Retail Banking @ Strategic Sales Approach
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Transcript of Retail Banking @ Strategic Sales Approach
NCC Bank Limited
Retail Banking
Khaled Afzal RahimHead of Retail Banking Division
NCC Bank Limited
Strategic Sales
ApproachMonday, 28 January 2013
NCC Bank Limited
Retail Banking Division will deliver long-term
shareholder value through focusing on cost
effective and efficient delivery to our customers
across all products, services and channels.
NCC Bank Limited
Evolving Consumers Increasingly affluent, with bulging middle
class
The youngest population in the world
Increasing literacy levels
Higher adaptability to technology
Urbanization is a continuing trend
Increasing "consumption" mindset in Major Cities
NCC Bank Limited
Population by Broad Age Groups
Total Population in million
61.60%
4.80%
33.60%0-14
15-64
65+
2007 2012
148.8
161.0
59.40%
4.20%
36.30%
Source: U.S. Census Bureau, International Data Base
NCC Bank Limited
• Banks continue to offer valued added Products and
Services for customer acquisition and retention
• Retail Banking technology is gaining its importance due
to the continued demand
• Customer Relationship Management (CRM) is going to
be a mandatory requirement for banks to leverage the
existing relationship
• Retail Banking customers are demanding more and
more features and product differentiation
Retail Banking Trends
NCC Bank Limited
• More and more Retail customers in the age group of
15-64 with high saving potential
• Alternate delivery channels, channel integration and
single sign on expectation from customers
• Branch Banking channels are going to be business
expansion channel than Transaction processing centre
• More and more customers are moving out of the Branch
Banking channel to other alternate delivery channels
Retail Banking Trends cont.
NCC Bank Limited
Retail Banking Division@
NCC Bank Limited
NCC Bank Limited
NCC Bank Retail Banking Vision
“We shall give our customers best possible service
experience each time they require our banking services.
The good customer experiences shall be created through
our attitudes, our behavior, and our solutions.”
NCC Bank Limited
NCC Bank Retail Banking Mission
“Banking Choice of the Community”
NCC Bank Limited
Developing Your Sales Strategy
Target and penetrate the most promising and profitable markets and
sectors.
Go to market in the most effective manner.
Refine and maximize your competitive advantage and product & service
differentiation to increase market share and margins.
Increase sales win ratios and shorten sales cycles by refining and aligning
sales and marketing messaging to capitalize on your value proposition and
your competitor's weaknesses.
NCC Bank Limited
Developing Your Sales Strategy
Cont.
Define the most efficient and cost-effective tactics and methods to sell your
company's products and services.
Establish a specific plan to strengthen and enhance lead generation.
Establish comprehensive success metrics and quantitative targets at every
critical level from the number of impressions made to the number of
customers gained.
If you feel there is a realistic chance of getting the account, which strategy
will you use?
NCC Bank Limited
Questions To Help Determine Strategy 1. Can you interact with or cover each of the decision makers that will
influence the outcome of this sale?
2. Do you have the time and resources necessary to interact?
3. Can you competitively position yourself to overpower the competitor?
4. Do you have sufficient unique selling points to accomplish this sale? Do
you have access to the key decision makers to do this?
NCC Bank Limited
Questions To Help Determine Strategy Cont.
5. Can you neutralize the competitor's strengths?
6. Do you have the capacity to deliver?
7. If you can't get the whole project, what piece would competitively
advantage you for the next purchase?
8. How sure are you that you can get this sale?
NCC Bank Limited
Assessing and Minimizing Your Odds to WinSelf Awareness
Emotional awareness
Accurate self-assessment
Self confidence
Self RegulationSelf control
Trustworthiness
Carefulness
Adaptability
Innovation
MotivationAchievement drive
Commitment
Initiative
Optimism
NCC Bank Limited
Effective Selling TechniquesProspecting
a. Build relationships
b. Be persistent
c. Use a script
d. Be creative
e. Communicate your belief in your product
f. Expect rejectioni. Generating Sales Referrals
ii. Qualifying Sales Referrals
Key characteristics of good prospects
1. A need.
2. A sufficient budget.
3. The authority to buy.
NCC Bank Limited
Five Techniques to Distinguish Good Prospects
1. Is the prospect has ability to be your Client?
2. Is his need is present requirement or future requirement?
3. Is the prospect is good enough for your time investment?
4. Can the prospect be accepted by the Bank Management?
5. What is the grading mark the prospect got from your
assessments?
NCC Bank Limited
Presentation
Questions
Discovering a prospect's needs can be challenging in the early stages of selling.
Because prospects don't know you they tend to be much more reserved in the
information they provide. Many are not comfortable telling you about their needs,
weaknesses and concerns until some rapport and comfort has been established.
If you really want to give prospects a reason to buy from you, you need to give
them a reason. One of the most effective ways to do this is to ask a few well
thought-out questions to uncover what is important to the prospect.
NCC Bank Limited
Closing
1. Shows no fear
2. Not selling just for acquiring a new customer
3. Never gets down on prospect
4. Very organized and straightforward in asking for action
5. Understands the prospect has doubts
6. Immune to rejection
7. Avoid all negative influences and distractions
8. Master closers are competitive yet remarkably stress free
9. Celebrate your success
NCC Bank Limited
Managing Critical Sales Objections
1. Start with acknowledgement or empathize to stay connected
2. Ask clarifying questions and listen as much as possible
3. Position their response so it is concise and targeted
4. Check for feedback
5. Go through the process again if they have not addressed the
concern
NCC Bank Limited
Confidence
1. Concentrate on the fact that your products & services benefits
lots of people
2. Tell yourself that whatever cloud you're operating under will soon
pass
3. Get something minor done, of which you can be proud
4. Tell yourself, "Every day, in every way, I'm getting better and
better!"
5. Do something you had not been doing for a long time
NCC Bank Limited
• Identifying the Customer’s Banking Need
• Proposing a Customized Solution to Satisfy that Need
• Provide Valued Added Customer Service
• Assure Customer to Keep Confidentiality
• Maintain Long Term Relationship
Creative Selling Techniques
NCC Bank Limited
Importance of Customer ServiceWhat Skills are Needed
• Showing Friendliness• Showing Helpfulness• Effective use of Body Language• Having Good Product Knowledge• Develop Listening skills• Showing Courtesy• Develop Effective complaint Handling Skills
NCC Bank Limited
Wrapping upwith
Q & A