Types

• Many types of bank sales training can be implemented. A traditional in-class session may feature a trainer who presents information and demonstrates principles and tactics. Participants then practice the techniques and the trainer provides feedback and tips. Online training is an option for individual learning, and instructional material is available on DVDs and audio CDs. Some banks offer employee-led training, in which the best sales associates train other employees. Training involves understanding the bank's products and the goals of the particular bank branch.
  
  

Benefits

• Bank sales training increases associates' confidence and prepares them to make sales in a variety of circumstances. Sales training also allows participants to practice techniques in an environment that fosters feedback and input from others. Bank sales training can educate bank personnel on how customers view the interaction, and how to use that knowledge to effectively sell products. For example, if the bank knows that customers want to get the most out of existing checking accounts, the sales training may focus on ways to sell products that can link to the checking account, such as savings accounts, CDs and IRAs.
  
  

Considerations

• Training considerations include the participants' depth of experience. For example, associates who have had previous sales training may not benefit from a session geared toward first-time or new sales associates. Managers and training participants must understand the training goals, or the habits and techniques learned may not be put into place. Follow-up is also important. For example, bank personnel may be used to up-selling an account from a basic checking account to a premium checking account, but not used to suggesting additional products. It may take reminders and several tries to make a habit of cross-selling and up-selling.
  
  

Misconceptions

• A common misconception with bank sales training is that if you undergo training once, that's all the training you need. However, it may take several training sessions spread out over time for bank representatives to change their behavior and implement new sales tactics. A related misconception is that the training will have an immediate impact on sales income. It may take time for the training to work. Since banking regulations change over time, sales associates will need continual training to update their knowledge of new laws and to keep skills sharp.
  
  

Topics

• Topics for bank sales training can include customer relations, how to inform a customer and lead them to make the decision, how to read customers' body language, and how to assess the right product for the right person. Topics depend on the goal of the bank and the goal of the training session. For example, if a bank decides that customer relations is the focus of a training session, then the curriculum must be geared toward educating employees on how to be better at customer relations. Bank sales training can update participants on changes in state and federal regulation as it relates to bank products and services, such as new FDIC-guaranteed limits on accounts.