KQ Article

It turns out that the more we use proven sales techniques, the more we erode trust and loyalty.

 

 

Front-line employees routinely find themselves in situations that require persuasiveness in one way or another, whether it involves selling a product or resolving a problem.

 

Wouldn’t skills in persuasion and influence be useful in these situations? Collaborative field research has revealed that many front-line employees are ill prepared in these areas, so they default to the traditional selling approaches to get them through. While these old approaches still result in sales, they leave the customer feeling disregarded and skeptical of the bank or banker’s competence, eroding trust.

 

Three Influencing and Selling Situations

Some bankers do an excellent job of selling and building trust simultaneously, accomplished based on the situation at hand. Here are three common influencing situations identified in our research. In each situation, the customers’ behavior tells the banker which situation is transpiring, which in turn positions the banker to appropriately respond.  

 

1. “The Stated Need”

In this situation, a customer walks in or phones the branch with a clear need in mind and an idea of how it should be addressed. The banker’s objective is to move the customer from a narrow, singular focus to a more conceptual view of the need at hand. This allows the banker to meet the immediate need and open the door to discussing other needs, building a more trusting and profitable long-term relationship.

 

2. “The Problem Situation”

In this situation, the customer’s need is sparked by a problem with an existing account or an action taken by the customer or bank. The banker must make the customer feel whole again, by immediately focusing on a problem’s resolution by seeking to understand it, offering options and co-creating a solution alongside the customer.

 

3. “The Misdiagnosis”

Like the Stated Need, this situation starts with an account holder contacting the branch with a need and an idea of how to address it. But in this situation, the banker immediately recognizes that the customer’s need would be better met with a different solution. The banker’s objective is to move the account holder away from what they say they want, to the different solution is actually required.

 

While these situations do not discount product knowledge and financial acumen, they do shift the emphasis to understanding the account holder’s needs. Each begins with the account holder talking and the banker listening.

 

_{© 2010 Heather Vaughan}