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Cassandra McKinney is CEO of Comerica’s Retail Bank. [Photo: Comerica]
Dallas-based Comerica Bank announced that it is expanding its support for small businesses by providing North Texas customers with a unique set of new product and service offerings designed to help them grow and succeed.
The banking giant said that through its new Comerica SmallBizCo-Op concept, Comerica will share its assets and resources with small business clients in the region to help them achieve their goals.
“At Comerica, we believe in doing everything we can to empower our small business customers and give them the opportunity to succeed,” said Cassandra McKinney, Comerica Bank’s chief executive officer of Retail Banking, in a statement. “These opportunities are designed to deliver real value to our clients and create an even stronger relationship with them. In turn, our small business customers can take advantage of these opportunities to help strengthen their own customer relationships.”
Small businesses make up 99.9% of all US businesses and 99.8% of all Texas businesses, Comerica said. However, most are often at a disadvantage compared to their larger competitors, with significantly smaller budgets and fewer employees, and the owner typically fills multiple roles at once, Comerica said.
The bank said Comerica SmallBizCo-Op is available as a no-cost benefit to Comerica small business customers. Comerica said it is sharing its assets and influence to give small business customers a competitive advantage in a challenging business environment.
Giving small businesses the advantages of big business
SmallBizCo-Op components include:
- Comerica SizeUp – Enables Comerica’s small business customers to access competitive market data and research, better understand how their business stacks up against the competition, and ultimately make more informed business decisions. This benefit will be available soon.
- Sports Ticket Program – Gives small business customers the opportunity to entertain a customer or share a profit with their employees through free tickets to the Dallas Stars, Texas Rangers or other Dallas sports. Comerica will provide small business customers with two tickets to a home game every 12 months.
- Small Business Advertising Program – Gives small business customers the opportunity to advertise their business through Comerica’s sports media inventory, banking center marketing TVs, sponsored events and more. Comerica will advertise small businesses for free during Dallas Stars, Texas Rangers or other Dallas sports games. Businesses are limited to one radio ad during the term of the Comerica SmallBizCo-op program.
Comerica SmallBizCo-op also offers customers a way to save on everyday business expenses like computer equipment, office supplies and more through multiple savings, rewards and discount programs. This includes opportunities like these:
- Comerica is transferring its buying influence and big business pricing discount with a major office supply retailer to its small business customers, allowing them to purchase office supplies for up to 40% less.
- Small business customers will gain access to discounted prices on software, hardware, computers and other small business technology solutions.
- Comerica CoReward$: Small business customers get access to a comprehensive online store with thousands of discounts in more than 25 categories, including travel, home, auto, health and more, updated daily.
Elevated Experience Expansion
The banking company said the launch of Comerica SmallBizCo-Op is the first of several high-profile experiences in Comerica’s long-term strategy of sharing its resources with its small business clients. He said the expanded elevated experiences are expected to roll out more this year.
“During our initial planning phase, we involved many of our small business customers and invited them to share their pain points and specific needs with us directly. The product and service offerings we are introducing today, as well as those planned for launch in 2023, have been specifically designed to address many of those needs,” Omar Salah, Comerica Bank’s director of Small Business Banking, said in a statement.
Building on the success of the North Texas pilot program, Comerica said it plans to introduce SmallBizCo-Op to other markets across the country in the coming months and years.
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