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 it’s FUN to win.
In this session, I’m going to share with you a way to help your lenders win more and better deals.
If you’re the kind of leader:
When you embark on a sales breakthrough in lending, there are usually three big ugly challenges that seem to show up:
EVERY bank has hit one or all three of these barriers to a real breakthrough that sustains through time.
I’m now going to give you three steps that will help you help your teams start to win attractive deals at premium pricing quickly in just a few weeks so that they can feel the joy of profound success.
Step 1: UNLIKE so many sales approaches where it is a “numbers game,” lenders need to know exactly who to call on. Those are the targeted few who have exactly the right firmographics and psychographics, so you get home runs with the right people who are likely to fall in love with you AND bring in all their business.
Step 2: In contrast to typical sales training, it’s not time to cold call. Their prospect has not yet seen evidence of them obsessing about that businesses’ success for some time. Without built up “reputational equity” to lead with, your lenders get treated like vendors—rejected at worst or treated as a commodity vendor at best. Your chance of doing a deal is still low, and there is no way that lenders can get 100 basis points more than competitors if they do get the deal.
Step 3: Unlike so many “shoot from the hip” approaches, create an exacting plan of how to warm up prospects, how to initiate conversation and then, how to demonstrate your Level 4 USP—that “differentiating value” that makes you worth the switch AND at premium pricing. Of course, you need a sales “system” that all your lenders follow—one that is proven to get A+ credits at significant premium pricing.
Just three steps to normalize big wins for your lenders:
By doing these things, your lenders will get hooked on how fun it is to win and win and win. Knocking down every one of your topmost desirable prospects at premium pricing is SO much more fun than potentially closing those who were the most recent inquirers with all the “rate matching games.” Once they know what it feels like to win, they’re hooked!
In the next session, I’m going to cover how you can put team selling in place to help you achieve an over 90% close rate on your Top 100 most desirable prospects while you get all their business.
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