Is There a Best Sales Strategy for Banks?

Increase Sales

With financial institutions being on almost every corner from the downtowns to the suburbs, one begins to wonder what is the best sales strategy for banks, if there is just one? For years local banks did not have to sell their banking services because they were the only game in town.

A Simple Sales Management Strategy For Banks

Increase Sales

Banks are interesting businesses to observe. After several visits to the bank I presumed the existing manager with whom I had a relationship had been replaced and there was a new one. What appears to be a narrow focus is the problem with many bank branch managers.

For Banking Industry Sales Managers – How to Lead

Increase Sales

The US banking industry especially within the commercial side has dramatically changed because of compliance and the economy. Today banks appear to be as common as convenience and fuel stores, fast food chains and drug stores. There is a bank of every corner or it seems that way.

Is Your Bank Ready for This Sales Strategy?

Increase Sales

Attend any business to business networking event, chamber of commerce luncheon or civic organization and you will be exposed to a plethora of local to regional to national banks. Drive down any street and there are almost as many banks as their are fuel/convenience stores.

Please Stop the Ongoing Insanity in Bank Sales Training

Increase Sales

During lunch a Vice President of a regional bank asked me this very pointed question: Why doesn’t sales training for banks stick? ” This statement in and by itself doesn’t mean the learning experience will be sustainable or in the words of this bank VP “stick.”

Wasted Sales Opportunities – How One Bank Blew Theirs

The Pipeline

One of the big Canadian banks, we’ll call them the Green bank, has a current radio ad that I believe holds a great lesson for sales people. Sadly for Green, I already have a tablet, a 10”, and a mediocre Blue bank, only a few shades darker than Green.

How Customer Loyalty Can Be Destroyed by One Simple Action

Increase Sales

His financial institution, a national and well known bank, stopped taking in loose coins. Then he can bring it back to the bank. Even though he was not told this directly, this specific banking service was no longer profitable. The end result was within 30 days he changed banks. Don’t tell a customer you can no longer provide a free banking service and then sell a product charging a fee for the same service. Much is written about customer loyalty.

Hey Mr. Banker Why Are You So Consumed About Your Business Competitors?

Increase Sales

Business growth for banks is very difficult given most local, regional or national banks have the same solutions. Yet in banking there appears to be a lot of business competitors as there is a different bank on almost every main intersection.

What We Can Learn From Bank Of America And Netflix

Sales Tips & Techniques

Companies like Bank of America and Netflix have made mistakes during the past year, as they haven't adjusted well to the recession, and made errors in determining the sentiment of their customer base. Read full story → Sales Management

What You Don’t Know Can Kill Sales Growth

Anthony Cole Training

I had a conversation this week with 3 executives that run bank-owned investment programs. developing sales talent how to manage salespeople effective sales management predictable sales growth

Top 3 Revenue Growth Trends Impacting the Financial Services Industry

Sales Benchmark Index

As the authority voice for mortgage and banking news to the finance industry, HousingWire is here today to share the top. Our guests on SBI TV are Clayton Collins, the CEO, and Jacob Gaffney, the Editor in Chief, of HousingWire.

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Fishing/Selling – It’s an Exact Science… Kinda

Anthony Cole Training

I went fishing with a very good friend of mine from First Citizens Bank in NC and he took me to his favorite fishing hole - Lake James. Keith claims it is the most beautiful fishing lake in the country. I don’t know if it is - I’ve not seen them all, but this is one beautiful lake!

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Is it an Expense or an Investment?

Anthony Cole Training

I just returned from the 2016 Bank Insurance and Securities Association annual convention. As always, it is a great event where competitors come together to discuss processes and strategies to deal with the challenges of growing financial institution-owned investment (broker) programs.

What the Numbers Tell Us about Salesperson Readiness

Anthony Cole Training

We recently delivered a webinar specifically for one of our clients – BISA (Bank Insurance and Securities Association).

Onboarding: One Key to Successful Hiring

Anthony Cole Training

We specialize in financial services, banking and insurance. In January, we launched Hire Better Salespeople. It is the recruiting business solution to help companies profile, attract, screen, evaluate, hire and on –board “A” sales talent.

Sales Motivation Video: Do You PLAN on Getting Lucky in Sales?

The Sales Hunter

A better approach is to plan to get lucky, meaning you proactively bank the odds in your direction by working smart and hard. What is your strategy for sales success? Some people just hope luck will work in their favor. “Luck” generally shows up for those who hustle and strategize accordingly. Check out the video […]. Blog Professional Selling Skills Sales Motivation sales motivation sales strategy success

How to Set Yourself up to Recruit and Hire Top Talent this Year

The Center for Sales Strategy

If you manage people, one of the best ways you can do this is to ensure that you have a strong talent bank — even if you do not plan on making a single hire. A strong talent bank allows you to set the bar high for your team, hold people accountable to meeting expectations, and move forward without missing a beat if one of your people chooses to leave. Here it is, the beginning of another new year and the perfect time to make sure you are setting yourself up for success in 2018.

Why is It So #%&@ Hard to Solve the Sales Growth Problem? – The 5 Constraints to Growing Sales – Part I

Anthony Cole Training

It’s still something that we get asked about when we present at the Community Bank CEO Network and other venues. I’ve written on this subject, talked about it at workshops/keynotes and presented it to our clients in our Sales Managed Environment ® Certification program for over 20 years.

Guest Article: Cash ISAs for beginners

Jonathan Farrington

Cash ISAs are widely used by all kinds of people at the moment, and many different banks offer them. If you are interested in opening a cash ISA account, you should start by doing a cash ISA comparison amongst the different banks.

What to Keep Doing, Part 3 of 3

Anthony Cole Training

I continue to learn from my clients and the training director of a large national bank once said to me, “This is what we would like to keep doing. This is what we would like to start doing. And this is what we would like to stop doing.”

To Fill Your Open Sales Talent Positions, Think of Recruiting Like Prospecting

The Center for Sales Strategy

I asked how full the talent bank was and he said, "running on empty." I was on the phone with a client the other day who was really struggling with many open seats across his sales teams.

2018 Economic Outlook for Sales

Pipeliner

Such an outlook is important for sales because if the economy is doing better we have job growth, hiring, wage growth, capital investment, banks become freer with loans–all of which makes for a much more robust sales environment.

For Sales Success Tell The Truth

Pipeliner

Some had bank accounts opened in their name that they didn’t authorize and more than 800,000 of the bank’s auto loan customers were charged for car insurance they did not need. In a world of increasing scandal, with institutions playing fast and loose with the truth and people slapping “fake news” labels on content with increasing frequency, success must come from telling the truth. Always.

How to Frustrate Your Leads

The Sales Leader

Picture this…you call into your bank for support. Upon dialing the number, you’re prompted by a machine to enter in your card number and other details.

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3 Important Ways Account-Based Sales Teams Can Stay Relevant

No More Cold Calling

My client, a community bank president, stays in touch with his peers, many of whom are competitors. Another bank might be in a position to better serve one of his clients. And ultimately, this bank president is looking for opportunities to buy other community banks in adjoining markets.

Why Are We Being so Easy on Wells Fargo?

The Sales Leader

Let’s call a spade a spade. What Wells Fargo did was illegal. They used private customer information create bogus accounts, forged signatures and authorized charges that customers were not made aware of.

How to Get into the Holiday Spirit

Inside Sales Training

Having money in the bank today. Not feeling it this year yet? Regardless of what’s going on, I’ve got a sure way to help you get into the holiday spirit. I call it: “Get into Gratitude.”. This is a sure way to get into the holiday mood in just ten minutes!

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Wells Fargo: What Happens When You Set Targets Based on Rhyme Not Reason

The Sales Leader

The average American has 3 accounts at their bank. I’m not ready to stop sharing the Wells Fargo fiasco and what it means for us as professional sellers. Today, we are hearing about sales targets.

“Are You a Customer?” Is a Dangerous Question

Increase Sales

This past week I drove through my bank’s outside drive through teller lane to quickly deposit several checks. ” Why do you think the deposit ticket has your bank’s name printed on it along with my account number?

How Your Sales Leads May Be Starving Your SMB

Increase Sales

A successful elephant kill means that you can eat for a year and your bank account is nice and healthy. Sales leads happen in all seasons.

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The Moment of the Sale

SalesGrail

I was in my local bank. I was being helped by the manager for a standard transaction. However, another teller had a question. She leaned over and whispered to the manager. To my surprise, the manager stopped helping me to help her. The manager didn’t say, “Excuse me, I need to help this teller for […]. Sales Tips

The Inside Scoop: Chipotle’s Big Burrito Breach – Malware with a Side of Chips

DiscoverOrg Sales

The only way to resolve this as a cardholder is to call the bank and have them issue an entirely new card with a security chip. Additionally, if you have any ancient plastic that has yet to be upgraded, call your bank and have them switch out those cards to chip technology.

Compensation Plans for Top Sales Performers

Sales Benchmark Index

Top sales reps have banked the remaining commissions earned last year. Effective incentive compensation is designed to reward desired selling behaviors. Your top sales reps have been living with the comp plan since kickoff. By now, they have figured out how to leverage this year’s plan.

Guest Article: Important things to consider when starting a business

Jonathan Farrington

It explains to a bank or other potential investors exactly how you intend to go about filling a niche in a particular marketplace, and shows that you understand your market and who you will be selling to, and how you will go about doing so.

Sales Today Is Truly a Balancing Act

Increase Sales

Even though there is an app for that, personal service and interaction with an associate is why 31% of the customers prefer bank branches. This morning I received some sales research about customer trends in the financial industry.

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Buzz Words Don't Sell

Increase Sales

Again, many in sales lose sales leads by going into the reeds along the bank. Believe it or not, some believe that adopting the most current buzz words will dramatically their increase sales. Right now the most popular buzz word is sales enablement. Before that we had trusted advisor, consultative sales, development specialist, relationship expert, you get the drift. In many instances, buzz words tell others how you do what you do and not what you do.

Get More Sales Opportunities With These 5 "Go To Green" Activities

Anthony Cole Training

Green” means “go” and “go” means “go to the bank”. And in my mind, from my perspective, there are 5 activities that have to be included when you are talking about “green” or “go to the bank” activities. By Tony Cole, President, Anthony Cole Training Group.

How to Align Your Sales Pitch with C-Suite Buyers

Openview

Then there’s Charles Scharf , Chairman and CEO of Bank of New York Mellon Corporation. He told analysts that the bank spends $2 billion annually on technology and will continue to devote “an outsized amount of our resources” to it.

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Having a Bad Day Just Get Over It Part 2

Increase Sales

Yesterday I wrote about my first time customer experience with a local bank. Having a bad day is something most of us can relate to within our professional careers and small businesses.

How to Generate Leads with Twitter and LinkedIn

Fill the Funnel

Join us on Tuesday, September 22nd at 10:am Pacific to hear two people that are at the top of their game using LinkedIn and Twitter to book real business, putting real dollars in their bank accounts. Can you generate leads in B2B by using Twitter and LinkedIn?