https://youtu.be/_P_xXet41jw
I really do miss the days of cross-selling. It was so much fun. Though, I never did sell any products, I did help the bank find ways to improve their cross sell numbers.
The good old days.
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Conservative for one is prudent for another. Their 401Ks probably didn't lose 20% in value and they didn't fall for the crypto fad.
I had to cross-sell at a branch next door to and surrounded by retirement living. Our clients were all on a fixed income and had very conservative ideas about investing. It was impossible to make bonus.
Interesting that you brought up race. I never saw in our CRM system Any menu item about a client’s race.
Agree that we may have asked a lot of unqualified employees to pretend to be sales people.
I do recall the days of cross-selling. In fact, cross-selling was as easy as cleaning up KYC data without even selling a client a product.
I wonder how many other institutions have messy client records?
Serious question on the black home ownership scandal: someone said our algorithm is racist. What if there was an investigation done and it was found that the algorithm to approve had didn’t account for race at all? Couldn’t that exonerate us?
Honestly, if you actually knew what you were doing and knew anything about sales (aka, you knew how to ask questions and then make recommendations), the goals weren’t that outrageous.
The problem was in the training. Employees didn’t really know how to sell at all, and were very unskilled employees in general (we hired a lot of people from fast food etc). So expecting someone with that professional background to hit any type of goal at all would be unrealistic without properly training them.
Also, simply not everyone is cut out for a sales job. There’s nothing more stressful than a job that’s sales and you aren’t meeting numbers. On the other hand, a sales job where you’re easily meeting numbers can be very rewarding and low stress.
The main problem with the sales incentive program was rewarding employees for opening a second checking account or second savings account for a customer. That was absolutely worthless activity and where most of the gaming/bad behavior took place.