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? Page 2 © 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 Page 3 © 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 Page 4 © Ignite Sales Inc. 2014 Case Study 13 Affiliate banks in MO, KS, IL and OK 135 retail branches $11 billion in assets Page 5 © 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 Page 6 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 Page 7 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 Page 8 © 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 Page 9 © 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 Page 10 © Ignite Sales Inc. 2014 Early Results Prove Promising RESULTS Page 11 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 Page 12 © Ignite Sales Inc. 2014 OmniChannel Reality OmniChannel Online Recommendation Guides Branch Mobile Customer Prospect Analytics Infrastructure Call Center Measurement Dashboards Page 13 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 Page 14 © 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 Page 15 © 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 Page 16 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 Page 17
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