Archive for June 8th, 2008

Low-Hanging Fruit

Posted on June 8, 2008. Filed under: Uncategorized | Tags: bank sales training |

Yesterday I heard the term “low hanging fruit”, which I haven’t heard since my mortgage brokering days, when we operated Sterling Mortgage Group alongside Sterling Miller. It was a term the originators used for borrowers who called in for rates. You see, when a customer calls you, it means they have a need and are looking seriously for someone to provide the product to fit their need. Originators loved those calls, because at Sterling Mortgage, we had a system in place to insure those rate shoppers became our customers. After all, there were dozens of mortgage companies to choose from.

It occurred to me that bankers spend a lot of time and money trying to reach out to prospects to sell their products to, and probably don’t spend enough time figuring out how to turn rate shoppers, people who are reaching out to them, into customers. These prospects have already made the decision to buy and are looking for someone to but it from! Why shouldn’t you be the one to sell it? The answer is, you should. Banks and credit unions must take advantage of every selling opportunity that they encounter, especially the ones that come to them.

So, how to insure you get more of the business that’s looking for you? First, find out  (more…)