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.

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.

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Please Stop the Ongoing Insanity in Bank Sales Training

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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.”

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.

Is Your Bank Ready for This Sales Strategy?

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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.

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.

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 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

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.

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.

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.

“Are You a Customer?” Is a Dangerous Question

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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?

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.

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.

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.

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).

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!

Will You Be a Casualty of the Sales Coaching or Business Coaching Stampede?

Increase Sales

From local Small Business Development Centers to recently unemployed executives, there continues to be a plethora of “coaches” ready to solve their clients’ problems and fill their own bank accounts.

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.

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

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.

3 Ways to Master Sales Team Politics

Sales Benchmark Index

It is the political bank account inside a company that gets things done. This political capital bank account can be as important as making your number. When used correctly, the PC bank account will take a hit. We all have it.

The Worst Sales Call of 2012

Sales Benchmark Index

As we approach the location of the call Erick told us the account: Was a bank. Sally, the EA to “Joe”- SVP of IT for the Investment Banking Division, greets us. Our banking customers are using our technology to reduce the time it takes to approve commercial real estate loans. Our research shows that real estate developers chose who to bank with based on how long it takes for loans to get approved. Joe:” Erick, I work for the Investment Banking Division.

Why Are We Being so Easy on Wells Fargo?

Sell More and Work Less

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.

2017 New Sales Behaviors Replace Cost with Invest

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People hear or read the word invest or investment and they see some money leaving their bank accounts, but with the knowledge some of it will return. Buyers are cost driven because the word cost has been in front of them since grade school.

Sales 82

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.

How to Frustrate Your Leads

Sell More and Work Less

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.

Pre-written sales operations job descriptions

InsightSquared

Similarly, elite private schools may set you up for a career in, say, investment banking, but they’re overkill for ops pros.

Sales 15

This Is the Biggest Lead Generation Mistake on Social Media

No More Cold Calling

Like so many salespeople, he’s just clicking buttons and banking on “return on clicks.” A LinkedIn connection is not a sales lead. It happened again.

That Data Scientist Colleague is a Business Asset. 5 Tips.

Babette Ten Haken

The great thing about this field is that it crosses over to so many industries, from banking to finance to marketing, science, social/psychological to consumer package good, sales, etc.,” Think about that data scientist colleague you work with.

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Having a Bad Day Just Get Over It Part 2

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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.

Think Robots Will Replace B2B Sales Reps?

No More Cold Calling

According to a study by Bank of America , robots are likely to be performing 45 percent of manufacturing tasks by 2025. Buyer 2.0 needs us more than ever. Eliot Burdett, CEO of Peak Sales Recruiting, explains why in this month’s guest post.

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How Eleanor Roosevelt Paved the Way for Women in Sales

No More Cold Calling

But she couldn’t get a job at a bank because banks didn’t hire women, even as tellers. This first lady was a trailblazer for women leaders. And she’s finally getting some credit. I don’t remember Eleanor Roosevelt.

Sales Today Is Truly a Balancing Act

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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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Do Generational Differences Matter in Account Based Sales?

No More Cold Calling

In a recent article in the ABA Banking Journal it’s suggested, in fact, that “attitudes and habits that are widely thought to be millennial-specific may actually be quite widespread among the general population.” Stop fretting about Millennials and embrace your inner Perennial.

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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Unconventional Ways to Get Your Salespeople Out of a Rut and Closing More Deals

Steven Rosen

Encourage your team to lighten up their first impressions and let the laughter flow and soon your company will be laughing all the way to the bank. Are your sales reps constantly complain that they are “stuck”?

Don’t Sell Scared (The 4 Steps to Being a Badass)

A Sales Guy

c) Don’t need the commission check (have money in the bank). (d) The most destructive emotion a sales person can have is fear. Fear will kill a deal in two seconds. Fear will drop the price of your product or solution 30% in the blink of an eye.

A Practical Playbook for Account Based Marketing

DiscoverOrg Sales

Once you have started your ABM program, you can bank on better quality leads, shorter sales cycles, and higher average deal size. Looking to give a your sales a boost?

Understand The Power of Social Sales

Score More Sales

If I have prospects and customers in the banking industry, I’m going to track banks by name and if I have a geographic territory, by location.