Case Study / Sales Leadership is a Contact Sport

Transcription

1 Case Study / The Relationship Banking Unit of a global provider of banking, financial, advisory, investment and funds management services had been a successful part of the Banking and Financial Services Division for many years. Sales Leadership is a Contact Sport However, since the global financial crisis, one State in particular had underperformed against expectations, with low sales results and sales visits below agreed numbers. There was a general lack of urgency in the sales space and overall there was a lack of a true sales culture. The business recognised that for Relationship Banking to continue to be a success that the large States must be firing on all sales cylinders. There must be a more proactive approach at all levels from State Directors, Segment Heads and above all the Relationship and Business Development Managers.

2 Numerous big prospect wins totalling more than $1.5m in new revenue & a net growth of 8% in the deposit book. rogensi helped us create a structured approach to the analysis of crosssell opportunities which has led to a higher percentage of clients with more products. Several initiatives had been put in place,, linked to a realignment of roles and responsibilities freeing the teams up to be more proactive and to be customer facing. The rogensi intervention was positioned as adding momentum to the processes needed, developing sales leadership best practice and coaching the front line teams in major opportunity development. 01/ What we did The project lasted a total of three months, with two days every week spent on site in the Sydney office. This took the form of 1:1 meetings/coaching/mentoring sessions, attendance at team meetings and team development sessions as well as leading and advising on major pitch opportunities. In addition a review was conducted of indicative proposals and pitch documents. Fortnightly review meetings took place with the NSW Leadership team where key observations were shared and actions agreed. A monthly progress report was given in a face-to-face meeting with the overall business sponsors highlighting wins, learns and changes that had occurred. Throughout we used rogensi s Sales Leadership, Performance Management, Sales, Portfolio Planning and Pitching to Win methodologies as the base line to coach against. This reinforced a common language for sales across the business. 02/ Project Outcomes The outcomes fall into three categories: Results achieved Activities undertaken Behaviours changed. It s worth noting that these all occurred in the context of a worsening economic climate, the Banking industry being under pressure to perform against customer expectations and variable rate increases and decreases.

3 03/ The Results A net growth in the Loan book (excluding extraordinary items) of 12%. (38% of the National total) A net growth in the Deposit book of 8%, when nationally the team struggled to meet targets. Numerous Big Prospect wins totalling more than $1.5m in new revenue/margin. A structured approach to the analysis of cross-sell opportunities has led to a higher percentage of clients with more products. Results pipelines are stronger than in the previous four years, in relation to quantity and size of opportunities underway. Activities Undertaken The annualised meeting numbers have increased by 26% over the previous 12 months. A new indicative proposal has been launched and has improved the proposal hit-rates. There is now clearer tracking of the Pipelines through monthly State/Segment meetings and monthly 1:1 Sales Pipeline review meetings with team members. There are larger numbers in New to Bank prospect lists leading to over 500 New-to-Bank customers this financial year. Every Relationship Manager now has a regular and planned customer call cycle based on customer need and categorisation. Key client plans are in place. There is the use of selection criteria to pre-select the right prospects to pursue. A list of new testimonials/case studies across the segments has been created to use as evidence in proposals. A tighter go/no go process has helped to kill off poor opportunities earlier. Pursuit teams are in place for all major pursuits ensuring the right resources are applied to these larger opportunities

4 Behaviours Changed Segment Heads: Are blocking time off for coaching and creating a true team sales rhythm. Segment heads are adapting their leadership styles to different people in their teams. There has been a move away from being a doer to a coach and mentor. There are more structured 1:1 monthly sales meetings that focus on results, activities (both past and future) and where the segment head can give further support in the development of team member capabilities. Relationship Managers/BDM s: These team members are blocking off time each week to the pursuit of New to Bank opportunities They are conscious of increasing both the quantity and focus of sales meetings There is a deeper understanding of the customers and their key business drivers, not just their Banking needs The Relationship Managers now have contacts across a broader cross section of clients to gain a full and more holistic view of their business There are raised levels of self-awareness on what is needed through the sales process: discipline, genuine interest in the client, proposals always start and finish with the client in mind. There has been a change in how the indicative proposals are structured, formatted and written, making them more persuasive with more tailored benefits and evidence included. There is a closer working relationship with marketing in the production of proposals and pitches with an overall move towards selling more as a team. Final pitch presentations receive more preparation and rehearsal time than before. Finally, there is better follow up after the win to ensure the bank does not miss further opportunities.

5 We achieved a net growth in the Loan book (excluding extraordinary items) of 12%. This figure represents 38% of the National total. What can we do for you? rogensi.com