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Success Stories
- Creating a Uniform Culture
- Driving Organizational Focus on the Right Customer
- Driving Revenue Through Referrals
- Establishing Differentiation Through a Distributor Sales Force
- Executing a New Sales Strategy
- Helping a Client Quickly Turn an Existing Program into Sustainable Action and Results
- Increasing New-Hire Productivity
- Instilling a Winning, Competitive Attitude in the Sales Force
- One-on-One Coaching to Breakthrough Results
- Providing Practical Tools for Sales Management in a Changing Marketplace
- Raising the Bar on Performance
- Results Soar for 700-Agent Call Center
Executing a New Sales Strategy
Industry:
Large Regional Bank
Situation:
This Company was falling short on their primary measures of sales success – new clients, closed loan dollars, products per customer, and non-credit products sold.
To change the downward trend, senior management decided to alter the organization’s vision, structure, roles, and responsibilities.
Once in place it was critical to rapidly realize sales success. Business Efficacy was hired to guarantee the new sales strategy would be executed and result in immediate increased productivity.
Analysis:
Numerous interviews were conducted with each level of the sales organization. It quickly became obvious - while the new sales strategy was clear, interpretations of what in-the-field execution looked like were completely different.
Execution:
To eliminate the strategy's ambiguity, Business Efficacy worked with senior management to bring clarity to the new business banking strategy. This meant gaining buy-in from all levels involved in the strategy, clearly defining the critical sales activities for the bankers, and defining daily coaching routines for the banker managers. Once in place, senior management and all banker managers would have to be performance coached on what tactically had to be done day-in and day-out with bankers to ensure buy-in and daily execution of the sales strategy.
Business Efficacy designed a four-phase solution:
- Phase I: Communication of and gaining buy-in for the new sales vision, strategy, and goals.
- Phase II: Design, rollout, and facilitation of the new business banker sales process.
- Phase III: Design, rollout, and facilitation of the new business banker manager coaching routines and tools.
- Phase IV: One-on-one, in-the-field development of senior management and each business-banking manager for 90 days. Coaching of banker managers focused on the day-to-day execution of the manager routines with bankers, in their environment. Senior management coaching focused on their development of each business-banking manager.
At the end of Phase IV, additional one-on-one coaching was used to continue: in-the field manager and banker development; communication of the sales strategy, vision, and goals; and alignment and clarity with the new sales process and manager coaching routines.
Impact:
- 100% of business bankers achieved incentive pay, up from 20% one year ago.
- All primary sales measures increased 50%, while other regions' measures remained flat.