Bank managers are often intimidated by the prospect of having to take on the added responsibility of sales management. Many feel overwhelmed by the seeming conflict between sales management and the traditional administrative functions of bank management. However, an analysis of the basic principles of sales management shows that this perceived incompatibility is largely illusory. Sales management, like other management fields, can be approached in a systematic manner and is easily integrated with other bank management functions once the basics of the sales process are fully appreciated. A nine-point approach to sales management is presented to illustrate this point. This structured approach involves delineating a specific vision, forming a mission statement, establishing action goals, inspecting programs initiated, demanding accountability, developing individual action plans, scheduling sales meetings, conducting sales rounds and praising good results.
It's a tough world for bank managers today. The industry has for several years been in a sales mode which requires them to be hands-on managers of sales and service [...]