Driving Excellence In Retail Sales

Case Study

Driving Excellence In Retail Sales

Employee attitude is a critical priority in maintaining client engagement and service levels. Particularly when the business is under pressure, employees are not immune to transferring their feelings of anxiety and fear into the client interface, even if only at a subconscious level. Our work with our client addressed this vital aspect, helping the team cope with their emotions, and allowed the team to take control of their actions.
Problem Definition Solution Description Results
The Personal Banking Advisors at a large UAE based Bank were selling retail banking products based on customer enquiries leading to a non-uniform distribution of products. There were missed opportunities to up-sell / cross-sell products due to their inability to understand customer needs. The absence of a structured sales process meant an inconsistent product distribution, missed opportunity to cross-sell products and the inability of the branch network to meet the product portfolio/distribution targets. This further led to inconsistency in the customer experience across branches leading to low Customer Satisfaction levels (CSAT) & Net Promoter Scores (NPS).

To improve cross-sell, enhance branch product portfolio and achieve an increase in productivity of the Personal Banking Advisors, it was imperative to bring in a holistic customer focused sales process and standardise the same across branches to achieve the desired level of sales excellence.

Daksada held meetings with the General Manager, Head of Sales, Personal Banking Advisors and Sales Managers to understand their current way of working, expectations from the branch network and the factors considered while recommending and selling products to prospective customers. We supplemented the insights through direct observations across multiple locations, job shadowing, and through data collated to identify the typical customer profiles across each branch. 

We then developed a curated training programme that assisted the Personal Banking Advisors and Sales Managers to begin each engagement with a deep dive into the customers motivations and future goals before making recommendations from the extensive portfolio of products and moving to close the sale. The training material took into consideration the branch customer profiles and enquiries to be able to identify specific opportunities for up-selling and cross-selling. To make the programme self-sustaining, Sales Managers were trained on coaching skills, and were provided with training and facilitation skills through a train the trainer intervention. These then in turn delivered the curated training content to Personal Banking Advisors to ensure all within the team operated using the same process. They also delivered follow up and refresher training content as it was updated.

The impact of the structured sales training programme was felt immediately especially in the fact that there was a considerable improvement in branch product sales typified to the customer profile.

Customer satisfaction levels and NPS improved, because customers experienced the new customer based approach that required the Personal Banking Advisors to listen first and then provide customer centric solutions, improving service excellence levels. There was a marked increase in branch cross-sale ratio, and a corresponding rise in the throughput and productivity.

Project Details

  • MNC, Banking & Financial Service
  • Sales Excellence, Service Excellence; Learning Solutions
  • Anand VS
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