Customer Service And "Sales"

Money and finance are confusing to many people, and the news lately about the economy and investments makes them distrustful and even more confused. With the fluctuation of the stock market and the ups and downs of their investments, we're starting to see more people coming into our financial institutions to buy our products.

And that's exactly what they're doing - buying our products. You are a sales person if you're helping someone to invest in your products - whether it's an IRA or a Certificate of Deposit or a Money Market Account. People buy our services when we are able to win their trust. They're looking for advice from their bankers, and they realize there are a variety of alternatives in the financial marketplace.

We have a distinct advantage over many of the others, however, because of our numerous personal contacts, mainly with tellers and service representatives. It is this personal contact - this feeling of being appreciated - that is the difference between keeping customers or losing them.

It's up to you to be a great sales person in order to win - and keep - the business of a satisfied customer for your bank. It actually helps that you are in a highly visible position. You have a chance to create a good impression to so establish good customer relations and responses. Face up to the fact most customers form their opinion of your bank through the way they are treated by you. Customers appreciate bankers who care.

"Sales" Is Not A Dirty Word
First, learn to not be afraid of the word "sales." Is your image of a "sales-person" like the woman who tries to sell clothes (including bathing suits!) to the cartoon character Cathy? Or the old time caricature of the used car salesman? The skills you'll need have nothing to do with those types of sales people! You probably already have some of the necessary skills essential to positive dealings with customers without even thinking about it. But you can increase your effectiveness by becoming aware of your skills, developing new ones, and practicing them.

In formal sales training, there are four essential steps to cover in learning to be a successful sales person.

1. Initial contact
2. Determining customer needs
3. Addressing problems and
4. Positive ending. If you think about your contacts with new customers, you'll probably find you are already handling your sales correctly in this manner.

Team Effort
The direct customer contact is made on the front line, but let's not forget that what constitutes a satisfied customer is the way they are treated in all parts of the financial institution.

Selling in the bank is a team effort, and requires the constant attention to detail, both in the branch and in operations in order to be successful. Everything we do, whether on the front line or behind the scenes, leaves a lasting impression on customers about our service and our products.

Most Important Sales Skill
Being a good listener is the most important skill you can learn. Unfortunately, many sales people have poor listening skills.

Hearing is NOT listening!

If you are a good listener, you hear what customers, supervisors and fellow employees are saying and, even if they are angry or upset, you remain neutral, empathetic and calm. You show by attitude and responses that you are listening - and you encourage the speaker to continue.

Successful sales people are good listeners. They understand that listening to someone makes that person feel important. They know to ask open ended questions - those that can't be answered with a simple 'yes' or 'no' answer. Instead of, "Are you saving for a special need" - which will get you a "Yes" or a "No" - ask, "What, especially, are you saving for?" This may lead to, "Buying a house" (bookmark your brain - possible mortgage customer). Or, "Retirement" (looking for IRA or investment products?) Strangely enough, one of the ways to best practice asking open ended questions is to try to hold a conversation with a three year old on the telephone!

Most people don't want to listen. They want to get their point of view across. Good salespeople recognize how customers and potential customers love to talk! Work hard on your listening skills and your open ended questions to learn more about this person.

Did They "Buy" It, or Did You "Sell" It?
Smart sales people understand that a satisfied customer states "I bought", meaning the decision to purchase was theirs. It was what they wanted to do and was satisfying to them.

On the other hand, the customer who does not feel good about a purchase may come back to talk to you about the product "you sold me." If the product isn't right or doesn't perform properly it's going to be your fault.

We have a variety of products to offer our customers, and we have fancy brochures and product knowledge reference material for all of them to help in our selling.

But there is one very essential element not found in all this material - the attitude of caring for people.

Sales Culture
'Sales culture' may be the new buzzword for today's competitive marketplace, but a 'caring - listening culture' is needed before most sales will take place in our banks.

Take time to care, take time to listen - and you have completed the first steps of being a successful sales person. Your interest and the way you care about the customer's well being is the difference between you and the competition.

They Will Remember YOU
They might not remember all the details of the product you just sold them, but they will remember you and they way they were handled, your attitude, and whether or not their business was appreciated by you. In caring, you not only sell the product, you also sell yourself.

And THAT will guarantee you a happy, satisfied customer.

Copyright © 2001 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 11, No. 1, 1/01