2018 year two graduate school of banking handoutaug 01, 2018 · jack d. hubbard chief experience...

RETAIL BANKING

“Maximizing Relationship Development Through Sales and Service Leadership”

Jack D. Hubbard Chief Experience Officer

St. Meyer & Hubbard Elgin, IL

[email protected] 847-717-4328

August 1, 2018

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1 © 2018 St. Meyer & Hubbard, Inc.

Maximizing Relationship Development Through Sales and Service Leadership

Jack HubbardChairman and Chief Sales Officer

[email protected]


5 Cs of Trust-Based Leadership1. C________________________________

2. C________________________________

3. C________________________________

4. C________________________________

5. C________________________________

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Sales Culture Versus Relationship CultureSales Culture Relationship Culture

Customer Service Consistent Customer Experience

Consultative Trust and Value-Based

Involvement (opt in) Commitment (all in)

Numbers and Tick Marks Quality

Straight Jacket Flexible ConsistencyCampaign after campaign Sustainability

Daily, Weekly, Monthly, Quarterly Results Urgent Patience Cross-Selling Cross-Solving

Busy Bank Targeted and Focused

Scoreboard Staring Scoreboard Glancing

Sell, sell, sell Do the right things right

Training Events Learning OrganizationYour Way (my process) Our Way (Client Experience Process)Manage Numbers Lead People


Performance Culture Elements§ Right people, right seats, right process

§ The Leadership Chain

§ Metrics that Matter

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Sourcing, Assessing, Onboarding

§ What strategies are in place to source top candidates?§ How are sales managers sourcing candidates? (War Board)§ What behaviors do top performer’s exhibit and how do candidates

mirror those? § What behavioral interview questions are asked? § What role plays are done during the interview process? § What sales testing is in place?§ Where are your Sales Leaders coming from?§ What retention strategies are in place to keep top performers? § What relationship development skills and competencies are

expected and are they built into job descriptions from the top down?§ How are new employees Onboarded when they join the bank?


One Bank’s Acquisition Questions§ How much of your current business has come through your direct

sales efforts versus the amount you inherited from other portfolios?

§ How do you source and prospect ?

§ How do you secure telephone appointments with prospects?

§ How and when do you bring in partners?

§ How do you find new referral sources and how do you keep mind share with your COIs?

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One Bank’s Retention Questions

§ Talk about portfolio retention rates.

§ Give me an example of how you specifically add value to clients in your portfolio.

§ What words would your clients use to describe their relationship with you?

§ How do your stay current with Share of Heart events?

§ How likely is it that you know the COIs and trusted advisors of your top 10 clients?


One Bank’s Intangible Questions

§ Describe your pre-call planning process.

§ A prospect has suggested they will become your client if you lower your price. What do you say and do?

§ Describe how you use CRM.

§ Describe your post-call follow-up.

§ Discuss how you use LinkedIn as a social collaboration tool.

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Creating the Leadership Chain

Team Meetings

Check-Ins

Joint Calls/Observations

CoachingMeasurement


Three Types§ Huddle:

• Pre/de brief

§ Pipeline: • Strategic view of activities and team results

§ Skill Builder: • Training meeting

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Your Relationship Development Meetings§ Discuss the meetings that occur at your bank:

• Huddles• Pipelines• Skill Builders

§ Include:• When they occur• Format and timing• Subject matter• “Get to Go,” “Have to Go?”• What would you lose if you didn’t do them• One thing to make their/your meetings better


The Huddle

§ Review your team scorecard§ Identify team gap to goal§ Recognize individual successes (outcomes and activities)§ Identify improvement opportunities§ Create this week’s action plan § Determine specific outcome and activity goals for the coming

week

15-Minute Branch Check Up to:

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The Pipeline - Windshield not Rearview§ Meeting Introduction/Review of Success Tip

§ The Week in Review: • Team outcomes – gap to goal• Team activities – gap to goal• Review of wins and learns• Discussion of best practice

§ Conversation Strategies:• Hot Prospect Lottery• Book Review – Learning to Life• Skill Practice (Skill Builder monthly – shorter pipeline)• Partner Visit

§ Preview of the Coming Week

§ Success Tip of the Week – Insight question to ask everyone


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Ask Yourself…§ How do my meetings connect to our strategic, revenue, and

customer experience objectives?§ How do I interweave our Relationship Development process into

each meeting?§ What preparation is needed to make the meeting successful?§ How should participants prepare?§ What ROT does this meeting provide? § When partners attend the meeting, how do I prepare them? § What do I expect my people to do as a result of this meeting?§ How do I link this meeting to my other coaching responsibilities?§ How can I continue to make this a “get to” versus a “have to?”§ What would we lose if we did not have this meeting?


The Check-In Process

INFORMATION

QUESTIONS

EVP Retail

President

The Board of Directors

EVP Commercial

EVP Mortgage

EVP Trust

BranchManager

HeadTeller Personal

Banker

Teller

RelationshipManager

Originator TrustOfficer

RelationshipManager

RelationshipManager

Originator

Originator

TrustOfficer

TrustOfficer

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Check-In Guidelines§ Schedule in advance and make schedule consistent

§ In person (first), on the phone (second) – never via e-mail

§ Prepare in advance – you owe it to them

§ Keep to 15-20 minutes

§ Balance the conversation (You talk 20% - they 80%)

§ Discuss activities, behaviors, and outcomes (connect your scorecard)

§ Link to all other sales leadership routines - ”During our last coaching session”

§ Take good notes and create brief action plan

§ Focus on the future, touch on the past


Check-In Questions – Business Banker§ How’s the success tip working from our meeting? Be specific.§ Discuss your best call last week.§ How many relationship opportunities did you uncover last week?§ Talk about your prospecting success last week.§ What COI(s) did you reach out to last week?§ What did you do to add value to each of them? § What did you post on LinkedIn this week? What was the reaction?§ What appointments do you have this week?§ What joint calls should I be preparing for this week?§ What are you reading to improve your skills and personal growth?§ What can I do to help you this week?

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Check-In Questions – Personal Banker§ Discuss your Action Plan from our last Check-In.§ Discuss your best customer conversation last week.§ How many relationship opportunities did you uncover last week?§ Talk about your Onboarding call successes last week.§ When you left voice mails what did they sound like?§ What percent of them were returned and why?§ What service opportunities did you turn into relationship/referral

opportunities last week? § What appointments do you have this week?§ What telephone calls do you plan to make this week?§ What are you reading to improve your skills and personal

development?§ What in branch observation should I be preparing for this week?§ What can I do to help you this week?


A Simple Coaching Process§ Isolate

§ Discriminate

§ Observe

§ Communicate (Ask then Tell)

§ Simple Action Plan

§ Connect back to other routines

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A = B x C - D

Retail Sales Metrics That Matter

# F:F Meetings

Net New Accounts

Sales Conversion Ratio

Closed Accounts

(Win/Loss) x (Cross-Sell) x (90 Day Retention Rate)o Branch Sales Velocityo Total New Accounts Opened/Day/FTEo Total New Accounts Opened

Walk-In | Walk-Over | Appointments o # of Walk-Overs/Weeko # of F:F Meetings/Day/FTEo # of Service-Related Conversations/Dayo Service/Sales Conversion Ratio

Retail Metrics that Matter


B

C

MTD QTD Actual QTD Goal YTD Peer Ave Top 20%This Week

# of Campaign Leads

Lead Conversion Ratio

# of Teller Referrals

Referral Conversion Ratio

Total # of Proactive F:F Conversations

Total # New F:F Conversations

Win/Loss Ratio

Cross-Sell Ratio

90 Day Retention Ratio

F:F Conversion Ratio

Total # of New Accounts Opened

New Retail Checking Accounts

New Retail Deposits

New Retail Loans

15

0%

3

0%

0

38

21.6%

1.25

86.1%

27%

0

$21K

$52.5K

10

60

4%

15

4.7%

4

598

23.3%

1.2

85.4%

28%

16

$550K

$890K

167

180

4%

45

4.7%

10

1,873

23%

1.18

85.3%

27%

46

$1,880K

$2,650K

508

180

10%

45

10%

22

1,800

25%

1.25

90%

30%

60

$2,100K

$3,000K

540

180

7.8%

45

4.7%

17

1,881

27%

1.3

88.6%

35%

63

$2,550K

$3,680K

660

180

14.2%

45

10.1%

31

1,789

39.6%

1.41

93.8%

56%

78

$4,100K

$5,900K

999

Referrals To Partners 0 19 83 72 71 91

Retail Scorecard

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Sales = A x B x CVelocity D

Commercial Sales Metrics That Matter

Average Deal Size

# of Sales Ready Opportunities Average Time-To-Close

Win/Loss Ratio

o Average-Time-In-Stage

o Stage Probability To Closeo Stage Attrition Rateso Stage Conversion Rates

o New Accounts/Loan

o # of New Prospectso # of Prospects Workingo Prospect Conversion Ratioo # of Client Opportunitieso Client Opportunity Conversion Ratio

Commercial Metrics that Matter


Business Banking Rollup Scorecard

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Business Banking Coaching Scorecard


Some Questions to Take to the Bank§ How dynamic is our Relationship Development process?

§ How do we interweave it into to our daily, weekly, monthly routines?

§ How connected are the sales leadership routines?

§ What are the metrics that really matter for my organization?

§ Do we want a Sales Culture or a Relationship Development Culture?

§ What do we need to do to get there?

§ Do we have the Urgent Patience to make it work?

2018 year two graduate school of banking handoutaug 01, 2018 · jack d. hubbard chief experience...

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