Many senior bank executives question whether their sales leaders have what it takes to get the job done. Some banks are redoubling their efforts to train and coach their first-line sales leaders on how to develop their commercial and small business teams. Others are actively recruiting management talent. The smart ones are doing both.
If you’re a sales leader, here are 10 mistakes you don’t want to make:
- Managing everybody the same way.
- Administering your bank’s sales process rather than leading it.
- Thinking that you can be successful from behind your desk.
- Forgetting about coaching the top of the sales funnel while helping your Relationship Managers close business.
- Failing to provide ongoing refresher training to your teams.
- Letting average-performers develop their own prospect list.
- Not strategizing with people about their top customers and prospects.
- Assuming that because you’re always available for quick informal coaching, you don’t need to schedule 1 on 1 coaching sessions.
- Not coordinating with your line of business partners to keep conversations moving forward on non-credit products and services (e.g. Treasury Management, Trust and Investments, Capital Markets, etc.)
- Not maintaining contact with bankers whom you would like to hire, even if they’re happy where they are.
What do you think? What can banks do to improve the performance of sales leaders? Please share your advice, insights, and experiences in the COMMENTS area below…
Free Webinar: Alternative Lending and Banks with Charles Wendel
Alternative lending companies continue to focus on the business banking space. Increasingly, banks are evaluating how to cooperate with these players since they offer streamlined processes and enhanced risk management, both of which can turn small business lending into a profitable opportunity for banks.
This webinar will summarize the current state of alternative lending, the different lending approaches, the major players and how they work with banks as well as developing trends. It will also discuss the key criteria that banks need to consider when they evaluate whether and how to work with these new lenders.
Date: Friday, August 14, 2015
Time: 11:00 am, Eastern Daylight Time (New York, GMT-04:00)
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