Business Development
Generate Consistent Revenue for Retail Managers, Regionals, Lenders, and Financial Advisors
In times of tight margins, high leverage, and a lack of liquidity, and while the financial services industry waits out the repricing of lower-interest rate loans to more profitable ones in the next several years, the only way to improve margins is a skilled, external business development, sales team—and industry data reveals that most sales teams fall far short of their revenue goals:
• Only 43% of Salespeople are hitting their quotas or goals.
• 55% report needing more basic skills to perform their jobs effectively.
• 82% of decision-makers (prospective clients) feel that the salespeople they deal with need to prepare for the sales calls.
Of these, the last one is the murderous number—the unavoidable elephant in the room for most banks and credit unions: people know when a salesperson is inexperienced, unprepared, or in over their head.
THE REASON PEOPLE ARE IN OVER THEIR HEADS ARE:
THEY DON’T UNDERSTAND the need to do more active lead-generation to meet their loan, deposit, revenue, and team targets—but most don’t have an effective strategy for it and end up relying on outdated methods (cold calling, networking events where you gather business cards—and nobody follows up) and don’t have strategies for creating genuine relationships, trust, in both a virtual and real-world environment.
THEY DON’T REALIZE the need to communicate efficiently and effectively during every encounter to generate new business while creating a predictable flow of referrals from Clients, ACTIVE COIs, using LinkedIn and other BD Strategies.
THEY ARE UNAWARE of the DIFFERENTIATOR BETWEEN their organization and their salesperson compared to the sales teams of their competitors.
WHAT CAN YOU DO ABOUT IT?
Enabling your sales teams by developing their sales, networking, and external business development skills greatly addresses these issues.
If you want to dive deeper into improving your revenue readiness, check out the Business Development to Generate Consistent Revenue course.
During this video series, business development strategies and execution tactics will be broken down into understandable and actionable steps to create a strategic plan.