Regardless of what type of sales professionals a bank hires, it is fundamental that it has a well-structured sales training plan.

Even if you only have Eagles, if they are not trained properly, they will have a good chance of failing.

Induction Plan

A bank must have an Induction Plan that initiates new employees in the culture, values, and acceptable behaviour that is expected of them. This will include the importance of behaviour such as honesty and transparency when dealing with customers. There is nothing worse than the practice of mis-selling. This is when the bank or employee promises terms and conditions that will never be fulfilled, or features of a product and service that do not exist. When a salesperson mis-sells, they may only sell a few products, but it can result in the bank having to pay massive fines to regulators, reimburse customers, and suffer bad publicity.

Sales Training Plan

Besides training sales techniques and product and service knowledge, sales training must stress the right conduct of its salespeople.

Sales training is about the various processes involved in a sale, and the professional must clearly understand the steps of the sales process, the time involved, and the procedures required. As every bank has different processes and processing time and delivery, it is very important for the sales professional to have clear understanding that will avoid customers’ expectations not being met. 

The professional also needs to understand how to escalate issues, who to contact when they have concerns or problems, and the need to track how a sale is being fulfilled. This will solve 99 per cent of any potential problems.

The sales training plan must have different levels of training and be clear when training should be undertaken to develop and improve skills over time.