Your Traditional Branch Staff May Be Hindering Sales
•
0 gefällt mir•633 views
This document discusses moving from a traditional branch staffing model to a universal associate model. It provides an overview of designing universal branches, including optimizing space, changing the customer experience, and creating a sales-focused environment. The document also discusses finding and training universal associates, using technology to support them, and tips for management. Overall, it argues that a universal associate model can improve sales and reduce costs compared to only using traditionally trained branch staff.
Empfohlen
Weitere ähnliche Inhalte
Was ist angesagt?
Was ist angesagt? (20)
Ähnlich wie Your Traditional Branch Staff May Be Hindering Sales
Ähnlich wie Your Traditional Branch Staff May Be Hindering Sales (20)
Mehr von Chad Davis
Mehr von Chad Davis (9)
Kürzlich hochgeladen
Kürzlich hochgeladen (20)
Your Traditional Branch Staff May Be Hindering Sales
- 2. • Welcome and Introductions • Traditional Branch Staff Approach • Universal Associate Model • Designing Universal Branches • A Closer Look – Sandy Dixon • Finding and Training Universal Associates • Technology to Optimize Universal Associates • Management Tips • Open Discussion Including Q&A Session
- 3. Submit a question or comment via chat
- 4. • Gordon A. Williams IV, FMSI EVP Business Development • Sandy Dixon, Consultant • Chad Davis, FMSI VP of Marketing
- 5. Your Traditional Branch Staff Approach May Be Hindering Your Sales Process • Staff quantity does not equate to quality • Highest trained staff interact the least • Which staff is more likely to upsell?
- 6. Low Product Penetration— • Below 20% for (6/10) • Improvement to upsell?
- 7. Disengaged Account Holders— • No cross-selling happening • Lost revenue potential • $400 per year for each
- 8. Advantages of Universal Associates— • Reduces branch labor cost • Improves sales and service Individual Branch Evaluation— • One-size-fits-all approach is ineffective • Categorizing branches by size
- 9. Individual Branch Evaluation— • One-size-fits-all approach is ineffective • Categorizing branches by size
- 10. Low Volume Branches— • Less than 3,000 transactions per month • Adopting several roles • Exclusively staffed with universal associates
- 11. Mid-size Branches— • 5,000 to 10,000 transactions per month • Flexible team members • Adapting instantly to the current environment
- 12. High Volume Branches— • 10,000 plus transactions per month • Best suited for traditional banking models • Investments in branch technologies
- 13. Designing Universal Branches Interacting in a new branch— • Maximization of space and efficiency • Purpose of branch is changing
- 14. Background • 38 year banking career – retired as EVP/Director of Operations for Extraco Banks-central Texas • Areas of concentration: Retail, Operations, Accounting, Audit, HR • President & CEO of Sandy Dixon & Associates • Recognized industry expert: Branch transformation and Multi/Omni channel banking Sandy’s holistic approach enhances a multichannel strategy – transforming the branch to enrich the customer experience, reducing costs, and generating capital to expand customer-driven multi/omni-channel demands.
- 15. Modernization – the key to staying competitive • Changing the Account Holder experience • Creating a sales/service oriented branch • Being customer centric
- 16. Measuring and Forecasting Universal Associate Activity— • Actual account holder traffic patterns • Core transactions • Platform system data
- 17. Tracking ongoing performance— • On-demand sales reporting technology • Cross-sell metrics • Comparing universal vs. traditional associates
- 18. Creating an environment for success • Branch design • Technology • Process Improvement
- 19. Wish someone had told me….. • Change management – making it easier. • Critical committees – getting the right people involved. • Team busters – recognizing them and knowing how to deal with them. • Vendor selection – trusted advisor. Treat them that way. • Mistakes will happen. Learn and move on.
- 20. Finding the Right Employee - Internal vs. External Candidates • Ideal scenario, but… • Hiring outside the institution can be effective • Hiring college students
- 21. Flying blind to sales opportunities and threats • Extensive training is recommended • Outsourcing the training effort • Receiving accurate and timely insights
- 22. • Draw in account holders • More engagement in the branch • “Virtual Money Machine” Incorporate games in your branch strategy
- 23. The Power of Community Involvement— • Open floor plans • Local retailers, win-win-situation • Attract more traffic
- 24. • Bank Satisfaction Barometer • Existing account holders concerns • What is most important?
- 25. Position your FI for 21st century challenges — • Traditional branch approach may be costing you • Identify which branches are a good fit for universal associates • Leverage technology to get the most out of the universal associate model
- 26. FMSI provides performance management information and a branch staff scheduler to financial institutions of all sizes, including a workforce optimization comparative data report that allows clients to see where they rank amongst their industry peers. – Learn more at www.fmsi.com, or call 770.619.3443 – Download all FMSI white papers and recorded webinars at fmsi.com/resources