Bank Sales Myth #2: "It's a numbers game"

 

One of the first goals my first boss in banking set for me was to make 50 cold calls a day.  His logic being, I didn't have an established portfolio, and the best way to find new customers is to reach out to your targeted leads, make cold calls, and schedule appointments to meet.  

His favorite saying was, "Sales is a numbers game!"  

What a load of crap.  Give a banker 10 good leads they can work with, and they will close more deals than a banker with 100 cold call "prospects."

Everytime

Fortunately for me (and in my opinion, to the benefit of the banking world.  If anything because I was seriously considering quitting, which means that this whole Sales Math experiment would probably never have happened.  Hopefully that thought makes you as sad as it does me.), he was forced out of the industry shortly thereafter, and my next boss allowed me to take an entirely different, and far more productive, approach...and that's what this week's video is all about.  

Three Big Takeaways

1.  Especially in the age of social media, more calls/leads does not equal more deals getting done.  Period. 

2.  Your sales success depends more on your ability to identify and connect with QUALITY leads, develop relationships that matter, create an effective follow-up plan, and communicate your value.  

3.  When in doubt take a serious look at your communication and ask yourself, is it all about me and what I'm selling, or is it about them and what's happening in their business/lives?  

Matt Middendorp is a nationally acclaimed speaker and sales coach with over 20 years of experience turning connections into customers and advocates. In 2013, Matt founded Sales Math, and debuted his “Formula for Success” sales training system to bankers across the country. From the beginning, Matt’s clients have experienced learning that is fun, meaningful, and makes a difference in the real world. Today, Matt’s core philosophies of “Learn Together, Do Together, Grow Together” are taught through in-person coaching, online as part of the Cool Bankers Academy, and by his leadership of the Cool Bankers Club Facebook Group. His clients are making their goals faster and easier based on the confidence and skills gained from learning a sales process tailored to ensure they aren’t “just another banker” in the communities they serve.  

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