Subscribe via E-mail

Your email:

Community Banking Brief

Bank Sales Corner

Current Articles | RSS Feed RSS Feed

6 Things for Bankers to Add to their Holiday Lists

  
  
  

The Christmas season is almost here.  Nobody outside of your immediate friends and family wants to see you between Thanksgiving and New Year’s.  Forget getting in to see prospects.

Wrong, wrong, wrong. On this planet savvy bankers need to use what’s left of the year to keep their momentum in business development. If you’re at a loss for ideas on how to do that, here are six suggestions:

1. Keep scheduling appointments with your customers and prospects.   If your competitors are too busy attending holiday parties, it may be that much easier to get in to see some people on your list. And if somebody isn’t free before year end, get on his calendar in January 2012.

2. Show your prospect list to some of your satisfied customers. (If you’re reluctant to do that, sign up for our recorded webinar on “Building an Effective Referral Network” at https://mzbierlyconsulting.webex.com.)

3. Spend some quality 1 on 1 time with your current COIs—and don’t forget your line of business partners or other internal referral sources. (And while we’re on the subject of colleagues, do something nice for your Administrative Assistant.)

4. Go with a plan to any holiday functions you attend. That might include preparing in advance a list of people you want to talk to or making a commitment to meet 3 new people at the event.

5. Call your customers to thank them for their business. If appropriate, see #1 and #2 above.

6. Review where you stand with your top prospects. If you’re at an impasse with any of them, set up a time to strategize with your boss on how to proceed.

Now is not the time to begin that long winter nap. There’s plenty to do between now and the New Year to get off to a great start in 2012.

Next Live Webinar: “Getting Referrals from CPAs” on January 9, 2012 focuses on building relationships with CPAs to generate referrals. You will learn:  

  • Which CPAs you should target for referrals
  • Why your Value Proposition matters
  • What the research shows about referrals
  • How to plan for your initial meeting with the accountant
  • What you should accomplish in the first appointment
  • Strategies for staying in touch with CPAs

Special Guest: August Aquila, President of Aquila Global Advisors, who was named one of the 100 Most Influential Figures in the Accounting Industry by the AICPA

Time: 11:00 AM Eastern (10:00 AM Central, 9:00 AM Mountain, 8:00 AM Pacific)

 Registration: You can register for the session three ways: (1) Call Susan Lersch at 610-296-4771 or (2) email her at susan.lersch@mzbierlyconsulting.com or (3) go to the Training Center section of our secure Webex website at https://mzbierlyconsulting.webex.com and pay the $225 fee for the webinar by credit card.

Upcoming Webinars:

January 30, 2012 “Branch Manager as lnside Sales Coach and Outside Business Developer” with David Kerstein

February 13, 2012 “Opportunities in Health Care” with Jim Unland

 

 

 

16 Things Prospectors Can't Lose Sleep Over

  
  
  

Prospectors get down about many things they can’t control. Here’s a partial list of things most of you* should not worry too much about:

  • The economy
  • Your competition’s pricing strategy
  • Your bank’s marketing budget
  • The location of your branches
  • The location of your main competitor’s branches
  • Your credit policy
  • Your competition’s apparent disregard for their credit policy
  • The length or format of your loan write-ups
  • Upcoming enhancements to your cash management products
  • The incentive compensation plan
  • Dodd-Frank
  • Regulators
  • Credit unions
  • Your bank’s loan pricing model
  • Your CRM system (or lack thereof)
  • Slick TV and media campaigns run by your competitors

*If you are in a position of authority in your bank and are getting paid to worry or do something about any of these, disregard this article. But if you can help your teammates in any way with their prospecting efforts, please do so.

Bank Sales Leaders: Find out more about our next live webinar on November 21 on “Coaching Commercial RMs in Challenging Times” by going to http://www.eventspan.com/event/2011-11-21-strategies-for-sales-leaders

Can’t make the live session? All webinars are recorded and are available in our archive within 24 hours in the recorded sessions section of our website at https://mzbierlyconsulting.webex.com.  If you have questions about our webinars, call Susan Lersch at 610-296-4771.

 

 

 

What Got You Here Won't Get You There: Bank Sales Leader Edition

  
  
  

A new book by Marshall Goldsmith, Don Brown and Bill Hawkins entitled “What Got You Here Won’t Get You There in Sales” lists 16 habits that can trip up even the most experienced salespeople. It includes some that may surprise you—throwing others under the bus, never having to say you’re sorry, and explaining failure are three that I had never thought of before. The authors provide practical pointers on how to remedy them, which may help you give up these bad habits.

While there’s plenty of food for thought here for sales leaders, I suspect that there’s a sequel out there for them. This is, after all, based on Goldsmith’s blockbuster business best seller “What Got You Here Won’t Get You There” for aspirants to the C-suite.

If they wrote one for bankers, what would it include? Here’s a start on the habits and behaviors that hold many first-line sales managers back:

  • Relying on a few heroes to make your team goals
  • Letting average-performers determine which prospects to call on
  • Coaching only people who are behind in their goals
  • Holding sales meetings “only when we need them”
  • Thinking everybody should  “just work harder”—sales isn’t rocket science after all
  • Believing that money motivates everybody
  • Failing to invest in training for themselves and their teams
  • Waiting to be invited on sales calls
  • Not keeping their recruiting hat on at all times
  • Grousing constantly about the competition
  • Losing patience
  • Going through everybody’s pipeline in team meetings
  • Always believing your team members’ post-mortem comment on lost deals that it was really “all about price”
  • Engaging only in water cooler coaching
  • Failing to show up enough in your remote offices
  • Worrying about stuff you can’t control
  • Not scheduling 1 on 1 time with all your team members on a regular basis
  • Not giving timely feedback
  • Avoiding confrontation
  • Not delivering consistent messages
  • Thinking “good credit skills” qualifies a banker for a sales leadership role
  • Shying away from coaching “seasoned veterans”

 

If you’re looking for insights into how to tackle any of these habits, here are two suggestions that won’t cost you anything:

  1. Get some feedback—or what might even be better, “feed forward” (another Goldsmith term)—from your team or from another sales leader. 
  2. Check out our blog on sales leadership at http://www.mzbierlyconsulting.com/bank-sales-corner-blog/

If you’re looking for more specific tips on what successful sales leaders do, join us for our November 21 webinar on Coaching Commercial Relationship Managers in Challenging Times.  For more information go to http://www.eventspan.com/event/2011-11-21-strategies-for-sales-leaders.

You can register online at https://mzbierlyconsulting.webex.com or call Susan Lersch at 610-296-4771 to sign up for the session. We accept Visa and MasterCard for online payments. We offer discounts for 3 or more lines from the same institution. If you can’t make the live sessions, a recorded version will be available 24 hours after the live webinar.

 

 

 

 

 

Smart Things Bank Sales Leaders Say (and Do)

  
  
  

It’s easy to overlook the smart things bank sales leaders say. Here’s a list of recent quotes:

  • The most important things in the sales process are follow-up, coaching and positive reinforcement.
  • If you choose the right people for the job and they’re willing to learn and try new things, they will make progress.
  • Positive reinforcement works.
  • I have learned that my team wants more feedback from me.
  • The most important thing I’ve learned is that you must stay aggressive at all times. You can never have enough deals in the top of the funnel.
  • I need to focus on the day to day activities that will make my team successful.
  • Holding people accountable is critical to success.
  • We are always trying to hit home runs. I need to keep preaching singles and doubles. The small victories add up.
  • I have to schedule the time to conduct 1 on 1 coaching sessions with my team. If it’s in my calendar it will happen.
  • We need to work our prospect lists as a team.
  • Each team member has different strengths and weaknesses and my coaching must take that into consideration.
  • People will generally do what you ask of them if you provide a clear message of what you expect and appropriate support.
  • I need to spend more time with my team leaders and ensure they are coaching their folks. If I coach them, they will coach their people.
  • What message would making that loan send to your team? (From one sales leader to another)

If you’re looking for insights into what successful sales leaders do, join us for our November 21 webinar on Coaching Commercial Relationship Managers in Challenging Times For more information go to http://www.eventspan.com/event/2011-11-21-strategies-for-sales-leaders.

You can register online at https://mzbierlyconsulting.webex.com or call Susan Lersch at 610-296-4771 to sign up for the session. We accept Visa and MasterCard for online payments. We offer discounts for 3 or more lines from the same institution. If you can’t make the live sessions, a recorded version will be available 24 hours after the live webinar.

 

All Posts