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Sales Habits Mistakes for Finance Banking

Finance and Banking – Habits That Prevent You From Closing More Sales

Being a sales manager is a juggling act. More so when you work for the finance or bank industry. The deluge of information that you are expected to absorb, the long hours on the phone, the back and forth between clients, not to mention having to maintain that chipper and expert attitude all day. There’s obviously a lot of things to handle. But if you are not closing as many sales as you expect, then take note, because you may be falling short in some of these areas.

1) Not Qualifying

You do not want to waste your time with unqualified leads. We know this isn’t only just the sales department’s responsibility as we’ve discussed in a previous post. Double check your company’s lead scoring techniques and work closely with your marketing team to give your own department a better and more efficient use of your time and skills.

2) Not Establishing Enough Trust and Rapport

Too often we fall into practiced and (honestly) dry sales tactics that clients see through. Remember that buying decisions are primarily emotional. Which means a potential client’s feeling of whether or not he or she likes you will greatly determine your success. A natural, spontaneous and genuine vibe is what potential clients will respond too. Throw away some of your practiced lines and really listen and respond to what your lead is asking. You want them to feel like you care for them and are not just there to make a sale.

3) Talking Too Much

Some sales people think that demonstrating their know-how will earn a client’s trust. While knowledge of the industry will be much appreciated and expected, don’t overwhelm your lead or chatter until they get to the point of boredom or annoyance. Attention span is precious. Keep your information sleek and concise.

Sales people talk too much sometimes.

Slow down, no one’s doing a word count.

4). Not Communicating Your Value Effectively.

The client needs to know your business’s value to them. How are you demonstrating this?

Take a look at this advise from Jill Konrath on increasing your closing ratio:

“Know your impact. Make sure you’re clearly able to articulate the business value of your offering. You should ensure that you’re talking about key business drivers such as reduced operating costs, increase sales conversation rates or improved efficient. Adding metrics makes your message even more impactful.”

In the world of banking or finance of course, metrics/numbers talk. Once your client’s needs are evident, you can fine tune your presentation to meet their specific needs and preferences. On top of slides and portfolios, we suggest exploring interactive tools that will help you demonstrate these to your leads. Using interactive tools like an ROI calculator also greatly increases a lead’s emotional response to the discussion because of its dynamic nature.

roi-calculator-sample

On top of slides and portfolios, we suggest exploring interactive tools that will help you demonstrate these to your leads. Using interactive tools like an ROI calculator also greatly increases a lead’s emotional response to the discussion because of its dynamic nature.

Not closing a sale is like missing a slam dunk.

Just when you thought you had it… what happened?

5) Not Fully Understanding Your Lead’s Pace

We are talking about their timing and priorities, not yours. This includes their process for evaluation, selection and a number of other factors. This is where your patience is needed most. You don’t want to be too assertive.

“Objections usually evidence that the seller has made mistakes by pushing before trust and value has been established and without the necessary understanding of their timing, priorities and processes.” ~ Tony J. Hughes

You’ve established a rapport and have created a great and convincing presentation. Allow your potential customer time to ponder and get insight and discuss with other decision makers if there are any. Most saless experts will tell you, as much as talking is key in selling, so if knowing when to shut up.

Why ROI Calculators are great for B2B companies

ROI calculators is a must-have for all B2B companies

A ROI (Return Of Investment) calculator is a key element when it comes to B2B sales.

As the leading ROI calculator software company we see ROI calculators used in the following situations:

  • ROI calculators help you generate more awareness and visitors
  • ROI calculators generate leads online.
  • ROI calculators support sales reps when communicating face-to-face with potential clients
  • ROI calculators are used as a supporting tool to help guide potential clients through the sales funnel

How an ROI calculator can help you get more traffic and generate more leads

An ROI calculator on your website helps you communicate your selling points for each visitor – using their numbers and input.

We recommend launching calculators as stand alone landing pages and to link to that from your front page and to generate traffic for these from your front page or from ads directly.

By launching calculators as stand alone landing pages you ensure that your customers keep their focus on the calculator. As the calculator is a conversion element on your page you don’t want them to navigate away from that once they’ve started.

Now let’s imagine you’ve launched your calculator as a stand alone landing page on it’s own subdomain. You are now ready to generate leads.

We recommend boosting traffic for your calculator through online advertising – directly from Search engines (such as Google), through social media and perhaps even directly towards selected target companies.

Quite often we see extremely great conversion rate from the following setup: Google Adwords and online calculators are a great mix

Google Adwords and online calculators are a great mix. Google adwords has the following advantages over other traffic sources:

  • With Google adwords creating a campaign and getting it started can be done in just a few hours
  • With Google adwords you can choose to pay per visitor on your website
  • With Google adwords you can add your own text – thereby ensuring that your visitors know what to expect when they land on your page

We’ve seen combining LeadDoubler with Google adwords can boost a new company or department from zero to fully booked in less than 24 hours.

Example

Imagine you want more clients in your technology based company where you sell a device that will help your clients save tons of money and time by automating something.

Your clients might not know that your product exist or that your service allows them to save money after purchasing it.

If that’s the situation – pushing your message through online advertising can make the change for you.

The good news is that marketing might just work for you – the bad news is that you probably need to motivate your potential clients to even click your ad in the first place.

If you setup a google adwords ad as the example below you might just see great results and better conversion rates in just a few hours.

Heatpump calculator Calculate your savings from installing a heatpump! www.yourwebsite.com

Here’s why it is so amazingly effective when combining it with LeadDoubler.

In the ad we tell the user exactly what to expect when they click the ad (Calculate your savings). If the ad then leads to a page with nothing but a calculator – then they’ve got exactly what they asked for in the ad and will thus be well motivated to actually calculate their savings when they enter the calculator.

In the calculator we’ll then ask for their contact information – before or after showing them their calculated results – and will thereby convert some of the visitors into leads.

We see conversion rates up to 20% on our online calculators!

How calculators can support sales reps

During the dialogue between the client and your sales reps a calculator can support the sales reps by:

  • Helping the potential client calculate their own ROI through the calculator running as an app on an iPad
  • Helping the sales rep keep the potential client focussed on the values of your offer
  • Help the sales rep by removing the need for them to know every nitty griddy details of all your services and products

When you’ve created a calculator in LeadDoubler pushing it online through our native iOS app is easily done and allows you to manage what sales reps can use what calculators.

How calculators can help you drive more sales through the sales funnel

When you’re communicating with your clients that located somewhere in your sales funnel – sending them a link to an ROI calculator is an excellent way to force them to look at the full value of your services instead of just focusing on details like price or SLA’s help you get your prospects into the right mindset to move forward and helps you alone by allowing you to send them something that’s not pushy.

You can send them an email like the one below:

Hi xyz

This is Dan from Mark’s. I just wanted to show you our new ROI calculator: LinkToROICalculator.YourDomain.com – you can try it now – or if you want I can give you a call friday 9 am to have a fast chat about it. Can you talk 9 am friday?

Yours

Dan

The email will allow you to talk about something else than the offer itself – and will maybe make the potential client look at your offer with new eyes – after having verified the great ROI your service have for him / her.

How to get started boosting your company

Now that you’ve seen how ROI calcalators can boost your sales – it’s time to get your first calculator online.

See: How to create an ROI calculator in 5 min

You can also get a quote for a calculator or contact us by email: support@leaddoubler.com