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Customer centric financial selling with Mercuri

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Developing people to professionally and ethically win and grow customers.

The response to mis-selling should not be no-selling, it must be professional-selling. Customer Centric Financial Selling with Mercuri will enable you to do just that.

Please call Mat on +44 7572 343 341 for more details.
http://mercuri.co.uk/how-can-mercuri-international-help

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Customer centric financial selling with Mercuri

  1. 1. Taking Sales to a Higher Level Customer Centric Financial Selling Developing people to professionally and ethically win and grow customers The Challenge A key issue facing market leaders, aspiring businesses and boutiques is how to achieve growth while successfully managing commercial, reputational and regulatory risk. Market share, share of wallet, volumes and margins are all very important but they must be achieved in a context of “fair customer outcomes”. Customer-Centric Selling will enable your people to move from a product-centred transactional style to value-based consultative approach, driven by the customer’s requirements. Mercuri tailor developmental content to client requirements so any learning experience in anchored in their real world. For more information please contact us on +44 (0) 330 9000 800 or email us at clientservices@mercuri.co.uk www.mercuri.co.uk The Mercuri Solution “I listen more in meetings, giving time for the customer to express themselves..” Customer-Centric Selling enables people in business development roles to move from a product-centred transactional style to a value- based consultative approach, driven by the customer’s requirements. Effective diagnosis requires a clear understanding of the areas for improvement. Our ways of working include: Interviews with managers, front-line staff and subject matter experts to analyse processes and practices plus observed sales meetings where appropriate. Mercuri’s On-line Competence Evaluator tool can assess the current capability of your people and benchmark them to our up to date ‘best in class’ library SCAN self-assessment surveys to measure ‘before and after’ ability and confidence to measure the effectiveness and impact of development. Diagnosis Design We work with you to customise your solution using our proven concepts. This ensures that the solution works and can be implemented. The level of customisation varies from editing a case study to integrating your sales processes and models.
  2. 2. We use a blended learning approach to achieve learning objectives and outcomes. Multi-media components are used to introduce and reinforce concepts. This means that face to face workshops are used for experiential competence reinforcement. Our flexible structures means workshops can run from 1 to 5 days to suit your operational needs. Our principle formats are: Selling to Customer Needs: Facilitator led skills development with punchy concepts reinforced by frequent practice. IMPACT™ projects: Focussing skills onto specific market-driven events e.g. campaigns, market entry, product introduction. Raising the Bar: “Learning by doing” simulation which challenges participants to demonstrate their new skills in a competitive team selling event. Our international sector facilitation team is hand-picked to ensure relevant experience and likely cultural fit. Customer Centric Financial Selling The emphasis of the content will depend on your situation but we focus on key sales stages in a logical sequence: Selecting the right opportunities to ensure the most profitable ones, with the best chance of winning, are pursued. Planning and time management to optimise efficiency. Understanding buyer motivation and what makes customers choose between different providers. Engaging with the customer – building rapport, getting the meeting off to a good start, positioning of the sales person and their organisation. Understanding the customer and qualifying their requirements. Forming and proposing a compelling and relevant solution. Handling price and other relevant commercial aspects. Addressing concerns and objections. Getting commitment from the customer to move forward and keeping the initiative through to engagement. Design continued… For more information please contact us on +44 (0) 330 9000 800 or email us at clientservices@mercuri.co.uk www.mercuri.co.uk Delivery Implementation is key to success and Return on Investment. It needs to be designed in from the beginning. Our approaches include: Coaching. Can be face-to-face, online or over the phone. Ideally we will engage with your coaches and sales leaders so that they do the coaching but we can and do coach direct where appropriate. Online learning. Standard or bespoke content delivered through yours or our Learning Management System. Playbooks and toolkits. Detailed selling guides on your or our intranet or paper-based. Tools include objection banks, checklists, video shorts, aide-memoires. Measurement. Follow up surveys or interviews to measure changes in understanding, behaviour and result. Deployment Implementation needs to be considered and planned into the project design from the beginning
  3. 3. For more information please contact us on +44 (0) 330 9000 800 or email us at clientservices@mercuri.co.uk www.mercuri.co.uk Development in customer-centric selling will only be successful if there is a sustained change in behaviour; if the processes become an embedded part of “Business As Usual”; and if there is measurable change in result. In practice, this means that senior management needs to lead the change and, monitor the changes in activity and result, support first-line leaders in making the change happen. Often the KPIs will need to realign with the changed behaviours. Some processes and management practices may need to change. Mercuri International do not wish to create long–term dependency so the business needs to take ownership of the changes. However, we do not walk away from projects once the delivery stage is complete and will want to work with you through deployment into durability. What does a durable customer-centric selling programme result in? Here are a few examples: Major European Life Insurer trained 2/3 of its UK team. The results were compared against the 1/3 control group by measuring year-on-year income growth. In a very successful year and supported by strong marketing campaigns, the control group achieved 25% growth. But the trained group achieved 102% growth in year-on-year income. A group of 41 employee benefits consultant directors received 2+2 days’ training followed by three months’ tele-mentoring. The firm’s actuaries identified £1.92Mn of incremental income in the first three months that they attributed directly to the training. Durability We trained over 500 trade & receivable finance bankers in 24 countries. The training was measured as reaching 92% of its objectives. There were 158 concrete examples of RoI such as: “Since the training I have specifically used the summarising that is crucial to validate understanding of the meeting and obtaining the customers buy-in and commitment to next steps. A recent meeting has resulted in winning a guarantee portfolio business worth approx.$75K” A project with the wealth management team of a bank in central Europe saw the following effect: • The two largest branches saw result against demanding targets of 213% and 156% respectively. • Across all branches results against target ranged from 90%-275% for standard accounts and 100%- 203% for High Net Worth accounts. Customer Centric Financial Selling Across all branches results against target ranged from 90%-275% for standard accounts and 100%-203% for High Net Worth accounts

Developing people to professionally and ethically win and grow customers. The response to mis-selling should not be no-selling, it must be professional-selling. Customer Centric Financial Selling with Mercuri will enable you to do just that. Please call Mat on +44 7572 343 341 for more details. http://mercuri.co.uk/how-can-mercuri-international-help

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