Insights Thought Leadership

The Role of Book of Business in Improving Acquisition and Expansion

Book of Business


Omnichannel, Predictive Analytics, Digital Listening

In this new Omni ecosystem, the role of the banker transitioned from primarily transactional to expanded customer care through meeting immediate and long-term needs. Book of business enhances customer care by maintaining staff accountability for customer relationships. Along with contact names, it provides bankers with historical information and key details, including entity decision makers. It creates a list of referral partners, banker-sourced centers of influence, and community partners, measuring quantity and quality of deals sent, and identifying the most productive sources.

Book of business includes:

  1. Customers - Consumers, both business and personal, assigned by the bank for the banker to manage from a relationship standpoint;
  2. Prospects - Banker sourced consumers, both personal and business, that have not yet become account-holding customers;
  3. Contacts - List of business customer key contacts or banker-identified contacts associated with personal customers;
  4. Centers of Influence - External individuals and businesses such as lawyers, accountants, and estate planners who refer business from their sphere of influence. A Customer Data Platforms (CDP) can track the centers of influence referral volume and success rate to identify the most productive;
  5. Referral Partners - Internal bank referral sources that a CDP tracks for the number of referrals, close rate, and dollar value volume to provide the best internal points of contact; and
  6. Community Partners - Community organizations, clubs, or associations to which a banker belongs and may pay membership fees. A CDP solution tracks opportunities originating from meetings or events with these partners for close rate and dollar volume against the annual expense to determine the most valuable relationships.

For more information, download the "Creating New Digital Revenue Streams through Customer Acquisition and Relationship Expansion" interview with David Engebos, President and COO of ARGO.

Download ARGO's interview with David Engebos