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bank teller sales scripts

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Those problems occur as people mover through various life events (get married, retire, have kids etc). We think of this as a loop and each time through we dig deeper into the harder information. In our last blog, we covered the basic scripting techniques for the opening and introduction. Anything that takes them off that path will be considered inconvenient by most unless they agree they want to go there.

Many banks offer incentives to tellers if they cross-sell new accounts or services to customers. The Impact To ROE Of Various Bank Budget Initiatives, 10 Important Pieces of Data Banks Need To Collect On Commercial Customers, Now Is The Time To Segment Deposits By Elasticity, 5 Popular Economic Indicators Banks Use That Are Unreliable, 4 Indicators that Help Banks Forecast The Future, Combining Satellite Imagery and Machine Learning In Banking, ARC Hedge Program Update On LIBOR Transition, Deposit Marketing In the Age of Machine Learning, How The Election Will Impact Your Bank’s Budget and Strategic Plan. The cost of database technology/customer relationship management (CRM) has decreased dramatically, enabling even community banks to drive next-best sale prompts and other scripts to the front line with great results. ©2020 CenterState Bank Correspondent Division. Change ), You are commenting using your Facebook account. You are able to help customers view their financial lives in new and different ways, envision how those lives might change over time, and ultimately help them reach their financial potential -- whatever that might be. Training programs have to include customer service skills, basic job … Your personal reputation as well as corporate reputation can suffer and ultimately you lose more opportunities than you gain. Which products can tellers sell and which should be reserved for sales platform staff and branch managers?

The lender must understand the prospect’s business and personal needs to create a proposal and a tailored solution that even the prospect has yet to consider. But in our experience, starting with sales skills can be a recipe for frustrated sellers, disengaged managers and unimpressed customers. Change ), You are commenting using your Twitter account. - Dress the part.

Branch Efficiency. A change of this significance obviously has strategic implications across the board. The sales conversation loop is shown in the graph below.

Most of us put up a wall. Once trained, every UA could handle any customer need, from basic teller work to new account transactions, loan applications and assisting with operational questions. Most times it begins with mentioning a product, and produces a quick “no thanks” from the customer.

The product itself does not matter to any customer, it is the end result that the customer “buys”. One opening is “Hello, my name is Joan Smith, and I am calling from XYZ bank. The UA rotates positions on a regular basis, to retain the basic skills in all the operating areas of the store. You should have a pamphlet ready to give to the customer explaining the new service or account.

Your products solve financial problems people have. - Make, and maintain, eye contact as they approach your wicket. have merged to become South State Bank, N.A. Scripting for opening and introduction can be summarized in the diagram below. At this step, the lender is listening to the prospect’s needs and on each loop verifying the needs through questions that elicit a deeper level of information. Banks track referrals in different ways. With today’s low rates, this could be an appealing feature for your future business needs.”  The lender has already decided that this would be a good feature for the borrower and will try to include it in the LOI. No sustained behavioral change ever happened just because management changed the job description. The new teller-line free branch concepts require staff members to better deliver a brand experience that includes demoing new mobile app features to signing a customer up on a new product.

Vacation? It even includes the technology you’ve invested in to support it. Don’t sell. It’s a legitimate concern that, if the sales process change is handled poorly, customers could feel oversold and taken advantage of. If the prospect is not willing to provide the harder information just yet, we revert to questions focusing on the easier information. Make sure you look like it. Start a business? Customer Think: Cross Selling at Banks: Adopting the Right Strategy for a Healthy Bottom Line, Baron Group: Why Banks' Cross-Selling Falls Short, Job Description for a Personal Banking Representative, A List of Major Goals & Objectives for a Bank Teller. Your staff will also need to be properly versed in the terms and conditions of the products they cross-sell. Loan products allow them to get things sooner than they would if they had to save up for them. So yes, tellers, by whatever name, must sell. People buy from people they like and trust. Some banks pay for each referral given out, and others pay only if the customer actually signs up for the product. A lender must also rehearse a script for the proposal discussion. Liked it here? The transactions they handle often give off obvious indicators of sales opportunities. Focus your questions on potential problems that your products solve. Even your best employees will be unlikely to push hard for a sale if there's nothing in it for them. A correct script for teller sales training does not focus on any product or service, it usually begins with a question that prompts clues to customer needs, then a sentence or two pointing to the benefits of an appropriate product. If the bank is on a paper referral system, have the basic information filled out and ready for when you do make a referral.

They are told to spot opportunities, cross sell products and services all while keeping their line ups to a minimum. Cash recyclers have eliminated, or significantly reduced, balancing and cash counting. They are told to spot opportunities, cross sell products and services all while keeping their line ups to a minimum. ( Log Out /  It may work once in a while but only when you get lucky and happen across someone that has the problem the product you are pitching solves. Once tellers are scripted in their own words using this formula, they become experts at having productive, helpful conversations with customers, and sales occur naturally. They can do this by studying customers' accounts and listening to what they say. The figures below show how much longer, on average, a customer will stay with a bank, based on the number of products they hold with that bank. Among her many jobs, Miriam C has taught middle-school students. A correct script for teller sales training does not focus on any product or service,  it usually begins with a question that prompts clues to customer needs, then a sentence or two pointing to the benefits of an appropriate product. The future of the branch is anyone's guess, but one thing is for sure: RIP teller lines. Is it any wonder why they find it difficult to sell?

Roennevig holds a Bachelor of Arts in journalism from the Surrey Institute and a postgraduate diploma from the National Council for the Training of Journalists at City College, Brighton.

Why not try sites on the blogroll... What Does a Clothing Store Have to do with Banking? Attempting to sell a new product to an existing customer will be extra work for your staff. Pitching products without getting some acknowledgement from the client that they have a need is like taking a shot in the dark. Don’t sell by informing. Miriam C has been writing since 2007. You are either not present, or the LOI takes a few minutes to read, and the prospect will take time to digest and consider the information provided. We disengage and sales resistance goes up, especially when we come in the next time – if we come in. Technology has naturally played a role in this transformation, first by usurping many of tellers’ old responsibilities.

In banking, as in every other industry making do with fewer people, those staff remaining will have to make a greater contribution to revenue. How do they feel about those things? Sure, I should do 'Discovery' but what am I really hoping to learn. Change ), You are commenting using your Google account. If revenue could be raised by fiat and title changes, we wouldn’t need most of our executive apparatus. Find out what thousands of banks, regulators and industry experts are doing to drive performance. Clearly, making the move from teller to seller will take more than handing the teller a script and promising an incentive if they deliver it. If you recognize a repeat customer and form a professional relationship, he's likely to listen to your recommendation than if the recommendation were coming from a teller with whom he's never transacted business. Save them money. A correct script for teller sales training does not focus on any product or service, it usually begins with a question that prompts clues to customer needs, then a sentence or two pointing to the benefits of an appropriate product. I've been with my bank for about 6 weeks now and I'm still doing my training course, and finally getting mostly comfortable on cash. There is a particular tried and true formula for teller scripting that makes everyone feel much more comfortable, and does not feel like “selling”. The product itself does not matter to any customer, it is the end result that the customer “buys”. “This commentary on this blog reflects the personal opinions, viewpoints, and analysis of the author and not CenterState Bank.

Altering the job of your most visible employee clearly has implications for your retail organization structure. What Are the Duties of Outbound Customer Service Representatives? Commercial lenders that practice scripting are on average 50% more likely to close loans and the loans that they do close tend to be more profitable for the bank. To break up the monotony, set goals based on the types of referrals. This makes it easier to strike up a conversation about the type of account he has and other benefits that the bank can offer him. The transactions they handle often give off obvious indicators of sales opportunities.

Sellers, after all, are measured on sales results, not efficiency. Pay close attention to the fundamentals every time you greet someone and you will increase your odds of being able to sell.

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