 00:03:38.570
00:03:38.930 --> 00:03:43.939
00:03:44.210 --> 00:03:46.250
00:03:46.280 --> 00:03:48.969
00:03:48.969 --> 00:03:49.840
00:03:50.120 --> 00:03:50.390
00:03:50.390 --> 00:03:58.189
00:03:58.490 --> 00:04:02.180
00:04:02.630 --> 00:04:08.600
00:04:08.930 --> 00:04:15.740
00:04:15.740 --> 00:04:18.800
00:04:18.800 --> 00:04:20.480
00:04:20.990 --> 00:04:21.889
00:04:22.279 --> 00:04:31.459
00:04:31.509 --> 00:04:39.110
00:04:39.529 --> 00:04:42.050
00:04:42.050 --> 00:04:58.579
00:04:59.389 --> 00:05:03.919
00:05:03.919 --> 00:05:11.000
00:05:11.299 --> 00:05:11.659
00:05:11.839 --> 00:05:12.019
00:05:12.019 --> 00:05:14.990
00:05:15.399 --> 00:05:19.129
00:05:19.310 --> 00:05:24.589
00:05:24.589 --> 00:05:33.319
00:05:33.529 --> 00:05:36.289
00:05:36.409 --> 00:05:38.449
00:05:38.449 --> 00:05:44.810
00:05:45.889 --> 00:05:46.519
00:05:46.519 --> 00:05:49.819
00:05:50.120 --> 00:05:54.799
00:05:54.799 --> 00:05:54.987
00:05:54.987 --> 00:05:56.269
00:05:56.299 --> 00:05:56.689
00:05:56.719 --> 00:05:57.560
00:05:57.979 --> 00:06:04.490
00:06:04.759 --> 00:06:09.469
00:06:09.469 --> 00:06:12.560
00:06:13.069 --> 00:06:21.949
00:06:22.939 --> 00:06:26.569
00:06:26.870 --> 00:06:33.289
00:06:33.769 --> 00:06:38.419
00:06:38.449 --> 00:06:41.359
00:06:41.750 --> 00:06:45.049
00:06:45.319 --> 00:06:55.240
00:06:55.509 --> 00:06:59.169
00:06:59.359 --> 00:07:17.509
00:07:17.779 --> 00:07:20.810
00:07:21.109 --> 00:07:31.909
00:07:32.000 --> 00:07:47.209
00:07:47.329 --> 00:07:49.399
00:07:49.639 --> 00:07:57.949
00:07:57.949 --> 00:07:59.419
00:07:59.419 --> 00:08:01.039
00:08:01.310 --> 00:08:05.060
00:08:05.060 --> 00:08:09.049
00:08:09.049 --> 00:08:11.839
00:08:12.919 --> 00:08:15.209
00:08:15.209 --> 00:08:25.669
00:08:25.879 --> 00:08:30.169
00:08:30.409 --> 00:08:33.409
00:08:33.409 --> 00:08:39.379
00:08:39.379 --> 00:08:43.399
00:08:43.820 --> 00:08:46.669
00:08:46.669 --> 00:08:48.769
00:08:49.279 --> 00:08:54.710
00:08:54.950 --> 00:08:59.720
00:08:59.840 --> 00:09:02.360
00:09:02.629 --> 00:09:03.980
00:09:03.980 --> 00:09:05.360
00:09:05.360 --> 00:09:08.649
00:09:08.850 --> 00:09:10.789
00:09:11.059 --> 00:09:11.659
00:09:11.659 --> 00:09:19.699
00:09:19.730 --> 00:09:29.600
00:09:29.990 --> 00:09:30.889
00:09:31.250 --> 00:09:33.289
00:09:34.049 --> 00:09:46.370
00:09:46.490 --> 00:09:49.279
00:09:49.699 --> 00:09:55.159
00:09:55.159 --> 00:09:57.649
00:09:58.639 --> 00:09:59.360
00:09:59.360 --> 00:10:09.470
00:10:09.829 --> 00:10:11.319
00:10:11.750 --> 00:10:23.210
00:10:23.509 --> 00:10:30.470
00:10:30.769 --> 00:10:42.049
00:10:42.470 --> 00:10:43.669
00:10:43.669 --> 00:10:51.980
00:10:52.159 --> 00:10:53.629
00:10:53.659 --> 00:10:54.829
00:10:54.829 --> 00:10:58.490
00:10:58.490 --> 00:11:05.029
00:11:05.419 --> 00:11:06.439
00:11:06.439 --> 00:11:09.019
00:11:09.889 --> 00:11:13.960
00:11:14.179 --> 00:11:18.889
00:11:18.919 --> 00:11:25.519
00:11:25.819 --> 00:11:30.409
00:11:30.919 --> 00:11:33.559
00:11:33.889 --> 00:11:41.720
00:11:42.169 --> 00:11:47.169
00:11:47.980 --> 00:11:56.389
00:11:56.569 --> 00:11:58.750
00:11:58.970 --> 00:12:00.710
00:12:00.740 --> 00:12:01.850
00:12:01.850 --> 00:12:04.759
00:12:05.000 --> 00:12:15.529
00:12:15.559 --> 00:12:16.970
00:12:17.120 --> 00:12:18.169
00:12:18.529 --> 00:12:19.879
00:12:19.879 --> 00:12:23.169
00:12:23.429 --> 00:12:25.600
00:12:26.000 --> 00:12:37.850
00:12:38.210 --> 00:12:40.909
00:12:41.240 --> 00:12:44.269
00:12:44.600 --> 00:12:52.579
00:12:52.759 --> 00:12:57.470
00:12:57.740 --> 00:13:02.659
00:13:03.110 --> 00:13:12.379
00:13:12.809 --> 00:13:14.629
00:13:14.629 --> 00:13:21.980
00:13:22.069 --> 00:13:31.389
00:13:31.730 --> 00:13:40.850
00:13:41.240 --> 00:13:46.460
00:13:47.269 --> 00:13:47.870
00:13:47.899 --> 00:13:50.569
00:13:50.600 --> 00:13:53.449
00:13:53.480 --> 00:13:56.220
00:13:56.220 --> 00:13:57.769
00:13:58.370 --> 00:14:05.870
00:14:06.199 --> 00:14:11.000
00:14:11.360 --> 00:14:24.110
00:14:24.470 --> 00:14:27.889
00:14:28.100 --> 00:14:30.730
00:14:31.149 --> 00:14:34.939
00:14:35.449 --> 00:14:37.759
00:14:38.480 --> 00:14:41.120
00:14:41.329 --> 00:14:51.539
00:14:52.079 --> 00:15:03.350
00:15:03.350 --> 00:15:13.259
00:15:13.629 --> 00:15:17.850
00:15:17.850 --> 00:15:28.039
00:15:28.039 --> 00:15:29.179
00:15:29.329 --> 00:15:44.059
00:15:44.329 --> 00:15:54.139
00:15:54.259 --> 00:16:00.590
00:16:00.590 --> 00:16:02.899
00:16:03.319 --> 00:16:06.199
00:16:06.439 --> 00:16:10.159
00:16:10.250 --> 00:16:17.870
00:16:18.259 --> 00:16:20.389
00:16:20.789 --> 00:16:22.970
00:16:23.779 --> 00:16:27.319
00:16:27.649 --> 00:16:32.100
00:16:32.120 --> 00:16:41.269
00:16:41.659 --> 00:16:44.899
00:16:45.199 --> 00:16:48.529
00:16:48.529 --> 00:16:56.569
00:16:56.840 --> 00:17:03.649
00:17:03.649 --> 00:17:06.950
00:17:07.130 --> 00:17:13.039
00:17:13.039 --> 00:17:30.559
00:17:30.559 --> 00:17:35.599
00:17:35.599 --> 00:17:37.670
00:17:37.970 --> 00:17:39.829
00:17:39.829 --> 00:17:47.389
00:17:48.529 --> 00:17:48.859
00:17:48.889 --> 00:17:57.289
00:17:57.609 --> 00:17:59.180
00:17:59.210 --> 00:18:13.660
00:18:13.950 --> 00:18:16.009
00:18:16.009 --> 00:18:17.539
00:18:17.720 --> 00:18:20.960
00:18:21.440 --> 00:18:26.450
00:18:26.509 --> 00:18:32.509
00:18:32.869 --> 00:18:46.059
00:18:46.150 --> 00:18:52.549
00:18:52.910 --> 00:18:58.660
00:18:59.049 --> 00:19:02.029
00:19:02.029 --> 00:19:09.889
00:19:10.509 --> 00:19:17.150
00:19:17.710 --> 00:19:30.259
00:19:30.769 --> 00:19:35.799
00:19:35.799 --> 00:19:41.990
00:19:41.990 --> 00:19:45.490
00:19:46.049 --> 00:19:48.740
00:19:48.980 --> 00:19:52.579
00:19:52.730 --> 00:19:54.079
00:19:56.442 --> 00:19:59.291
00:19:59.291 --> 00:20:04.152
00:20:04.362 --> 00:20:10.721
00:20:10.991 --> 00:20:16.902
00:20:17.142 --> 00:20:19.692
00:20:19.961 --> 00:20:24.102
00:20:24.461 --> 00:20:28.031
00:20:28.362 --> 00:20:32.771
00:20:33.102 --> 00:20:40.872
00:20:41.321 --> 00:20:42.581