“Sales”It’s not a Four Letter WordPerry School of Banking

Eric Cook

Monarch Community Bank

Alicia Cook

Chicago Title Insurance Company

Introduction Eric Cook

Regional President, Monarch Community Bank Graduate School of Banking, UW Madison MBA, Western Michigan University

Alicia Cook State Sales Manager, Chicago Title Insurance BA, Western Michigan University Over 15 years of “real-world” sales experience

with proven results

Objectives What IS sales (and what it’s NOT) Understand why sales is important Introduce you to the sales process Provide examples of basic sales tools Develop a personal 90-day “action plan” Sales resources to keep you motivated

Horror Stories??? Can Ihelp you?

Doing it Right

Why Sales?

Competition

Competition

Prosper.com - The Next eBay?

Why Sales?

Competition is growing Customers are more educated Customers are less loyal Evolve from the “order taker” mentality

Bankers do what we are asked Meeting expectations is no longer enough

Needs to involve EVERYONE Be patient – it will take TIME!

Objectives

StrategiesPlayers

The Sales Process

Revenue, Wallet/Market

Share

(Measure)

Customers, Prospects & Employees

(Involve)

Tools, Awareness, Networking, Education &

Support

(Utilize)

Sales Objectives & Players

Sales: The ObjectivesGoals Define what you want to accomplish

Be specific Establish an annual goal and break

it down by month Be “SMART” with your objectives

Specific, Measurable, Attainable, Realistic and Timely

Everyone needs to have a goal (measurable on a monthly basis)

Rewards

Sales: The PlayersTargets – Current Customers

Know who’s doing business with you now Deposits

Core vs. non-core

Loans Consumer, residential and commercial

Electronic Services Online banking, bill payment, debit cards, direct

deposit, etc…

Sales: The PlayersTargets – New Prospects

Identify other areas where you could generate business Understand your niche and what’s working Major employers

Education, healthcare, manufacturing, service

Realtors and brokers Referrals (“refer-a-friend” program) Others???

Current customers Go after additional “wallet share”

New prospects Understand what you are doing well

Pareto’s Rule: 80/20 analysis Spend your time wisely

Reports/MCIF system Assists with identifying profitable customers and

prospects for more business

Sales: The PlayersCreate a Target List

Sales: The PlayersEmployees Executive-level commitment Sales

Front line (Tellers, CSRs & New Accounts) Loan Officers (commercial & residential) Branch managers

Support Accounting Processing Marketing/Advertising Operations & IT

Strategies

Sales: StrategiesRetention & Enhancement – Current Customers Ensure that others in your organization know your

“key” customers Create a “milk route”

Get out and visit with customers on a regular basis Reach out in other ways (phone, e-mail, etc…)

Follow-up Tie up lose ends, send thank you notes

Networking events Lunch-&-Learn, after hours or seminars

Sales: StrategiesAcquisition & Growth – New Prospects Ensure that others in your organization

know who you’re going after Create a “milk route”

Get out and visit with prospects on a regular basis Start to build a relationship (look for similarities) Work to get an appointment to “pitch” product/service

Follow-up Make phone call to ask for appointment if you don’t see

them, tie up lose ends, send thank you notes Networking events

Chamber, service clubs, association events & trade shows

Get your message out so people know who you are and what you do

E-mail Consistent frequency and message content/theme Needs to provide “value” to the reader

“Traditional” mail Postcards or direct mail letters on products, services or

special bank news Other methods

Lobby signs, posters, stuffers, testimonials, statement messages, lobby displays, leave-behinds, etc…

Sales: StrategiesOutreach & Awareness

Break(15 minutes)

Strategies(continued)

“Meet & Greet”

Sales: StrategiesNetworking At least three functions per month

Bank sponsored functions Lunch-&-Learn, seminars, breakfast meetings

Associations and trade shows Realtors, Home Builders

Service group Rotary, Exchange, Lions Club

Always have an objective Meet people, talk about new products/services, schedule

an appointment, get more business

Sales: StrategiesLearning & Education

Know the products and services you have to offer (and your competition too)

Understand the sales process Make time to educate yourself (personal & business)

Internet, webinars, journals, books, & CDs Service providers like Deluxe (Knowledge Exchange) Trade shows, conventions, networking

Sales: StrategiesLearning & Education

YourIndustry

YourJob

Personal

Sales: StrategiesOngoing Support & Results

Everyone needs to be on board Sales goals and process

Weekly meetings to compare actual to goal and keep on track Meet by department

Get Marketing department support

Continue to adjust

Sales Tools

Sales: StrategiesProcess Tips

Your personal “brand” Theme, taglines,

personal profile, 30-second commercial

Personal Brand Some simple

examples

Professional Profile

Sales: StrategiesProcess Tips

Your personal “brand” Theme, taglines, professional

profile, 30-second commercial Preparing for the meeting

Preparing for the Meeting Research your customer – Visit website Review current business – Internal reports Assemble presentation materials – Proposal POST (People, Objective, Strategy & Tactics) VALUE (Vision, Attitude, Likeable, Unique &

Excitable)

Sales: StrategiesProcess Tips

Your personal “brand” Theme, taglines, professional profile, 30-second

commercial Preparing for the meeting Sales “1-2-3”

Sales “1-2-3”Opening

Compliment, thank you, objective

1. What’s “broke” Why aren’t we getting 100% of your business now?

2. Match solutions Know your products and services to offer solutions

3. Next steps Set future business steps or follow-up meeting

CloseAsk for business and/or referral

Sales: StrategiesProcess Tips

Your personal “brand” Theme, taglines, professional profile, 30-second

commercial Preparing for the meeting Sales “1-2-3” Technology tools

Technology Tools CRM system

Excel, Outlook, Groupwise, Goldmine, ACT! Assists with managing customer contacts (sales

cycle) Helps with accountability

Laptop, cell phone, PDA Website & Blogs

Sales: StrategiesProcess Tips

Your personal “brand” Theme, taglines, professional profile, 30-second

commercial Preparing for the meeting Sales “1-2-3” Technology tools Know your ABCs

Always Be Closing

Building an Action Plan

Resources & Motivation

Resources and Motivation You are changing a

culture, it will not happen over night

Don’t be afraid to start small

Rely on outside resources to learn See Resource Page

Stay motivated and don’t give up

30-Day Personal Commitment Creates a promise to

yourself Complete in duplicate Address an envelope You WILL see these

again… Good luck!