Sales Success for Banks and Credit Unions

Sales Success Depends on Training, Tracking and Leadership

Today’s financial institutions want sales from the business development team. The front line, branch managers, lenders and call center personnel all have sales responsibilities that you cannot afford to ignore. And, if your offer trust, treasury management, investments, insurance and mortgage, you have to obtain buy-in from all areas to funnel referrals to these income-producing areas.

You won’t get what you want unless you first provide what’s required!

What is the Formula for Sales Success?

No one is comfortable doing something they don’t know how to do. Very few of us are comfortable doing something we rarely do. We don’t like it when we are expected to do something we aren’t trained to do. The same goes for something that isn’t tracked encouraged and celebrated. The same goes for sales success. Sales success starts with planning, then relies on training. The frustration and disappointment will be huge if you don’t create plenty of both.

Well-done training is a must. The training curriculum must include all aspects of key selling techniques. That includes the entire how-to. From profiling who needs what to setting appointments. Without training and tracking, the sales team will overwhelm you with excuses and complaints. Excuses and complaints will tremendously impact your sales success. They are popular deal killers when you try to implement a consistent, meaningful sales culture.

Everyone who’s expected to contribute to business development must be well-trained and held accountable. Momentum and traction come with putting all the pieces together. Again, it all starts with training.

The Importance of Sales Success

Sales expertise should be on the same level of importance as compliance, accounting, deposit operations and loan processing. It’s a well-known fact that compliance officers must have ongoing training, leadership, and accountability. Their exam outcomes are tied to the compliance officer’s performance review. What would you say about a financial institution that didn’t track every aspect of the lending function and outcome? You’d say it is a reckless and poorly run company!

Sales Success is no Magic

Any change, expectation or new technology that is to be implemented successfully will be seriously dependent on project management and training. The transition will be painful and morale will hit the ditch when planning and training are ignored or done poorly, no matter the circumstance. Sales success is not something that magically happens.

All of the training in the world isn’t going to improve your sales metrics if you don’t know what those metrics are, what they should be, and whether or not you’re moving in the right direction. You want to assess and measure before and after the training to gauge effectiveness.

If you are interested in learning more, our program Spotting Opportunities & Making Referrals is what you want! Check it out here.

Still learning

Honey Shelton