BANK BUSINESS DEVELOPMENT TIPS Presented by BankMarketingPros.com
Providing Proven Ways to Increase Any Bank’s Customer Revenues and Market Share December, 2004
Author, Speaker, Consultant & Coach, Rick
Wemmers
Tip # 1 – Business Growth Goals As this year ends I am reminded to urge you to set your personal and business goals. Remember, if it isn’t written, it doesn’t get measured or done. Here’s what I have seen work best for bankers: • • • • •
Make goals short – in length and number. (no more than 5) Tie business goals to personal goals – leverage both for best success. Once a financial goal is set, double it. (YES, double it!) Leverage others to help reach your goals quicker and easier. Review all goals monthly – change if necessary.
Tip # 2 – New Account Call Improvement When the New Year starts take immediate action to objectively measure the strengths and weaknesses of your calling officers…all of them. There are numerous, quick ways to gain these insights about each individual that you don’t see, don’t really know and they won’t ever tell you. Why wait? If you want significant growth in 2005 you need to take action in January to identify your best and worst sales people. With this information you can design helpful sales training and coaching steps. Stop carrying poor performers who will hold your growth back another year! •
The average sales force has 22% poor performers, some of whom are always bluffing performance.
Tip # 3 - Target Your Business Prospects Throw away your marketing/sales shot guns and focus on those new accounts that are most likely to be interested and will “fit easily” in your bank. There is an abundance of business information available to identify prospects that will be easier to sell than others. Stop wasting time and money “hoping to hit something” by having long prospect lists and trying to be attractive to everyone. Build a list of no more than 12 prospects and focus your best resources on those before contacting others. Research – prepare - focus – close! • •
Sales growth increases 25+% with targeted selling. Are your sales meetings filled with excuses?
Tip # 4 - Dealing With Price Shoppers Wouldn’t you love to do away with people who just want a price quote for a loan or certain bank service? You can do it by wrapping the most commonly “shopped” items into various service packages. For example: Offer loan packages that include more than the loan, e.g. checking, safe-deposit box, bonus interest on IRAs, etc. In this way, those shopping for specific prices will be forced to consider the “full value” of doing business with your bank verses another.
Selling Facts (current insights on key issues) Loyalty Programs: a/ 40% of longtime members never redeem awards; b/ price cuts affect short-term loyalty but not long-term loyalty. Television Ads: Men between the ages of 18-34 are watching significantly less network TV. Branding: 50% of a bank’s reputation is linked to the CEO’s personal reputation. Big banks are increasing their number of consumer service packages.
Insights Into CEO Gray Matter What are the marks of a great bank CEO? Strong curiosity. Good sense for company history. Appreciation for the geographical influencers. A clear vision that others know as well. Knowing the importance and differences of people. Having a great passion for their work and life. What emotions drive CEOs? (In order of importance.) Fear. Power. Money.
Biggest Obstacle to Sales Growth – CALL RELUCTANCE This has been proven over 25+ years of research, study and application to thousands of companies, hundreds of products, world wide. Virtually every sales person has at least one of the 12 forms of Call Reluctance which seriously affects their ability to get new customers. Since rapid sales growth must come from new customers, Call Reluctance is the big handicap! Graduates of the official Call Reluctance training have increased their sales prospecting performance by as much as 50%! The comes from having each sales person identify in their own words what Call Reluctance problems they have and how they are going to correct it.
Send two of your most deserving sales team members to our next class. They will come back re-charged and ready to set new sales records in 2005 – guaranteed!
Call Reluctance “Cure” Workshop Perfect for any sales person who wants to improve his or her future sooner rather than later. This day and a half workshop will clearly identify any Call Reluctance challenges and show how to improve them. Every attendee will leave with more confidence in making more cold calls and closing more sales quicker. Money back guarantee!
Atlanta, GA – February 16 & 17, 2005
Call
for details. 770.565.8727
Or Email:
[email protected]
Interesting Web Sites Want good southern bluegrass music? – www.sebabluegrass.org Can’t remember words to a favorite song? – www.lyricsdepart.com Are you a weather enthusiast? – www.stormtrack.org Want latest trends in technology industry? – www.newsfactor.com Want good photo prints? – www.snapfish.com Want to find lowest prices? – www.pricegrabber.com
Funnies ☺ You might be a redneck if: ☺ Your boat hasn’t left your driveway in 15 years. ☺ You burn your yard rather than mow it. ☺ You know how many bales of hay your car will hold. Rick will be giving business executives new growth ideas in the following cities: Tampa, Florida Buffalo, NY Atlanta, GA Charlotte, NC Atlanta, GA
January 5 & 6 January 20 January 26-28 February 7 February 16 & 17
Call
770.565.8727 or Email:
[email protected] for details on reservations. Rick is also available for:
In-House Training
Conference Speaking Personal Employee Coaching Strategic Planning Retreats Keynote Speaker
Rick has conducted customized workshops for the following bank organizations: Independent Community Bankers Association Indiana Bankers Association Missouri Independent Bankers Association New Jersey League of Community Bankers NVE Bank Center for Financial Training Independent Community Banks of Illinois Independent Bankers of South Carolina
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Hot CEO Book for 2005! “CEO Tools: The Nuts-n-Bolts of Business for Every Manager’s Success” by Kraig Kramers is the best business I read in 2004. It has powerful, proven ways to jump company revenues and/better manage what exists. It is a quick, easy read and a great on-going reference tool. Go to Kraig Kramers’ web site: www.ceotools.com and order your copy today. It will make 2005 better than you ever dreamed of for your company’s growth. I love it and use it in my own consulting work.
Rick Wemmers www.BankMarketingPros.com 770-565-8727
[email protected] 4955 Olde Towne Way, Suite 300 Atlanta, GA 30068 To unsubscribe email
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