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

CONQUERING THE CROSS-SELLING IMPERATIVE SUE BLASAVAGE JOANNE BAZ

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 SUE BLASAVAGE JOANNE BAZ

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 of 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?