Ned Miller works with bank sales leaders to improve their sales results, incorporate more productive systems, and transform the way they work. His mission is to help Sales Leaders and their teams achieve definite, long-term, measurable success. In this episode, he talks about the seven habits that a successful relationship manager has.
Ned’s background and what he does now ([01:33] – [02:28])
Ned is an ex-banker, and for the past 30 years, has worked with bankers to improve their sales results. His goal is to help people be more successful in targeting business customers, be more productive, and more successful at getting the results they are looking for.
Favorite success quote ([02:29] – [03:45])
Ned keeps this posted above his computer. “I sell future benefits at a deep discount.”
It reminds him that when he is helping his business customer or prospecting, it is essential to always think about what will benefit them.
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The research shows that business owners are looking for people who are curious about their situation and are prepared to engage and ask questions. It’s essential to think about the business issues that the organization might be going through. What is going to be of value to customers and prospects?
Habit 2: Focus on them and not on your products ([13:10] – [16:49])
In the initial conversations, the focus shouldn’t be on the bank’s products or services. The focus should be on the business, what their business model is, their current challenges, and where they think the company is going.
Habit 3: Positioning ideas ([16:49] – [17:41])
Rather than sell your products directly, position ideas that may help them, and products that may help them right now or in the future. Explain how your bank can support expansion, even if it’s not on the table right now. See if they might be interested in talking about their finances.
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Habit 5: Leverage Internal Resources ([22:13] – [24:52])
This habit is about leveraging your partners in other lines of business. High performers typically conduct relationship reviews with their top clients and top prospects involving other members of their team. A different perspective can bring a lot to your strategy.
Habit 6: Taking the long term view ([26:00] – [27:08])
The sales cycles for a prospect can take a long time. Prospecting a business client could take 18-24 months of dangerous calling. You have to be patient and consistent with building a relationship that allows you to help them by offering your products.
Habit 7: Sharing business insights and expertise ([27:08] – [28:32])
High performing relationship managers win business by sharing business insights and knowledge. You have to offer value to the other party, and this is a way of doing that.
Gaining specialist knowledge ([28:32] – [31:13])
Some relationship managers specialize in a niche or a focus on verticals that have similar problems. They get more profound experience in those industries by doing research, going to events, and learning from clients. Relationship Managers can also utilize resources in their organization and sources of industry information.
Finish the year strong ([33:20] – [34:31])
We’re in the 4th quarter of the year, and Ned thinks it is vital to finish the year strong. Keep calling. Keep trying to get in front of people. Take advantage of any networking opportunities available. Think about what you need to do to get better.