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1 © 2016 St. Meyer & Hubbard, Inc.
Becoming a Resource ManagerThrough the 5Cs
Margie Kensil Senior Consultant
mkensil@smandh.com704-798-7903
2 © 2016 St. Meyer & Hubbard, Inc.
Today We’ll Discuss 5Cs, Trust, What Clients Want
7 Basic Financial Needs
One bank’s 80% hit rate – no cold calling
Net-Sharing and LinkedIn
Paperless, purposeful planning
Buyers with answers
VIP and Resources for the Resource Manager
3 © 2016 St. Meyer & Hubbard, Inc.
There Will Be No Scripting
Memorization
Manipulation
Magic Pills or Promises
4 © 2016 St. Meyer & Hubbard, Inc.
A Group Exercise to Get Us Going
5 © 2016 St. Meyer & Hubbard, Inc.
In Teams There are 5Cs of Trust-Based Selling. What are they?
LinkedIn is being used by some banks as part of their overall sales strategies. How about yours?
What are some ways you prospect for new business?
What tools do you have/use to prepare for calls, to execute calls and to articulate value after calls?
If you could get better at one thing in the sales process what would that be?
6 © 2016 St. Meyer & Hubbard, Inc.
The 5Cs1. Conversations *
2. Curiosity
3. Customization
4. Collaboration
5. Connecting
7 © 2016 St. Meyer & Hubbard, Inc.
Sales Email Stats
8 © 2016 St. Meyer & Hubbard, Inc.
Sales Voicemail Stats
9 © 2016 St. Meyer & Hubbard, Inc.
Sales Call Stats
10 © 2016 St. Meyer & Hubbard, Inc.
Social Selling Stats
11 © 2016 St. Meyer & Hubbard, Inc.
The 7 Basic Financial Needs
12 © 2016 St. Meyer & Hubbard, Inc.
Basic Financial Needs1. Managing_____________________
2. Managing_____________________
3. Managing_____________________
4. Managing_____________________
5. Managing_____________________
6. Managing_____________________
7. Managing_____________________
13 © 2016 St. Meyer & Hubbard, Inc.
Basic Financial Needs1. Managing Growth – yes/no, how much, how fast
2. Managing Cash – in/out/keep
3. Managing Information – Sabermetrics replaces “gut feel”
4. Managing Fiduciary Responsibilities – people and uncle
5. Managing Risk – real, rep, other
6. Managing the Future – 50% gone
7. Managing Personal Wealth – the total partnership
14 © 2016 St. Meyer & Hubbard, Inc.
Key RM Sales Activities Sourcing Prospecting/Net-Sharing Social Collaboration Appointing (Pre-clients, Clients, COIs) Preparing and Executing Conversations Cross-Solving/Deep and Wide VIP(Conversation Recap/3By) Orienting/Onboarding (31631) Value Touches (3 Before 8)
15 © 2016 St. Meyer & Hubbard, Inc.
The Prospecting Funnel
16 © 2016 St. Meyer & Hubbard, Inc.
Sourcing – Being a BankerPreneur In the Box
• Drive territory micro recorder/tablet/smart phone• Centers of Influence• Net-Sharing
Out of the box• The DOS and the market as COIs• Source where you dine• Publix manager becomes COI
Monty Python• Speak + Write = Brand Me (marketing is a partner here)
Technology• Hoovers, Google, Prweb.com, others?• LinkedIn
17 © 2016 St. Meyer & Hubbard, Inc.
How One Bank Prospects with Trust
SUN MON TUE WED THU FRI SAT
1 2 3 4 5 6
LettersMake
LinkedInConnection
Note OR Emails OR Drop-offs
7 8 9 10 11 12 13
AppointmentPhone Calls/
Visits
Final Touch Voice Mail Messages
18 © 2016 St. Meyer & Hubbard, Inc.
Net-Sharing
“You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you.”
– Dale Carnegie (1888-1955)
19 © 2016 St. Meyer & Hubbard, Inc.
The Purpose of Net-Sharing Make valuable connections with people who can:
• Take advantage of the solutions you offer• Recommend you to those who might buy something• Put a personal and public face on your bank• Seen as someone who can provide economic advice• Serve as a resource and give back to the community
20 © 2016 St. Meyer & Hubbard, Inc.
Why People Dislike Net-Sharing Fear of:
• Seeming too pushy or desperate• Approaching new people• Bumping into competitors• Not knowing what to say (or not to say)• Appearing awkward and/or nervous• Having nothing interesting to say
• Book Alert – Networking for Introverts
21 © 2016 St. Meyer & Hubbard, Inc.
Business Net-Sharing Opportunities Selecting Organizations to Join
• Informal Contact Networks – Chambers of Commerce• Formal Contact Networks – BNI• Community Service Organizations – Rotary, Kiwanis• Professional Associations – RMA, ABA, CBA, BAI• Internal Networking – Sharing with Partners
22 © 2016 St. Meyer & Hubbard, Inc.
The Process1. Join/attend right events and organizations
2. Prepare before attending the meeting or event
3. Maximize your time at the meeting or event
4. Follow-up after the event with VIP
23 © 2016 St. Meyer & Hubbard, Inc.
Preparing to Net-Share1. Research the audience – get the names2. Learn about key attendees – industry, company, personal3. Determine A,B,C criteria4. Cards in pockets – which ones?5. How you introduce self and initiate conversations6. Client versus prospect strategy7. Take pen, take notes8. Prepare follow-up before you go9. What are your objectives for the event10. What you will say/ask11. Offer articles or information (that you prepared for) as a reason to
follow-up
24 © 2016 St. Meyer & Hubbard, Inc.
Net-Sharing ConversationsAppear Approachable
Introduce yourself
Ask great questions
Get/give cards – left/right pocket
Look at card, comment, hold it
Be interested with questions
Conversation short – use PCS to indicate what you do (to help)
Notes on card and A,B,C
25 © 2016 St. Meyer & Hubbard, Inc.
Your Personal Capability Statement Customize your statement to match the interests of the individual
Memorize components of your message, rather than the message as a whole
Practice stating the message aloud
Have different proposition statements prepared
Have stories ready to share
26 © 2016 St. Meyer & Hubbard, Inc.
Asking Great Questions
27 © 2016 St. Meyer & Hubbard, Inc.
Initiating Net-Sharing Conversations General conversation starters
• How long a member• How get involved• How often attend• What for fun
Business-oriented personal questions• How get interested in your business• One sentence – what your business does• What are trends and how stay current• What do you like most – some challenges
Top Networking question• ________________________
28 © 2016 St. Meyer & Hubbard, Inc.
Effective Net-Sharing Follow-Up Create a system to record information collected
Prioritize business cards collected
Follow-up immediately and fulfill your promises
Express appreciation immediately
Maintain the connection
Connect with them on LinkedIn
29 © 2016 St. Meyer & Hubbard, Inc.
LinkedIn™ – Connecting the Bank to Your Personal Brand
“Your brand is what people say about you when you’re not in the room.”
Jeff Bezos, Founder of Amazon (1964- )
30 © 2016 St. Meyer & Hubbard, Inc.
LinkedIn Started 2003 as recruiting tool Now 414 million members, 120 in US Four levels of connection: 1st, 2nd, 3rd, Group 2.3 million Groups 3.5 million company pages Connections in the News Three levels of commitment
• Free• Premium• Sales Navigator
Measure with SSI – www/linkedin.com/sales/ssi
31 © 2016 St. Meyer & Hubbard, Inc.
What Top Performers Do Top performers spend 25% more time on research and preparation Top sales and marketing pros send 148% more connection
requests and share 23% more content Social selling behavior leads to a 2X increase in sales
performance through new clients, meetings secured and opportunities generated
Social selling adoption is higher amongst older sales professionals: • 27% are over 30 years old
• 33% in 30-45• 34% in 45+
Top performers on two hours a day. Bankers on 17 minutes a month
32 © 2016 St. Meyer & Hubbard, Inc.
10.5 Ways to Successful Social Collaboration
33 © 2016 St. Meyer & Hubbard, Inc.
Free Service Generates Mind Share
85% 15%
59%41%
0% 18%
29% 24%29%
94%
6%
34 © 2016 St. Meyer & Hubbard, Inc.
Paperless, Purposeful Call Planning“Failing to plan, means planning to fail.”
–Benjamin Franklin (1706-1790)
35 © 2016 St. Meyer & Hubbard, Inc.
Call Preparation Process1. Initial Research
• Business, Industry, Humans
2. Call Road Map• Maximum and Minimum Goal• The time, the examples, your value proposition
3. The Conversation• Rapport, Set Direction, Question, Stories, Joint Commitment
4. Leave Behind• Nothing about you – it’s about them
36 © 2016 St. Meyer & Hubbard, Inc.
37 © 2016 St. Meyer & Hubbard, Inc.
Take These on a Discovery Call Enough Business Cards – plus one (95% factor)
Two pens that work
Plenty of paper with some pre-boarded questions• Some send some questions ahead • Some bring a tablet or iPad
Open mind and the ability to listen actively without trying to respond to every question
Leave behind that has nothing to do with the bank
38 © 2016 St. Meyer & Hubbard, Inc.
Send some high impact questions ahead
B-N-G starts the process
Identify priorities and challenges
Gain deeper understanding of key need areas
Summarize the discovery conversation
Insight Questions to differentiate you
Ask the 97% question
The Seller Has the Questions
39 © 2016 St. Meyer & Hubbard, Inc.
The Buyer Has the Answers
“The art and science of asking questions is the source of all knowledge.”
Thomas Berger (1924- )
40 © 2016 St. Meyer & Hubbard, Inc.
Onboarding New Clients
3 Days • Telephone Reach Out By Sales Manager• Welcome, their role, feedback about RM
1 Week • Board Member Welcome Call
6 Weeks • Telephone Reach Out by Sales Assistant• Introduction, gauge experience, cross solving
3 Months • Visit by RM/SM• Review relationship, cross solve, add value, lunch
Ongoing •Visits by RM and possible joint calls with SM
1 Year • Anniversary Card – Developed By Marketing• Sent by Division Executive with personal note
41 © 2016 St. Meyer & Hubbard, Inc.
Resource Manager Success Practices
“In trust-based selling the point is not to win competitive battles but to constantly improve the collaborative relationship with customers themselves.”
Charles Green
42 © 2016 St. Meyer & Hubbard, Inc.
43 © 2016 St. Meyer & Hubbard, Inc.
3 Before 8 3 Somethings of value to arrive before 8:00 AM
• Send a Lead and leave it alone• Forward an article and let it be• Drop off a White Paper on a targeted subject• Share a Best Practice or a new idea
Make Technology/CRM work for you
3 Touches per business day X 240 days = 720 annual touches X 20 bankers = 14,400 value touches
What if you did 1 a day?
44 © 2016 St. Meyer & Hubbard, Inc.
Resources for the Resource Manager
“You can get anything you want in life if you help other people get what they want.”
Zig Ziglar (1926-2012)
45 © 2016 St. Meyer & Hubbard, Inc.
SmartBrief.com
46 © 2016 St. Meyer & Hubbard, Inc.
SmartBrief.com
47 © 2016 St. Meyer & Hubbard, Inc.
TheFinancialBrand.com
48 © 2016 St. Meyer & Hubbard, Inc.
Resources for the Resource Manager www.smartbrief.com www.convinceandconvert.com www.sellingpower.com www.firstresearch.com www.thefinancialbrand.com www.verticaliq.com www.gitomer.com www.raintoday.com www.ficinc.com www.csoinsights.com
www.trustedadvisor.com www.manta.com www.barlowresearch.com www.charlieapp.com www.paper.li.com www.jillkonrath.com www.prweb.com www.google.com/alerts www.peppersandrogersgroup.com www.geoffreyjames.com
49 © 2016 St. Meyer & Hubbard, Inc.
“Can I be excused? My brain is full!”
50 © 2016 St. Meyer & Hubbard, Inc.
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