Jerry Bradley
Oct 18, 2019

In an effort to drive revenue, banks continue to place inordinate time and attention on improving sales culture. Experience shows this effort often ends up fruitless and yields disappointing results. Wells Fargo’s toxic sales culture mentality and the phantom account scandal represent a textbook case of the consequences financial institutions can face. For starters, definitions of “sales culture” are […]

The buying process has changed, and the sales function must follow.

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In recent years, banks have been focused on driving costs out of the branch network with self-service technology, branch closures and staff reductions.

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As consumer digital migration drains ever more branch traffic, banks have been working through a delicate transition with branch staffing.

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We all love lists, particularly those New Year’s resolutions for improving our businesses and ourselves.

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It’s common knowledge that it’s easier and cheaper to sell to existing customers than to attract new ones.

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Bankers need help selling to demanding, savvy customers in all channels.

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Stretching back to the 1980s, a key worry with branch consolidation has been customer attrition, or the risk that accountholders will take their business elsewhere if their anchor local branch is closed or merged with another location.

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Many banks are now in the midst of their budget and planning seasons, aimed at improving efficiency and performance in 2016.

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For 15 years or more, marketers in retail banking have heard that delivering “the right product to the right customer at the right time” will yield the maximum conversion rate, product penetration and benefits of loyalty and net promoter score that come with a strong multi-product relationship.

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Recruiting is a big problem for most banks and financial firms.

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It’s a common belief that banks should implement social media with the sole purpose of making a sale online.

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A typical community banker would have you believe that they have built great relationships with their customers.

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Managing a decentralized branch network presents challenges for banking executives.

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There’s no such thing as a field of one’s own in commercial lending.

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In the past two years, banks have focused on building their equipment finance and leasing groups.

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How should banks compensate sellers? Sales vice presidents want simple and motivational plans with upside potential to attract and retain the best talent and to grow the top line.

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Years ago, I was trying to set up a meeting with the head of a small business group at a top five bank.

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With banks increasingly underscoring the importance of sales, more institutions are rethinking how they identify, attract, hire and retain the next generation of employees required to handle the expectations and needs of consumers, say panelists at the upcoming BAI Retail Delivery 2014.

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As competition heats up from the likes of Walmart, PayPal and other shadow banking organizations, financial institutions need to improve customer engagement in order to increase wallet share, customer acquisition and retention.

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