Frequently Asked Questions

“What does Haberfeld do?”

Haberfeld is focused on one primary objective – getting results. Our consulting, training, marketing, and profitability measurements have been developed to maximize results: (1) improved ROA; (2) better ROE, (3) enhanced net interest margin through a lower cost of funding, and (4)more core customers (retail and business) that are profitable. Over time, your financial institution’s retail portfolio will typically double. The main goal is to provide the best ROI possible for our clients.

“How soon will our financial institution see the results?”
You will begin to see the results immediately (within two weeks) at the launch of the first marketing cycle. Before the launch, our consulting and training teams work with your entire staff to make sure your products, policies, and sales processes are in place to not only capture the new prospective core customers Haberfeld’s marketing techniques drive into your offices but also deepen the relationships with each customer by cross-selling more products and services. There is no “ramp-up” period.

“What kind of core customers (retail and business) does Haberfeld attract?”
Your offices are strategically placed within your markets, and obviously cannot be moved. Our data indicates that customers still choose their primary financial institution based on convenience regarding some aspect of their lives – where they work, live, go to school, etc. Therefore, we help you attract customers that are very similar to the ones you already have. Our clients’ average customer household generates over $300 in revenue every year and remains a customer for over 8 years.

“Are the results sustainable?”
Yes, the results are very sustainable. We have clients who have been getting outstanding results for over 20 years.

“Does the Haberfeld strategy impact attrition?”
Attrition is typically front loaded. When a financial institution’s account openings double, there is often a slight increase in attrition rates. With our onboarding recommendations, this, however, stabilizes quickly with attrition rates often normalizing or decreasing slightly.

“Does the Haberfeld strategy convince prospective customers to switch?”
Over the 34+ years of analyzing the data from our clients, we have learned something profound: We cannot convince anyone to switch primary financial institutions. It’s too difficult to switch with Bill Pay, ACHs, direct deposit, checks floating around as well as the time it takes to move. However, we have learned precisely how to get prospective core customers that are ready to switch to choose our clients over other financial institutions. Approximately 70% of people that switch do so because they are mad at their current financial institution. In addition, our research shows that there is a specific pattern that predicts when consumers and business are most likely to switch financial institutions. Our marketing efforts are timed to maximize these patterns for our clients.

“What is the cost of a Haberfeld partnership?”
Many factors are involved in the cost of a partnership, including your market opportunity, competitive environment, household and business counts, and current opening/closing rates. To receive a custom Market Opportunity Analysis Projection, please contact us at to get started. There’s no obligation associated with receiving your custommized projection.

“What can the results be for my financial institution?”
We can significantly help most financial institutions increase profitable customer openings, but the projected results are different for every financial institution because every organization has unique opportunities and challenges. To learn more about the results we can deliver for your institution, please contact us at

“We already have a Marketing Department. Why do we need Haberfeld?”
Haberfeld is much more than marketing. We have a consulting team, training team, account executive team, graphic design team, and data analysis team to assist our clients as a true partner. We view consulting and training equally as important as the marketing initiatives we deliver in partnership with your marketing team.. We do not replace your marketing team. In fact, our clients will tell you that we work alongside your marketing team to deliver the best ROI-focused results.

“We already have a Training Department. Why do we need Haberfeld?”
Similar to our marketing efforts working in partnership with your marketing department, we also craft our training efforts to work in partnership with your financial institution’s training team. We develop training materials in cooperation with your training department, and our consultants regularly present jointly with your training team members.

“Do we keep our brand and community identity with a partnership?”
Yes, unlike other companies that market their brand, Haberfeld Associates uses your branding in all marketing materials. Our marketing initiatives help your financial institution build its brand and franchise value.

“Do you make product recommendations?”
Our data indicates that product is very important to core customer acquisition. We make product recommendations to maximize openings, but we do not rely on product to get the results. Why? Competitors can quickly and easily copy products. Also, we are not compensated by our clients’ opening a certain product – we simply make recommendations based on our data analysis to maximize the return on your investment.

“Are you in the business of opening accounts?”
No, we are not interested in opening accounts. We are interested in maximizing core customers and then optimizing each relationship. Our clients’ average customer household has 5.2 products/services and stays for over 8 years. We view the checking account as the foundation of this relationship. Deposits are the emotional connection the customer has to the financial institution. By becoming the primary financial institution, you gain first right of refusal for other relationships, such as loan opportunities.

“Do you work with a long-term contract?”
No, Haberfeld does not lock our clients in with a long-term contract. We believe we must earn the right to continue doing business with our clients by delivering measurable and meaningful results.

“Does Haberfeld work with us beyond the launch?” Absolutely, we are a true partner that walks alongside you through the entire process. As a client, you will receive a dedicated account executive, consultant, data analyst, and graphic artist. We have seven on-site engagements with a new client in the first year of the partnership – four of which are training engagements.In subsequent years, your Haberfeld consultant will work with your team to develop a customized training and measurement plan for your institution.

“We have a unique culture in our financial institution. Will a partnership disrupt this?”
No, our team spends a significant amount of time learning about your financial institution’s culture so that we can integrate our processes into your organization. Our clients will tell you that our consulting and training provides clarity in sales culture and processes. If you do not have a functional sales culture, we will help guide you toward one that will pay dividends. If you have a functional sales culture, we will integrate our processes into your financial institution’s existing strategy.

“Will you give us references to visit with?”
Absolutely, our references are the ones that sell what we do, not us. We would love to give you references to visit with and have many to provide. However, we do very much value our references’ time, so we typically provide references after we have presented you with our entire strategy and you have serious interest in becoming a client. As a client, we would value your time and do the same for you. Just like you, our references have busy schedules and many projects to balance at any given time.

“How long does it take to launch after starting a partnership?”
It typically takes 120 days to go “live” with our Strategy. First we learn about your culture, conduct consulting, and implement training with your entire staff. Approximately 120 days from partnering, we launch the first marketing cycle, at which time you will begin to see the results. Sometimes we can launch sooner – for more details please contact us at

“I want to learn about Haberfeld. Where do I start?”
The best way to learn about Haberfeld is through a robust conversation. Your opportunities and challenges are unique, and you have specific strategic goals and initiatives. Also, all of our decisions and processes are based on in-depth data analysis. As we unpack why we do what we do, you will certainly have questions. By visiting with one of our senior executives, we can answer your questions and provide insight into what opportunities we see for your financial institution. Get started by contacting us at or calling us at 402-474-1191.

“Why do you recommend ___?”
If you’ve visited with us before, you most likely have questions about why we recommend a specific decision or process. The short answer is – they get results! We would love to clarify this with you in more detail. Please contact us with your question(s) so we can provide you with the answer(s). Get started by contacting us at or calling us at 402-474-1191.