| EDITORIAL |
| Our New Millennium Newsletter and a Brand New Web
Site Will Make Sales Management Easier for You in 2000 |
| I'm pleased to announce that you'll now have instant
access to the ideas and experience we've gained in over twenty years
of sales management consulting to the financial services industry
as you prepare for the challenges of the next millennium. Between
the "hands on" sales tips you'll find in this first issue of our bimonthly
Practical Sales Management newsletter and the news, product updates,
and sales tips you'll find in our new web page (Http://www.SchneiderSales.com),
you can now access up to the minute information on sales 24 hours
a day, 7 days a week. In the coming weeks you can expect to see articles
by top sales leaders from throughout North America and exciting information
on a wide variety of new and improved products that we will be introducing
to help your company become a world class sales organization. This
first issue of our newsletter is loaded with the practical tips for
sales and sales management that will be typical of the publication
that we're trying to build. We hope you'll visit our web site often,
submit articles, success stories and questions for the newsletter,
and make Practical Sales Management available to others in your organization.
With the continued financial success of our clients (see "The Client's
Viewpoint" on page 6), our own rapid growth, and the expansion of
our services, the entire professional staff of Schneider Sales Management,
Inc. has the Feel of Success® as we approach the new millennium. |
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| Jim Schneider on Sales
Management |
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Why North America's Biggest Banks are Being Outsold
by Jim Schneider
With the help of acquisitions and a red hot economy, many of North
America's largest banks have posted excellent growth and earnings
over the past several years. Within these numbers are statistics
and anecdotal evidence that suggest a more disturbing trend: North
America's biggest banks are being outsold. In most major consumer
and business to business product categories, and particularly among
high value clients, the largest banks are losing market share to
nonbank competitors, and even to smaller banks. According to the
most recent ABA consumer study
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by the Gallup Organization, both purchase
of investments and insurance from banks and customer loyalty among
high value clients are declining.Despite the largest banking organizations
spending millions of dollars for sophisticated data warehouses, new
delivery channels and sales training, shopper and client satisfaction
studies by RSM McGladrey and other firms that monitor sales effectiveness
nationally demonstrate that sales effectiveness is improving at only
a handful of major banks. Why are the banks with the greatest resources
to invest in sales management achieving such a low return on their
investment? Simple. There's no FOCUS or ACCOUNTABILITY to their investment.
Focus and Accountability Begin at the Top
The breakdown in focus and accountability begins at the top where
the senior executives of the largest banking organizations make decisions
about sales far |
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Continued on
page 4
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| Table of Contents |
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Feature Articles
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Page
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How to Sustain an Effective Sales Culture .............................
Customer-Focused Coaching ............................................... |
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| Regular Columns |
Page
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Jim Schneider on Sales Management ....................................
What's Hot, What's Not .......................................................
The Client Viewpoint ............................................................
HR for Sales Managers .........................................................
Best Practices in Selling .........................................................
Sales Tips .............................................................................
The Sales Puzzler .................................................................. |
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