Your Pipeline Report

Three Reasons Your Pipeline Report Is A Poor Sales Management Tool

95% of banks use a pipeline report as the primary means of managing sales. The only problem is your pipeline report provides important data on where a deal is in the underwriting, documentation, and funding processes…but tells absolutely nothing about the marketing and business development activities that created the deal. Said another way, your pipeline report is an excellent funding tool, but a poor sales management tool.

If you’re still using a pipeline report as the sole sales management tool, then your bank’s sales culture is stuck in the 20th century and is in desperate need of modernization. In this blog, I’ll provide three reasons why it’s imperative to address modernizing your sales culture in 2021. Read more

Is Your Bank Ready For Predictive Sales Management?

How Sales Managers Can Better Assist Commercial Lenders To Achieve Their Annual Sales Goals

On January 1st of every year, we in sales face the same dilemma, how are we going to meet or exceed our sales goals for the year? It all comes down to how are we going to invest our time and which path will provide the most direct route to sales goal attainment? It’s easy to become unfocused as we look for and pursue various sales opportunities. This point is reinforced by the following data: Read more

To Grow Loans In 2021 (And Preserve NIM), You’ll Need “Blue Ocean” Sales Strategies

Which would you prefer ─ to compete against 3 to 5 other financial institutions or compete against only one other bank?

Now it’s not a trick question. But why do commercial lenders consistently put themselves in an unenviable position of having to compete against 3 to 5 other institutions to close a transaction? Why do commercial lenders consistently pursue sales opportunities where at best they are positioned as a commodity where rates are a primary differentiator? Read more

Bank PPP strategies

It Takes More Than Deposits To Create A Banking “Relationship” With PPP Customers

If I’ve heard it once, I’ve heard it hundreds of times. Over the recent months, when discussing a bank’s experience facilitating PPP loans, the banking executive I’d be talking to would say, “when we made a PPP loan to a non-customer, we required them to bring over their deposits.” And what was so interesting about this very predictable reoccurring response was the tone each banker used when saying the words “we required them to bring over their deposits.” There was almost a victorious tone to their communication as if to say, “we achieved the goal of creating a banking relationship”.
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Banking Pandemic

Three Things Your Bank Can Do To Convert PPP Customers Into Full Banking Relationships

If your bank is like a lot of banks, you did more business in a few weeks, than you did in the past 5 to 10 years because of the SBA’s Paycheck Protection Program.  Congratulations, the value proposition of being a community bank has never been stronger! Hundreds of thousands of smaller businesses learned very quickly that having a relationship with a banker who cares about them has real value.

So now what? Successfully on-boarded PPP customers offer an excellent opportunity to improve bank performance on several levels. Read more

Efficiency Throughout Your Sales Process

Driving Efficiency Throughout Your Sales Process

By Ray Adler, CEO BTI Growth Advisors, Inc. This blog shines a light not just on the inefficiencies in your bank’s sales efforts but also why banks are having such difficulties evolving with the times. To better understand the difficulty banks are experiencing in their efforts to evolve and improve performance, we don’t need to […]

The Secret of the Top 10% of Sales Reps

What separates the top 10% of sales personnel from the bottom 90%?

They are diligent about how they spend their time.

In banking, and likely many other fields, there is always something to do to take care of your customer. When you place your focus on always serving, the marketing function doesn’t happen. And when you stop marketing, your pipeline flatlines! I don’t know about you, but I hate waking up a 3 a.m., staring at the ceiling, wondering where my next deal is coming from. Read more

Center of Influence

How Pruning Your Traditional COIs Spurs Growth

Banking landscapes for the last twenty-five years have been extremely favorable for the industry. The economy has been strong and vital. The stock market has reached highs never experienced before, and interest rates have been at historical lows.

It’s safe to say that the financial services industry has benefited from a tailwind. We’ve enjoyed a good run.

And yet… Read more

Ton Brady Coaching

Coaching Employees Is A Far Less Costly (and More Effective) Solution Than Replacing Them

Tom Brady is arguably one of the greatest quarterbacks to ever play the game of football; however, Tom Brady strives continuously to improve his performance by working with a coach – namely the Patriots tight-end coach Nick Caley, who also serves as Tom Brady’s “broken-play” coach.

Banking isn’t much different than football. There are always broken-plays to adjust to, and a bank’s sales team needs to be receptive to coaching or it’s all for naught. If a seasoned veteran like Tom Brady is receptive to coaching and making small improvements, there’s no reason why bankers of any tenure shouldn’t be open to refining and honing their strategies, processes and behaviors. Read more

culture happiness

Building a High-Functioning Culture Takes Planning

Tony Hsieh, CEO of Zappos, famously said, “If you get the culture right, most of the other stuff will just take care of itself.” It’s apparent that they’ve gotten something right.

Recently, Eric Chester, who is described as “The Expert on Finding, Engaging, and Keeping Great Employees” visited Zappos headquarters in downtown Las Vegas. Here’s what he discovered –– aside from what he describes as an atmosphere that “radiates individuality and personality with a spattering of controlled chaos thrown in for good measure,” which he wrote in his blog I Got Zapped!  3 Surprising Facts About the Culture of Zappos.”

  1. There are no walls or silos. Top executives are accessible and sit at the same style of desks as employees in the call center –– even Hsieh himself.
  2. Feeling depleted and need a nap? Rather than sitting at a desk, employees are encouraged to slip off to a hammock. That way they’ll be refreshed and bring the best to the customer experience.
  3. The “Customer Loyalty Team is encouraged to transform a faceless point-and-click sale into a warm and friendly experience.” How? By sending handwritten, personalized notes to customers –– a novel idea in this digital age.

Chester says, “It’s what you do for your people that goes beyond what they expect that ultimately determines the level of their engagement. Great cultures never stop evolving.”

Essentially, it takes an intentional leader to create a strong culture –– one with vision and the ability to share that vision across the board –– and one who is always willing to change what needs to be changed. Read more