How Top 5% Banks Drive NIM Through the Roof—Without Raising Rates [VIDEO]
Net interest margin is under pressure—and if your bank is still waiting on rate changes to save your profitability, you’re already behind. In this sharp, no-fluff...
I believe quality loan growth is one of the top three drivers of sustainable profitability for banks.
In this session, I’m going to show you how, by restructuring your lending department, you can increase the productivity per lender by 30–40% or more within 12 months.
If you’re the kind of leader:
Every time a bank “gets serious” about transforming their lending team, they seem to hit one or more of the same four issues:
If you’ve had any or all of these, join the club. This has been the pattern for almost all banks for decades.
I’m now going to give you three steps that will make your results dramatically different in a few weeks.
Step 1: Unlike most personality assessment hiring tools that “can be cheated” or are a representation of how they see themselves (or they’re trying to convince you that’s how they see themselves), reliability studies clearly demonstrate that emotional intelligence assessments are undeniably predictive about who is going to win at sales and who isn’t. Also, who is likely to win at managing accounts versus who should hunt for accounts becomes obvious.
If you are like most banks, you have at least 30% of your team in the wrong slots. Emotional intelligence is the thinking at the core of the behaviors and is, therefore, very difficult to change. You can’t coach height, right?
Personality assessments do not have a powerful correlation to success by position that emotional intelligence assessments do. Research on thousands of lenders shows a low-risk sales profile will outsell a medium risk profile by 400% on average. What would that mean for your bottom line to quadruple the production per lender? Exactly!
Step 2: In contrast to most sales training that gives everyone the same training and expectations across the board, you would be better served to get people in the right slots. Realize that only 6% of the population has a “hunter” profile. So, you absolutely can’t afford not to pull your hunters out of busywork, loan renewals, and get them leading the teams of account managers who will keep the relationships with your best customers going. A good account manager, HATES business development, and a good business developer can’t be kept behind their desk.
Step 3: Once you know how to put each person in their area of excellence, you can create the process. That consists of figuring out the different responsibilities and determining when the baton is passed on a new loan to an account manager so that the client feels more love—not less. All of that takes a solid system.
Then, manage the system.
So, three steps:
By revamping your sales approach and getting people in the slots where they can win with a game plan that sets them up for success, you can transform your loan growth quickly, and more importantly, predictably.
Make sure you tune in next time where I’ll show you how to normalize big wins fast and help your lenders consistently win better deals.
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