Everyone Can Turbo Charge Their Sales Management

– Darrell Noble

• Ent Federal Credit Union– dnoble@ent.com

– 719-550-6248

HOW TO TURBO CHARGE YOUR:

• SALES ATTITUDE

• COACHING

• PROCESS MANAGEMENT

• EFFECTIVENESS OF INCENTIVES

Sales Attitude vs. Service Attitude

Top 10 expectations of a Frontline lender

10. Represent my CU accurately

9. Build relationships with Members

8. Identify Member’s needs

7. Match our solutions to those needs

6. Explain how & why of our solutions

5. Ask for the Member’s business

4. Attempt to overcome objections

3. Follow up with Members that say no thanks

2. Ask for referrals

1. Do all this for $12.50 an hour

Sales Service

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Sales Attitude vs. Service Attitude

Source: The Gallop Blog

SALES ATTITUDE

TAKE AWAY/TO-DO ITEM #1

• Review Your Job Descriptions

• Review Your Last Recruitment Ad

• Review Your Training Manuals

• Review Staff Performance Improvement Plans

• Review Staff Performance Appraisals

COACHING

Practice Makes Perfect….Better

• Rapport/Engagement/Trust

• Discovery/Questioning

• Building Value

• Asking for Business

COACHING

Engagement

e.g. Problem e.g. Practice e.g. Homework

MSR doesn't attempt to engage member when

taking a loan app

Go to a coffee shop and attempt to get the

barista to pay you a compliment.

Write down: How you began conversation?

What was awkward? What would you do

differently next time? What about the

interaction can you apply to your day job?

MSR Cannot engage member when taking a

loan app

Type your name and address repeatedly in to

a word document without looking at the screen

while holding a conversation about your

(anything ridiculous goes here)

While watching favorite TV show, do best to

transcribe script (in real time). Discuss in next

meeting if were able to enjoy show as much.

Other observations

MSR engages member too late in

process/after attempting to gain business

Outline 3-5 questions you can ask before

asking for member's account number. Outline

3-5 questions you can ask before quoting a

rate. Practice these

Call competitor and act as a consumer looking

for information on a HELOC. Document what

rep did well to build rapport/trust. What did

poorly? Would you have proceeded with an

app based on desire to work with the rep

COACHING

TAKE AWAY/TO-DO ITEM #2

•Define What Problems Staff have in core competency areas:

•Find “practicable” actions for each problem

•Assign homework for each

Managing Sales

• Job Purpose

• Job Duties

MANAGING SALES

• Develop new and exciting products that consumers want

and can only buy from you (ideal)

• Improve sales performance to new members

• Improve sales performance to existing members

• Slow your runoff

• Improve ability to attract new members within your field of

membership (or) expand your field of membership

• Serve niche groups that others aren’t

• Price lower than everyone else (not ideal)

MANAGING SALES

TAKE AWAY/TO-DO ITEM #3

• Ask for a Lending Sales Plan or Develop one yourself for each

channel

• Do a S.W.O.T analysis on top 3 competitors

• Do a Competitive Comparison: Auto, HELOC, Home Equity,

Personal Loans (max ltv, terms, closing costs, rates, product

features, will do Bridge Loans? Will do PM2/Piggy-back refi?

Will do cash-out refi on auto?

• Review and document differences in your website compared to

HSN.com and Zappos.com and your Bank/Non-Bank

Competitors (as they relate to turning visits in to sales)

INCENTIVES

Vs. Goals Vs. Standards

INCENTIVES

TAKE AWAY/TO-DO ITEM #4

• Review existing lending incentive plans

• Who is being incentivized?

• For what?

• Answer Question: Are lending incentives paid for underperformance?

• Answer Question: Are lending incentives paid for the “unimportant”?

• Review non-lending incentives. Are Lending incentives competitive?

• What is in conflict?

• Answer Question: Where would redistribution of incentive better align

with lending goals?

Q&A

Thanks for joining me!