How can you manage your reputation and mitigate risks in treasury services sales and marketing?

Be upfront with your customers, they will always respect honesty and it will keep your reputation intact. Know the customer and their personality, although honesty is important, it is just as important on how you relay information.

Assess the demands of your clients carefully and keep the channels of communication open. For example, customize your treasury services to include capabilities like real-time reporting if a client requests them.

When engaging with a customer always stay honest, understand customer's need first. Understanding customer's need and staying honest will built a trust in their mind, while dealing with customers its always important to build trust which will create a win-win situation for both.

Managing reputation and mitigating risks in treasury services sales and marketing is crucial for building trust with clients and maintaining a strong market position. Transparent communication and advance technology can be key strategy.

Never underestimate the power of questions when building a new client relationship. Eagerly go and ask probing questions to discover the prospective client's real needs and gain essential information about their needs, priorities, and challenges. Discuss several alternatives and ask what they feel would be the best solution for their challenges.

Reputation is all about trust and to earn that ethics and governance are the key elements. Be it your customer i.e. client or your clients’ client or your employees i. e your internal customer, ethical and legal approach with transparency goes a long way in helping mitigate reputation risks.

Respect industry rules and ethical principles. Tell stories of how your business continuously refrains from actions that might be lawful but are morally questionable, showing a dedication to supporting ethical principles.

Any realtionship management is built on trust and it takes a lot of commitment to build that trust. Its obviously vital to be honest in every which way. It is also really important to be true to yourself. Not to over commit or exagerate. Everyone can sense it except the person who is overcommiting. Listening to others and more importantly listening to yourself can make a big difference. Being aware of service level agreement (SLA) in your supporting teams, following right process and procedures, taking responsibility FPOC to serve your customer end to end can truly establish an ethical and legal framework between you and your customer.

Staying updated i.e keeping urself aware about the latest trends, regulations etc are equally important in today's era. Every employer and employee should all be aware about the ethical and legal guidelines, the code of conduct which is required as per the line of business. A single mistake or carelessness can cost you more.

Have a plan in place for handling potential online crises. Be prepared to address negative publicity swiftly and transparently to minimize the impact on the company's reputation.

Keep an eye out for comments and reviews on social media and other internet channels. If unfavourable remarks are made, address the issues with a timely and professional response. On your website and social media pages, emphasize gratifying customer experiences and success stories.

The financial services industry just like any other service industry requires high standards of operation.Building a reputable brand calls for high levels of professionallism and and a robust code of conduct across board. To mitigate risks a robust procedure framework must be in place.Working closely with regulatory bodies for policy conformance is mutually beneficial both to your clients and the Organisation.

Nowadays people use online platforms to spoil someone's reputation. These days goodwill is completely judged through online platforms. Eg.If someone wants to buy a product, the very first thing one will do is search for the product online and check for reviews. If the reviews are good we assume that the product is good but if there are many negative coments then it directly strikes our mind that something is wrong. So now in order to spoil someone's reputation the competitor would post something bad about the other company so that when people review they should get a wrong impact about the company. So its very necessary to always monitor our online platforms so that we can be quick enough to respond in such situations and maintain our image

In relationship management roles, which is a face to face and public role, it becomes important to be aware of social media usage, its implications and your organisation's policy to deal with it as per your role definition. As a relationship manager refrain from commenting or replying anything you are not authorised to. Try to keep calm even if you do not agree with anyone's sentiments about yourself or your role or your team or your organisation. Avoid indulging in any unsolicited conversations. Any one contacting you for a work related query direct them to contact you via official channels.

To make sure your sales and marketing professionals are knowledgeable about your products, the newest trends in the industry, and compliance requirements, provide them regular training. Their capacity to give customers reliable information is improved by this investment.

Create backup plans in case something goes wrong, such market changes or cybersecurity attacks. Tell a story that demonstrates how your group handled a difficult circumstance and your capacity for risk management.

Regularly monitor online reviews on platforms such as Google, Yelp, and industry-specific review sites. Address both positive and negative reviews promptly and professionally.

Relationship management is best when we go above and beyond everytime and all the time with no exceptions. May be not possible always to do all what we think we could do but as long as you know you made most of your time with your customer, listned well, supported them well and did justice to your role and your company. If you know that you did not tried to avoid difficult situation or conversation, you did not tried to pass on your responsibility and proactively lived end to end journey with your customer's pain point and can get on the phone again with customer with a confidence of being welcomed, you have done well.

To focus on transparent communication, thorough risk assessments, and compliance with industry regulations. Regularly update clients on market trends, ensure accurate information dissemination, and establish robust risk management protocols. Compliance with legal and ethical standards is crucial to building trust and safeguarding your reputation in the treasury services sector.