READ TIME – 4 MINUTES
The financial service industry is one that will always be important.
Finance has also been quoted by some as one of the hardest things to sell.
That’s because, unlike a physical product, you can’t hold or envision finance. Your sales pitch is the main thing a customer can go off when considering a purchase.
The lack of a physical product elevates the importance of your pitch, as making more sales depends on the quality of people.
Whether you work in financial support, banking or accountancy, there will undoubtedly be sales trends you’ve been paying attention to.
AvA-V might not be finance experts, but we are sales experts.
We monitor all things sales & recruitment across several industries, and we believe we’ve found three avenues for finance companies to boost sales performance across the board.
How To Improve Sales Performance In Finance
Embrace Digital Selling
We believe knowing how to sell digitally is critical for salespeople in the finance industry.
As the age of technology continues to grow, understanding how to incorporate new tools into your sales pitch is essential.
It’s proven in the stats – sales and marketing are having a huge impact on how financial salespeople sell.
Did you know that mobile queries for “financial advisor” have increased by 75% in the last two years?
Your target audience may be more prominent online.
But how can you incorporate digital selling into your sales process?
Well, there are a few avenues you can take.
- Train your staff in the art of digital selling.
- Recruit people who understand how to sell digitally.
Or… why not combine the two?
If you upskill people who already understand the basics of what’s required from them, you’ll develop extraordinary executives who can take the industry by storm.
If you’re going to do both, you could seek the support of an external agency…
At AvA-V, we offer comprehensive solutions in which we will assess, recruit and train top sales talent who can drive business growth.
How To Improve Sales Performance In Finance
Look Beyond Experience
Due to the competitive nature of the market after the great resignation, hiring qualified talent is increasingly difficult.
Because finance is a busy and knowledge-led industry, hiring managers sometimes focus on hiring for experience to increase headcount.
This creates a competitive market where there are more fancies than candidates.
54% of people surveyed report having difficulty finding qualified candidates.
What can your business do to combat this application shortage?
Consider an alternative hiring approach.
Because there is such a focus on experienced candidates, the entry-level sales market remains relatively untouched.
This is because managers are discouraged by their lack of industry knowledge.
Think of it like this.
Whilst they have less knowledge now, you can provide entry-level candidates with the knowledge they’ll need in a role with your business.
What’s more, you can hire multiple entry-level executives at once when you partner with a specialist sales agency.
AvA-V specialises in group interviews that allow you to hire raw talent.
We’ll interview talent, organise a group interview setting and run sales-related activities.
The best part is we do it all for you.
All you have to do is choose your favourite candidates on the day.
How To Improve Sales Performance In Finance
Welcome The Age Of Automation
We’re very much in the age of AI.
We see it everywhere – businesses now incorporate artificial technology into their sales function to speed up the process and increase revenue.
This is something that is true of the finance industry.
Automation is great because it helps you reach the close quicker.
Ruler Analytics found that the financial services industry had an average conversion rate of 4.3%
Compare this to industry frontrunners, who are experiencing revenue growth of 19% that is directly attributable to their AI initiatives. This report was from 2021, so imagine how much revenue your sales team could bring in with the help of AI now!
How can you improve your close rate?
As a Sales Solution Specialist, we have a team of expert Sales Trainers who specialise in creating the perfect close to any deal.
AvA-V Are Here To Help You Make More Sales
We specialise in all things sales, be it training, recruitment or graduate schemes.
We’ve worked with several respected names in the finance industry, so we understand what top sales talent looks like.
If you’re curious about how we can help you elevate your sales function, get in touch with us today.