Ritesh Kumar’s Post

It’s tough to see a job once focused on helping customers transform into a relentless push for sales. What was once about providing real financial support is now driven by quotas and targets. This unnecessary sales presure not only increases stress for bank employees but also erodes the trust that should be the foundation of banking. When sales take over, the job becomes less about people and more about numbers—a change that benefits no one in the long run. #Bankers

FUNDAMENTALS OF TREASURY SALES | Online 11 March - 1 April 2024, 13h00-16h00 CAT   The success of any Treasure Sales resource revolves around understanding the client’s business risks and resultant requirements and being able to solution the most appropriate product or service to mitigate these risks and requirements. The Treasury Sales force is responsible for funnelling the constant stream of business that occurs on a daily basis into their own bank, but what most salespeople lack is the ability to step outside of their own respective product or service area, viewing a client’s risk on a holistic basis and being able to deliver the bank to the client in a product-neutral manner. This comprehensive workshop will provide attendees with:  - A thorough understanding of the business risks and requirements of their clients.  - The knowledge to suggest the most appropriate product or service to address a client’s need.  - The ability to recognise opportunities to gain market share for their bank.  - The tools to formulate ways in which they can assist clients better, due to a thorough understanding of where a client comes from. The course will be extremely valuable to the following people: Front Office Sales at Banks Treasury and Trade Solutions Sales Staff Operations staff moving into a Front Office role Support areas (such as credit, legal and compliance) Corporate Treasury Staff #TreasurySales

Why are Sales Important in Banking ? 1. Driving Revenue Growth: It creates revenue for the banks. It promotes and sells financial services and products. This brings profit to the banks. 2. Meeting Financial Goals: It plays a crucial role in meeting financial targets. For instance, by selling upgraded products, sales can help banks to expand their earnings. 3. Enhancing Customer Relationships: It improves customer experience. Sales professionals are trained to listen and build trust with customers. This leads to a positive interaction wherein a customer feels satisfied. 4. Customer Education: This creates multiple job opportunities in sales in the banking sector. With professional training, a candidate can acquire job roles. 5. Competitive Advantage: This growth will need the banks to bring in more customers for themselves. 6. Advising on Product Development: It provides valuable advice to banks in terms of the development of new products and services. This advice would relate to the needs and demands of the customer, thereby, bringing more customers to the bank. 7. Building a Brand Name: It helps to build a brand name. As it creates a personalized and positive customer experience, a sales team can also help to build a positive brand image for a bank.

4E Sales Model: EXPLORE Taking the time to truly learn all about your customer's financial challenges and goals is the easiest way to win their hearts and minds. That's how you build long lasting and mutually rewarding relationships. But too many bankers ask too few questions with the sole purpose of uncovering a specific need that they can immediately solve. That may help you sell a bank product but it won't help you win a customer. After you encourage a new prospect to meet, let them know that you will be asking questions to explore all their needs so you can offer the best advice to achieve their goals more easily. Develop a comprehensive list of questions with your colleagues from across the bank so you can explore all your customer's needs better. Message me for tips and ideas on achieving Sales Excellence. #salesexcellence #salestraining #communitybanking #bankers #financeprofessionals #salesprocess #moremeetings #4Esalesmodel

TREASURY SALES WORKSHOP Face to Face, Sandton or Online - 11-13 September 2024 The success of any Treasury Sales resource revolves around understanding the client’s business risks and resultant requirements and being able to solution the most appropriate product or service to mitigate these risks and requirements. The Treasury Sales force is responsible for funneling the constant stream of business that occurs on a daily basis into their own bank, but what most salespeople lack is the ability to step outside of their own respective product or service area, viewing a client’s risk on a holistic basis and being able to deliver the bank to the client in a product-neutral manner. Learning Outcomes: This comprehensive workshop will provide attendees with:  - A thorough understanding of the business risks and requirements of their clients.  - The knowledge to suggest the most appropriate product or service to address a client’s need.  - The ability to recognise opportunities to gain market share for their bank.  - The tools to formulate ways in which they can assist clients better, due to a thorough understanding of where a client comes from.  Who should attend? The course will be extremely valuable to the following people: Front Office Sales at Banks Treasury and Trade Solutions Sales Staff Operations staff moving into a Front Office role Support areas (such as credit, legal and compliance) Corporate Treasury Staff For more information, click here: https://lnkd.in/dh_fPtjb

# Sales Strategy in Bank The best sales strategy in a bank should focus on understanding customer needs, offering personalized financial products and services, leveraging technology, and continuously monitoring and improving sales performance.

Today , I will discuss cross seling and efficiency ratio of any organization particularly Banks. I know there are 2 schools of thoughts ,one want to do only core business of the bank ,other wants to provide complete financial solutions. let us assume ourself being a customer of a bank , Do we require only deposit or loan relationship or any thing more ! Looking at challenges of thining NIM and challenging efficiency ratio non interest expenses divided by revenue of the bank which ideally to be near to 50 % as global benchmark , as to earn every dollar ,we have to spend half as expenses . now cross selling in my view is complete solutions. a self employed customer mainly business customers if you take from SNEs especially, we can provide all kinds of products, deposits , remittance trade finance products, derivatives in case of export import, plastic cards ,advisory services, loans, bancassurance among others , almost everything . it will enhance the revenue ranges ,will improve efficiency ratio, act as ring fencing for clients in case the clients want to move to another bank ! let us be complete financial solutions provider, no push selling ,need based, business ethics important.

👇 Are you a sales/Relationship manager in the bank and struggling to enhance your technical knowledge? Then these videos 👇 are for you. I am building a course specifically designed for the needs of the sales team so that they can perform their job in a better way. Presently I have made 9 videos and am planning on making 5-6 more for the sales team. Here is the complete playlist link 👇 https://lnkd.in/gab4KCbE Video 1: How to enhance your knowledge? https://lnkd.in/gWN__A_H Video 2: Understand the complete profile of a sales manager or relationship manager https://lnkd.in/gwS7BWCa Video 3: What questions you should ask from the borrower in the first meeting itself https://lnkd.in/gA5uQrBU Video 4: How to do a quick analysis of the balance sheet https://lnkd.in/g3REg49x Video 5: How to do quick analysis of profit and loss account https://lnkd.in/gwBEzgcg Video 6: How to resolve CIBIL queries of credit manager https://lnkd.in/g4aJXbrx Video 7: How to justify the declining sales trend https://lnkd.in/g5Rckqpp Video 8: How to justify a declining profit trend https://lnkd.in/gBSpA88s Video 9: Meaning of all the ratios https://lnkd.in/gY-HKEa5

The salesperson’s role doesn’t end with signing a deal. There are two key steps after that. The first step after signing a deal is that you need to ensure that the revenue is realized. Revenue realization means you are able to invoice the customer as per the goods or services delivered. Once that is done you need to be sure that money is hitting your company’s bank account. That is collection Yes, only once the money hits the bank account your sale is complete #happyselling #saleswithsamrat NovaVente ThoughtMinds

4E Sales Model: ENCOURAGE Most potential new customers already have a banker and/or may not feel they have a need for your solutions. So why would they want to meet with you? It is your job to encourage them to meet. Identify who you want to meet and consider what would motivate them to meet with you. Contacting prospects so you can learn more about them and tell them all about your wonderful solutions is YOUR motivation to meet .... NOT THEIR motivation. Position yourself as a valuable finance adviser who clearly understands their challenges (be specific) and who genuinely wants to offer advice to make their life better. Now THAT sounds like someone I would be encouraged to meet! #salesexcellence #salestraining #communitybanking #bankers #financeprofessionals #salesprocess #moremeetings #4Esalesmodel