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5 Simple Ways To Grow Your Bank or Business
Are you or your colleagues struggling to engage customers and prospects in more productive sales conversations?
For over 25 years I have worked closely with Bankers and Sales People trying to unlock the secret to growing our portfolios, our banks or our businesses more effectively.
Yes …. every Banker and Sales Person will tell you that the key to growth is building relationships with our customers … but how are you doing that?
Proactively and Enthusiastically …. or Reactively and Cautiously?
When meeting with customers or prospects, most simply default to standard introductions, lack luster pitches or boring conversations about the weather or how difficult the market is.
It has become blatantly obvious to me that the FIRST key to greater growth is knowing how to effectively ENGAGE customers in sales conversations.
The more you can compel existing customers and prospects to learn about your broader solutions, the easier it will be to grow your Bank or Business.
Here are 5 Simple Ways to more effectively engage customers and prospects that can spark valuable sales conversations:
- Don’t Just Talk About The Weather
Everyone likes to talk about the weather because it’s an easy, safe discussion and we all have that in common. It’s an easy default conversation, but rarely leads to new business opportunities.
Every time you interact with a customer or prospect there is an opportunity to share “news” and learn more about what challenges they are facing and tell compelling stories about how you have been helping other customers.
After the obligatory weather conversation be sure to ask them about what’s new in their life (or how business is going). Listen for cues. Share some positive news about what you have been doing for other customers and confidently ask if they think they could also benefit or would like to learn more.
- Rethink Your Introduction
We all attend networking events or functions and have the opportunity to meet new people. We are always asked “what do you do for a living?” and most of us respond with “name, rank and company”.
Your introduction is your most powerful engagement tool and you should always strive to share something interesting that inspires further conversation.
“My name is Joe Micallef and I have been helping Bank Leaders better engage their staff and develop simple strategies to easily grow their Banks by more than 10% each year.”
- Be Positive About Work and the Market
Nobody wants to do business with negative or frustrated people. No matter how busy you are at work or how difficult the market is, it is important to always portray a positive attitude about work.
Share your concerns with co-workers and your leaders …. NOT with customers and prospects.
I respect honesty, but conveying your frustrations does NOT compel a customer or prospect to learn more about what you do.
Remember … you are a solution provider and the best way to attract customers is by positively sharing problems you have solved for others not by discussing problems you cannot solve for yourself.
- Confidently Ask For Referrals
The easiest way to grow your Bank or Business is through customer referrals yet so many people are reluctant to directly ask for a referral.
You have done amazing things for your customers that have provided significant benefits. Share these stories and learn to confidently ask for referrals (introductions).
Directly asking a customer or contact for a referral is not rude or pushy. If you connect the request to benefits they have experienced then it simply becomes a request to help others they may know.
Become more confident about your amazing solutions and you will soon become more confident about asking for referrals.
- Proactively Follow Up
The easiest way to demonstrate interest in engaging someone further is to follow up. If you reflect upon your relationship with your spouse or partner, there is no way you would be together today if someone did not follow up after the first date?!?
After every exchange with a customer or prospect, I strongly encourage you to follow up promptly with a call or email. Be confident about making “the next move”. Let them know you are interested in continuing the conversation and/or providing solutions that can help.
I know most people don’t want to appear aggressive or desperate, so always consider ways you can add value with each follow up.
Don’t miss an opportunity to start a great relationship with a prospect, or expand your relationship with an existing customer, because you were afraid or neglected to persistently follow up.
It really is easier than you think to grow your Bank or Business
You simply need to be more confident about the wonderful solutions you offer and develop more effective ways to engage customers/prospects in conversations about them.
Take the time to consider the 5 simple tips I have outlined in this newsletter and workshop ideas/scripts with your team.
No more standard introductions.
No more lack luster pitches.
No more boring (or negative) conversations.
Bravely try a new approach each week and I am confident you will be amazed by the results.