A sales challenge just in from one of our clients…
I have a PROSPECT that is close to closing the deal with me. They have around $3 million and as an enticement to come over to me I offered to give them a savings account rate of .75% for their savings. That is well above our bank rate sheet(.50%).
We would actually be losing money on that deal.
We will do it to get me their investment business. They are pushing back on me a little bit and have moved the money into the savings (to take advantage of the higher rate) but they have NOT moved their personal investments to me yet, which was a condition of the higher rate. Should I put a deadline on them that if they don’t get with me to open their accounts soon I will lower the rate on the savings?