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Presented at the 2009 Concepts '09 conference for the Payments Authority, I present the concept of a sales process for community banks and financial institutions to embrace when trying to instill a sales culture in their organization. We talk about the three main parts of having an objective, who the players are and what the tools will be to accomplish the goals of the organization.
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Concepts '09 - The Payments Authority
Eric Cook (269) 841-5007 1
Sales…It’s Not a Four Letter WordConcepts ‘09 - The Payments Authority
Eric C. Cook
WSI Internet Consulting
Cook Consulting & Training
Concepts '09 - The Payments Authority
Eric Cook (269) 841-5007 2
Introduction
Eric Cook Former community banker (15 years) Now consulting with banks and other businesses
on Internet strategy and sales process Graduate School of Banking, UW Madison MBA, Western Michigan University Contact information…
[email protected] or (269) 841-5007
Concepts '09 - The Payments Authority
Eric Cook (269) 841-5007 3
How Could You Leave Banking?
Concepts '09 - The Payments Authority
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Agenda Understand why sales is important Introduce you to a sales process
Goals/Objectives Players Tools
Questions…
Concepts '09 - The Payments Authority
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Is This Going To Be Painful?
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Why Sales? Increased competition Job retention Profit and income Help customers Help coworkers Grow the business Remain in business Product ideas What other reasons???
Concepts '09 - The Payments Authority
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The Sales Process
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Goals & Objectives
ToolsPlayers
The Sales Process
WHATare we trying to
accomplish?
WHOis going to be
involved in the process?
HOWare we going to
accomplish them?
Concepts '09 - The Payments Authority
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Goals & Objectives
Concepts '09 - The Payments Authority
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Goals & Objectives Define what you want to
accomplish Customers: Wallet share Prospects: Market share
Be “SMART” with your objectives Specific, Measurable, Attainable,
Realistic and Timely Everyone needs to have a goal
Measurable on a monthly basis
Concepts '09 - The Payments Authority
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The Players
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The Players - Current Customers Know who’s doing business with you now
Do you have an MCIF system? Deposits
Core vs. non-core Loans
Consumer, residential and commercial Electronic Services
Online banking, bill payment, debit cards, direct deposit, etc…
Target: Increase wallet share Get them to do MORE with you…
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The Players - Prospects Identify other areas where you could generate
additional business Understand your niche and what’s working Major employers
Education, healthcare, manufacturing, service Realtors and brokers (other partners?) Referrals (“refer-a-friend” program)
Target: Increase market share Get them to DO BUSINESS with you…
Concepts '09 - The Payments Authority
Eric Cook (269) 841-5007 14
The Players - Employees Executive team Front-line
Front line (Tellers, CSRs & New Accounts) Loan Officers (commercial & residential) Branch Managers
Administration Accounting Processing Marketing/Advertising Operations & IT
Concepts '09 - The Payments Authority
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Tools
Concepts '09 - The Payments Authority
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Tools - Milk Route List of customers/prospects that you will touch base
with on a regular basis Examples: Face to face, e-mail, mail, calling, other?
Leave behinds Get an appointment Ask for the business Follow-up Objectives
Top of mind awareness, build relationships& get appointment
Concepts '09 - The Payments Authority
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Preparing for a “Sales Call” It does not have to be scary Review current business – Internal reports Research your customer – Visit websites Assemble presentation materials – Handouts POST (People, Objective, Strategy & Tactics) VALUE (Vision, Attitude, Likeable, Unique &
Excitable)
Concepts '09 - The Payments Authority
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Simple “Sales Call” ExampleOpening
Compliment, thank you, objective
1. What’s “broke” Why aren’t we getting 100% of your business now?
2. Match solutions Know your products and services to offer solutions
3. Next steps Set future business steps or follow-up meeting
CloseAsk for business and/or referral
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Get your message out so people know who you are and what you do (branding)
E-mail Consistent frequency and message content Needs to provide “value” to the reader
“Traditional” mail Postcards or direct mail letters on products, services or
special bank news Other methods
Websites, social networking and online/offline tools Lobby signs, posters, stuffers, testimonials, statement
messages, lobby displays, leave-behinds, etc…
Tools - Awareness
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Awareness Examples Branding via e-mail
messages
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Personal Profile Your “role” Promote events Mention specific
products or services Talk about your
interests, hobbies, etc. Can be in paper or
“electronic” format (like LinkedIn or a personal blog site)
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Social Networks
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Articles & Writing
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Tools - Networking Attend monthly functions
Sponsored events to promote services Lunch-&-Learn, seminars, breakfast meetings, etc.
Associations and trade shows Realtors, Home Builders, Service groups
Always have an objective Meet people, talk about new products/services, schedule an
appointment, get more business Know your “30-second commercial” Online opportunities
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Tools - Support Everyone needs to be on board
Sales goals and process Regular meetings to compare
actual to goal and keep on track Meet by department
Get marketing department support
Continue to adjust
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Tools - Learning & Education Know the products/services you have to offer
Know your competition too Make time to educate yourself (personal &
business) Internet, podcasts, webinars, books & CDs Trade shows, conventions, networking
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Resources & Motivation
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Sales Resources Use outside resources
to learn more about the sales process Books, CDs, websites,
magazines, newsletters, podcasts, etc…
Sample Action Plan & Resource Page Available for download
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Stay Motivated… You are changing a
culture, it will not happen over night
Don’t be afraid to start small
Start today!
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Questions?
Eric C. Cook(269) 841-5007
www.PoweredByWSI.com/Concepts09
