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Aligning Effort To Reward: The Journey To Boosting Sales Effectiveness For Banks

Aligning Effort To Reward: The Journey To Boosting Sales Effectiveness For Banks

West Monroe
Published by: Research Desk Released: Oct 24, 2020

Many banks entered the COVID-19 economy lacking a unified, strategic sales culture. Sales cultures across commercial banking are typically dotted with ever-changing direction from leadership, a product-of-the-month mentality, and tasking single relationship managers (RMs) to represent and sell a range of products and services. As bankers attempt to sell the entire bank, they typically spread sales activities thinly and inconsistently across all product goal categories. Complicating matters, most sales processes are not implemented on an enterprise-wide scale, leaving accountability and goals inconsistent across regions. As a result, RMs lack focus and commitment-to-win specific sales opportunities, all of which contribute to underperforming sales teams.

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