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Growing Loans: 4 Tips for Generating More Leads

  
  
  

Almost every banker I know is behind on his loan goals. Here are four things you can do to improve your chances of booking more assets in 2010:

Differentiate between Sales Strategy and Credit Strategy.

  • Credit is a solution to a need. How the solution is positioned, discussed, and matched to both short-term and long-term needs is selling.
  • A high-performing salesperson does two things:(1) Ensures that what a decision maker “says” is his need “really is” his need and (2) Shows how the approved loan really is a match for the determined need.
  • Determine your sales strategy before you begin the term sheet, not after it languishes: To whom am I selling? What are their jobs? What are their needs/interests/values? How do I change my sales approach to meet their value systems?

Discuss regularly with your Sales Manager the types of business that match your bank's credit quality and profitability objectives.

  • Study your market. Focus on the businesses that best match your business objectives. Be clear about your bank’s credit appetite for certain types of business. If you’re unsure how a credit opportunity will be received, have a pre-flight discussion with your credit partners.
  • Before you push out a term sheet talk through your pricing strategy with your manager. How aggressive can you be?

 Manage Your Market, not Just Relationships.

  • You are a market manager, managing growth in all sources of business from customers, prospects and COIs.
  • Your objective is to grow wallet share and market share.
  • Face-to-face is the best way to sell. Get out from behind your desk.
  • Behind great bank Relationship Managers are great administrative support people. Get the support you need.

 Think Like a Business Owner.

  • Your job is to understand the owner and his business and anticipate his needs. Write RFPs, don’t respond to them.  
  • Educate your customers and prospects. Share ideas and recommendations. Be a resource to your customers and prospects.
  • Sell at the right level. Decision makers and influencers have different value systems. Get in front of decision-makers early in the process.

If you have questions about how we help commercial and business banking sales teams through onsite sales training, webinars and consulting, call Ned Miller at 610-296-4772. Check out our website http://mzbierlyconsulting.com for more ideas on how to generate more loan opportunities. You can sign up for our blog at http://www.mzbierlyconsulting.com/bank-sales-corner-blog.  Recent topics include:

  • Business Development Doesn’t Take a Vacation: 9 Ideas for Bankers
  • Preparing for a First Call
  • The Five Mistakes Bankers Make on Sales Calls
  • How to Ask Customers for Referrals

 

  

 

 

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