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Banking Sales Training

Train your banking sales team with specialized programs that build stronger client relationships and ensure compliance. Drive financial sales success confidently.

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The banking industry operates in a highly competitive and regulated environment. Advancements in fintech have also led to rapid changes, meaning specialized sales training tailored to this industry is essential for professionals to succeed.

Here, we’ll examine the importance of specialized training for the banking sector, with a particular focus on sales training for credit unions and community banks. This includes relationship-building techniques, and key strategies for credit unions and community bank sales.

1

Why is it Important to Have Specialized Sales Training for the Banking Industry?

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What Type of Relationship-Building Techniques Should Be Included in Banking Sales Training?

3

Key Strategies for Credit Union and Community Bank Sales

Why is it Important to Have Specialized Sales Training for the Banking Industry?

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Navigating a Rapidly Changing Market

Technological advancements have led to significant shifts in this industry. Customers expect to access their accounts, banking information, and transactions through mobile apps and at lightning speed. Sales training can help sales teams take advantage of the opportunities created by these changes.

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Understanding and Selling Complex Products

There has been an explosion of digital banking services and alternatives, in part due to consumer and business interest accelerated by COVID-19. Whether it is finding a way to process small business loans, the demand for digital banking services, or faster payment processing, sellers need to become decision coaches who can help clients better navigate this complex landscape.

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Building Trust and Credibility

Clients seek bankers they can trust. Credit unions and community banks provide personalized attention that big banks can’t offer. Specialized training enhances sellers’ ability to build and maintain long-term relationships and grow that critical trust.

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Adapting to Product Enhancements

Customer expectations are constantly changing in the banking industry. As a result, products also need to change and adapt to market conditions. Sellers must be trained in methodologies that allow them to be agile with their selling approach.

What Type of Relationship-Building Techniques Should Be Included in Banking Sales Training?

Active Listening

Train sellers to listen actively to clients' needs, concerns, and goals. This helps in tailoring banking solutions that meet clients' specific requirements. Few sellers recognize that active listening is not passive silence but is about what a seller says, to whom, and under what circumstances.

Regular Communication

Maintain regular contact with clients through emails, phone calls, and meetings. Keeping clients informed about their options and informed about current market developments fosters transparency. Recent research has confirmed that the surest path to ensuring client retention is through sharing insightful information without being asked.

Personalization

Encourage personalized interactions. 77% of business and consumer banking clients report expecting a level of personalization from their customer success agents.

Empathy and Understanding

Empathy in sales training helps bankers connect with clients on an emotional level. Often thought of as a “soft” skill, there is no more important skill for a seller/customer success agent to master.

Providing Value

Ensure that every interaction adds value to the client. This could be through financial education, market insights, or personalized banking advice. That may seem patently obvious. However, when done with a “counseling” approach as opposed to “telling” it creates far greater value for the client.

Feedback Mechanism

Implement a system for collecting and acting on client feedback. This shows clients that their opinions are valued and helps improve service quality.

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Key Strategies for Credit Union and Community Bank Sales

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Solution-Oriented Selling

Focus on providing comprehensive banking solutions rather than just selling products. Understand the client's overall financial goals and tailor solutions accordingly. This approach will also help a credit union and community bank associate sell a wider range of their product and service offerings.

Building Long-Term Partnerships

Aim for long-term partnerships rather than one-off transactions. This involves understanding the client's business and providing ongoing support and advice. This point can’t be emphasized enough for credit unions and community banks who serve local businesses.

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Leveraging Data and Analytics

Use data and analytics to understand business clients' financial health, market position, and potential needs. This information can help in crafting targeted sales efforts.

Networking and Relationship Management

Develop a strong network within your local community or pool of prospects. Actively reach out to local small and mid-sized businesses to establish the credit union and community bank “brand promise.”

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Customized Banking Solutions

Offer customized banking solutions that cater to the unique needs of each business client. This could involve bespoke investment solutions, tailored financing options, or specialized advisory services.

What Our Clients Say

Dee K.
Business Development Executive, Financial Services Software

My confidence in my interactions with clients even without having a great understanding of the industry and products has been much higher due to my Funnel Clarity training. My training has also helped me prepare for cold calls and scheduled calls to ensure I stay on track and get the information I need to be successful in my role.

Josh W.
Financial Services Software Business Development Executive

I have had more thorough calls with prospects and it has helped me develop my business development skills overall.

Julia F.
Sales Executive, Financial Services Software

The Funnel Clarity course really helped me prepare for discussions with prospects so that I was set up for success. The majority of what was covered in this course have been used in real life and have always helped me to navigate conversations with prospects as a new team member, especially when it comes to uncovering important information.

Lindsay D.
Sales Executive, Financial Services Software

I have been in a sales focus/business development focused role for almost a decade. The tactics I learned have been a game-changer. I feel so much more prepared for unexpected calls and getting that initial step out of the way of connecting and starting the conversation.

We love our clients because they become long-term partners:
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Frequently Asked Questions

Why is specialized sales training crucial for credit unions and community banks?

The banking industry is rapidly evolving. Specialized training is needed for sellers to be consultative. “Build it, and they will come” is an outdated assumption. Few credit unions and community banks have modernized their sales strategies and tactics.

What relationship-building techniques should credit unions and community banks focus on?

To build strong client relationships, credit unions and community banks should focus on active listening, personalization, regular communication, empathy, creating (vs. communicating) value, and implementing feedback mechanisms.

What are some effective sales strategies for credit unions and community banks?

Effective strategies include solution-oriented selling, building long-term partnerships, leveraging data and analytics, networking, offering customized baking solutions, and demonstrating ROI.

How does specialized sales training benefit credit unions and community banks?

Specialized training improves compliance, enhances product knowledge, builds trust, increases financial literacy, and improves sales techniques, ultimately leading to better client relationships and increased revenue for the credit union and community bank.

What role does fintech play in credit union and community bank sales training?

Fintech introduces advanced technologies and innovations in the banking industry. The field is crowded with new offerings, and being able to stand apart in a positive way is an essential component of growing revenue and differentiating from the big banks.

How can sellers in the banking industry stay updated with market changes?

Continuous professional development through regular sales training, attending industry conferences, reading financial publications, and participating in webinars and online courses can help sellers stay updated with market changes.

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