Financial Services Professionals | Take Advantage of Financial Planning Month

October is financial planning month, and for financial services companies, it is an ideal time to reach your client base. For advisors, bankers and even insurance agents and producers, phone outreach to prospects and existing clients should be a top priority.

However, it’s time to take the same advice you give your customers and put your sales team’s performance and financial future first by making the right investments.

The phone is ever important in this industry, but are you using it to your utmost advantage?

By investing in a sales tool and establishing a management methodology, financial organizations can make the most out of rep activity, surpass quotas, and set higher revenue standards. Here’s how:

Pt. I: Start Spending on Sales Enablement

If you work in financial services, it is likely that you encourage your customers to make sound investments that will generate greater profit or future benefits. And the same should go for your sales team. Invest in a tool that will multiply your revenue potential by optimizing individual agent performance. Empower your team to grow, and so will your opportunities.

One area that developments in technology have enabled over the past two decades is the ability for sales managers to access call activity data. Implementing a tool can deliver this data and a strategic approach to sales enablement. The technology is here, so don’t fall behind the competition. By making this investment, you will set higher performance and revenue standards for your organization and ensure a more successful financial future.

Don’t know if spending on sales enablement is worth it? Think of it this way; at companies with sales enablement strategies, 84% of reps achieve quota (Aberdeen). Sales tools benefit reps as they eliminate the need to manually input data, and let reps return their focus to revenue-generating activities like making cold calls. Further, these tools benefit managers by giving them the insights they need to effectively coach and train their teams towards success. After all, daily activity data is key to successful sales management.

Pt. II: Establish a Methodology

Undoubtedly, there is carefully calculated thought and process that goes behind planning your customer’s financial future. Why not do the same for your organization? Successful sales management is nearly impossible if managers don’t know what their reps or agents are doing each day. So, in addition to sales enablement, one of the best things you can do for your sales team is to establish a methodology.

A balance between technology and training is the key to effective management. It is people, process, and technology working together that form a sustained environment of continuous improvement. After investing in sales enablement, having a training and coaching process in place to set performance standards is vital to getting the greatest value out of your investment. Sales is an industry that depends on interpersonal interactions, and likewise, technology is solely the reinforcement of your management standards.

Secure Your Organization’s Financial Future

Your customers’ financial futures are not a free-for-all. It takes careful thought and planning, and so does growing your team’s potential. Implementing a sales tool and methodology can do just that, as organizations utilizing sales enablement tools that track engagement have cut their sales cycles by 18% (Aberdeen). So, set your financial organization up for a successful 2019 by investing in sales enablement and taking a more strategic approach to sales goal and revenue attainment.

Financial services professionals: learn how you can increase the performance of you bankers, agents, and producers with sales enablement.