Why does this happen? Turning a prospect into a client, a dilemma
(A true story)
Successful.
Uneducated.
Wealthy.
Four priority bank accounts.
Four banks.
Four different Relationship Managers.
There is a fifth bank that also wants his business.
The fifth bank will get his business- if they do it right.
Why and how?
This particular “prospect” is an acquainance of one of the bank executives. The prospect is open with the executive, shares his personal life, discusses business matters and financial matters, socializes regularly with him, talks sports and even shares aspects of his social life. He respects the bank executive for his knowledge and there appears to be no threat. He is comfortable with the relationship. They are friends.
Interestingly enough, the bank executive is not a relationship manager- he is not in sales.
How does the bank executive do what is best for the bank, and “convert” this into a sale? That is the dilemma.
Clearly the “prospect” is an unsettled man. He has new-found wealth and is somewhat leery of the people around him. This is probably why he spreads his wealth between four banks and four relationship managers.
How many times have you come across this or a similar situation to this? A situation where there is a bond or relationship between a client or prospect and a non-sales related executive? From my experience in my days of technology sales, quite often the relationship was between the client and the sales engineer. Is that because there was no “threat” from the sales engineer? Was he providing more value? Was he not chasing the sales for the close? Most probably.
So why is this happening and why does it happen? And how do we turn the banking scenario around and turn it into a “sale?” I will let you figure that out on your own.
For related articles (and for a clue to why this may happen) see:
Two Simple Keys to Success in Sales
Want to Add Value in Your Sales “Process?” Try Adding Trust
The Agile Mind of a Salesperson: Motivation
Trip Allen, Team Egyii, Singapore
Tags: Banking, Communication Skills, Financial Services Sales, People Skills, Personal Development, Relationship Management, Sales, Sales Success, Singapore Banking, Trust
