Cost shifting banks don’t just absorb change—they remain profitable and relevant through technological upheaval and branch attrition.
Successful cross selling requires a cross-functional team approach that is led by marketing but includes customer service, sales, executive leadership, and information technology.
The contact center has become the first line of defense in ensuring that a sale lost to the branch does not become a sale lost to the bank altogether.
To strengthen bonds with commercial customers, banks need to reorient the role of relationship managers to more sales activity and credit authority and less administrative and compliance work.
Mobile banking can be an effective sales tool for banks but only if used in conjunction with other sales channels, say BAI Retail Delivery 2012 speakers.
Now that the branch sales force can no longer be financially justified on the strength of walk-in traffic, it’s time to embrace profit-based metrics to drive sales productivity.
With the popularity of their industry at low levels, banks need to train and fortify their employees for speaking to unhappy customers.
Will branch staff cuts exacerbate the revenue crisis in retail banking? Much hinges on boosting sales productivity from the remaining employees.