Selling financial servicesSelling financial services

20122012

Helping you through the learning curve

R.J.ClaessensR.J.Claessens&&PartnePartnersrs 1

The purpose of the seminar

Provide you with a selling technique and product

knowledge

Roger Jean Claessens is an International lecturer and an independent consultant for the financial services industry.

•Professor at UBI (United Business Institutes), Brussels•Expert lecturer for FEBELFIN (Federation of banks & insurance in Belgium) •Expert lecturer for the EIB in Luxembourg•Expert lecturer for BGL BNPPARIBAS amongst others

Author of :•“Corporate culture”, 2011, Serbian Bank Association (SBA) & AuthorHouse, UK•“What is a bank?”, 2009, Promoculture & AuthorHouse, UK•“A brief introduction to accounting”, 2008, Unibook, Belgium •“Marketing in financial services”, 2007, SBA •“Branch Management”, with P. Wiertz,2006, Promoculture & SBA •“Ethics, corporate values and prevention of money laundering”, 2006, SBA

From: www.rogerclaessens.eu

Content Day 1

1.Branding requirements

2.A “brief introduction” to the balance sheet

3.The impact of interest rates on the bank

4.Basic selling skills

Day 2

5.Case studies

6.Mastering delicate situations

7.Conclusions and review of what can be improved

8.Tips and tricks of the trade

4

Selling financial servicesModule 1

Branding requirements

6

WHICH is WHICH ?

7

CORPORATE CULTURE CORPORATE CULTURE = =

VISIBLE LEVEL VISIBLE LEVEL (BRANDING) (BRANDING)

& SHARED VALUES & SHARED VALUES

Substance

Selling financial servicesModule 2

A “brief introduction” to the Bank’s balance sheet

The concept of a balance sheet

What I HAVE What I OWE

10

Product type Current account in overdraft

Balance sheet type Current asset

Profitability Large margin over cost of funds

Risk profile Liquidity, solvency due to non repayment

Treasury impact Uncertainty, average outstanding needs to be used as guideline

Customer profile Known customer, middle to top segment

Documentation Account opening, financial statement, follow-up doc, memo’s of call.

Selling financial servicesModule 3

The impact of interest rates & economic indicators on the bank

Products & Services

GNP

CONSUMERS

Salaries, interest, rentalsLABOUR

ENTREPRENEURS

Offer

WHAT?HOW?

FOR WHOM?

Demand

Demand

Offer

Government Central Bank

5 Key tools of the central bank5 Key tools of the central bank1. The printing of money2. The short term interest rates3. The fractional reserve

requirements 4. The open market policy5. The financial structure of the

banks

(c) The intervention of the central bank

Selling financial servicesModule 4

Selling skills

15

Communication

The challenge is to be brief, structured, focused

16

Remember the basic structure of any message

Effective selling

Selling financial servicesModule 5

Case studies

Cases

• The seminar belongs to YOU and its success rests largely with you.

• Enter into the discussion.• Give freely of your experience.• Confine your discussion to the problem.• Say what you think.• Only one person should talk at a time.• Be patient with other members• Appreciate others point of view

18

Role playing (on a rotation basis)

• Seller • Client• 2 Observers

• What needs to be observed:– Structure of the dialogue (SPIN) – The aptitude to listen – The aptitude to describe a product– The understanding of the economic environment– The closing & the agreed follow up

19

Selling financial servicesModule 6

Mastering delicate situations & objections

21

Dealing with dissatisfied customers

The art of asking questions…..

22

Selling financial servicesModule 7

What can be improved?

The 20 steps TO IMPROVE on SALES The 20 steps TO IMPROVE on SALES

1. Examine every alternative

2. Use proven sales methods

3. Take the long term view with the short term in mind

4. Change selling proposals that are no longer attractive

5. Consider the implications of the customer’s decision

(continued)

24

Other final points

IF YOU TRULY WANT TO DEVELOP YOUR THINKING SKILLS, YOUR TASK IS ESSENTIALLY ONE OF SELF-DEVELOPMENT 25

Selling financial servicesModule 8

Tips & tricks of the trade!

27

ME incorporated = MY VALUES & MY NORMS

Self-efficiencySelf-efficiency

29

WHAT YOU COULD DO AFTER A GOOD SEMINAR