The “Wholly” Trinity of WHY
I am always asked how I was able to successfully grow my commercial loan portfolio as a Commercial Bank Manager over a short period of time.
And the answer I always give is because I focused on selling more than just loans.
Too many Bankers (and Sales People) focus on accommodating the client’s immediate need or transaction request and fail to leverage the bigger picture.
EVERY client has broader financial needs beyond the immediate request. And in most instances, the application process enables us to uncover these needs and identify opportunities to develop a broader, deeper relationship.
So WHY NOT offer a wholistic solution? WHY only focus on the immediate transaction?
Unfortunately, many Bankers “believe” that the client is only interested in getting the immediate deal done and any other discussion could distract or protract – which could potentially risk losing the deal.
This shortsighted perspective may gain you a quick win and earn you a quick commission (if payable), but wouldn’t it be more lucrative to offer wholistic solutions?
So WHY spend “more time” exploring needs and producing more comprehensive, wholistic proposals?
There are THREE very important reasons WHY …..
- WHY it’s good for the Client
One of the key drivers of buying behavior is ease of purchase.
Regardless of your belief or their pressing need, I would suggest that every client would prefer to deal with one provider who intimately understands all their finance needs and makes it easy for them to access compelling solutions.
Accordingly, I would suggest you start believing that it is your obligation to give them what they prefer.
- WHY it’s good for the Bank
The more products and services a client has with your Bank, the more revenue the Bank can generate and the less likely the client will go to another Bank.
Also, it is always relatively more cost effective to sell more to an existing client than to find new ones.
Therefore wholistic client relationships are clearly more profitable and stickier for the Bank.
- WHY it’s good for YOU
Why do you go to work everyday?
Why do you work so hard to earn your income and commission?
The real answer is because you have deeper personal life goals that you are trying to achieve. So when was the last time you reflected on your personal WHY?
By committing to building broader relationships with your clients you are laying a foundation for preferred vendor status plus easier new client referrals that will help you more easily grow your portfolio …. and more easily achieve your life goals!
Doesn’t it make sense to spend a little extra time offering your client a broader solution, helping the Bank build more profitable and sticker relationships and implementing strategies that enable you to more easily achieve your personal goals?
For these THREE compelling reasons WHY, I think the answer is a wholistic YES!
Article written by Joe Micallef – Sales Strategist & Coach – Grow UP Sales. For advice on how to create greater sales confidence please email firstname.lastname@example.org or visit the webpage www.growupsales.com
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