The “hunter and farmer” model of sales is so broken in most banks we see; it’s not even funny anymore…
There’s a long list of so-called-sales-trainers that have tried to get banks to train their way out of the problem, but all of that is like a Band-Aid® on cancer…
So today, let’s strike the root of the problem in sales:
Wrong people in the wrong seats.
See, when we hire salespeople, we’re looking at all the wrong measurements (and sadly, some aren’t looking further than a resume).
Eighty-percent of sales results are driven by emotional intelligence.
What if you’ve put together a great incentive program…and it’s not working?
What if you’ve had phenomenal sales training…and that’s not working?
Perhaps you’re solving the wrong problem.
If fact, research shows that emotional intelligence has more to do with sales results than anything else. And, knowing what it is that most matters about emotional intelligence can create a transformation in your sales results.
In fact, 80 percent of sales results are impacted by and driven by emotional intelligence.
So, how do you start to understand the emotional intelligence of your people?
Is net interest margin compression a given?
It is for most banks…but it’s not for all banks. In fact, many banks are bringing up their net interest margin by 40, 50, 60, 100 basis points in a half a year to a year.
And if they can do it, perhaps you can.
So what are the seven telltale signs that you will have continued NIM compression?
Number one: You have people who believe that they have to match rate.
Beliefs drive results.