Tag: Bank Sales

How To Speed Up The Deposit Sales Cycle

Growing Deposits

Given that it is the start of the year, it is a common practice in banking to clean your desk to kick things off. When it comes to desk cleanliness, you have two choices:  leave your desk alone or set it on fire.

A New Feature on LinkedIn That Your RMs are Probably Not Using

Event Networking With LinkedIn

Any relationship manager (RM) that has ever worked a conference knows how frustrating it is to try to track down that one prospect you have wanted to meet or catch up with. While you may have an attendee list, it is also equally frustrating to know who is in the room. This is where LinkedIn comes in with a feature that can revolutionize how you network and get the most out of any given marketing event. In this article, we show you how to leverage the technology to make you the smartest banker in the room.

 

Why Your Bank Should Rent and Market Shared Office Space

Banking and Shared or Co-Working Space

Statistically, we call it the density function. The more potential clients that are located in close physical proximity to each other, the higher the probability that each will become a client of your bank. Consider that during college, a time in your life was you likely had a high density of people around you, at any given moment, 20 people could randomly show up to your apartment or house. Sometimes you would be asleep only to wake up to find a small party in your living room without so much as an invitation.

Teaching Team Sales To Relationship Managers

The Bank Sales Team

While lots of bankers study and pride themselves on selling, few banks train in “team sales.” Like playing a team sport, one-on-one selling is different than when selling as a team. To the extent your bank uses a “client action team” or group of bankers representing different products to bring over a big client, improving your team sales technique can turbocharge performance. In this article, we look at six, often overlooked ways, your teams can boost its commercial client conversions from prospect to customer.

 

How Role-playing Can Help Improve Bank Sales Performance

Improving Bank Sales Performance

We are big proponents of developing a sales process for bank calling officers.  We believe that without a well-defined and implemented sales process, a community bank cannot succeed as a sales organization.  One very effective tool that more bankers should be deploying for their sales process and training is role-playing.  However, few community bankers are doing so, and at a recent bank meeting where we discussed role-playing as a sales tool, we had two bankers (a CEO and a CLO) roll their eyes at us and state that they would not subject their

Note Taking Systems To Improve Your Bank’s Sales Calls

Improving Sales Calls Note Taking

Recently, we sat down with Jack Hubbard of St. Meyer and Hubbard to compare sales call note-taking approaches. We were both amazed at how few bankers take notes during meetings and sales calls. While there are lots of reason not to take notes, there is one scientific study out there that shows you can have 70% or better recollection of an event past three months. Since the customer is one of the most important assets to your bank, and you likely pride yourself on being relationship-driven, then it only makes sense that every banker should take notes.

10 Commercial Sales Tips From Community Bankers

We just concluded our annual Bank Management Conference at the Ritz-Carlton at Amelia Island.  In our breakout sessions and conversations with attending bankers, one of the hot topics was how community banks can become better sales organizations. We shared our journey and collected some great feedback on ideas and tactics that have worked for other banks. In this article, we share the top 10 ideas that bankers expressed at our conference related to how community banks can become better at building relationships and driving sales.  

Managing A Relationship-Driven Bank Sales Team

Bank Sales Management

The most common complaint we hear from commercial bank calling officers is the lack of time available to prospect for new clients. Commercial lenders, banking, and calling officers spend less than one-third of their time selling. The majority of their time is spent on administrative work, credit and internal meetings. Furthermore, commercial calling officers get a second meeting with a prospect only 20% of the time, and a third meeting less than 10% of the time.

5 Closing Tactics of Experienced Commercial Bankers

Bank Sales Techniques

Sometimes in banking, the closing of a particular loan or deposit transaction drags on for no other reason than the customer is reluctant to agree to the terms either for spoken or unspoken reasons. At CenterState, we have learned some valuable lessons from other banks that have helped us close more transactions and can help every relationship manager gain more of an advantage to cut down closing times and increase their closing percentage. In this article, we break down these five lessons.

 

 

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