Accelerating
Organic Sales
in the OmniChannel
Dan Westhues – SVP Centralbancompany
Mitchell Orlowsky – CEO Ignite Sales
Today’s Issues
Banks top issues:

Regulation is the biggest distraction, not the
biggest threat

Income from usual methods have been
dramatically decreased or eliminated and the
industry would be foolish to operate on the
assumption of their return

Competition from non-banks is higher then
ever before – this is the threat
Which direction
should you go?
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© Ignite Sales Inc. 2014
Specific Problems
Non-bank competition - real threat

Retail banking is 20 years behind other industries in
proper sales process and technologies

Non-bank firms are using every technological
advancement to take bank customers

No way to ensure accurate and complete account
recommendations and to compare what was
recommended to what was opened

Incomplete measurements of what is happening in
each channel

Insufficient management tools as a result of missing
measurements
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© Ignite Sales Inc. 2014
Organic Sales Growth
The Key Elements for Growth

Laser focus on buying process

Customer experience is more than just design

Add true merchandising to retailing

Measurements of productivity that go beyond what
was previously available

Management ability to both hold people
accountable as well as coach to improve
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© Ignite Sales Inc. 2014
Case Study
 13 Affiliate banks in MO, KS, IL and OK
 135 retail branches
 $11 billion in assets
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© Ignite Sales Inc. 2014
Evolution of the Sales Process
THE PLACEMAT

Showed everything we had to offer

A well rehearsed presentation from a
personal banker

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Let me know when you are ready to order
© Ignite Sales Inc. 2014
Evolution of the Sales Process
THE INTERVIEW

Asked questions about financial
habits

Another well rehearsed presentation
from a personal banker

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The recommendation
© Ignite Sales Inc. 2014
Evolution of the Sales Process
THE ANALYZER

System prompted questions

Customer’s answers shape the
discussion

Personal Banker uses intelligent data to
make an informed recommendation
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© Ignite Sales Inc. 2014
Evolution of the Sales Process
Meaningful data is the game changer
THE ANALYZER
THE PLACEMAT
• Data only available
after account
opening
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© Ignite Sales Inc. 2014
• Data on product
THE INTERVIEW
relevancy
• Comparison data on
• Customer needs
product
assessment
recommendations to
uploaded to a CRM
conversions
file for reference
• Management tool for • Retained data on
customer preferences
personal banker
The Analyzer in Digital Channels
Online – Self service guides provide unique experience

Engages the customer upfront.

Customers feel confident about
decisions

Work flow to insure we follow-up with
customers

Data stored for future use.

Analytics on product lineup

Comparison to “at desk” performance
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© Ignite Sales Inc. 2014
Early Results Prove Promising
RESULTS





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20% lift in product sales from
existing customers
15% lift in product sales from new
customers
Even among our highest
performers, we are experiencing a
40% increase in sales per
household.
Surprisingly, assumptive sales like
E-Statements, Online/Mobile and
debit cards increased
Specific products like Credit Cards,
and referrals to other lines of
business saw the biggest jump
© Ignite Sales Inc. 2014
Measure & Analyze
Are you measuring value?

Measuring value means knowing the potential

Measurement of each channel

Measurement of employee productivity
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© Ignite Sales Inc. 2014
OmniChannel Reality
OmniChannel
Online
Recommendation
Guides
Branch
Mobile
Customer
Prospect
Analytics
Infrastructure
Call
Center
Measurement
Dashboards
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Patented
Intelligence
Engine
© Ignite Sales Inc. 2014
Connectors
Cloud Delivery
Central Bank – Lessons Learned
Improving the overall sales process

Employee bias always play a role with the sales
process

Education needs were identified faster.

Having meaningful and specific data improves the
coaching process

Communication between lines of business are
essential

Customers respond positively to data driven
recommendations
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© Ignite Sales Inc. 2014
What’s Next
Deepen the OmniChannel Experience

Video collaboration technologies

Richer use of Customer Relationship Management
technologies

Compensation adjustments and management
based on improved sales process

Changes in channel investments

Staffing optimization
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© Ignite Sales Inc. 2014
Key Takeaways: Accelerating
Organic Sales in the OmniChannel

Laser focus on buying process

Increase value measurements for all investments (revenue
contributors for every investment)

Any improvement to OmniChannel experience

Hire vendors who have delivered specific technologies sought

Implement the above in increments
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Predictions for 2015: Accelerating
Organic Sales in the OmniChannel

Sales effectiveness as executive priority

Merchandising – ‘right offer, right customer, right time’

Video collaboration – online, in branch, in call center

Utilizing digital tools in branch to sell

OmniChannel becomes more of a reality

Cloud and mobile working together to improve customer engagement
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