While waiting for my speaking slot at a bank's nationwide leadership meeting recently, I was able to listen in as groups broke off to discuss various business development best practices.
The groups were given real-life scenarios, asked to brainstorm and then to share their suggested actions.
One of the "action steps" I heard multiple times put a smile on my face. Over the years, I've often felt like I was on a quixotic quest promoting the practice of handing out business cards.
While I pay close attention to reactions and responses throughout a presentation, I tend to tune-in a bit more when making the case for the humble business card. I'm sure some folks begin wondering if I'll also be touting VHS tapes and PalmPilots.
Interestingly, veteran bankers often smile, perhaps due to a sense of familiarity with what they hear. It might also be an affirmation of their experience, or possibly a comforting realization that some old-school best practices remain relevant in a digital-first banking world.
Younger folks sometimes smile like they've wandered into an etiquette class. Surely this must be an ancient ritual of our forefathers! Maybe next I'll sing the praises of the passbook savings account. (Just kidding. They have no idea what those were.)
After I'd made what I believed to be a compelling case for my then 21-year-old (new banker) son to go out of his way to give folks his business card, he smiled and said, "Okay, Boomer. Gotcha."
Fast-forward a few months later, now in his first retail banking job, he sheepishly admitted that handing out business cards did seem to lead to repeat visits and more accounts. I was more impressed that he admitted it than I was insulted that he hadn't believed me before.
I do understand why a practice that's been around for literally hundreds of years would seem to be too archaic for modern business. We live in a world in which folks have the entirety of the world's information in the palms of their hands.
We have some of the most advanced tools for capturing, cataloging, storing and sharing data in the history of the planet on our phones.
In presentations, I frequently ask out loud the question many are thinking: How could something as primitive as a small piece of card stock be a powerful marketing tool in such a high-tech world?
I then suggest that, for all intents and purposes, everyone we meet has all financial institutions' contact information on their phones. It's the ultimate Rolodex. (And yes, I often then need to explain the Rolodex reference to some.)
In an often-complex industry, it's frequently simple and smart business practices that stand out.
What most people do not have in their wallets or handbags or on their desks at home is a banker's business card. Beyond that, it's quite likely they do not even know a banker at their primary bank by name.
They haven't had a banker personally offer to help them with any financial questions or needs they may have in ages, if ever.
I stress that the card in and of itself is not what makes the impression. The impression is the personal interaction — the eye contact, the smiles, the handshakes, the empathetic questions, the helpful answers and the offer of further assistance.
Now, can a banker provide these things without a business card? Absolutely. But there is something about the actual practice of handing a person your business card that encourages and reinforces those best practices.
For the more cynical "marketing theory" disciples in audiences, I offer a few other points.
Business cards provide a tactile experience that digital forms of communication do not replicate. They offer a tangible reminder of a discussion, which can be far more memorable.
Handing out a business card adds a personal touch to a business interaction, as well. It encourages one-on-one conversations and an exchange of details in a more personal manner, helping to establish stronger business relationships.
And the tradition of handing out business cards projects a sense of professionalism and preparedness. Having a business card ready shows that you take your work seriously and are always prepared to establish new connections.
Maybe most importantly, business cards are personal. You aren't handing someone an ad for a bank. You are providing them with the personal contact information of a living, breathing banker.
Technology will not tilt the playing field in banking as much as it will level it. It is table stakes to compete in the game, but it will not meaningfully differentiate one bank from another over time.
The last true differentiators banks have are their people and their abilities to create and deepen human connections.
Any simple practice that promotes increased personal discussions between our bankers and (existing and potential) customers is one worth actively promoting and supporting.
