Mercuri Product Portfolio - Finance Sector

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If you are in finance, Mercuri can increase your returns.

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Mercuri Product Portfolio - Finance Sector

  1. 1. Winning, keeping and growing customersHow financial businesses can benefit from using MercuriInternational Overview Our financial sector clients choose Mercuri win clients International to help them win, grow and keep clients. In the financial sector we are Mercuri able to demonstrate a strong track record of International equips financial grow clients RoI in a rapidly changing world where businesses, their organic growth is crucial but selling has to be leaders and their people to… done in a way that fits with regulation and enhances reputation. By working with keep clients Mercuri International you can be confident of balancing both opportunity and risk management. What to use Mercuri for Who uses Mercuri? Our focus is clear: Corporate and commercial banks “winning, growing and keeping clients” Retail banks In practice that means Wealth management • Relationship management Insurance – Life & non-Life • Selling Investment • Sales Management Private Equity • Strategic Account Management Asset backed lending • Negotiating Professional Services • Presentation/pitching skills • Customer service Direct and intermediated distribution • Managing internal relationships • Sales campaigns e.g. product launch/re- Sales leaders launch, sector campaigns Relationship management • How good selling avoids mis-selling and Business Development manages risk Customer Service • Bespoke programmes More about Mercuri International A quick insight into Mercuri in the changing world of sales http://www.mercuri.net/content/mercuri-international-corporate-presentation An overview of Mercuri International in the sector http://www.slideshare.net/richardhigham/mercuri-international-in-the-financial-sector A short video showing our sector view and why our clients use us https://vimeo.com/43178969 www.mercuri.net
  2. 2. How we work We use a blended approach to developing customer-facing people. This is both more effective and more efficient than more narrow traditional methods and has been made possible by advances in technology which have been leveraged by our dedicated Mercuri team. This blended approach is based around our strong five step methodology. Our track record The Financial & Professional Services Sector is one of four focus sectors for Mercuri International Each year Mercuri International works with 240,000 participants in 18,000 workshops for 15,000 companies. This includes working with 50% of the world’s top 50 financial institutions over the past 10 years. Participants rate us highly. E.g. 99% of 350 corporate bankers would recommend the Mercuri “Relationship-based Negotiating” programme to a colleague. Overall rating 4.84/5. They change their opinions when they learn with us: e.g. 24% improvement in confidence over 6 months. They change the way they work when they learn with us: e.g. double the number of new business presentations made in the 6 months following a Compelling Selling programme The results improve when they work with us: e.g. 41 pensions consultants generated £1.92Mn of incremental business in the 3 months following a “Professional Selling” programme “Provides outstanding service, and a proven track record for delivering superior sales training and improving the impact of the sales organization.” “We believe that Mercuri is an excellent choice for a strategic, long-term partner to help an organization evolve its selling strategy.”If you are considering any project to improve the way you win, grow or keeps customers thenMercuri International is an obvious provider to speak with – high impact, high quality, highreputation.Contact at Mercuri International :Global Practice Leader Richard Higham Tel: + 44 7712 588757 Email: richard-higham@mercuri.co.uk
  3. 3. Winning, growing and keeping profitable relationshipsRelationship ManagementBackgroundAt a time when product-pushing, the “hard sell”, and mis-selling are in the news, professional relationship managementhas never been more important. As Jean-Laurent Bonnafé, CEO, of BNP speaking to the Financial Times about hisglobal strategy puts it, he wants to be remembered for “client satisfaction: The winning banks are those that canachieve confidence and trust.” Antonio Horta-Osario formerly of Santander, now CEO of Lloyds Banking Group said ina speech before the Confederation of British Industry in September 2012: “Issue-by-issue and scandal-by-scandal thefaith and trust in our industry has been eroded. “Why? Because I believe that many banks lost sight of their core valuesand became complacent, non-customer-focused and inefficient.”Mercuri International’s Relationship Management programmes can help you develop your RMs to build trust, managerisk and at the same time generate sustainable growth that enhance both the bottom line and your business’ reputation.Topline summary Practicalities The programmes have been used successfully  There are several ways Mercuri can help you developacross the sector; from professional services, through your Relationship Managers using our 5 step process.banking to insurance and investments. They can beused for dealing directly with the client or with and  They range from short sessions at a conference or a sales meeting , through a one-day workshop forthrough intermediaries. The size of relationship may graduates to a full 3+2 day blended programme withvary from a complex global corporate through an SME pre-work and an implementation toolkit.to an individual client. There are cross-overs with a number of other  We will work with you to find the best approach balancing commercial effectiveness with operationalMercuri programmes such as Key Account efficiency.Management and cross-selling. At the heart of the programmes are skills such as: Some responses Selecting the right relationships to focus on, “Our challenge was to raise the bar of both our newest Relationship planning, and most seasoned relationship managers. Mercuri International invested time to tailor and expertly deliver a Building a trust-based relationship, course for our unique needs and context. It not only pushed the limits of our most experienced/ cynical Understanding the client, managers, but continues to deliver top and bottom line Forming, prioritising and proposing the right benefit to the business.” solutions in the right way, Head of private banking for corporate client executives Handling difficult situations (internal and external) “Mercuri facilitated a 2 day client scenario that allowed us and gaining incremental commitment. to understand in-depth the individual abilities of our Relationship Managers, across a broad range of skills, Acting as the prime point of contact and leading knowledge and behaviours. The course learnings have virtual teams of product partners and other driven a new training and development focus and a specialists revised product deployment approach. Both will provide Managing the relationship through its different positive outcomes for our people and our clients.” MDphases. share dealing services “Mercuri International have worked with us to design andSome results deliver a range of training courses supporting our Relationship Managers and Directors. Mercuri understands our desire to be recognised as a top"When I was a pensions consultant working in one relationship-focussed bank and have the right approachof our branches I went on a Mercuri International and experience to develop our people” Global Sectorcourse on relationship management. The live case Head Corporate Bankingstudy I focused on was an intermediary which wasthen generating ~£1m a year. I applied what Ilearned on that course and (with a lot of hard work)we saw the £1m a year grow into £24m a year overthe next 3 years. I have no doubt that the Mercuricourse was instrumental in helping me achieve this”Head of Specialist Sales
  4. 4. Blended learning: workshop and on-lineSales Management: lifting sales performanceBackgroundLeading a sales team in the financial sector is neither simple or easy. As well as the challenges faced by sales leadersin other sectors there are issues of risk, exposure, capital utilisation and regulation to face. Then there is the relentlesspressure on time!Mercuri International have been developing sales managers around the world for about 50 years. The financial sectorteam have applied this broad-based expertise to the specific needs of sales leadership in the financial sector. Thisblended programme is centred on a two day workshop but uses a range of innovative approaches to enhance bothefficiency and effectiveness.Topline summary PracticalitiesBefore the training participants view a compelling The workshop is usually run over 2 days.video from a business leader, identify their current Participants receive their on-line pre work 1-2 weekslevels of expertise, identify areas for growth and gain before the workshop.a quick overview of the programme. They then receive the on-line post-work modules at theThe two day workshop is highly participative and rate of one a wee for a month following the workshop.focuses on motivating and equipping managers to Each module involves approximately one hour of work.change the way they lead their sales teams. A range of implementation support tools can be made Turning the business plan into the sales result by available. managing activity and competence. Using three The programme can be adapted for major corporate mid- levers to deliver the result. market, SME and retail situations. Motivation – encouraging “the willingness toperform” Improving sales performance – getting the best Some responses from top performers, “the mighty middle” and under- performers. “The Mercuri trainer really understood our business” One-to-ones. More than a chat less tan an “It’s amazing what we can still learn”appraisal “There is much that we think we know but need to remember to do!” Joint visits /co-listening– the most powerful tools “Immediately applicable back into the business” available to the sales leader?. European Wealth Management Sales Leadership Team Sales team meetings – how to make them “Your trainer delivered a great course, quickly winning the productive and valued respect and trust of the sales leaders in the room creating Implementation – participants practice and critique an environment where they were challenged and able to apply the learning. I received feedback from the the way they will communicate one key element of participants after the training saying it was some of the their action plan to their sales team. best training they had ever received and it had been a Following the workshop participants receive weekly great investment of their time..” Academy Head Corporate on-line follow up helping them implement and Bank deepen one element of the programme a week “The whole workshop makes us realise that there are always areas to improve. We think we know these things but we now realise we are not mastering theseSome results ideas. This is really helpful and makes us want to improve.”“Mercuri International has made a significant Team Leader Institutional Bankingcontribution to our sales management, our salesskills and our sales processes. Their innovation,industry understanding and delivery have helped usbuild the sales culture across the wide range ofbusinesses that make up the bank”Head of Corporate Sales Top 20 global bank
  5. 5. A blended and innovative online learning programmeProfessional SellingOverviewThis programme allows professionals to build their client facing skills, working in their own time over a thirteenweek period. The online learning takes about an hour a week and is supported by coaching sessions.The materials have been developed specifically for the needs of client facing people in the financial andprofessional services sector.The programme make use of innovative learning technologies to combine maximum effectiveness with minimumoperational impact.Topline summary Practicalities Each weekly module contains a fifteen minuteThe programme animated Rapid Learning with the key points of the subject.Opening coaching session1. Introduction and opening self-analysis There is a Mercuri Essential – a downloadable summary2. Plan for growth – identifying which clients and solutions will deliver the result There are further resources including articles, “Skill3. Make hard choices - picking the right clients & Sharpeners”, Podcasts and practical sales tools opportunities Each week there are questions and exercises to4. Compelling selling – finding the issues to make confirm progress. your selling compellingSecond coaching session The coaching sessions provide an opportunity to support the learning and to answer questions on5. Approach tactics applying the ideas.6. Planning and preparation to increase efficiency and effectiveness When Professional Selling is used by a number of7. Engaging with the client - building trust fast people from the firm it can be followed by workshops such as Raising the Bar8. Understanding the client - getting to the heart of clients’ issues Participants have said:9. Building and communicating relevant solutionsThird coaching session “The content is very relevant for my role as I need to build my business development skills” Accountancy10. Managing a pipeline Manager11. Resolving concerns and gaining commitment12. Growing the relationship “It’s been good to be able to fit the learning in without13. Making it all happen losing billable hours and valuable client time”Final coaching session Client Director – Employee Benefits Consultancy “The programme has given me practical tips and toolsTo access Professional Selling for yourself and that I have been able to put to use immediately with mysee examples of the different materials click clients” Corporate Bank Relationship Managerhere:PROFESSIONAL SELLING “Professional and effective – the look and feel are just what we hoped for”Or cut and paste this link into your browser: Business Academy Lead Commercial Bankinghttp://mercuri.lms.epistema.com/data/modules/crossknowledge/interfaces/session_autoregister.php?session_id=47602&guid=9E74404C-25B2-E440-ED4C-8919EB720206&group_id=675 ”
  6. 6. A dynamic , challenging and motivating 1 day eventProfessional Selling: Kick-off EventOverviewThe financial and professional services sector is going through dramatic changes: market volatility; geo-politicaland macro-economic shifts; regulatory pressures; client and consumer perceptions.Against this background there is a need for and expectation of growth in economic profit and market share. Thisneeds to be achieved in line with a rightly increased focus on risk and treating customers fairly.Mercuri International continue to believe that well conceived and executed professional selling complements goodrisk management. This session sets out to stimulate and challenge sales teams and their leaders to bring togetherthe ethical and the entrepreneurial ; profitability and professionalism.Topline summary Practicalities The day The day is led by Richard Higham – Global Practice Leader – Financial & Professional Services. He will be The morning is based around a very focussed case study Finworld. Faced with changing market supported by another member of the Mercuri sector team. conditions the group has to predict the success and The day can be used with different sizes of audience; from plan the KPIs of a team of five sales professionals. a dedicated team to a complete sales-force. As they work through the case, they are challenged with a range of issues: It is possible to break this material up for shorter sessions 1. What’s happening in the market? e.g. at a conference or sales meeting. 2. The what and why of sales strategy  To see and hear Richard speak, view one of these 3. The right size and shape of the sales result videos: : https://vimeo.com/43178969 or 4. Selling activity – the keys to success • Quantity https://vimeo.com/43173641 • Direction Participants have said: • Quality “A really strong session delivered by someone who 5. Competence – the ability to do clearly knows what he’s talking about” National Sales Director, Asset Finance • Knowledge • Skills “Richard is an engaging speaker who delivered on brief • Attitude for our audiences…He has the gift of making … an In the afternoon we work on a range of topics that can intense session clear and enjoyable.” Programme be adapted to the needs of the group. These topics Director, Postgraduate International Selling Programme can include: What makes a rainmaker? “Very articulate and yet extremely pragmatic” Director What does it mean to be a trusted advisor? Strategic Insights Programme, international insurance The effective relationship manager The mind of the buyer and the mind of the seller Team selling Differentiated Selling Introduction and overview of Professional Selling
  7. 7. Face-to- face workshopApplied Best PracticeBuilding effective ways to win and grow businessBackgroundWhen selling skills are supposed to be in place but just don’t seem to be have the effect they should, then Applied BestPractice may well be the way to solve the problem.Applied Best Practice focuses sales teams on specific sales situations. It starts with what current good practice lookslike and challenges people to ensure they are at least at this level and then to reach for the next level.The programme is very interactive and relevant. It leaves no room for complacency and makes use of managers ascoaches to maximize implementation.Topline summary PracticalitiesBefore the training we work with selected individuals The programme is normally run over 3 days and followsto agree a good baseline and shoot a short video of the same pattern through the stages of the sales process.the key stages of the sales process. The video shows Introduction to topic“OK plus” behaviours which would not cause realproblems but which could be improved on.. The View video scene e.g. “Engage with the client” or “Addressprogramme works through the four key stages of the concerns”.sale: Compare good and great and agree possible improvements. Engage with the client – build rapport, get themeeting off to a good start, position oneself/the Trainer input on key concepts.offer/the firm. Practice in small groups with video. Understand the client and qualify their requirements Immediate feedback in small groups on video from coaches. Form and propose a relevant solution Plenary session to agree further improvements. Address concerns and objections and gaincommitment Practice and review again to embed improvement. Plenary session on agreed commitment to makeAt the end of the workshop individuals confirm their improvements.action plans;The best ways of working (e.g. positioning Participants and leaders have said:statements, question banks, proofs, objection banks) “My very first appointment following the Applied Bestare agreed and documented. Practice course … went unbelievably well. I used severalCoaches and participants agree implementation. of the techniques we had worked on and the FD really opened up. At the end the FD said he would recommend us to the board …The proposal was subsequentlySome results approved.” Commercial Bank Relationship ManagerApplied Best Practice has proven itself in a range of “”I learned more about my people and what they actuallyfinancial settings including: say and do in front of customers than I would ever have expected”Commercial BankingAsset Finance Regional Director Cash ManagementFleet Solutions “We did more business with this offering in the quarterTrade Finance following the training than we did in the previous threeFinancial Institutions quarters combined. Part of this was because theStructured Finance marketing campaign came good but a lot of the success was down to the Mercuri training.”PensionsPrivate Banking Corporate Marketing ManagerInsurance
  8. 8. 3 + 2 day workshopCompelling SellingClassic sales training with a modern edgeBackgroundCompelling Selling takes the proven principles of consultative selling techniques and applies them to the specific needsof winning and growing clients in the financial and professional services sector.While the workshop can be used on a stand-alone basis it works best when combined with tools from theimplementation toolkit.Topline summary PracticalitiesBefore the training we work with the business to agree The programme is normally run over 3 + 2 days with athe key issues that need to be addressed using gap of 4-8 weeks between parts.Mercuri analysis tools where appropriate. Normal group size is 12 with one facilitator.The focus of this programme is on professional selling Before the workshop we should co-author scenarios toand can be applied to either transactional or use in the various practice sessions / role plays.relationship selling. Requires a large room to allow for practice sessions in• "Where Is This Going?" small groups or a main room with syndicate rooms.The context for financial selling in a challenging Can use video where appropriate.market. Coaching guides available for filed observation.The need to identify and leverage “compelling events”• The seller as trusted advisorHow RMs add value and bring the whole organisation Participants and leaders have said:to work effectively for the client.• Selecting the right clients and opportunities “Excellent programme, well structured, phased build-up of• Techniques for making the approach body of knowledge to allow for easy assimilation.”• Engaging with the Client Relationship Manager Business Banking• Building and maintaining rapport, accelerating trust• The detectives: Understanding the client: and their “I must admit I was sceptical about this training but I really compelling issues learned a lot. It confirmed a number of points but challenged me in areas where I had either become• The offer they cant refuse forming and complacent or had never acquired the underlying skills. It communicating the offer was productive but also highly enjoyable”• Resolution: Objections, Pricing, Inertia and delay Corporate Pensions Specialist• Gaining Commitment• Relationship planning and activity management “Mercuri International have worked with us to design and deliver a challenging and innovative learning and development programme to support our Relationship Managers and Directors. Mercuri understands our desire to be recognised as the No1 Relationship focussed BankSome results and have the right approach and experience to develop our people” . Director Major Corporates41 senior corporate pensions consultants involvedin a Compelling Selling programme (combined with “The programme helped the team realise they did nottele-mentoring) generated €2.6Million of “know it all” and that there were new skills to be gained and old skills to sharpen. We’ve seen a real difference inincremental business attributed directly to the the way they work with their intermediaries.”training (analysis by client’s own actuaries) National Sales Director Life & PensionsThis generated cost cover out of extra incomewithin 12 weeksIt generated more than 4:1 payback within thefinancial year.
  9. 9. 2 ½ day high intensity simulationRaising the Bar:Taking client-facing skills to the next levelBackgroundOne of the best ways to develop powerful effective selling skills is to put them to the test and then find ways to takethem up a level. Mercuri International’s Raising the Bar workshops have helped professionals from across the financial& professional services sector do just that. Instead of starting with theory and moving to application, Raising the Bar isall about learning by doing. Small teams compete to win business from a simulated client over series of meetings fromfirst exploratory contact, through getting to the real issues, putting forward a solution and handling concerns andchallenges to gain commitment. The scenarios are specially designed for you. A high-energy, enjoyable andstimulating way to lift the business result.Topline summary PracticalitiesCan be a stand alone event or as a final event for Options to run this programme either as a 2 ½ daythe Professional Selling programme. session for groups of 12 with 2 facilitators to provide detailed feedback or as an even more intensive 1 ¼ day Pre-workshop contact and content to set the scene session with a larger Mercuri team.. This option Opening briefing for teams to introduce the scenario increases investment but reduces lost opportunity cost and operational impact. Teams carry out meeting one – initial contact A library of proven Mercuri scenarios already exists.Debrief and agree learning points These can provide a starting point for your specific Teams carry out meeting two - understand , situation. The relevance and credibility of the scenario is quantify and qualify the clients requirements all important and should be co-developed. Debrief and agree learning points Teams should work on live sales issues during the programme. Between meetings teams work on live sales issues Where possible your own sales leaders support the Build relationship and prepare for meeting three coaching. Teams carry out meeting three – communicate theoffer Participants and leaders have said: Debrief and agree learning points “The knowledge of top relationships has increased radically. We’ve never known them better than we do Teams carry out meeting four – handle objections now.” Taxation Partner and Relationship Leader and gain commitment “Delivered and executed to a very high standard. HighFinal presentations and winners announced pressure but a lot of fun, with lots to take away & apply”. Head of SME BankingAgree individual and group actions “A great two days of learning. I dont think that I have ever learnt more on a previous course and all can be used straight away.” RM Large Corporate BankingSome results “This is a course that will produce better performance quickly, allow individuals to recognise performance 102% year on year income growth for 12 teams improvements, sharpen & improve good performance & compared to 25% for a control group build on team-work to achieve results.” Director Asset- Took a targeted relationship from <£1mn to Backed Lending >£30mn p.a. over a three year period “Categorically the best training we’ve ever done. My people are still talking about it and using it. I learned a Won the first piece of business immediately huge amount about my people and we’ve seen realfollowing attendance on Raising the Bar improvement” MD Private Equity A project commissioned by a private equity house generated an incremental $1.67Million of gross profit in the first 30 days and “our best quarter in seven years”.
  10. 10. 2 day workshopRelationship-based financial negotiatingBackgroundThis programme has been run extremely successfully for over 400 Relationship Managers, Directors andsalespeople across the sector from corporate banking, through real estate to investment sales and riskmanagement.It is a highly interactive programme with three major negotiation practice sessions. One is a generic scenario butthe two main sessions use scenarios created specifically for the audience and reflect current business issues e.g.margin, exposure, ancillary business, ratios.Topline summary PracticalitiesBefore attending the workshop, participants select This programme has normally been run over 2 days forfrom a range of pre-work – articles, podcasts etc. and groups of 12 with 2 facilitators to provide detailedcomplete a negotiating questionnaire feedback. Kick-off negotiating session “Ambrosia & Uturpia” It has also been run for larger groups with extra observers (Mercuri or client). It can be run in 1 and 3 Introduction and personal objectives from day formats and integrated with other input e.g. legalquestionnaire or financial. The Relationship-based Negotiating Model A library of proven negotiating scenarios already Understand your relationship goals exists. This provides a good starting point for creating business – specific scenarios. Assess the situation and create context The training requires a main room and segregated Plan your offer breakout rooms/areas for the negotiations. Manoeuvre and bargain Participants have said: 2 Practice sessions using business-specificscenarios “My preparation is much more geared to negotiation. I listen more in meetings giving time for the client to Move forward express themselves. I look for positive outcomes rather Make it happen – action planning than just brick-walling with barriers.” Bank Relationship Manager “I better understand the power in negotiations andSome results appreciate the customer objectives better than previously. Additionally I approach negotiations with several options 99% of all participants would recommend to a where possible as opposed to one.” Real Estate Finance colleague Specialist 95% described content as highly relevant or “I am now more confident and not afraid to challenge and relevant negotiate. I’m more comfortable explaining reasons why the Bank may insist upon certain conditions or rates etc.” The 18% who said they were not confident Corporate Bank Relationship Director negotiating on behalf of their firm dropped to 3% three months after the training. And their leaders have said Before the training over 70% said they found it “I am really delighted with the response to this difficult to read the other side’s ploys. This programme. Without doubt it is the most appropriate and dropped to under 30% effective programme we have delivered” Strategy Director Over 100 examples of positive changes in “Excellent!” Head of Professional Services Sector behaviour after 3 months Over 50 examples of RoI after 3 months e.g. ” >£1m reduced exposure >2% margin improvement Refinance and increase income by £132k
  11. 11. Equipping teams for product and market campaignsIMPACT projectsBackgroundOver the years we often heard from clients who had tried a product launch or a market campaign which had notworked. Frustrated and concerned, they now wanted us to do some training to put things right. We always respondedbut realised that our clients were missing opportunities, wasting resources and increasing risk through this approach.So we decided to take the initiative. IMPACT projects help you get off on the right foot and achieve the optimum resultfrom the very start. They focus on the application of existing skills to a specific market challenge. They are notconcerned so much with a particular sales theory but more on how well your people are using it. Everything is aboutreal-world activity to make the most of the opportunities.Topline summary Practicalities Before the training we work with a small team The workshop is usually run over 2 days. including sales management, marketing and We prepare a workroom with product information, experienced sellers to identify the way things are branding material etc. (for example for a medical company been done today, likely barriers to success and we created a side ward with the high-tech bed they were what “good” looks like. We record examples of selling while for a trade finance project we had visuals steps in the sales process. from their target markets) Over a two day period (with evening session) Video/audio recording can be used as required. teams work together on refining and improving the After the workshop the draft playbook is quickly edited and way they will work on the campaign. distributed. A range of implementation support tools can This could include interactive sessions on profiling be made available. and approaching target prospects or highly interactive product knowledge sessions using games etc. Some responses Through Day 1 the participants are developing “ The people who were going to be involved in selling the and personalising the tools they will use e.g. SME offering were either nervous, complacent or naïve. positioning statements, question banks, proofs, They knew this campaign was coming but they weren’t objection banks. ready for it. The IMPACT Project was a real wake up call.” In the evening there is some engaging, fun SME Programme Leader: Pensions Consultancy learning e.g. product quiz, panel of experts etc. Overnight the Mercuri team gather and edit the “It’s so much better being involved all the time instead of work done on day 1 and convert it into a draft just sitting there while a product manager talks at you. I sales playbook. learned a lot by just getting on with it and then being challenged on how I could improve.” Commercial Bank Day 2 is spent practising and refining key aspects Relationship Manager of the sales process to give people confidence to apply this immediately in the market-place. This “High energy and really practical. It gave me confidence ends with planning clear actions for the coming to get out there and win business from the start.” days and weeks Business Banking Business Development Manager “It was great. I was able to solve real world problems that ISome results knew I’d face with my partners. It paid off in the very first negotiation with them.” Pensions Consultants introducing a new offering Bancassurance Protection Consultant / Channel Managerfor SMEs. Product knowledge up by 60%; numberof actual sales visits up 100% over quarter followingproject. Commercial banking introducing a newrelationship management package: Won morecases in the quarter following the project than in thethree quarters preceding it.
  12. 12. Blended programmeConvince and influence with your sales presentationBackgroundThe seller of the 21st century has to be a charismatic technophile: charismatic so as to influence your customers, whichmeans being able to change their opinion when required; a technophile because technology strengthens the power ofinfluence, provided you use it properly and know when and where not to use it.It is the combination of charisma and judicious use of digital and multimedia tools that endows the seller with thestrength to convince and influence.This learning path will develop these two closely-linked dimensions for the participants.This course consists of nine online modules, a face-to-face seminar, and tests before and after.Online modules Two day workshopOnline modules: 15 to 30 minutes each with support The levers of influence: form and substance, rules of thematerials The modules will involve a time commitment communication and prerequisitesequal to one working day • The SARA structure1. Why the vast majority of sales presentations are • ERD levers: Eloquence, Relevance & Decisions boring - Eloquence: develop energy, tone, rhythm,2. The difference between face-to-face presentations verbal and body language and written proposals - Relevance: demonstrate the interest for the3. How to structure a presentation customer4. How to link the presentation to the sales situation - Demanding: influencing a decision in our favour5. How to improve the visual impact of a presentation Combine persuasive techniques by using the computer6. Presentation design and PowerPoint properly:7. Visuals and PSE : Picture superior effect • The seller IS the presentation, not PowerPoint8. How to lead meetings • How to strengthen impact and avoid “Death by9. Written proposals PowerPoint“ • How and why to “give up" all the words on the slides that the customer won’t read • How to handle a meeting without using PowerPoint as a "prompter“ • When to turn off the computer (“Black") and why, and the resulting gain in impact • How, why and when to switch between digital and analog Leaders have said: “I’ve been positively surprised by how this has changed the team’s presentations for the better…and one other thing - they enjoyed themselves!” Sector Head: Financial InstitutionsParticipants have said:“I found the programme challenging and sometimesuncomfortable but the impact on my presenting has beenradical.” Senior consultant: Professional Services
  13. 13. Achieving client growth through cross-sellingCross SellingBackgroundFor many financial businesses cross-selling has been seen as the best way of increasing the value and stability ofcustomer relationships. When it works well it can achieve both these things but all too often it leads to product pushingand even mis-selling. The client does not always see why it is to his advantage to take multiply products ant there aresignificant barriers to success. The main six are: (1) Negative or neutral recognition and reward systems (2) Lack oftrust between individuals and departments (3) poor product knowledge and knowledge management (4) Undevelopedcross-selling processes (5) Undeveloped cross-selling skills (6) Undeveloped sales management of cross selling.Mercuri International’s approach to cross selling in the financial & professional services sector can help you managerisk and reputation while building relationships and profit.Topline summary Practicalities Mercuri International’s expertise in helping you  There are a number of different ways Mercuri can help address cross-selling issues can be applied in you improving your cross-selling. using our 5 step several different ways from consultancy through process. awareness sessions to skills training.  They can range from consultancy and project Sometimes this can be as a stand-alone cross workshops through short sessions at a conference or a selling project. At other times the cross-selling sales meeting , to blended programmes combining agenda is woven into a more general sales, face-to-face sessions with on-line work. relationship management or sales leadership programme.  We will work with you to find the best approach balancing commercial effectiveness with operational This expertise has been used by professional efficiency. service firms, banks, insurers and risk managers. It Some responses can be applied in B2B, B2C and B2B2C settings. There are cross-overs with a number of other “The workshop made us think. We were challenged and it Mercuri programmes such as Key Account was not always comfortable but the day produced not only Management, Relationship Management. And the a changed mind-set but really practical tools that began to range of selling programmes. be used immediately." Head of private banking for corporate client executives Consultancy could involve improving the effectiveness and efficiency of knowledge “Mercuri facilitated a 2 day client scenario that allowed us management or the development of cross-selling to understand in-depth the individual abilities of our processes to bring product expert in at the right Relationship Managers, across a broad range of skills, point in the buying cycle.. knowledge and behaviours. The course learnings have driven a new training and development focus and a Awareness sessions might be a question of revised product deployment approach. Both will provide designing and facilitating cross-silo “product fairs” or positive outcomes for our people and our clients.” MD launch events. share dealing services Training cross-selling could be simulation based “Mercuri International have worked with us to design and using generalist relationship managers alongside deliver a range of training courses supporting our product specialists or could be based on skills Relationship Managers and Directors. Mercuri development e.g. managing referrals. understands our desire to be recognised as a top relationship-focussed bank and have the right approachSome results and experience to develop our people” Global Sector Head Corporate BankingFour bank teams involved in shipping (ship finance,ship broking, hull insurance and cargo insurance)identified 23 previously unseen cross-sellingopportunities on the day. 9 of these were convertedover 6 months.Bank owned lessor saw 25% volume growth afterchanges to reward systems and process.
  14. 14. Getting to grips with key account managementKey Account Management Strategy WorkshopBackgroundWhat proportion of your income comes from your key or strategic accounts? 25%? 50% ? Even higher? A Mercurisurvey of 84 financial businesses showed an average of 49% of income coming from the top 10% of customers. Theprizes are great but KAM programmes carry significant risk; with money, time and reputation all being put on the line.KAM programmes impact on the whole business not just the sales function. So it is important that the business as awhole understands and agrees on the issues and implications of working with strategically significant relationships.Topline summary PracticalitiesThe workshop brings together senior leaders from a The workshop is usually run in one day.range of disciplines – distribution, origination, It has worked well with between 6 and 15 participants.operations, risk, finance, compliance., productpartners. Participants receive a “Fit for KAM?” questionnaire to complete before coming to the workshop.The morning focuses on gaining a common The workshop can be run on or off site.understanding of what KAM means in practice It can be used for both direct client situations and when “What’s at stake?” - the risks and opportunities of a working through distribution..KAM programme.Trends and themes in today’s strategic accountmanagement“What does good KAM look like?” – The MercuriInternational / University of St Gallen survey of 560European businesses. The Mercuri/St. Gallen KAMThe components of effective strategic account modelmanagement:Critical success factors – hard-earned lessons fromexperienceFeedback from “Fit For KAM” questionnairecompleted before attending the workshop..The afternoon concentrates on one selected area toget a concrete outcome on the day e.g. Selection criteria and segmentation The structure of virtual account teams and their roles Account planning MeasurementSome results“Working with Mercuri International specifically onscoping out a key account management processand redefining our structure has proved invaluablein propelling our business model forward in terms ofincreased sales productivity. The projects havehad a measurable impact on the business result”Head of Sales European Financial Institution
  15. 15. Getting to grips with key account managementKAM Development ToolkitOverviewManaging strategically significant relationships is both demanding and fulfilling for the individual and of criticalimportance to the business. Both opportunity and risk are high. For example, a Mercuri team has been working with aleading global player to help them take their income from their global accounts from $800mn to $1.8Bn. While not allscenarios are on this scale, the stakes for key account managers are always high! The role is a complex one, requiringa portfolio of skills which few salespeople, relationship managers or technical specialists will have been able to acquirein their careers to date. We have developed a number of approaches to help equip those who lead or aspire to leadthese major relationships. Because each situation requires a different approach this sheet shows examples of wayswe have approached the challenge of strategic account management. Everything we do in this field is based on a verystrong research-based model co-developed by Mercuri International and the University of St. Gallen.Examples • Key account manager training:. We have a • Key account simulation: In this highly interactive very strong range of modules for developing simulation account leaders have to create an strategic account managers. The modules cover account plan for a complex, multi divisional account the 5 dimensions of key account management – operating in multiple geographies. They then need strategies, solutions, people, managing, measuring. They are designed to equip those to execute the plan over several years to achieve managing major relationships with skills, the desired business result. This has proved a very techniques and tools to “understand and analyse” stimulating and highly time-efficient way of working. and then to “plan and realise”. Working with the A professional services firm used the simulation to national accounts team of a major pensions build analytical thinking and provoke its GAMs to provider we ensured there was a common stretch themselves. understanding of KAM across the restructured team and that the critical tools were in place and in • Coaching on live account plans: This can be use. done with individuals, with small groups of account • Key account management tools Some of our managers or with core account teams. The focus is clients have some tools they need in place, but on a live account. The process starts with analysis few have all they need to achieve maximum of the current situation and identifies current or effectiveness. We work with the client team to potential problems and opportunities. Over an review and refine existing tools and where agree period the coach helps the team make the appropriate to provide and adapt tools from the required changes to improve the result. We worked Mercuri KAM toolkit. Tools include: with 4 account teams in a leading actuarial • Selection criteria consultancy to develop new ways of working with • Stability indicators go/no-go analysis their clients – a global energy company, a supermarket, an insurance company and a bank. • Account plans • Account team structures and ROAD • Measure and improve competence: Using our maps experience of working with strategic account • Cross selling analysis managers around the world and our access to a very strong technology team we have developed the • Measurement tools Online Competence Benchmark which allows our An investment manager had 2 main issues. It clients to measure the KAM capabilities of its was not prioritising account management relationship leaders, identify the improvements resources in line with corporate strategy and its required, plan very focused, aligned development account plans were so cumbersome they were not being used. The Mercuri team worked with the and then measure improvement. A “Big 4” client’s project team and within a month had accountancy firm has used the Mercuri OCB as part selection criteria (“The AttAcc planner”) and a of its global accounts programme to identify the simple account plan in use. learning gaps for its lead partners. • Key account management self-study library: Over 30 articles and guides for strategic account managers – from “Leading virtual account teams” to “Working with the C Suite”. A global insurer used this library as a way of providing immediate content and support for its International and National Relationship Leaders while longer-term development was put in place.
  16. 16. Customer service that helps to grow and keep profitable customersCustomer service optionsOverviewThe current emphasis on restoring customer confidence and trust; reducing reputational risk; focussing on customers’real needs and building strong, loyal relationships means that customer service is even further up the financialservices agenda. As customers become increasingly knowledgeable, confident and demanding, meeting andexceeding expectations becomes increasingly challenging. The programmes described on this sheet are examplesof how Mercuri can help the business deliver on its promises to stakeholders. Calling on our Swedish roots we havedeveloped an approach to customer service that sits well with the times we live in and has proved itself with clientsranging from airlines, through utilities to banks.ExamplesCustomer Service Management Efficient customer communicationThis training will provide you with the necessary tools What does good service and caring for customers imply?for building and managing a target-oriented We will focus on phone customer meetings. Being able tobusiness. It will map and develop a process-oriented conduct efficient phone calls, taking and maintaining theway of working as well as providing you with initiative, carrying out a good needs-analysis, giving theknowledge and skills for following-up and improving buyer information they need and closing professionally.results. The training contains tasks that are directly Target group/scope. You are a customer service, help-applicable to your business. desk or contact center employee. 2 days.Target group/scope. You are responsible formanaging a service department, contact center orsimilar. 2 + 2 days. Selling on in-coming calls Incoming phone calls are wonderful sales opportunities. You will receive a clear model for turning a "problemWorld-class Customer Service solving" call into a sales conversation.How do you measure if you provide – world-class Target group/scope. You handle incoming phone calls incustomer service? You will receive tangible tips for a customer service or contact center department and wishcreating measurable and distinct result improvements. to improve your sales impact. 2 days.What must we follow-up and why? We will explore themeaning of world-class service.Target group/scope. You are a Manager/Head Help – the customer wants to leaveresponsible for the quality of the customer service One of our most important phone calls is the one when theprovided by your company/organization and you wish customer says they wish to leave. This training will provideto further improve this level of service. 1 day. you with a reliable method and practical tips for becoming more successful in convincing the customers to stay on. Target group/scope. Everyone who has customerCo-listener training contacts wishing to improve their ability on retainingCompanies working with qualitative co-listening and customers. 1 day.coaching have more qualitative customer calls,happier employees and more satisfied customers -which of course have positive effects on their Professional e-mailsprofitability. You will have the opportunity to practise More and more customers choose e-mail as a means forthe tools which you then may use for co-listening in communication with their providers. Its challenging toyour everyday working situation. answer a question or complaint from a customer via e-Target group/scope. You are a Manager, team mail. It’s not easy to communicate simply and directly,leader, coach or customer service employee and wish avoid misunderstandings and keep the customer satisfied.to improve your co-listening skills, whether its on the Target group/scope You handle customer errands via e-phone or in personal meetings. 2 days mail or letters and you wish to improve your ability to write easily understood, customer-friendly answers. 1 day.
  17. 17. Equipping teams for product and market campaignsOnline Competence BenchmarkBackgroundThe Online Competence Benchmark allows you to measure the skills, knowledge and attitudes of your people, ensurethese competences are aligned with your business, strategy and goals, plan targeted, prioritized and cost-effectivedevelopment and then measure improvement. It helps improve competitive strength and make the most of L&D budgets.It was developed specifically for clients in the financial and professional services sector where it has proved itself withmajor organisations including three of Europe’s Top 10 insurers, A Big 4 accountancy and a top3 risk manager. It hasbeen continuously improved based on work with these businesses and as and with global leaders in the IT, biomedicaland engineering sectors.Topline summary Practicalities We start by working with you help you define and The whole process is run on-line, saving time and calibrate the skills, knowledge and attitudes you are administrative costs. looking for in your teams. Allow about six weeks from kick-off to reporting. This process is made much faster and more The questionnaire takes about 45 minutes to complete. A effective by starting with Mercuri’s extensive manager can rate a team of 8 in 90 minutes. The libraries, based on our 50 years of experience and validation meetings typically take 90 minutes. covering many roles e.g. relationship managers, There are a number of options that can be switched on or strategic account managers, sales leaders, business off as required. development, marketing, project managers, sales support, client service teams. The library can be used as is, edited or redrafted. Some responses We build a communication plan together and brief ”Very open discussions and the team is seeing it as a real participants, their managers and learning opportunity to identify their key development areas. The specialists. system is working really well for us and I’ve had really positive feedback” National Sales Manager Business Individuals complete a questionnaire, rating Services themselves on a scale divided into bands e.g. emerging, experienced, role-model.. They identify “For the first time we are basing our development the competences they believe are most important decisions on facts and not guesswork” Head of for success in the role. Professional Development Life Assurer Managers rate their team-members in the same way “I found it really helpful to step back and think hard about The manager and the individual validate the how good I really am in this role and where I need to “scores” and agree on areas of focus. improve.” Global Lead Partner, Professional Services. .The individual receives a report comparing them to “This was a great starting point for our compelling selling others and/or a benchmark and identifying existing programme. It gave the team an appetite to learn and development tools to help them grow. helps us measure improvement” Sales Director Pensions The business receives powerful reports that give Provider compelling insights into gaps in competitive strengths and priorities for development. These “We used the OCB to demonstrate the links between reports can be cut by e.g. region, role, sector etc. competence development and sales performance . We reprioritised our training and saved enormous amounts of time on our old manual product knowledge testing and Some results skills assessment. We estimate £400k saved over 2 years” Head of Branch Performance , Investment & “We had high expectations when we commissioned Protection provider this work but the competence benchmarking worked far more smoothly and has given us far greater insights than any of us had expected!” Head of Corporates Top 10 Insurance Co
  18. 18. Ongoing implementation supportMaking it happen! Implementation ToolkitOverview“Ten new ideas are good… but one new idea put into practice is even better” This comment from Mercuri’sfounder Heinz Goldmann underlines the critical importance of putting training into practice or to put it another way,to turn “learning into earning!” It is clear that most adults need frequent small reminders and stimuli rather thanlearning only in big chunks. Many client facing people have a pragmatic, activist approach to learning which needsto be recognized and supported.Here are some of the ways in which Mercuri International approaches the challenge of helping financialprofessionals put their learning into practice.Examples • Manager briefing: If the participants’ managers • SMS/e-mail prompts. A weekly prompt is sent to have a clear grasp of what their people are each participant after the programme. These light covering before they attend training then they can one-line communications are designed to jog the engage actively before the training and know how memory and stimulate implementation on the to coach after the training. Working with an actuarial consultancy, implementation of account principle of “little and often”. Being used by a Gulf plans went from <30% to >70% when “Coaching bank to support sales leaders and relationship Awareness Calls” were introduced for line managers. “We don’t want the learning to get lost in managers. the pressures of daily business. This simple • Tele-mentoring: Participants receive a series of approach keeps the learning front of mind.” one-to-one or small group follow up calls to • Full blended learning: A global bank is using this stimulate retention, answer questions and focus on approach for sales team leaders around the world real-world application with clients. 30 pensions consultants generated £1.92mn of incremental following a 2 day workshop. Mercuri have designed business in the three months of a post-course five post call modules that take an hour a week to tele-mentoring campaign. complete and include calls to action and video interviews with leaders “Leaders like the look and • Coach the coach; Apply the tele-mentoring approach but to internal coaches or line managers, feel of these modules. They’re quick to do but also agreeing a specific campaign plan and monitoring give some really good back-up material” changed sales activity and business result. Using • Call the sales expert: For an agreed period this approach with a central European bank on a four month asset-gathering campaign, branches following the training, participants have access to a hit 100%-203% of stretch targets for high net worth hot line which they can call if they are having customers . difficulties in applying the learning with their clients. • Coaching observation checklists: Managers of a Access by voice, text or e-mail “I only used it once life assurance office received checklists to use but it helped me secure a seriously big deal.” when observing consultants in the field. • Coaching cafes: This way of working is more • Skill Sharpeners & Sales play book. Following appropriate for office-based sellers. A coach is their involvement in Mercuri sales training , an available on site on specific dates following the international group of wealth managers received a training and can be booked for one-to-one or group weekly article or “skill sharpener” by e-mail. These coaching sessions or used on a drop-in basis. were combined with tools from the training (e.g. positioning statements, question banks and • Access the blog “Selling Financial Services” at objection banks) into a sales playbook that is now http://selling-financial-services.com for stimulating standard issue for the sales force. The approach commentary and practical ideas. Other media are has been replicated for specific in development. markets/campaigns. • Aides-memoires: Participants are provided with prompt cards to review immediately before going into sales visits. “I keep in my folder and take a quick look before I go into meetings. It keeps me on track.”

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