Here are 12 things I have learned working with bank Sales Leaders and their teams over the last three decades.
1. Knowing how to do something is more important than knowing what to do. (Lots of bankers talk a good game; you want players.)
2. If you’re not having an impact on the business, you’re not doing your job as a Sales Manager. (You have to lead your bank’s sales process, not push paper.)
3. Don’t expect a CRM solution to create a sales process. (Build a process then buy a system that supports it.)
4. Keep studying your competition. Learn how they sell. (And if you find yourself losing to any individuals consistently, try to hire them.)
5. Strategizing with your team members on prospects starts before the term sheet is in the works. (You have to vet prospect lists and discuss strategy on a regular basis.)
6. Recruiting top quartile performers can’t be left up to HR or outside recruiters. (Build your own short list of top-performers—see #4 above.)
7. Sales training “events” rarely produce sustainable results. (It’s what you do afterward that matters.)
8. Reviewing why you won or lost a deal is important for everybody. (And don’t believe for a minute that the answer always is “Our pricing wasn’t competitive.”)
9. Selling is changing. (Prospects expect more preparation and clear signals that you can add value to their business.)
10. People + Process = Results. (If you have a good process but mediocre talent, you’re going to struggle.)
11. Not all line of business partners are created equal. (80% of the qualified referrals usually come from 20% of the partners.)
12. You have to keep sharpening your skills. (What are you doing to make yourself a better coach? What are you reading this year? What courses are you going to attend?)
Agree? Disagree? Let me know your thoughts in the space below.
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