“sales” it’s not a four letter word perry school of banking eric cook monarch community bank...
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“Sales”It’s not a Four Letter WordPerry School of Banking
Eric Cook
Monarch Community Bank
Alicia Cook
Chicago Title Insurance Company
Introduction Eric Cook
Regional President, Monarch Community Bank Graduate School of Banking, UW Madison MBA, Western Michigan University
Alicia Cook State Sales Manager, Chicago Title Insurance BA, Western Michigan University Over 15 years of “real-world” sales experience
with proven results
Objectives What IS sales (and what it’s NOT) Understand why sales is important Introduce you to the sales process Provide examples of basic sales tools Develop a personal 90-day “action plan” Sales resources to keep you motivated
Why Sales?
Competition is growing Customers are more educated Customers are less loyal Evolve from the “order taker” mentality
Bankers do what we are asked Meeting expectations is no longer enough
Needs to involve EVERYONE Be patient – it will take TIME!
Objectives
StrategiesPlayers
The Sales Process
Revenue, Wallet/Market
Share
(Measure)
Customers, Prospects & Employees
(Involve)
Tools, Awareness, Networking, Education &
Support
(Utilize)
Sales: The ObjectivesGoals Define what you want to accomplish
Be specific Establish an annual goal and break
it down by month Be “SMART” with your objectives
Specific, Measurable, Attainable, Realistic and Timely
Everyone needs to have a goal (measurable on a monthly basis)
Rewards
Sales: The PlayersTargets – Current Customers
Know who’s doing business with you now Deposits
Core vs. non-core
Loans Consumer, residential and commercial
Electronic Services Online banking, bill payment, debit cards, direct
deposit, etc…
Sales: The PlayersTargets – New Prospects
Identify other areas where you could generate business Understand your niche and what’s working Major employers
Education, healthcare, manufacturing, service
Realtors and brokers Referrals (“refer-a-friend” program) Others???
Current customers Go after additional “wallet share”
New prospects Understand what you are doing well
Pareto’s Rule: 80/20 analysis Spend your time wisely
Reports/MCIF system Assists with identifying profitable customers and
prospects for more business
Sales: The PlayersCreate a Target List
Sales: The PlayersEmployees Executive-level commitment Sales
Front line (Tellers, CSRs & New Accounts) Loan Officers (commercial & residential) Branch managers
Support Accounting Processing Marketing/Advertising Operations & IT
Sales: StrategiesRetention & Enhancement – Current Customers Ensure that others in your organization know your
“key” customers Create a “milk route”
Get out and visit with customers on a regular basis Reach out in other ways (phone, e-mail, etc…)
Follow-up Tie up lose ends, send thank you notes
Networking events Lunch-&-Learn, after hours or seminars
Sales: StrategiesAcquisition & Growth – New Prospects Ensure that others in your organization
know who you’re going after Create a “milk route”
Get out and visit with prospects on a regular basis Start to build a relationship (look for similarities) Work to get an appointment to “pitch” product/service
Follow-up Make phone call to ask for appointment if you don’t see
them, tie up lose ends, send thank you notes Networking events
Chamber, service clubs, association events & trade shows
Get your message out so people know who you are and what you do
E-mail Consistent frequency and message content/theme Needs to provide “value” to the reader
“Traditional” mail Postcards or direct mail letters on products, services or
special bank news Other methods
Lobby signs, posters, stuffers, testimonials, statement messages, lobby displays, leave-behinds, etc…
Sales: StrategiesOutreach & Awareness
Sales: StrategiesNetworking At least three functions per month
Bank sponsored functions Lunch-&-Learn, seminars, breakfast meetings
Associations and trade shows Realtors, Home Builders
Service group Rotary, Exchange, Lions Club
Always have an objective Meet people, talk about new products/services, schedule
an appointment, get more business
Sales: StrategiesLearning & Education
Know the products and services you have to offer (and your competition too)
Understand the sales process Make time to educate yourself (personal & business)
Internet, webinars, journals, books, & CDs Service providers like Deluxe (Knowledge Exchange) Trade shows, conventions, networking
Sales: StrategiesOngoing Support & Results
Everyone needs to be on board Sales goals and process
Weekly meetings to compare actual to goal and keep on track Meet by department
Get Marketing department support
Continue to adjust
Sales: StrategiesProcess Tips
Your personal “brand” Theme, taglines,
personal profile, 30-second commercial
Sales: StrategiesProcess Tips
Your personal “brand” Theme, taglines, professional
profile, 30-second commercial Preparing for the meeting
Preparing for the Meeting Research your customer – Visit website Review current business – Internal reports Assemble presentation materials – Proposal POST (People, Objective, Strategy & Tactics) VALUE (Vision, Attitude, Likeable, Unique &
Excitable)
Sales: StrategiesProcess Tips
Your personal “brand” Theme, taglines, professional profile, 30-second
commercial Preparing for the meeting Sales “1-2-3”
Sales “1-2-3”Opening
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
Sales: StrategiesProcess Tips
Your personal “brand” Theme, taglines, professional profile, 30-second
commercial Preparing for the meeting Sales “1-2-3” Technology tools
Technology Tools CRM system
Excel, Outlook, Groupwise, Goldmine, ACT! Assists with managing customer contacts (sales
cycle) Helps with accountability
Laptop, cell phone, PDA Website & Blogs
Sales: StrategiesProcess Tips
Your personal “brand” Theme, taglines, professional profile, 30-second
commercial Preparing for the meeting Sales “1-2-3” Technology tools Know your ABCs
Always Be Closing
Resources and Motivation You are changing a
culture, it will not happen over night
Don’t be afraid to start small
Rely on outside resources to learn See Resource Page
Stay motivated and don’t give up