Breaking Through Mediocrity
Tired of incremental improvement, a division of a top-tier bank wanted something more. After years of predictable production, the sales management team had become complacent, with waning engagement and motivation. Needing to develop renewed focus, territory and production expansion, the group had to improve its sales-force talent level.
Business Efficacy coached the bank’s top executive to successfully sharpen its sales organization’s focus and establish individual sales manager coaching. The goal was to drive the improved management skill and accountability required for repeatable success with each sales team member.
With managers now supporting growth, Business Efficacy next tackled team misalignment issues by designing and delivering a series of management sessions that emphasized influence, delegation and accountability for anyone who impacted customer acquisition and delivery.
The final step entailed Business Efficacy training managers on how to recruit and select the right job candidates.
The bank’s sales process became noticeably more efficient. Right prospects calls increased. Opportunities moved through sales, underwriting and closing quicker. New production revenue went up 15 percent in the first year and 30 percent in the second. Average production per BDO went up 9 percent the first year and 20 percent in the second. All aspects of the business were dealing with more right clients. This resulted in larger deals that closed sooner.
In addition, team morale and all client satisfaction measures improved significantly.
“We have a 2.5 million dollar increase in individual salesperson productivity and efficiency. If I had to put up a billboard for Business Efficacy, those stats culminate all of the efforts we have done.
“Not only is our average BDO production up to 13.1 million which is an industry record, the new class recruits are winning quicker. Turnover is down and people are feeling good, empowered and inspired, all of this in a competitive banking industry!
“We don’t have a single closing manager today in the team lead arena that was here two years ago. The accountability has shifted. Credit people tell the sales people where the deal is. Don’t have the sales people tell the closers, that has added a huge lift to the productivity.”
– Executive Vice President, Small Business Administration