Last time we talked about research that was shared by Professional Selling Power magazine that declared that:
Number 1) Having a selling system that works can increase sales effectiveness and net results by as much as 30 percent.
2) Following a selling program or procedure can increase selling effectiveness and net results by as much as 20 percent.
And 3) Maintaining a positive mindset or attitude can influence your selling effectiveness and net results by as much as 50 percent!!!
We’ve already covered strategies to improve the mindset and attitude. In this session, let’s focus on your selling system.
You’ve probably heard me say that if banks spent 10 percent of the energy that they used to follow the end-of-the-day balancing “system” on creating and monitoring the compliance to a sales system, the results would be spectacular.
The reality is that most financial institutions have not even begun to create a sales system, and worse yet, the few that do rarely hold it important enough to follow through with it… sending a strong message to your people that you don’t mean it!
Here are just a few areas where you need to begin to think about creating systems:
•What power question is written for each product line to switch rate shoppers off the topic of rate and get them talking about why your value is more important?
• What is your system to rank the potential of clients? How often and what approaches will you use to stay close to the current most powerful clients?
• What is the itinerary of the sales meeting and how do you know it optimizes results?
• What are the visibility processes so that you know and can applaud the constant increase of the critical drivers of your sales team?
• How are you tracking and rewarding both the giving and handling of referrals?
• And since revenue is a picture of what your people have done in the past with regard to frequencies and competencies, what frequencies will you track to assure revenue growth in the future? Examples include: number of calls to Top 100 clients, weighted sales funnel that will be within 10 percent of closed business that adequately predicts who is closing when, number of cross sales per new customer, number of calls on centers of influence…you got it.
• What frequencies will you celebrate? How often? In what format?
• What system do you have in place to assure every new mortgage purchases at least 5-6 additional products and services before the loan closes? When is follow up scheduled? Who is primarily responsible? How often are you posting results and celebrating improvement?
Since we know that people are more prone to do things when there is a system and there is obvious monitoring of the system, define and choose a few systems to create and monitor immediately.
For a quick, 60-minute complimentary coaching session where we’ll help you identify at least three solid, proven systems that you can take away right away and implement to make your sales system better, click here or call our office at 952-737-6730. We Look Forward to that call.