1.
February 6, 2020
Improving the Small Business Banking
Experience

2.
INCREASING SALES TO SMBS
2

3.
Output
INSIGHT
Topics Methods
• Qualitative
• Live / online focus groups
• In-depth interviews
• Quantitative
• Custom online
• SMB Pulse omnibus
• Snap Poll
Insight for CE / product /
marketing strategy
Data for PR / content / social /
collateral programs
3
• Attitudes and usage
• Buyer identification
• Competitive perceptions
• Market segmentation
• Media behaviors / preferences
• Message / positioning testing
• Net promoter score
• Persona / buyer journey
• Purchase intent, behaviors,
channels and preferences

4.
OUTREACH
Video
Email
Newsletters
Checklists /
Worksheets
Case StudiesArticles Blog Posts
White Papers
Podcasts
eBooks
PR Surveys
Social Media
Handbooks /
Guides
Webcasts
Slideshows
Infographics
Interactive
Tools
• Survey data
• Creative brief
• Editorial calendar
• Content development
• Content audit
• Analytics
Contribution
• Expert
• Actionable
• Relevant
• Easy to understand
• Professional
• Brand-building
• Custom
Principles
Direct Mail
Event
Collateral
Brochures /
Sell Sheets
Custom Pubs
4

5.
Understand the small
business banking
experience Industry trust
Bank relationship attributes Alt lender awareness,
trust and usage
The role of apps,
events and content
1 2
3 4 5
Bank awareness and trust
5
WHAT WE’LL COVER

6.
6
METHODOLOGY
Online survey via the Bredin.com/SMBPulse
500 SMB principals at U.S. companies with <500 employees (+/- 4% CI)
Company Size Quotas
250 VSBs (<20 employees)
150 SBs (20-99 employees)
100 MBs (100-500 employees)
November 1-7, 2019WHEN
HOW
WHO
% Indicates highest % in a given column
(A) / (B) / (C) Indicates statistically significant difference between columns
Note: The SMB Pulse is open to marketer participation.
Some charts in this deck do not total to 100% due to rounding.
Weighting By Revenue
<$500,000: 260n (83.4%)
$500,000 to $999,999: 65n (5.4%)
$1,000,000 to $4,999,999: 101n (5.2%)
$5,000,000+: 74n (2.1%)

7.
7
RESPONDENT CHARACTERISTICS
Principal (e.g.,
Owner,
Founder,
Partner, CEO,
President, etc.)
100
%
Male
Female
57%
43%
6%
23%
29%
38%
4%
Gen Z (18 to 22)
Millennials (23 to 38)
Gen X (39 to 54)
Boomers (55 to 73)
Silent Generation (74+)
Respondent Age Company Age Business Outlook
Title / Role Company Size Gender
50%
30%
20%
VSBs
(<20)
SBs
(20-99)
MBs
(100-500)
n=500
5%
33%
29%
33%
Less than 2 years
2-9 years
10-19 years
20 years or more
10%
37%
23%
25%
4%
Up more than 100%
Up 10% to 100%
Up less than 10%
Same as 2018
Down compared to 2018

8.
8
RESPONDENT CHARACTERISTICS
West
27%
South
37%
Midwest
17%
Northeast
19%
n=500
Geography
36%
48%
16%
Population Density
Urban
Suburban
Rural 27%
15%
10%
13%
20%
8%
7%
Less than $100K
$100K to $249K
$250K to $499K
$500K to $999K
$1M to $4.9M
$5M to $10M
More than $10M
Company Revenue
40%
26%
21%
14%
Manufacturing
Construction/Mining/Contracting/
Electrical/Landscape/Plumbing/etc.
10%
Manufacturing/Transportation and
Warehousing
5%
Automotive 2%
Computer Hardware/Electronic
Equipment
2%
Pharmaceutical/Medical
Devices/Biotechnology
1%
Telecommunications 1%
Energy/Utilities 0%
Other
Personal Services 9%
Education/Training 5%
Industry
Professional Services
Financial
Services/Accounting/Bookkeeping
7%
Computer Software/Internet 7%
Medical 6%
Advertising/Consulting/Design/Ma
rketing Services
5%
Legal 5%
Banking/Insurance/Mortgage 4%
Computer Services/Consulting 3%
Publishing/Printing/Media 2%
Architect/Engineering 1%
Retail/Wholesale
Retail 12%
Entertainment/Recreation 4%
Real Estate 4%
Food/Beverage/Restaurants 3%
Wholesale 2%
Travel/Hotel/Hospitality 1%

9.
DETAILED FINDINGS

10.
On a scale of 1 (do not trust at all) to 5 (trust very much), please rate your trust in each of these industries:
INDUSTRY TRUST
SMBs trust their CPA more than any other kind of vendor…
5 (Trust very much) 4
n=500 RANDOMIZED10
33%
18%
18%
23%
16%
14%
14%
16%
14%
15%
14%
14%
12%
25%
37%
37%
31%
35%
31%
30%
27%
28%
26%
27%
25%
26%
58%
55%
54%
54%
52%
46%
43%
43%
42%
41%
41%
40%
38%
Your CPA
Local / community banks
Package delivery companies
Credit unions
Office supply stores / print centers
Other small businesses
Technology hardware manufacturers
Cellphone manufacturers
Hotels / hotel chains
National / regional banks
Airlines
Wireless service providers
Internet access providers / website hosts
𝚺

11.
On a scale of 1 (do not trust at all) to 5 (trust very much), please rate your trust in each of these industries:
INDUSTRY TRUST (CONTINUED)
…and trust social media companies and alternative lenders least
5 (Trust very much) 4
n=500 RANDOMIZED11
15%
13%
12%
14%
14%
12%
13%
11%
11%
10%
11%
10%
10%
23%
24%
23%
20%
19%
20%
19%
21%
20%
17%
16%
12%
12%
38%
37%
36%
34%
33%
33%
32%
32%
31%
27%
26%
22%
22%
Payroll service providers
Credit card companies
Local / long distance phone company
Software companies
Local technology solution providers
Rental car companies
Retirement plan providers
Mutual fund companies
Insurance companies
Employee recruiting services / job sites
Marketing services
Social media companies
Alternative / online lenders
𝚺

12.
On a scale of 1 (do not trust at all) to 5 (trust very much), please rate your trust in each of these industries:
INDUSTRY TRUST: REVENUE
In general, trust increases with company size…
n=500 RANDOMIZED12
58%
55%
54%
54%
52%
46%
43%
43%
42%
41%
41%
40%
38%
Your CPA
Local / community banks
Package delivery companies
Credit unions
Office supply stores / print centers
Other small businesses
Technology hardware manufacturers
Cellphone manufacturers
Hotels / hotel chains
National / regional banks
Airlines
Wireless service providers
Internet access providers / website hosts
Trust = 5 + 4
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
56% 65% 73% (A) 80% (AB)
54% 54% 72% (AB) 69% (A)
53% 62% 71% (A) 62%
53% 52% 61% 66%
50% 57% 69% (A) 62%
44% 52% 55% 61% (A)
41% 49% 68% (ABD) 50%
41% 51% 62% (A) 50%
40% 51% 65% (A) 61% (A)
39% 52% (A) 65% (AD) 49%
38% 60% (A) 58% (A) 53% (A)
37% 54% (A) 57% (A) 58% (A)
36% 48% 62% (A) 49% (A)
56% 65% 73% (A) 80% (AB)

13.
On a scale of 1 (do not trust at all) to 5 (trust very much), please rate your trust in each of these industries:
INDUSTRY TRUST: REVENUE (CONTINUED)
…although in many cases the $1M to $4.9M segment is the most trusting
n=500 RANDOMIZED13
38%
37%
36%
34%
33%
33%
32%
32%
31%
27%
26%
22%
22%
Payroll service providers
Credit card companies
Local / long distance phone company
Software companies
Local technology solution providers
Rental car companies
Retirement plan providers
Mutual fund companies
Insurance companies
Employee recruiting services / job sites
Marketing services
Social media companies
Alternative / online lenders
Trust = 5 + 4
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
35% 46% 66% (AB) 68% (AB)
35% 46% 60% (A) 50% (A)
34% 43% 54% (A) 47% (A)
32% 51% (A) 57% (A) 51% (A)
30% 46% (A) 56% (A) 53% (A)
31% 42% 52% (A) 45% (A)
28% 57% (A) 61% (A) 64% (A)
28% 54% (A) 56% (A) 64% (A)
28% 48% (A) 50% (A) 51% (A)
25% 40% (A) 48% (A) 49% (A)
25% 34% 46% (A) 35%
20% 31% 38% (A) 32% (A)
20% 37% (A) 38% (A) 39% (A)

14.
Which of these is your primary business bank?
Bank of America has the largest market share…
n=500 RANDOMIZED
14
22%
14%
10%
4%
4%
3%
2%
2%
2%
2%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
25%
Bank of America
Chase Bank
Wells Fargo
Capital One
U.S. Bank
PNC Bank
Bank of the West
New York Community Bank
TD Bank
BBVA Compass Bank
SunTrust Bank
M&T Bank
Key Bank
Citibank
Huntington Bank
Regions Bank
Citizens Bank
BB&T
Fifth Third Bank
Santander Bank
Another bank
PRIMARY BUSINESS BANK

15.
Please rate your awareness of (or familiarity with) each of these banks:
BANK AWARENESS
…and Wells Fargo has the highest awareness
Very aware Somewhat aware
n=500 RANDOMIZED15
53%
53%
53%
46%
43%
28%
22%
21%
16%
21%
22%
18%
21%
18%
16%
17%
18%
13%
14%
16%
14%
14%
13%
12%
11%
9%
11%
40%
40%
39%
43%
46%
40%
43%
43%
44%
38%
35%
34%
29%
27%
27%
24%
24%
27%
26%
20%
23%
22%
22%
21%
18%
19%
16%
93%
93%
92%
89%
89%
68%
65%
64%
61%
60%
57%
52%
50%
45%
43%
42%
42%
39%
39%
37%
37%
36%
36%
32%
29%
28%
26%
Wells Fargo
Bank of America
Chase Bank
Capital One
Citibank
U.S. Bank
PNC Bank
SunTrust Bank
HSBC Bank
Citizens Bank
TD Bank
Fifth Third Bank
BB&T
Regions Bank
Bank of the West
Union Bank
KeyBank
Huntington Bank
Santander Bank
M&T Bank
First Republic Bank
BBVA Compass Bank
Comerica
BMO
Silicon Valley Bank
New York Community Bank
People’s United Bank
𝚺

16.
BANK TRUST
Chase is the most trusted bank
Trust very much Trust somewhat
n=varies RANDOMIZED16
30%
24%
28%
32%
27%
26%
26%
23%
23%
19%
31%
27%
25%
25%
26%
25%
26%
20%
21%
19%
24%
23%
18%
19%
24%
25%
20%
43%
48%
43%
39%
43%
44%
40%
41%
41%
44%
31%
35%
36%
36%
35%
35%
34%
40%
38%
40%
33%
33%
37%
36%
30%
29%
27%
73%
72%
71%
71%
71%
69%
66%
64%
63%
63%
63%
62%
61%
61%
61%
60%
60%
60%
59%
58%
57%
56%
55%
55%
54%
53%
47%
Chase Bank (n=461)
People’s United Bank (n=132)
Santander Bank (n=195)
Capital One (n=445)
New York Community Bank (n=141)
Citibank (n=444)
U.S. Bank (n=340)
Regions Bank (n=225)
First Republic Bank (n=183)
M&T Bank (n=184)
Silicon Valley Bank (n=145)
BBVA Compass Bank (n=180)
BB&T (n=250)
Bank of the West (n=214)
TD Bank (n=283)
BMO (n=162)
Bank of America (n=464)
Comerica (n=178)
Citizens Bank (n=298)
KeyBank (n=209)
Union Bank (n=210)
Fifth Third Bank (n=262)
HSBC Bank (n=303)
PNC Bank (n=327)
Huntington Bank (n=197)
SunTrust Bank (n=319)
Wells Fargo (n=466)
𝚺
Please rate your trust in each of these banks:

17.
BANK AWARENESS VS. TRUST
Awareness and trust are generally inversely correlated
17
Bank of America
Bank of the West
BB&TBBVA Compass Bank
BMO
Capital One
Chase Bank
Citibank
Citizens Bank
Comerica
Fifth Third Bank
First Republic Bank
HSBC Bank
Huntington Bank
KeyBank
M&T Bank
New York Community Bank
People’s United Bank
PNC Bank
Regions Bank
Santander Bank
Silicon Valley Bank
SunTrust Bank
TD Bank
U.S. Bank
Union Bank
Wells Fargo
40%
50%
60%
70%
80%
20% 30% 40% 50% 60% 70% 80% 90% 100%
Trustverymuch/somewhat
(ifsomewhat/veryaware)
Awareness very/somewhat

18.
Please select all the words that you would use to describe your bank:
Respondents are most likely to describe their bank as ‘convenient’
n=500 RANDOMIZED18
55%
51%
50%
47%
45%
44%
41%
29%
22%
22%
20%
19%
Convenient
Reliable
Friendly / approachable
Trustworthy
Helpful
Secure
Local
Cares for me / my business
Progressive
Committed to the community
Innovative
Conservative
WORDS TO DESCRIBE YOUR BANK
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
57% 40% 50% 47%
51% 38% 53% 55%
51% (BD) 37% 50% (D) 32%
47% 42% 51% 47%
46% (B) 26% 45% (B) 36%
43% 43% 53% 43%
43% (BCD) 26% 31% 26%
29% 22% 38% (B) 28%
22% 14% 25% 24%
22% 15% 24% 19%
20% 20% 25% 22%
19% 14% 20% 28% (B)
57% (B)
43%
55% (B)53%
53%

19.
Do you plan to stay as a customer of your bank for the next five years?
Nine in ten respondents plan to stay with their bank for the next five years
n=50019
RETENTION OUTLOOK
90% 10%Plan to
remain
Plan to
switch

20.
Please select the top three reasons you plan to remain a customer at your bank:
‘Good customer service’ is the leading driver of satisfaction
n=452 RANDOMIZED; IF PLANNING ON REMAINING AT THEIR BANK20
45%
36%
31%
29%
27%
21%
21%
18%
13%
13%
11%
6%
4%
2%
Good customer service
Convenient location(s)
Low rates / fees
Good online banking
Reliable / rarely or never makes mistakes
Easier to remain a customer than change banks
Convenient hours
Offers a wide range of products / services
Access to / relationship with a business banker
Good mobile banking app
Offers good online business / financial
management advice
Fast credit / loan approval
Supports local charities / organizations
Other
LOYALTY DRIVERS
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
46% 38% 42% 36%
37% (D) 25% 34% (D) 15%
31% 23% 36% 35%
30% 27% 19% 27%
27% 20% 29% 36% (B)
22% (B) 11% 13% 18%
20% 29% 26% 17%
18% 16% 22% 24%
12% 18% 22% (A) 20%
11% 29% (AC) 15% 17%
11% 11% 8% 9%
6% 5% 13% (A) 12%
3% 11% (A) 6% 17% (AC)
2% 0% 1% 2%
36%
36% (B)
42%38%46%

21.
‘Rates and fees’ are the biggest driver of dissatisfaction
n=48 RANDOMIZED IF PLANNING ON LEAVING THEIR BANK WITHIN THE NEXT 5 YEARS21
54%
34%
34%
29%
22%
19%
13%
12%
12%
12%
9%
7%
Lower rates and fees
Offer / improve business / financial management
advice
Open a more convenient location
Open longer hours
Add new products / services
Improve customer service
Better access to a business banker
Improve online banking
Faster credit / loan approval
Support local charities / organizations
Improve mobile banking app
Other
INCREASING RETENTION
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
54% 33% 75% 50%
38% 11% 25% 13%
38% 11% 8% 38%
33% (C) 11% 0% 0%
21% 22% 33% 25%
21% 11% 8% 25%
13% 0% 33% 25%
13% 11% 8% 0%
8% 33% 25% 25%
13% 11% 0% 13%
8% 11% 17% 13%
4% 44% (AC) 0% 0%44% (AC)
50%75%54%
Please select the top three things your bank could do to increase the likelihood of you
remaining a customer:

22.
On a scale of 1 (not at all likely) to 10 (extremely likely), how likely are you to recommend [vendor] to a friend or
colleague?
NET PROMOTER SCORE
22 Source: Retently
NPS equals Promoters (∑10s+9s) minus Detractors (∑<7s)
NEEDS IMPROVEMENT GOOD GREAT EXCELLENT
-100 1000 30 70

23.
On a scale of 1 (not at all likely) to 10 (extremely likely), how likely are you to recommend [vendor] to a friend or
colleague?
INDUSTRY NPS
23 Source: Retently
NEEDS IMPROVEMENT GOOD GREAT EXCELLENT
-100 1000 30 70
Department/Specialty stores
Tablet Computers
Brokerage/Investments
Online Entertainment
Online Shopping
Airlines
Smartphones
Auto Insurance
Laptop Computers
Hotels
Grocery/Supermarket
Credit Cards
Home/Contents Insurance
Shipping Services
Cell Phone ServiceBanking
Software & Apps
Life Insurance
Drug Stores/Pharmacies
Travel Websites
Health Insurance
Cable/Satellite TV
Internet Service

24.
On a scale of 1 (not at all likely) to 10 (extremely likely), how likely are you to recommend your bank to a friend or
colleague?
In aggregate, SMBs give the banking industry a good NPS
n=50024
34%
18%
13%
10%
9%
5%
3%
3%
2%
3%
10 (extremely likely)
9
8
7
6
5
4
3
2
1 (not at all likely)
BANKING INDUSTRY NPS
51% Promoters
22% Passives
26% Detractors
NPS = 25

25.
On a scale of 1 (not at all likely) to 10 (extremely likely), how likely are you to recommend your bank to a friend or
colleague?
U.S. Bank has the highest NPS
(Minimum sample size of 10 customers)25
INDIVIDUAL INDUSTRY NPS
53%
50%
30%
40%
37%
24%
20%
32%
20%
25%
20%
24%
16%
27%
27%
13%
13%
20%
11%
26%
16%
7%
20%
7%
30%
5%
5%
13%
27%
5%
7%
5%
11%
11%
7%
7%
17%
4%
4%
7%
5%
2%
1%
7%
2%
1%
4%
3%
5%
7%
2%
8%
3%
1%
5%
67
50
50
45
37
31
27
14
U.S. Bank (n=15)
TD Bank (n=12)
Citibank (n=10)
Bank of America (n=129)
Capital One (n=19)
Chase Bank (n=70)
PNC Bank (n=15)
Wells Fargo (n=56)
GreatGood
Promoters
(9 or 10)
Passives
(7 or 8)
Detractors
(1 to 6)

26.
Please rate the importance of each of these aspects of dealing with your primary business bank:
BANK RELATIONSHIP ATTRIBUTES
‘Keeps my money secure’ and ‘low rates / fees’ are most important to SMBs
Extremely important Very Important
n=500 RANDOMIZED26
58%
46%
38%
35%
39%
26%
21%
18%
22%
18%
20%
21%
20%
18%
23%
16%
18%
17%
12%
11%
22%
30%
32%
31%
28%
29%
33%
29%
24%
28%
26%
23%
23%
25%
19%
26%
23%
22%
25%
15%
81%
76%
70%
66%
66%
55%
54%
47%
46%
46%
45%
45%
44%
43%
42%
42%
41%
39%
37%
26%
Keeps my money secure
Low rates / fees
Customer service / quick problem resolution
Convenience / location of bank branches
Online banking
Phone support
Understands the needs of my business
Services tailored to businesses of my size
Large ATM network
Committed to my community
Services tailored to my industry
Branches open long hours
Quick approval of loan requests
Innovative
Mobile banking app
Easy loan application process
Large branch network
Access to a business banker
Broad product line
Online advice (articles and tips)
𝚺

27.
Please rate the importance of each of these aspects of dealing with your primary business bank:
BANK RELATIONSHIP ATTRIBUTES: REVENUE
‘Keeps my money secure’ is the most important attribute of the banking relationship
Extremely/very important
n=500 RANDOMIZED27
81%
76%
70%
66%
66%
55%
54%
47%
46%
46%
45%
45%
44%
43%
42%
42%
41%
39%
37%
26%
Keeps my money secure
Low rates / fees
Customer service / quick problem resolution
Convenience / location of bank branches
Online banking
Phone support
Understands the needs of my business
Services tailored to businesses of my size
Large ATM network
Committed to my community
Services tailored to my industry
Branches open long hours
Quick approval of loan requests
Innovative
Mobile banking app
Easy loan application process
Large branch network
Access to a business banker
Broad product line
Online advice (articles and tips)
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
81% 80% 80% 80%
77% 68% 78% 78%
69% 72% 78% 74%
67% 65% 67% 64%
66% 68% 68% 78% (A)
54% 60% 68% (A) 62%
52% 55% 69% (A) 61%
45% 54% 67% (A) 54%
45% 54% 55% 50%
45% 51% 59% (A) 49%
44% 54% 59% (A) 54%
43% 49% 56% (A) 53%
42% 54% 62% (A) 55% (A)
41% 49% 65% (AB) 65% (A)
40% 55% (A) 51% 53%
39% 58% (A) 66% (A) 55% (A)
39% 58% (A) 58% (A) 54% (A)
37% 48% 61% (A) 61% (A)
35% 48% 52% (A) 55% (A)
25% 35% 40% (A) 36% (A)
81% 80% 80%80%

28.
Please rate please rate how well your bank performs on each of these aspects:
BANK PERFORMANCE
Banks do best at keeping money secure…
Extremely well Very well
n=500 RANDOMIZED28
39%
38%
33%
27%
24%
25%
26%
29%
18%
17%
22%
19%
19%
20%
20%
19%
15%
16%
16%
15%
35%
28%
31%
34%
35%
32%
28%
23%
31%
32%
27%
29%
29%
27%
25%
24%
26%
24%
23%
20%
73%
66%
64%
61%
59%
56%
54%
53%
49%
49%
49%
48%
47%
47%
45%
43%
41%
41%
39%
35%
Keeps my money secure
Online banking
Convenience / location of nearby bank branches
Customer service / quick problem resolution
Phone support
Large ATM network
Large branch network
Mobile banking app
Broad product line
Innovative
Low rates / fees
Branches open long hours
Committed to my community
Services tailored to businesses of my size
Access to a business banker
Understands the needs of my business
Quick approval of loan requests
Services tailored to my industry
Easy loan application process
Online advice (articles and tips)
𝚺

29.
…but for SBOs with $500K-$1M, banks do best on online banking
Extremely/very well
n=500 RANDOMIZED29
73%
66%
64%
61%
59%
56%
54%
53%
49%
49%
49%
48%
47%
47%
45%
43%
41%
41%
39%
35%
Keeps my money secure
Online banking
Convenience / location of nearby bank branches
Customer service / quick problem resolution
Phone support
Large ATM network
Large branch network
Mobile banking app
Broad product line
Innovative
Low rates / fees
Branches open long hours
Committed to my community
Services tailored to businesses of my size
Access to a business banker
Understands the needs of my business
Quick approval of loan requests
Services tailored to my industry
Easy loan application process
Online advice (articles and tips)
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
73% 62% 86% (AB) 77% (B)
65% 69% 81% (A) 77% (A)
63% 66% 71% 64%
60% 60% 78% (ABD) 62%
57% 66% 74% (A) 61%
55% 57% 68% (A) 61%
53% 65% 67% (A) 62%
51% 63% 69% (A) 59%
47% 57% 74% (ABD) 59%
47% 51% 69% (AB) 62% (A)
47% 52% 61% (A) 66% (A)
45% 65% (A) 68% (A) 59% (A)
45% 54% 68% (AD) 53%
45% 48% 67% (AB) 55%
42% 48% 76% (AB) 66% (AB)
40% 51% 69% (AB) 57% (A)
38% 49% 66% (AB) 62% (A)
39% 38% 67% (AB) 55% (AB)
36% 43% 66% (AB) 64% (AB)
33% 43% 53% (A) 53% (A)
Please rate please rate how well your bank performs on each of these aspects:
BANK PERFORMANCE: REVENUE
73%
69%
86% (AB) 77% (B)
77% (A)

30.
IMPORTANCE VS. PERFORMANCE
Banks most overperform on branch network, and least on rates and fees
30
Access to a business banker
Branches open long hours
Broad product line
Committed to my community
Convenience / location of
bank branches
Customer service / quick
problem resolution
Understands the needs of my
business
Easy loan
application process
Innovative
Keeps my money
secure
Large ATM network
Large branch network
Low rates /
fees
Mobile banking app
Online advice
(articles and tips)
Online banking
Phone support
Services tailored to businesses
of my size
Services tailored to my industry
Quick approval of loan
requests
10%
25%
40%
55%
70%
85%
10% 25% 40% 55% 70% 85%
Performanceextremely/very
Importance extremely/very
Performance
outweighs
importance
Importance outweighs
performance

31.
Please rate please rate how well your bank performs on each of these aspects:
BANK RELATIONSHIP ATTRIBUTES
It’s most important to SMBs than banks not make mistakes
Strongly agree Somewhat agree
n=500 RANDOMIZED31
53%
38%
38%
36%
34%
29%
27%
28%
23%
26%
24%
26%
20%
18%
26%
34%
31%
30%
30%
34%
34%
31%
35%
28%
28%
25%
30%
29%
79%
72%
69%
66%
64%
63%
61%
59%
58%
55%
53%
52%
49%
47%
It is important to me that my bank does not make
mistakes
I am satisfied with my bank
My bank always treats me fairly
My bank always treats customers with respect
I would recommend my bank to peers
My bank always delivers what it promises
I can always trust my bank
If I have a problem, I can always count on my
bank to reach a fair / satisfactory resolution
I prefer to do all my financial business with one
company
I would never consider a lender without physical
locations, like branches or ATMs
My bank is the perfect bank for companies like
mine
I feel proud to be a customer of my bank
It is important to me that my bank stands for
something, like supporting the community
It is important to me that my bank is innovative
𝚺

32.
Please rate please rate how well your bank performs on each of these aspects:
BANK RELATIONSHIP ATTRIBUTES (CONTINUED)
One in five respondents would rather go to the dentist than a bank branch
Strongly agree Somewhat agree
n=500 RANDOMIZED32
19%
16%
12%
18%
13%
15%
16%
12%
9%
10%
11%
11%
9%
25%
27%
28%
22%
27%
22%
19%
19%
21%
13%
12%
12%
10%
44%
43%
41%
40%
40%
37%
35%
31%
29%
23%
23%
23%
20%
I can’t imagine a world without my bank
I value data that my bank provides from surveys
of businesses like mine
My bank doesn’t offer anything different from any
other bank
I would happily get a loan from an online-only
lender if I got faster approval or better terms
Financial services innovation will come from
outside the banking industry
I am comfortable doing business with an online-
only lender
It is important to me that my bank provides
business / financial management advice, such…
I don’t pay attention to loan rates and fees
In five years, the way I do my banking / financial
transactions will be totally different
I would be just as happy to do all my banking /
financial transactions with a company like…
I am likely to switch banks within the next 12
months
In five years, I won’t need a bank at all
I would rather go to the dentist than my bank
branch
𝚺

33.
33
TAKEAWAYS SO FAR
Learning So…
✔ SMBs highly trust their CPAs ✔ Consider a CPA referral program
They also trust local /
community banks
If you are one, promote your
community engagement
Good customer service is a key
retention driver
Rates and fees are the biggest
drivers of dissatisfaction
Assess how well your bank is
doing, for example through an
NPS assessment, and
competitive rate assessment
✔
✔✔
✔
✔

34.
Please indicate which best describes your company’s use of these financial products.
FINANCIAL PRODUCT USAGE
Almost two in three SMBs have a business checking account
Currently have Don’t have, but had within the past year
n=500 RANDOMIZED34
64%
58%
45%
31%
23%
17%
14%
14%
9%
10%
13%
18%
12%
17%
Business checking acount
Business credit card
Business savings account
Line of credit
Loan
Merchant cash advance
Invoice factoring

35.
Please indicate which best describes your company’s use of these financial products.
FINANCIAL PRODUCT USAGE
Adoption is highest for most offerings in the $1m-$5m segment
Currently have
n=500 RANDOMIZED35
64%
58%
45%
31%
23%
17%
14%
Business checking acount
Business credit card
Business savings account
Line of credit
Loan
Merchant cash advance
Invoice factoring
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
62% 65% 85% (AB) 78% (A)
55% 68% 90% (ABD) 73% (A)
43% 43% 69% (AB) 62% (AB)
28% 51% (A) 54% (A) 65% (A)
22% 35% (A) 30% 34% (A)
15% 28% (A) 30% (A) 27% (A)
13% 14% 26% (A) 24% (A)
78% (A)
90% (ABD)68%
62%

36.
Who is or was your loan from?
LOAN SOURCE
Most SMBs get a loan from their primary business bank…
n=206; IF CURRENTLY HAVE OR HAD WITHIN THE PAST YEAR36
54%
21%
11%
9%
4%
1%
My primary business bank
Another bank
An online or alternative lender
A hard-money lender
Peer-to-peer
Another source
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
50% 63% 83% (AB) 78% (A)
23% (C) 14% 8% 8%
11% 9% 8% 11%
10% (C) 9% (C) 0% 3%
5% 5% 0% 0%
1% 0% 0% 0%
78% (A)50% 63% 83% (AB)

37.
Who is or was your line of credit from?
LOC SOURCE
…as they do a line of credit…
n=222; IF CURRENTLY HAVE OR HAD WITHIN THE PAST YEAR37
72%
10%
7%
6%
3%
2%
My primary business bank
A hard-money lender
Another bank
An online or alternative lender
Peer-to-peer
Another source
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
56% 70% 83% (A) 81% (A)
9% (C) 14% (C) 10% 3%
15% 6% 14% 7%
13% (C) 8% 3% 7%
5% 2% 0% 2%
2% 0% 0% 0%
81% (A)56% 70% 83% (A)

38.
Who provides or provided your invoice factoring?
FACTORING SOURCE
…and invoice factoring…
n=154; IF CURRENTLY HAVE OR HAD WITHIN THE PAST YEAR38
49%
17%
17%
10%
5%
3%
My primary business bank
Another bank
An online or alternative lender
A hard-money lender
Peer-to-peer
Another source
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
43% 61% 81% (A) 66% (A)
18% 11% 13% 14%
18% (C) 25% (C) 4% 6%
12% (C) 0% 2% 11%
5% 4% 0% 3%
4% 0% 0% 0%
66% (A)43% 61% 81% (A)

39.
Who provides or provided your merchant cash advance?
MCA SOURCE
…and merchant cash advance.
n=154; IF CURRENTLY HAVE OR HAD WITHIN THE PAST YEAR39
48%
20%
20%
9%
3%
0%
My primary business bank
An online or alternative lender
Another bank
A hard-money lender
Peer-to-peer
Another source
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
44% 44% 74% (AB) 71% (AB)
24% (CD) 15% 4% 3%
21% 15% 15% 17%
9% 22% (C) 4% 9%
3% 4% 4% 0%
0% 0% 0% 0%
71% (AB)44% 44% 74% (AB)

40.
Which best describes your company’s intended use of these financial products in the next twelve months?
Savings accounts represent the biggest opportunity
40
PRODUCT ADOPTION
59%
58%
42%
27%
24%
19%
17%
13%
9%
10%
10%
8%
9%
10%
12%
10%
15%
12%
12%
9%
9%
17%
24%
32%
51%
55%
63%
64%
Business checking acount
Business credit card
Business savings account
Line of credit
Loan
Invoice factoring
Merchant cash advance
n=500 RANDOMIZED
Currently have; will continue to use current provider Currently have; will change providers
Don’t have; no plans to getDon’t have, but plan to get

41.
Who do you expect to get a new loan from?
EXPECTED LOAN SOURCE
The plurality of SMBs expect to get a loan from their current bank…
n=109; IF PLANING ON SWITCHING PROVIDERS OR GETTING A LINE OF CREDIT41
32%
25%
16%
16%
11%
0%
My primary business bank
Another bank
An online or alternative lender
A hard-money lender
Peer-to-peer
Another source
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
29% 44% 52% 56%
25% 25% 20% 6%
16% 25% 16% 13%
18% 6% 8% 6%
12% 0% 4% 13%
0% 0% 0% 6%
29% 44% 52% 56%

42.
Who do you expect to get a new line of credit from?
EXPECTED LOC SOURCE
…ditto for a line of credit
n=101; IF PLANING ON SWITCHING PROVIDERS OR GETTING A NEW LOAN42
42%
20%
17%
14%
4%
2%
My primary business bank
An online or alternative lender
Another bank
A hard-money lender
Peer-to-peer
Another source
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
42% 36% 57% 50%
20% 27% 13% 21%
18% 9% 17% 14%
15% 9% 9% 7%
4% 14% 0% 0%
2% 5% 4% 7%
42% 36% 57% 50%

43.
Would you use your alternative lender again?
Four in five SMBs would use their alternative lender again
n=80; IF HAVE USED AN ALTERNATIVE LENDER IN THE PAST YEAR43
ALTERNATIVE LENDER REPEAT USAGE
80% 20%
Would use their
alternative
lender again
Would NOT use
their alternative
lender again

44.
How would you say your attitude towards getting a loan, line of credit or other kind of
credit from an online or alternative lender has changed in the past year or two?
ATTITUDE TOWARDS ALT LENDERS
Two in five respondents feel more positively towards alternative lenders
44
22%
21%
46%
3%
9%
I am much more likely to apply to an online or
alternative lender than I used to be
I am somewhat more likely to apply to an online
or alternative lender than I used to be
My attitude hasn’t changed
I am somewhat less likely to apply to an online
or alternative lender than I used to be
I am much less likely to apply to an online or
alternative lender than I used to be
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
20% 31% 38% (A) 30%
21% 26% 16% 14%
47% 34% 40% 47%
3% 3% 3% 3%
9% 6% 4% 7%
47% 34% 40% 47%
n=500 RANDOMIZED

45.
45
TAKEAWAYS SO FAR
Learning So…
✔ Assess your cross-sell
efforts
Alternative lenders are strong
alternatives, especially for LOCs
Four out of five alt lender
customers would use them again
Two in five respondents feel more
favorable about alt lenders
Assess your competitive stance
vs. alt lenders
There is substantial market
opportunity for every form of credit,
especially savings accounts
SMBs are predisposed to get new
products from their primary bank
✔
✔
✔
✔
✔
✔

46.
Please answer yes or no to each of the following questions:
MOBILE APP ADOPTION
Mobile app adoption is solid; usage and satisfaction are very high
46 n=500 RANDOMIZED
Have downloaded their
bank’s mobile app
62%
Use their bank’s
mobile app
88%
Satisfied with their
bank’s mobile app
92%

47.
Please answer yes or no to each of the following questions:
BANK-SPONSORED EVENTS
The relatively few SMBs who have attended a bank event have found it very valuable
47 n=500 RANDOMIZED
Have attended an event
sponsored by their bank in
the past year
24%
Think the event was
valuable
83%

48.
Does your bank provide online business and
financial management advice, for example in a small
business resource center?
CONTENT MARKETING
More than one in four SMBs have read advice from their bank
48 n=500
30%
22%19%
29%
Don’t
know
No
Yes, and I
have read it
Yes, but I
haven’t read it
Please indicate whether your bank’s
business and financial management advice:
96%
84%
86%
87%
Is useful
Makes me think more favorably of my
bank
Makes me more likely to stay with my
bank
Makes me more likely to use additional
products or services from my bank
Satisfaction with bank content is very high

49.
Please rank-order these topics on which you would like your bank to provide business and
financial management advice from most important (top) to least important (bottom):
TOPIC PREFERENCE
Not surprisingly, SMBs most want financial management advice from their bank
% ranked top three
n=500 RANDOMIZED49
56%
52%
35%
34%
32%
32%
30%
17%
11%
Financial planning and management
Law and taxes
Technology
Sales and marketing
Operations
Industry news and trends
Leadership and management
Human resources
Import / export
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
57% (D) 45% 52% 38%
53% 45% 44% 49%
35% 37% 37% 34%
34% 31% 32% 30%
33% 31% 31% 27%
32% 35% 35% 32%
29% 38% 37% 45% (A)
17% 22% 17% 28% (A)
10% 17% 17% 18%
57% (D) 45% 52%
49%45%

50.
Please rank-order the formats in which you would like your bank to provide business and
financial management advice from most preferred (top) to least preferred (bottom):
FORMAT PREFERENCE
SMBs most like articles, followed by an analyst report and an email newsletter
% ranked top five
n=500 RANDOMIZED50
62%
55%
53%
47%
42%
38%
26%
26%
25%
24%
24%
23%
18%
16%
12%
9%
Article
Analyst report
Email newsletter
Case study
eBook / guide / handbook
Research report
Podcast
Blog post
Peer forum or discussion board
Webinar / webcast
White paper
Video
Facebook
Infographic
LinkedIn
Twitter
<$500K
(A)
$500K to
$999K (B)
$1M to $4.9M
(C)
$5M+
(D)
63% 54% 53% 54%
54% 68% (A) 62% 70% (A)
54% 45% 48% 51%
46% 46% 53% 49%
44% (CD) 35% 31% 30%
38% 28% 44% (B) 34%
25% 40% (A) 28% 30%
26% 25% 24% 24%
26% (C) 20% 14% 16%
25% 28% 17% 30% (C)
24% 25% 23% 31%
23% 15% 25% 18%
17% 22% 31% (AD) 14%
16% 17% 18% 19%
10% 20% (A) 21% (A) 18%
9% 14% 13% 14%
68% (A) 62%
63%
70% (A)

51.
51
FINAL TAKEAWAYS
Learning So…
✔ SMBs like bank apps ✔ Don’t have one? Get one
✔ …and events
Test some events, if it is a
strategy you’re not using
✔ …and content
Develop actionable, ideally
industry-specific content on
financial management; promote it
via an email newsletter and social
✔
✔

52.
Research
• Product / go-to-market strategy / CE / NPS
• Persona / buyer journey
• Original data for standout content and PR
Strategy
• Content strategy
• Creative brief / ed cal
Content
• Original content development
• Exclusive SMB focus
52
HOW BREDIN CAN HELP
Stu Richards, CEO
stu@bredin.com
Work with the experts in SMB insight and engagement

53.
THANK YOU