While listening to a news commentator define “value,” it was said that price is what you pay, but value is what you receive.
Likewise, selling can be divided into two distinct categories, transactional and transitional. Transactional tends to be order-oriented and associated with commodity-type products. Transitional is driven by developing a long-term connection with clients. A key component is client retention, facilitating repeat opportunities and deepening the overall relationship.
Value is essential to maintain longer-term relationships. The strength of any relationship is a mutual commitment to trust and a belief in fairness creating win-win opportunities for all involved.
Transitional transactions promote client loyalty, and a commitment to improving ways of doing business focused on client success.
Clients who see at least part of their success to be driven from the value provided by a business relationship have a propensity to share that value with others driving business to those entities that provide the best value to their clients.
Delivery of high-touch services at the lowest price is not sustainable. Price without value may result in instant gratification but delivers no sustainable benefit or relationship. As a southeast Wisconsin community bank, National Exchange Bank & Trust is deeply rooted in core attributes which give us the ability to meet client expectations through transparency, communication, knowledge and trust; providing value through transitional transactions and long-term relationships.
At National Exchange Bank, we believe value begins with culture. Strong culture attracts talent, enhances employee retention, and creates empowerment to do the right thing. Our company culture supports our mission to provide high-value, competitive financial products and services and build strong customer relationships through genuine and committed employees.
We understand that reputations can be tarnished easily and lost quickly. Our reputation stands on our employees and the relationships with clients seeking certainty, sustainability and value.
Through building and maintaining a strong balance sheet, National Exchange Bank & Trust has been able to support clients in good as well as challenging times. By being financially strong, the Bank delivers on its commitments to employees and the communities in which we operate.
Price is arbitrary and value is fundamental. There are many factors that can affect price, but rarely do they impact value.
“Values carry the message of shared purposes, standards and conceptions of what is worth living for and what is worth striving for,” Anita Roddick, business woman, human rights activist, environmental campaigner and founder of The Body Shop, once said.
National Exchange Bank & Trust is your value-based partner.