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Everyone Can Turbo Charge Their Sales Management
– Darrell Noble
• Ent Federal Credit Union– [email protected]
– 719-550-6248
HOW TO TURBO CHARGE YOUR:
• SALES ATTITUDE
• COACHING
• PROCESS MANAGEMENT
• EFFECTIVENESS OF INCENTIVES
Sales Attitude vs. Service Attitude
Top 10 expectations of a Frontline lender
10. Represent my CU accurately
9. Build relationships with Members
8. Identify Member’s needs
7. Match our solutions to those needs
6. Explain how & why of our solutions
5. Ask for the Member’s business
4. Attempt to overcome objections
3. Follow up with Members that say no thanks
2. Ask for referrals
1. Do all this for $12.50 an hour
Sales Service
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Sales Attitude vs. Service Attitude
Source: The Gallop Blog
SALES ATTITUDE
TAKE AWAY/TO-DO ITEM #1
• Review Your Job Descriptions
• Review Your Last Recruitment Ad
• Review Your Training Manuals
• Review Staff Performance Improvement Plans
• Review Staff Performance Appraisals
COACHING
Practice Makes Perfect….Better
• Rapport/Engagement/Trust
• Discovery/Questioning
• Building Value
• Asking for Business
COACHING
Engagement
e.g. Problem e.g. Practice e.g. Homework
MSR doesn't attempt to engage member when
taking a loan app
Go to a coffee shop and attempt to get the
barista to pay you a compliment.
Write down: How you began conversation?
What was awkward? What would you do
differently next time? What about the
interaction can you apply to your day job?
MSR Cannot engage member when taking a
loan app
Type your name and address repeatedly in to
a word document without looking at the screen
while holding a conversation about your
(anything ridiculous goes here)
While watching favorite TV show, do best to
transcribe script (in real time). Discuss in next
meeting if were able to enjoy show as much.
Other observations
MSR engages member too late in
process/after attempting to gain business
Outline 3-5 questions you can ask before
asking for member's account number. Outline
3-5 questions you can ask before quoting a
rate. Practice these
Call competitor and act as a consumer looking
for information on a HELOC. Document what
rep did well to build rapport/trust. What did
poorly? Would you have proceeded with an
app based on desire to work with the rep
COACHING
TAKE AWAY/TO-DO ITEM #2
•Define What Problems Staff have in core competency areas:
•Find “practicable” actions for each problem
•Assign homework for each
Managing Sales
• Job Purpose
• Job Duties
MANAGING SALES
• Develop new and exciting products that consumers want
and can only buy from you (ideal)
• Improve sales performance to new members
• Improve sales performance to existing members
• Slow your runoff
• Improve ability to attract new members within your field of
membership (or) expand your field of membership
• Serve niche groups that others aren’t
• Price lower than everyone else (not ideal)
MANAGING SALES
TAKE AWAY/TO-DO ITEM #3
• Ask for a Lending Sales Plan or Develop one yourself for each
channel
• Do a S.W.O.T analysis on top 3 competitors
• Do a Competitive Comparison: Auto, HELOC, Home Equity,
Personal Loans (max ltv, terms, closing costs, rates, product
features, will do Bridge Loans? Will do PM2/Piggy-back refi?
Will do cash-out refi on auto?
• Review and document differences in your website compared to
HSN.com and Zappos.com and your Bank/Non-Bank
Competitors (as they relate to turning visits in to sales)
INCENTIVES
Vs. Goals Vs. Standards
INCENTIVES
TAKE AWAY/TO-DO ITEM #4
• Review existing lending incentive plans
• Who is being incentivized?
• For what?
• Answer Question: Are lending incentives paid for underperformance?
• Answer Question: Are lending incentives paid for the “unimportant”?
• Review non-lending incentives. Are Lending incentives competitive?
• What is in conflict?
• Answer Question: Where would redistribution of incentive better align
with lending goals?
Q&A
Thanks for joining me!