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How High-Performing Banks Use Emotional Intelligence Audits to Increase Sales

by | Sales Training

Most banks have three solutions they implement in the hope of having a breakthrough to increasing revenue that generates high profits:


  1. They hire more lenders.
  2. They ask each lender to make more calls.
  3. They hope one of those two plans work. However, they hardly ever do.

Research shows that just a few lenders, usually about 6% that have a business development profile, carry the rest. Moreover, even that happens only if that 6 % know how to implement the right sales process. Otherwise, those naturally gifted lenders sell only by matching rates, which is hardly impressive.

After these three steps play out, typically, the fourth step is often triggered: repeating the first three hoping maybe it will work next time.

Nobody knows other strategies that work, so some version of the three “steps” shows up on strategic plans for most banks nationwide nearly annually – always hoping for different results.


If you’ve been attempting these strategies and wondering why you’re not getting better results, you’re not alone.


It’s not your fault. Those strategies certainly sound as if they would be “common sense.”

But if those three steps don’t work, then what does?

Let’s look at banks that consistently attain NIM of over five and/or ROA of over 2.

Success does leave clues.

Team selling with team composition dictated by emotional assessment scores is a common practice of these high-performing banks. Their results require consistently hitting growth goals for both loans and deposits with premium pricing on quality prospects. Anyone can close loans with desperate prospects. True mastery is earning premium pricing on the most desirable prospects in your market –after all, getting premium pricing is why sales positions exist.


So why is sales performance not keeping up with lender salary increases? 


First, as mentioned, only 6% of people have an emotional intelligence profile that correlates with attracting significant new business without giving up rate. Emotional intelligence is essentially thinking that happens before predictable behaviors.

It is like having long limbs and quick reflexes that provide the potential to be a great basketball player: The individual must still learn to play but certainly has a much higher chance to succeed.

You can try the stick of threatening to put a lender on a performance plan, the carrot of incentive pay, or any other trick. However, only about 6% have long limbs, height, and speedy reflexes that give them a chance to make the NBA.

This doesn’t mean you should fire the other 94%. Those with other profiles seem to sell very well on teams using a tightly structured and well-executed sales process designed to get premium pricing if they have the minimum profile to be in sales. If not, the cost of mental anguish to them and lost sales to you can be crushing. Given the right role on teams, though, there is a place for every lender –one where they win because synergy means 2+2+2 can equal 20.

Most banks get this all wrong.

They simply connect two people, call them a team, and that doesn’t do much. Alternatively, structuring roles including project manager, account manager, topic expert, present of Level 4 USP, sales lead, etc., allows for the team to function.

The standard you should set should allow for a 90% close rate on those most desirable prospects. If they are below that, it is clear that they are not following the right process with precision. That is a KPI every bank executive team should review weekly — cross sales on Top 100 prospects.


Want to understand how to construct your sales team to optimize their production?


The secret is in their emotional intelligence scores.

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