Hey, don’t look now but it’s October and officially it’s the start of the 4th quarter. This year’s sales game is almost over. Bankers have just 3 more months to get those final deals completed and on the books. The good news is they have lots of fun holidays ahead to enjoy…Halloween, Thanksgiving and Christmas. The bad news is there are only 3 more months left in the year for bankers to make their 2015 sales goals. And those months are cut short because of all the time the bankers and their customers take off for holidays! So what can bankers do in the next 3 months to guarantee that they will reach or exceed their sales goal?
First step…don’t panic! I love the old saying…”When the going gets tough the tough get going!” It's time to get going! So here are four things bankers can do in the 4th quarter to get their sales numbers up before year-end.
1. Revisit every outstanding deal or proposal they’ve worked on this year. Go back to the customers that turned them down initially just to see if they are still happy with their decision. Hey, the banker has already invested their time and energy in these customers so why not check back in to see if there are other opportunities.
2. Call on the “A” prospects now. They were the banker’s “A” prospects for a reason so take another run at them. The banker should do something different on this call to demonstrate how serious they are about getting the prospect’s business. This can include taking along key bank partners or providing valuable industry information that could be useful to the prospect. The banker should have a good reason for the prospect to meet again and have a great call strategy.
3. Meet with the bank’s biggest and best customers again. In these meetings, the banker should review their current banking relationship and encourage the customer to discuss their plans, strategies and needs for next year. This will give the banker an opportunity to uncover any new banking needs. The best part of calling on current customers is the sale cycle will be shorter because customer already has a relationship with the banker.
4. Go hunt an elephant. The banker should find the biggest, toughest prospect in the market and go call on them. This is a gutsy play but it’s the 4th Quarter and it’s time for a “Hail Mary” pass. Who knows, the banker may show up just when the prospect is unhappy with their current bank and looking for another banking relationship. And even if the banker doesn’t get immediate business, they have established a relationship with their biggest prospect for next year’s sales effort.
Winning sports teams know how important the 4th Quarter is and so should bankers. This is not the time to just glide into the New Year. There’s lots of sales opportunities out there and the bankers that get busy now will take advantage of these opportunities. Or they could just enjoy the holidays and hope 2016 will be a better year. That’s the choice.
If you would like to learn more about year-end sales strategies, contact us today!