In today’s marketplace, companies across the country have to face a new reality: no one wants to be sold. Recent shifts in the economy have resulted in increased consumer uncertainty and skepticism – especially as it relates to feelings and perceptions about financial institutions. Still, like any business, financial institutions must find ways to sell their products and services and not stray from their core competencies.
Later this afternoon, Joe Sullivan will be delivering a presentation titled, “Know Your Customers, Know Your Market,” to a group of bankers at the Tennessee Bankers Association Credit Conference. The presentation explores the challenges associated with sales, and emphasizes two important but often-overlooked first-steps in the sales process: know your customers and know your market.
These two steps allow you to identify attractive (and unattractive) and profitable target market segments; understand their financial needs, values and preferences; and take steps to ensure that your product offerings, marketing, and sales process are aligned with those needs.
Here are Joe’s slides for the presentation. Check it out. If you want to know more about the presentation, or have questions about any part of it, let us know.