Boost Your Bank’s Bottom Line with One Change [VIDEO]
I believe in the unlimited upside potential in your team, and I believe that with the proper tools, they are capable of so much more. In this video, I’m going to...
Team selling is the new “it.” But most banks get it all wrong, sadly. They think team selling is “I send Joe out with Susie, and Pat goes out with Jane … and everything is good.”
That is not team selling. Harvard Business Review had an instructive research-based article making the case that team selling is clobbering the traditional Maverick model.
But, hey, to get better results, you’ve got to do the team-selling process correctly, right?
Video: Your Team-Selling Checklist
So, who goes on the team? What are each of the roles on the team? How does a team that goes out and does the first call differ from the team that goes out on the second call?
These are distinctions that are important to get right. And to do that, what position does each of them have? Who knows who talks when, who does what part of the questioning, who does what part of the presentation? All of these are things to be thought out. Also, who does the pre-call prep plan, who arranges the practice before the call? Who makes sure the proven template that generates an 85% closing rate is followed with exactness? How do YOU know?
When you go out on a significant top 100 prospect, since the top 100 customers account for 50 – 140% of your profits, that prospect might be worth $5,000 – $10,000 of profit per month for the lifetime value of your client.
Your chance of blowing it—either not closing at an 85% rate or above or having to match rate or not getting the entire relationship, is huge unless you are prepared.
A good team should have an 85 – 90% close rate, and that’s going to take some masterful connecting of how that team comes together and knows what it’s doing. The team-selling model works—but only if your sales culture and systems are managed with extreme attention to detail of what is proven to work.
– Roxanne Emmerich
Please watch the video above and share it with your exec team and board.
I believe in the unlimited upside potential in your team, and I believe that with the proper tools, they are capable of so much more. In this video, I’m going to...
What is your opportunity cost per inbound call? In other words, how much profit is lost per mishandled call that doesn’t turn into a lead, then a customer, then a full...
Does bank culture really matter? Gallup tells us that if you have an average amount of disengagement, it will rob $3,400 from your bottom line for every $10,000 of...
I've heard it a thousand times—a CEO will say to me, "I am so tired of lenders walking into my office and saying, 'Boss, I'm going to lose this deal unless we match the...
When everyone is competing for a scarce item, it becomes difficult unless you improve at it. This is exactly what we need to do with low-cost deposits. Let’s face it,...
I attended my first bank CEO conference several decades ago. You know what the theme was when people talked about cross-sales? They said, "My people are still order...
Sometimes, two different ideas seem to challenge each other. You've probably heard me say that everyone has a role in managing the culture of the organization. You've...
I don't care what your position is; you have a sales position. Why? Let's say you're out with other soccer moms, and somebody mentions they're planning on building a...
When I was working on my graduate studies in organizational development, I learned about the concept of learned helplessness. What I've discovered is that it’s a...
Ken Blanchard wrote several books years ago and conducted a research study. What he found was that the number one concern for business owners was the lack of people...