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Branching Out & Branching Out for Managers

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Business Issue - Banks have turned to the telephone as a critical sales strategy for several reasons—fewer customers are visiting branches because of increased use of technology, recent market segmentation research shows that many highest potential bank customers rarely visit branches, and reduced staffing in branches means that every sales conversation must be more productive than ever. Financial services competitors, such as brokerage firms, have long used the telephone as their primary sales strategy. For retail banks, the telephone is the key to building relationships with high-potential customers and retaining relationships with high-value customers.

Omega Performance’s Solution - When branch salespeople and managers proactively contact high-value or high-potential customers with the goal of helping them gain the most from their banking relationship, customers remain loyal and bring more of their business to the bank. This kind of enduring customer relationship helps banks meet sales, service, customer-retention, and market-share goals.

Branching Out provides front-line salespeople with the skills they need to plan and carry out telephone sales contacts with top customers. The program consists of brief prework preparation and a one-day workshop.

Participants learn to see themselves not as “pushy telemarketers” but as professionals who contact customers by telephone in order to better meet customers’ financial needs. Salespeople practice a five-step model for conducting effective telephone interactions and develop skills in planning telephone contacts using a Call Organizer.

Omega Performance’s focus is on “real work”—participants apply new skills and knowledge to real situations by contacting real customers by telephone during class.

What Is Included

Managers and front-line bankers share many attitudes and fears about telephone selling. In addition, managers need to be competent and confident in their own telephone sales ability in order to coach effectively. Omega Performance-trained telephone salespeople and managers are professionals who contact high-potential customers to let them know about specific ways the bank can help them make money or save money. Omega Performance’s approach is based on its core retail sales philosophy: The best service a bank can provide its customers is to meet all their needs through the sale of appropriate products and services.

Selling by Telephone addresses the attitudes necessary for success in telephone selling and, for managers, success in managing a branch telephone sales program.

Create Interest introduces the Telephone Interaction Model, a roadmap for a successful telephone sales conversation with a customer.

Explore Needs with Customers refines participants’ skills in quickly uncovering customer needs with targeted, needsbased questions.

Recommend Action to Meet Needs teaches how to gain the customer’s agreement to an appointment to discuss needs further or purchase additional products from the bank.

Completing the Customer Interaction concentrates on skills needed to handle common obstacles encountered on the telephone, closing the sale or appointment, and determining next steps and showing appreciation.

Skill Practice allows participants the opportunity to practice their skills in a “real work” activity, using their Call Organizers to conduct live telephone sales calls with real customers and, for managers, the opportunity to practice telephone coaching skills.

Delivery Options

Omega Performance’s Branching Out program is delivered via workshop. We recommend implementation of the program in three phases: Phase 1, Preparing for Success; Phase 2, Building Telephone Skills; and Phase 3, Sustaining Telephone Selling Success.