Comment: Want to Be a Bank CEO? It Might Help to Work At McDonald's

Imagine selling financial services as you would shoes, cigarettes, fast food, or any other consumer commodity. As unlikely as this may sound, it's becoming a reality.

Banks are beginning to adopt a retailing approach to the sale of financial services. But are bankers retailers? And if so, what does that imply?

To my way of thinking, retailing encompasses distributing, merchandising, and, ultimately, selling to the public at point of sale. Given their presence in branches, ATMs, and supermarkets, banks can indeed be defined as retailers.

Of course, such point-of-sale marketing activities are only one aspect of the bank's operations. What's more, retailing is only one element in the marketing mix.

This being the case, should bank CEOs view themselves as retailers when it comes to consumer businesses?

I think not. In fact, bankers are marketers first and foremost - and retailers second.

Consider all the nontraditional ways financial services are reaching consumers: PCs, the Internet, the telephone.

These services may not fit the traditional definition of retailing, but they can be classified as marketing.

Such distinctions aside, why should bank CEOs be concerned with either retailing or marketing?

Because they cannot afford not to be. These are the very functions responsible for building revenues, market share, and profits. To relegate them to middle management would be an abrogation of a CEO's strategic management responsibilities.

There is ample precedent for CEOs to expand their focus in this way.

For example, there was a time when few of the understood bank operations and systems. The "back room" was left to nonbankers.

But times have changed. Today, nearly all bank CEOs take leadership roles in these areas.

Similarly, strategic marketing and "brand development" will demand more attention from bank CEOs.

Here are five question that they and other senior executives should ask themselves.

* What do I really need in terms of skills and expertise to ensure that our bank continues to grow profitably in an increasingly competitive environment?

* What should my role be in helping to develop marketing strategy, product innovation, and distribution systems?

* Are we short-changing ourselves by bringing in retailing expertise from the outside? Are we relying on that expertise to lead us to market dominance?

* Do we really understand what our customers want? If not, how can we find out - quickly and effectively?

* How should we position ourselves in the financial services arena? Among consumers? Among businesses? How do we differentiate ourselves from the competition?

If you answer thoughtfully, your responses to these questions will be quite unlike those of other banking organizations - because each bank is unique. '

To get started, think of yourself as head of a world-class marketer like Coca-Cola, Disney, or Visa.

What would you do to build the brand?

Mr. Powers is the chairman of Boardroom Advisors, a Tampa-based consulting firm that specializes in bank marketing and management.