How to sell a banking product
Video: Secret of Success for Finance, Insurance, Banking, Sales & Mutual Funds Sector - By Amol Mourya 2024, July
Banking products are books of accounts, written agreements, contracts, bonds. They are used to help people and companies find solutions to financial problems. The Bank acts as a financial intermediary in the process of exchanging a product for its payment. You should find out how best to present the products to your customers.
You will need
- - Banking product;
- - financial survey of consumers.
Instruction manual
1
Explore as much product information as possible. It is important to know which ones you have available, their limitations (both legal and financial) and their main features. Develop your approach to the features of each product offer of the bank in order to choose the most suitable type of client for it.
2
Organize a customer survey to identify their needs. Look at their solvency. Ask how long they are going to use this product, and what benefits they hope to derive from it. Find out what risks customers are willing to take. Are they ready for revenue growth at a possible risk, or is transaction reliability more important to them?
3
Match customer needs with suitable banking products. Any bank pursues both personal interests and the interests of the client side. Focus on the benefits of certain groups of goods, securities and debt obligations for various consumers. For example, a senior citizen will be more interested in a fixed return on a product than in a proposal with a complex and variable profit calculation.
4
Provide customers with at least two different banking product options. Show the difference between cash flows in terms of down payments or investments and return with income. Explain the timing of the product, and then let the customer ask questions.
5
Recommend the final product to the customer at your discretion and explain the steps that must be completed to purchase, as well as the amount of time it will take to complete the transaction. Make sure your product or service is sold properly. Contact your lawyer to certify the documents for the sale of the banking product and send a copy to the buyer.
