Posted by Ned Miller on Wed, Jul 28, 2010 @ 04:50 PM
Some of our clients believe that Branch Managers should take the lead in managing the top small business relationships in their branches. Others think that the Branch Managers should also allocate a percentage of their time to prospecting in the microbusiness and professional segments. That strategy can work, but only after addressing a number of issues:
* Many Branch Managers have a limited understanding of how businesses operate. In their meetings they tend to shift the conversation too quickly toward bank products and services.
* Most of their interactions with business owners have been reactive; they are not as comfortable proactively calling on companies where there may be no immediate need for their products or services.
* Branch Managers have limited knowledge about business products, outside of DDAs, cash management and merchant services.
* They don’t get enough “practice” calling on businesses. (In our opinion, unless a Branch Manager is making at least 4 or 5 scheduled business calls a week, he probably isn’t going to get either comfortable or effective.)
* Their bosses often have the same background and aren’t particularly adept at coaching outside business calls. They often defer to business partners to coach their teams in that area.
* Branch Managers often get mixed and conflicting messages about priorities. (Is my job to sell products or build relationships with business customers? Should I spend more time in the branch or make more calls?)
For insights into how banks are addressing these and other issues, visit our website to download a recent presentation on “Guiding Branches to Small Business Relationships” at http://www.mzbierlyconsulting.com/landing-page-temp-0/