Kinesis CEM, LLC
It’s Personal:
Retail Banking Sales & Closing Behaviors that Drive Purchase Intent
https://blog.kinesis-c...
Identify Sales and
Service Attributes
Which Drive
Purchase Intent
Research
Purpose
Objectives:
- Define sales process at different retail
banks
- Evaluate the effectiveness of specific
sales behaviors
Meth...
Most
Common
Closing
Behaviors
Express interest in your business
or make feel valued as a customer
70%
Asked for the busine...
Effectiveness
of Closing
Behaviors
1.6
2.2
2.2
3.6
Discussed products in
terms of benefits
designed to meet needs
Asked fo...
Drivers of
Feeling
Valued
20%
24%
29%
34%
Informative/ Answered
questions
Offer to open account/
Effort to get business
Pe...
Strength of
Purchase
Intent Drivers
Comments with POSITIVE relationship to purchase intent.
Positive
Purchase
Intent
Negat...
Express
Interest &
Value
Customer
The sales behavior with the
strongest relationship to
purchase intent is expressing
inte...
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Retail Bank Closing Behaviors that Drive Purchase Intent

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As branches continue to evolve from a transactional center to a sales center, it is important to understand what in-branch sales and service behaviors are most effective in terms advancing the sale.
To explore the effectiveness of sales and service behaviors within the branch environment, we conducted research into the efficacy of the branch sales process to identify service and sales attributes that drive purchase intent.

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Retail Bank Closing Behaviors that Drive Purchase Intent

  1. 1. Kinesis CEM, LLC It’s Personal: Retail Banking Sales & Closing Behaviors that Drive Purchase Intent https://blog.kinesis-cem.com/2013/06/27/its-personal-retail-banking-sales-closing-behaviors-that-drive-purchase-intent-2/ Eric Larse is co-founder of Seattle-based Kinesis, which helps companies plan and execute their customer experience strategies. Mr. Larse can be reached at elarse@kinesis-cem.com. http://www.kinesis-cem.com http://www.kinesis-cem.com/bank_customer_experience.shtml kinesis-cem.com 206.285.2900 info@kinesis-cem.com It’s Personal: Retail Banking Sales & Closing Behaviors that Drive Purchase Intent
  2. 2. Identify Sales and Service Attributes Which Drive Purchase Intent Research Purpose
  3. 3. Objectives: - Define sales process at different retail banks - Evaluate the effectiveness of specific sales behaviors Methodology: - Mystery Shopping - Sample Size = 100 - Presence of sales behaviors cross tabulated by Purchase Intent Research Plan
  4. 4. Most Common Closing Behaviors Express interest in your business or make feel valued as a customer 70% Asked for the business or some commitment to action 70% Discussed products in terms of benefits designed to meet needs 68% Made comment expressing value of banking with the bank 63%
  5. 5. Effectiveness of Closing Behaviors 1.6 2.2 2.2 3.6 Discussed products in terms of benefits designed to meet needs Asked for the business or some commitment to action Made comment expressing value of banking with the bank Express interest in your business or make feel valued as a customer
  6. 6. Drivers of Feeling Valued 20% 24% 29% 34% Informative/ Answered questions Offer to open account/ Effort to get business Personal/ Full Attention/ Not Rushed Sincere/ Best interests in mind/ Concern for needs
  7. 7. Strength of Purchase Intent Drivers Comments with POSITIVE relationship to purchase intent. Positive Purchase Intent Negative Purchase Intent Personal/ Full Attention/ Not Rushed 45% 0% Sincere/ Best interests in mind/ Concern for needs 43% 11% Comments with NEGATIVE relationship to purchase intent. Positive Purchase Intent Negative Purchase Intent Offer to open account/ Effort to get business 6% 61% Informative/ Answered questions 17% 50% Effectiveness defined by ratio of the frequency the question is asked in shops with positive purchase intent relative to the frequency in shops with negative purchase intent. How expressed interest/made feel valued as customer…
  8. 8. Express Interest & Value Customer The sales behavior with the strongest relationship to purchase intent is expressing interest in the customer and making them feel valued. The most effective way to make customers feel valued and interested is to provide them your full attention and sincerely demonstrate concern for the customers needs and bets interests.

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