Industry: Banking Institution
100 year old regional bank with several branches looking to more effectively compete with national ban ks by aligning revenue opportunities with better customer service and incorporating a soft-sell culture.
Particular Industry Concerns/Opportunities:
- Customer familiarity and loyalty is strong
- Strong ties to community
- Known for their charitable outreach to local non-profit enterprises
Create a sales process, commission structure, training program, accountability and goal metrics targeting increase in up-sell and cross-sell conversions. Raise revenue by matching customer's needs with current and new bank services through cross selling.
Observations and Target Concerns:
- Tellers have limited or no sales training.
- Lacking sales activity tracking mechanism.
- Missing opportunities for maintaining current customers when closing out accounts.
- No management tools in place to manage tellers and track activity. Culture is retail mentality - must be shifted to one of a soft-sell.
- Tellers require training to identify sales opportunities with existing customers.
- Internal Personal, Commercial and Home Loan departments not at top of mind for referrals from tellers.
Recommended and Implemented Solutions
- Worked with COO to develop customer relationship tracking procedures for tellers.
- Worked with CFO to create SOP's for Branch Managers to easily track and report teller activity incorporating commission structure and referral procedures for ancillary services on a weekly and monthly basis.
- Created and delivered teller sales training program teaching soft-sell skills
- Taught tellers to identify sales opportunities and provided follow up procedures
- Incorporated representatives from ancillary service partners to educate tellers on products and referral procedures
- Created a monthly Branch Manager Mastermind meeting for sharing of strategies, ideas and collaboration
- Created process for Loan referrals to be made and tracked
- Exceeded sales goals of target products by 200%
- Expanded teller role to successfully incorporate sales process
- Several promotions within organization from implementation of processes
- 18% Increase in banks appraisal value
- Tellers directly responsible for 75% of loan referrals
- After 24 months, DP Sales Pro’s in-house mentoring and management techniques are still in use
Used DP Sales Pro Services:
- Conducted initial one-on-ones with each teller to identify strengths and weaknesses to be incorporated into training
- Customized plan employing Branch Manager training for executing productive one-on-one teller coaching for accountability
- Customized reports and forms
- Custom sales training program delivered for tellers to comfortably ask, educate, suggest and recommend various products with ease