Introduction

"Marketing tells a story that spreads, Sales overcomes the natural resistance to saying yes."
Seth Godin

In this statement, we can see the vital importance of a salesperson and a sales team in creating value in a company. Sales is one of the most critical roles in a bank, and like many banking jobs it is changing and evolving as banking goes digital. This module on Sales Management explains how the sales dynamic is changing because of technology advances and changing customer behaviour. It presents the modern sales landscape, where self-service and digital-driven approaches blend with the evolving roles of sales professionals and managers.

We discuss how banks can build sales teams using two distinct types of salespeople and how to hire the right people with the right characteristics. We also discuss the tools banks use to improve sales conversion rates, how to hire a sales team of the right sort of professional and how to train a sales team and motivate them to perform to the best of their abilities. We explain why it is important to motivate sales teams in a different way to other employees, and how that may be achieved through recognition and reward.

The module will explain how to structure a sales plan and set sales targets for sales teams in new or established banks, and how to reward those teams.