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AnyBank - CRM - Tools for Sales Personnel


If you are incharge of a Sales Team that sells financial products like Personal or Home Loans, Credit or Debit Cards, Insurance, Mutual Funds you would understand the difficulty in getting your message across to the right people. Usually your sales team spends several hours explaining the product and trying to convince people to sign-up only to trigger their defense mechanisms and end up being declined. This is because Financial products are intangibles you can't sell them like you sell a car there, are no "test drives" to take. 

Having said this you don't have to move heaven and earth to sell Financial products, with the right tools and methods sucess will follow. The motive should be to 

  1. Sell trust and not the products
  2. Be a good teacher and educate your prospects on financial planning rather than about the product
  3. Respect the price sensitiveness of your prospects

To gain the trust of your prospect its important that you connect to them at a much deeper level than treating them as a row in an excel sheet or a record in your CRM application. Be a good teacher and educate them about the importance of Financial Goals and Finanacial Planning. You are likely to encouter resistence at this stage, people might not be comfortable in sharing their financil goals with a stranger. You might have to make multiple calls to get the convcerstaion going smoothly. Keep a record of all that transpired in your CRM. Pick up where you left off in your next meeting. AB CAPS has a call and visit tracker to keep these notes, so that you can refer to them before you meet someone.

Being a good teacher sound good but then the portfolio of products can be so huge that you might end up boring the client. So you need to pick up specific products that you think the client might be interested in. AB CAPS has an algorithm driven eligibility and Profiling tool that helps identify to a certain degree the kind of producs that a prospect might be looking for. Use it to specifically target people with these shortlisted products, this approach will save you a great deal of time and also increase the chances of sign-ups.

Customers are price senstive and react to charges, fees. Its important to respect this and at the sametime ensure that you don't sell your product and services at unfavorably low prices. In this case the idea is to have a sufficient spread in your rates and charges to serve as a negotiation buffer. You can do this if you automate the routine tasks that are involved in your workflows. AB CAPS has automated most functions, infact it has only three points where manual intervention is required. Workflows for eligibility, risk profiling, credit underwriting etc are all automated freeing up manual labour from mundane tasks and making them available for more cereberal activities in the organisation.

AB CAPS automates sales workflows to provide Sales People with a curated set of leads to focus on. It could be one of the most valuable tools in your arsenal for curating leads.


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