Banks that spend too much time worrying about sales culture should instead focus on guidance, support and communication.
Cross-selling can boost institutional profitability if banks identify the appropriate sales opportunities, improve the customer encounter and monitor training and reward programs.
While growing in the current environment may not seem easy, it can be achieved if banks are willing to reorganize sales processes, take advantage of Big Data and partner with alternative providers.
Getting the most benefits from CRM requires putting transforming your company to a customer-centric organization before implementing the technology.
As banks renew their focus on middle-market lending, they may need to take a closer look at existing sales management and processes.
Using customer data at the point-of-sale with eligibility analytics can help banks implement a simpler and more efficient sales process.
Affluent customers can’t pay for the entire flight; instead, a high-volume sales effort to mass market consumers is critical in covering the fixed costs of retail banking.
Successful cross selling requires a cross-functional team approach that is led by marketing but includes customer service, sales, executive leadership, and information technology.