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 […]

Many banks aspire to change their branches from service centers to sales centers but with only marginal success.

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Bankers all agree that they need to improve their productivity as operating expenses rise due to diverse factors, including increased compliance costs, continual technology investments, and the need to add more channels while maintaining the old ones.

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Cross-selling, or persuading customers to purchase additional products, is one of a bank’s most powerful and efficient revenue-boosting tools.

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It is hardly new news that many banks are struggling to grow, constrained as they are by a still-slow economy, an overly aggressive regulatory environment and an often cautious customer base.

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By the late 1990s, many banks understood the deficiencies of the product-centric model and began to consider the transformation needed to become customer-centric.

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As banks struggle to generate new revenue, more are increasing their focus on middle-market companies (typically $10 million to $100 million in revenues) because they are attractive clients for lending, fee generating products and cross-selling.

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Retail banking has never had to focus on a comprehensive sales process.

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Since the recession there has been a pronounced flight to quality in consumer banking, particularly in the checking business.

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So, when was the last time you went to a meeting and the subject of cross selling didn’t come up? In all likelihood, the conversation turned to the results of the latest cross-selling campaign, the plan for the next one and the projected return on investment (ROI).

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Banking contact centers primarily have functioned as service hubs for customers who call for information or help with a problem.

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