CONQUERING THE CROSS-SELLING IMPERATIVE SUE BLASAVAGE JOANNE BAZ - - PowerPoint PPT Presentation

CONQUERING THE CROSS-SELLING IMPERATIVE

JOANNE BAZ SUE BLASAVAGE

Cross Helping Your Way to Increased Customer Profitability

Presented by: Sue Blasavage SVP, Retail Sales Manager

Agenda

• Trends
• Cross Helping Success
• Critical Success Factors
• Best Practices

Union Savings Bank

• Mutual community bank in western CT
• $2.4 billion in assets
• 28 branches plus call center
• Full service – retail, commercial, wealth

management

Household and Cross Sell Summary

• 51,038 Households
• 3.652 Accts per HH
• 2.127 Services per HH
• 70% checking account penetration
• 30 %still single service – great opportunity

to cross help our ss hh’s

Trends

• Branch traffic/transactions continue to

decline rapidly due to electronic delivery

• Customers who visit the branch are

seeking expert advice from trusted professionals

• Can no longer apply one method of selling

to all customer segments

Cross Helping Success

• Paradigm shift from cross selling to cross helping

− Bank Mission Statement sets the bar high

• Foster a bank culture of exceptional service – it

directly relates to cross helping success

• Require that team members engage in more

meaningful relationship building discussions starting at teller line

• Electronic delivery channels can enhance

customer experience

− Use your team to showcase your electronic channels

Critical Success Factors at USB

• 1. Systems – customer relationship

accessible to all reps who interact with clients

• 2. Defined Sales Process
• SCORE
• High Touch Lobby Engagement
• Relationship Building Scorecard

Critical Success Factors at USB (continued)

• 3. Clear Job Descriptions/Clear

Expectations for sales staff (hire the right people for sales)

• 4. Training and Coaching

− Soft Skills on how to build relationships by asking the right questions every time − Practice, Practice, Practice − Consistent and positive feedback from Manager when back in branch

Critical Success Factors at USB (continued)

• 5. Reward and Recognition Programs

− Weekly feedback for those who show positive behavior change − Quarterly Incentive tied to relationship building − Mystery shop program tied to relationship building − Formal monthly coaching to celebrate success

Best Practices

• High touch lobby engagement
• Designed and implemented relationship building

template that is required in every platform interaction

• Developed and Implemented Sales training to focus on

how to ask the right questions − When right questions are asked, the customer self identifies the need and the sale becomes a solution to help the client meet that need

• Track, measure , and reward incremental changes in

behavior

• Managers required to observe and provide feedback
• Package products/services

Cross Helping Tactics

• Weekly Conference call for Wealth Management

(record results in last year)

• SBLI Reps (record results)
• Training, Tools, Coaching, and Employee

Engagement

• Outbound sales through call center
• Outbound calls 3 - 5 per branch rep each day
• Maximize email blasts to reach clients
• Pre-approvals with easy to sign up methods

Online banking, e-statement, cash reserve

Sue Blasavage Union Savings Bank T: 203.830.4200 ext.8298 sblasavage@unionsavings.com Awilda Caisse Union Savings Bank T: 203.830.4200 ext.4252 acaisse@unionsavings.com

CONQUERING THE CROSS-SELLING IMPERATIVE

JOANNE BAZ SUE BLASAVAGE

JOANNE BAZ . VICE PRESIDENT REGIONAL BRANCH MANAGER

Talking Points

• Background
• Mission Statement
• In the Beginning
• Sales Journey
• Successes

Background

 Opened in 1915, oldest credit union in State of RI  1.3 Billion assets  13 Branch offices  62,400 members in 42,571 households  3.5 services per household  Service offerings include

 Retail Banking & Lending  Commercial Banking and Lending  Financial Services

Mission Statement

To Improve the Financial Lives

• f Our Members

In the Beginning

• Great order takers
• We asked ourselves…. Are we really improving the

financial lives of our members?

• Found the need to become proactive consultants
• Compensation was not goal oriented

Our Sales Journey

• 3-5 year process
• Hired trainers
• Developed tracking systems
• Empowered front line staff
• Allowed for performance accountability
• Implemented goal-oriented compensation

Current Successes

• Fostering better relationships through education
• Growing PFI relationships
• Increasing growth organically
• Exceeding service standards
• Achieving strategic deposit and lending goals
• Developing profitable memberships

QUESTIONS?