The Simplest, most effective and sustainable way to Increase Sales Productivity and Sales Revenue

33
© 2014 TRANSFORMING SALES & SERVICE

description

This presentation presents a simple and highly effective approach to increasing sales productivity and sales in financial institutions, but also applicable to any sales driven organisation in any industry. It addresses three key areas. The Sales Process; The Sales Leadership Process and a unique proprietary sales optimising technology platform, called Sales MeXimiZer which embeds and drives the sales and sales leadership processes. A combination of these three critical pillars, embed a customer centric, needs based, relationship driven sales culture in any firm / organisation.

Transcript of The Simplest, most effective and sustainable way to Increase Sales Productivity and Sales Revenue

Page 1: The Simplest, most effective and sustainable way to Increase Sales Productivity and Sales Revenue

© 2014

TRANSFORMING SALES & SERVICE

Page 2: The Simplest, most effective and sustainable way to Increase Sales Productivity and Sales Revenue

© 2014

THE

MOST EFFECTIVE WAY FOR

YOUR BANK

TO SIGNIFICANTLY INCREASE

SALES AND SALES REVENUE

ON A SUSTAINED BASIS

Page 3: The Simplest, most effective and sustainable way to Increase Sales Productivity and Sales Revenue

© 2014

Our “Sales” Experience

11 Countries 1000’s of

Salespeople

1000’s of Sale

Leaders

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© 2014

Our Team

Abul Rasa

COO

Aliya B. Haeri

Advisory Board

Ban Farrell

Managing Consultant

Ehsan ul haq

CTO

Haider Mehdi

President / CEO

Humayun Rashid

Advisory Board, Senior

Managing Consultant

Mashkoor Murshed

Senior Managing Consultant

Nabeel Malik

Advisory Board, Executive

Director - Canada

Reza ur Rahim

Advisory Board

Salman Munir

Advisory Board, Senior

Managing Consultant

Uzma Khan

Senior Managing Consultant

Yassir Pasha

Director - Pakistan

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© 2014

The Issues around Sales Productivity

Sales are down Competition

is strong

Need to increase

We want a structured

“sales discipline /

process” Are my sales people

doing the “right

things”, everyday?

We need to improve

“sales capability”

We need Sales

leaders to “be on

top of things”

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Issues that impact a firms Sales Engine

1. Sales channels.

2. Interrelationship

control and

coordination

between

channels

3. Employment

contract terms

4. KPI’s,

compensation,

incentives,

rewards

Structure Leadership

Capability

Roles /

Capacity

1. Portfolio based

Relationship

Management

approach.

2. Hunter / Farmer

Model.

3. Sales & Service

roles

4. Mono Line vs

universal “sales”

model

Processes

1. Sales Planning

Processes

2. Sales Engagement

Processes

3. Relationship

Management

Processes

4. Sales Leadership

processes

5. Sales Automation

Processes

Capability

1. Banking, Business,

Product, Competitor

knowledge

2. Opportunity

identification.

3. Planning,

Contacting,

Interviewing.

4. Pipeline

management.

5. Closing

6. Relationship

Management

1. Target setting and

Planning.

2. Tracking,

Measuring,

Monitoring,

Analyzing,

Reporting.

3. Performance

Coaching,

developing ,

rewarding

Page 7: The Simplest, most effective and sustainable way to Increase Sales Productivity and Sales Revenue

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Sales is a process …

With the Right Customer 3

At the Right Time 2

The Right Sales Conversation 1

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Ultimately it’s the “OPC-IPC” Sales Process

which drives Sales.....

O

OPPORTUNITY

P

PLANNING

C

CONTACT

C

CLOSE

P

PIPELINE

I

INTERVIEW

Page 9: The Simplest, most effective and sustainable way to Increase Sales Productivity and Sales Revenue

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IDENTIFY OPPORTUNITIES

MAKE SALES PLANS

CONTACT CLIENTS

CONDUCT INTERVIEWS

MONITOR PIPELINE

...Which means everyday a Sales person must.....

CLOSE

O

P

C

I

P

C

IN PUTS

OUTPUT

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…Therefore Leadership has to !

Track, Monitor, Measure, Report, Analyse, Intervene, Coach

INPUTS (Activities) to Get desired OUTPUT (Sales Results)

REWARD

TARGET

SETTING

ACTION

PLANNING

TRACKING

Activities &

Sales

BRIEFING

&

DEBRIEFING

SALES

OBSERVATIONS

SALES

MEETINGS

Performance

Managemnt

& COACHING

Only Focusing on OUTPUT – Sales Results has virtually NO benefit !

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Our Proposition

Deliver More &

Better

Opportunities

Embed and drive

the Sales Process

& Sales Culture

through SALES

MeXimiZer

Enhance

Leadership

Capability &

Effectiveness

Enhance Sales

Capability &

Effectiveness

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Principle 1 = Increase Q&Q of Sales Opportunities

Principle 2 = Increase Sales Effectiveness

INCREASE OPPORTUNITIES FROM EXISTING CUSTOMERS AND NTBs

10

Opportunities

& 30% Closing

Effectiveness

= 3

20

Opportunities

& 50% Closing

Effectiveness

= 10

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CASA

DEBIT CARDS

INTERNET BANKING

MOBILE BANKING

PHONE BANKING

TERM DEPOSITS

RETIREMENT

WEALTH PRODUCTS

INVESTMENT PLANS

PERSONAL

HEALTH

AUTO

BUSINESS

OTHERS

AUTO LOAN

HOME LOAN

PERSONAL LOAN

BUSINESS LOAN

CREDIT CARDS

Deliver More & Better Opportunities

The BSTP [Bus Stop]

B BORROWING

NEEDS

S SAVINGS

GROWTH

NEEDS

P PROTECTION

NEEDS

T TRANSACTION

NEEDS

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Opportunities from Cross Sell

Typical Retail Customer Needs 10 to 15 Products / Services

PERSONAL LOAN

CURRENT

ACCOUNTS

HOME

LOAN

SAVINGS

ACCOUNTS

CAR

LOAN

INTERNET

BANKING

FIXED DEPOSITS

MOBILE

BANKING

CREDIT

CARDS

PHONE

BANKING

WEALTH &

SAVINGS

PRODUCTS

INSURANCE &

PROTECTION

10-15 Products Average Cross-sell = 2

WHY? Huge Opportunities

Current & Future BSTP Needs &

Other Banking BSTP

Relationships

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Opportunities from Cross Referrals

From Different Customer Segments / Businesses

BORROWING

SAVINGS & GROWTH

TRANSACTION

PROTECTION

BORROWING

SAVINGS & GROWTH

TRANSACTION

PROTECTION

BORROWING

SAVINGS & GROWTH

TRANSACTION

PROTECTION

BORROWING

SAVINGS & GROWTH

TRANSACTION

PROTECTION MASS AFF

HNI

CORP SME

COMM

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Enhance Sales Capability & Effectiveness

ATTITUDE BEHAVIOUR KNOWLEDGE SKILLS PROCESS

Quantifiable and Measurable

Business, Banking, Product, Customer

Knowledge.

Sales Process & Planning.

Opportunity Identification.

Contacting.

Rapport building.

Questioning /Uncovering Needs.

Summarizing & Presentation.

Objection Handling.

Closing; Cross Selling; Cross Referring

Getting Referrals.

Tracking Pipeline.

Fulfillment & On-boarding.

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Deep analytics & reports 10

Enhancing Leadership Capability &

Effectiveness

Sales Accompaniments 5

Daily Briefs, Debriefs 4

Morning MEETS 3

Target Setting, Planning 2

All prescribed leadership

activities 1

Field audits &

observation 9

Capability sessions 8

Reward sessions 7

Weekly Sales meetings 6

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Embed & Drive the Sales Culture

FRONT LINE

STAFF HAVE

CAPABILITY

ON:

Generating Opportunities

Action Planning

Contacting

Pipeline Management

Closing

LEADERS

CAN:

Track, Monitor, Measure, Report

Coach & Develop Capability

Reward & Recognize

Embedded Through

Sales MeXimiZer

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What is the Sales MeXimiZer?

A unique Sales-optimization technology platform

Requires minimal IT resources 6

Analyses sales effectiveness 5

Monitors sales process implementation 4

Drives daily sales OPCIPC sales process from Opportunity to Close 3

Captures all Pre-Sales process data by sales person, product, customer,

segment & geography 2

Web-based, fully-automated Sales Management solution on your server

and finger tips (literally) 1

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SMeX starts where a CRM leaves off

Planning

Contacting

Interview/Meeting

Pipeline

Closure

Leadership is able to Track

Generating ratios & reports

Sales MeXimiZer moves the

opportunity to

Customer profiling for existing

& future Needs

Customer Leads / Referrals.

Data mining

Marketing campaigns

Transaction data analysis

Etc....

CRM is 1 of many different

opportunity sources of e.g..

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Customized Sales tools and scripts.

Bank Hierarchy, roles, functions, user name

ID’s

Pre formatted forms and tools to drive the

process.

Integration with email server

user friendly tools to plan, capture daily

customer engagement, conduct customer

needs profiling, use sales scripts

Features

All Customer data with product holdings,

portfolios

All Products by name, ID, segment,

business.

All sales-persons data (RM, PB, etc) tagged

to customer

All bank employee data

Data sync routine with CBS.

Features

Sales MeXimiZer comes Pre-configured

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SMeX Provides Sales Process Functionality

“Pipeline” to “Close” or removed from process 7

“Opportunity” to “Pipeline” or removed from process 6

Fresh Contact plans created automatically, with ‘Next Steps What” and “Next

Steps When” functionality 5

“Contact Plans” 4

“Opportunity” lists 3

“Master” List; Existing Customers, Prospects 2

SMEX users, products, geographies, businesses, segments 1

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SMeX Provides Customer Functionality

Review, analysis of

customer portfolios 5

Instant tagging of

customers 4

All products 3

Client Profiling;

current/future needs,

other relationships 2

Client Details, personal,

professional, products,

history 1

Customer attrition 9

Leads/Referrals from

customer 8

Cross referrals 7

Transfer Portfolios 6

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Deep analytics & reports 10

SMeX Provides Leadership Functionality

Sales Accompaniments 5

Daily Briefs, Debriefs 4

Morning MEETS 3

Target Setting &

Planning 2

All prescribed leadership

activities 1

Field audits &

observation 9

Capability sessions 8

Reward sessions 7

Weekly Sales meetings 6

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Provides REAL-TIME info from CEO to RM

Find out What’s working,

What’s NOT, Where and Why?

MOST IMPORTANTLY

What to do, Where & When?

Targeting, Tracking, Monitoring, Measuring

Activity & Results against targets every

MINUTE on your fingertips!

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Provides every report ever wanted

& What to do to increase Sales

I want to increase sales from x to y by 30th June 2014 - What

should I do?

I wonder WHY Haider consistently sells more and what does

he do?

I wonder WHY Team X has done better than Team Y in Sales

this week?

I wonder WHY we sold more last quarter vs this quarter?

NO analytics team to create reports! Simple drag / drop to

create your own. Save your favorites!

Page 27: The Simplest, most effective and sustainable way to Increase Sales Productivity and Sales Revenue

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Quick Implementation

2 to 4 Months – Pilot - 30 Branches

PHASES ACTIVITY

PHASE 1

Investigation & Analysis

1. Understand sales culture

2. Collect information & data

3. Project Planning

4. Program implementation

architecture

Customization/Deployment

1. Customization of processes.

2. Documentation.

3. Implementation plan

4. SMeX Configuration &

deployment .

Implementation Launch

1. Train the Trainer .

2. Senior Leadership.

3. Pilot branches Leadership.

4. Sales teams

5. Sales MeXimiZer platform

Pilot Field Audit & Coaching

1. Audit process implementation .

2. SMEX usage & implementation.

3. Coach Leaders, branch staff.

4. Refresher Training

Phase 1

Phase 4

Phase 3

Phase 2

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Implementation Architecture & Ownership

is Critical to Success

FUNCTION ROLE

CEO/Head of Retail, Group Heads

Marketing, HR, Finance, Ops Has Program ownership, with full responsibility for program success.

8 - 10 People, Long-term, Full Time

Headed by a senior Program Head with Regional (geographic)

Change Managers & Data, Communication and Logistics Specialist.

To train, coach and embed new process and culture.

Short-term, Temporary

Comprise reps from Distribution, other businesses, Finance,

Customer Service, Products, Marketing, HR, Operations to provide

data, information and access.

Steering Committee

Program Support Team

Change Management Team

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What Starts to Happen?

More Referrals 5

More Cross Sales 4

More Sales 3

Less Missed Opportunities 2

More & Better Opportunities 1

Sales Opp Missed

Sales Opp

Referrals Sales Cross Sell

100

80

20

10 5

150

20

110

80

60

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Quantifiable BEFORE and AFTER Measures

CASA Sales

Productivity per

Banker

Retail & Business

Assets Sales

Productivity per

Banker

Wealth, Banca,

Card Sales

Productivity per

Person

Cross-sell Ratio

per New to Bank

Customer

Customer

Engagement &

Loyalty

Measures

AND A DISCIPLINED CUSTOMER CENTRIC, NEEDS-BASED SALES CULTURE

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What’s the Investment?

ROI in less than 6 months 3

$60 per month per branch or a Sales Team of 10

sales people, calculated for a 5 year period

Just $ 2 a day!

2

Less than what you pay your branch cleaner 1

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1. Increased sales.

2. More new leads, and opportunities

3. Highly effective daily planning,

sales effectiveness and execution

4. Better customer information

5. Embeds a customer-centric

relationship drive, needs based,

sales process

1. Increased sales

2. Accurate forecasting, planning and

projections

3. Real-time tracking of activities and

performance and immediate

intervntions.

4. A team-centric coaching &

leadership culture

1. One-stop shop for all current and

future needs

2. Increased Customer loyalty,

satisfaction & retention.

3. Convenience of Personal and

Business “circles” banking at the

same institution.

The Benefits & Recap

Benefit for

Bankers

& Relationship

Managers

Benefit for

Bank & Business

Leadership

Benefit For

Customers

Page 33: The Simplest, most effective and sustainable way to Increase Sales Productivity and Sales Revenue

© 2014

Thank you &

QUESTIONS?

[email protected]