The Problem: “Fast Food Banking”

At Anthony Cole Training Group, we view it very much as our obligation to do what we can to help community banks get out of that fast food mentality. The comparison is simple.

Customers walk in.
They complete a transaction.
They leave.

“They pull in, go to the window, and then leave pretty quickly with what they went there to get.”

Efficient? Yes. Effective for deposit growth? Not even close. Because in that model, nothing changes. Input from one of the community banks: “At some point, we need to stop that crazy carousel from spinning and probe a little bit deeper into the relationship that we have with our customers.” That’s where deposit growth actually begins.

Customers Aren’t Leaving… Even When They Say They Will

There’s a stat that stood out immediately:

• About half of customers say they would leave for better rates or lower fees.
• But only about 13% actually do.

Why? “Most of our customers realize they’re going to have to go through some logistical gymnastics to make that bank change… and suddenly the presses halt.” That phrase matters: logistical gymnastics. It’s not that customers are happy. It’s that they’re stuck. So, they stay. Which means your competition isn’t just other banks. It’s inertia.

The Bigger Issue: Customers Walk in with “Invisible Baggage”

This is where the conversation shifts from tactics to reality. Customers are not walking into your branch empty-handed. They walked in with what we refer to as invisible baggage… and those problems are real:

• “I’m not saving enough for retirement.”
• “I’m living paycheck to paycheck.”
• “I’ve got too much debt.”
• “I don’t even know where to start.”

But here’s the issue: They walk in with these problems and then they walk out and they do not engage in a probing, value-added conversation. Why? Because they won’t bring it up. They’re probably not going to bring it up because it doesn’t feel good to talk about. And more importantly, they fear a sales pitch.

Why the Typical Branch Conversation Fails

Every banker knows this moment: “Is there anything else we can help you with today?”

And the answer? “No, I’m okay. Thank you.”

That’s not because nothing else is needed. It’s because the question doesn’t create safety or value. The answer 99 times out of 100… is No. So, the customer leaves. With the same problems. And no change in the relationship.

Deposit Growth Requires Different Questions

If the goal is deposit growth, the conversation has to change. It’s not about pushing products.
It’s about understanding the full relationship.

Questions like:

• From a financial perspective, what is on your list of concerns today?
• Who else do you have a relationship with?
• Where else are you holding deposits?
• Why did you choose them?
• How are they doing taking care of you?
• If you could change one thing, what would it be?

And then: “Would you find it helpful to discuss how we might be able to make your banking easier and more rewarding?” That’s a completely different experience.

Why Bankers Don’t Ask These Questions

Even when banks know what to do, it doesn’t always happen. Two reasons came up clearly:

1. Fear: They fear the response… they fear what if I don’t know enough… or just the general anxiety of beginning the conversation.

2. Lack of Belief: They don’t believe that they should be sticking their nose in somebody’s business.

But that’s the wrong mindset. There is a big difference between putting your nose in somebody’s business and your heart in somebody’s problem. That’s what this shift is about.

Handling the “Hassle” Objection

One of the most common responses from customers: “It’s just too much of a hassle.” Most bankers stop there. But the better approach is simple: “I understand.” Not agreement.
Just understanding. Then: “Suppose I told you it might be far less of a challenge than what you think it might be.” That’s how you keep the conversation moving.

Rates Matter… But They’re Not the Decision

Yes, customers care about rates. That’s never going away. But this matters more: There are rarely circumstances where that is the only thing. Customers will choose value. “Working with Mark was different… he asked me questions no one has asked me before.” That’s what drives movement. The truth: value is not meant to be communicated. It’s meant to be demonstrated.

The Real Problem: Fragmented Financial Lives

Another key insight: On average, the American consumer has about 15 to 20 different financial relationships. That creates what was called fracturing. It’s really hard… doggone impossible… for people to tell where they are financially and that opens the door for banks.

What if your bank became: “The easiest place for me to save money because I am receiving holistic financial advice.” That’s not product positioning. That’s relationship positioning.

Younger Customers Will Move Faster

There’s another shift happening: The younger you are, the quicker you are to switch. Why? Because:

• They’re less established
• They expect ease and speed
• They value experience and connection

If even just one of those elements are missing, it becomes worthy of a conversation to see what else is available. That’s where deposit growth is heading.

How to Start the Conversation the Right Way

If there’s one simple way to begin: “Would you find it helpful if…” That phrasing matters. It’s not pushy. It’s not transactional. It’s collaborative. Lead with your heart… not the bank’s wallet.

One of the most important takeaways: This is not a quick fix. You’re not going to change it in a month or two with a problem that has existed over years. This takes time. Probably year two, maybe even three… to start seeing that real cultural change. Because this isn’t about training. It’s about changing beliefs, behaviors, and expectations.

Deposit growth doesn’t come from doing more transactions. It comes from changing the conversation. Your customers leave… and nothing ever changes. Unless you change how you engage them. At the end of the day: Customers don’t want a sales pitch… they want a guide. And the banks that understand that are the ones that grow.

Article derived from webinar on Deposit Growth Strategies
hosted by Mark Trinkle, CGO and Alex Cole-Murphy, SDE.

Ready to develop stronger relationship-building skills across your sales team? Download our free eBook The Relationship Selling Guide for proven strategies and frameworks, or contact Anthony Cole Training Group to learn how our assessments and coaching can transform your team's ability to build rapport and close more business.

How to Respond to Price Objections in Financial Services Sales

To respond effectively to a rate or price request, financial services salespeople must be assertive, adept at asking questions, strong listeners, able to sell their value, and skilled negotiators.

Top-performing bankers and insurance producers know how to do this. With finely honed consultative skills, they can guide the negotiation toward the best possible outcome.

Why Consultative Selling Strengthens Financial Services Sales Strategies

We are often asked about training on financial services sales strategies, particularly around negotiating price, fees, and premiums. While important, the real strength of top producers lies in being inquisitive, curious, caring, and consultative.

While negotiating is about landing on an agreed-upon “fair deal” for both the prospect and service provider, consulting goes much further. A consultative seller comes prepared to a meeting, fully understanding potential issues a company may face, along with industry trends and challenges.

Top producers have their questions prepared, tailored for resonance, and have practiced answers to anticipated questions from prospects. These are foundational skills of a consultative seller and can be developed through a strong pre-call plan.

The Mindset of Top Financial Services Sales Professionals

Top financial services providers bring much more than preparation and sales negotiation tactics. Their questions stem from a genuine desire to understand, an open curiosity about the challenges a business owner may face, and a drive to learn more.

They aim to connect solutions with problems, even if the solution is not their own. These sales professionals are genuinely interested and, importantly, humble in their approach. They are confident in themselves and their organization, while remaining empathetic with their clients.

Through skillful questioning and listening, they help prospects and clients self-discover what needs to happen to solve their business problems.

Building Financial Services Sales Strategies Around Trust and Advisory Roles

A key component of developing a team’s financial services sales strategies is focusing on a consultative approach. This often leads to an advisory role, which is what producers and bankers strive to achieve with their clients.

When they become a trusted advisor, they can support clients on a much broader level than just products or services. They become part of the client’s inner circle, influencing decisions related to change and growth.

While sales negotiation tactics are important and often lead to satisfactory agreements, a truly consultative seller plays a critical role in business success, contributing to growth goals and improved profitability.

Negotiation vs. Consultative Selling Skills

Referencing data from our partner and the #1 sales assessment in the world, Objective Management Group, there are both similarities and differences in the skills required for strong negotiators and consultative sellers.

Here are the skills that strong negotiators have mastered:

Now let’s take a look at the skills of the consultative seller:

Final Thoughts on Financial Services Sales Strategies

In today’s environment, the ability to skillfully negotiate price while also maintaining a consultative approach is essential. These are core financial services sales strategies and true game changers for most sales organizations.

Discover more about the 21 Core Sales Competencies to continue strengthening your team’s performance.

Ready to develop stronger relationship-building skills across your sales team? Download our free eBook The Relationship Selling Guide for proven strategies and frameworks, or contact Anthony Cole Training Group to learn how our assessments and coaching can transform your team's ability to build rapport and close more business.

But if you stop to think about your flight, or business, in longer terms, you know that over the year you will probably hit a lot of turbulence. If used properly, your business dashboard, like the control panel of a 757, could provide the critical information you need to make the vital decisions required at those critical moments. In other words, it would be nice to have a system of alerts to give you warning before you are on the verge of crashing.

Are You Monitoring Your Top Sales Priorities?

Have you looked at your top sales priorities dashboard lately? What does it tell you? What alerts or warning systems do you have in place to let you know when you are losing altitude and attitude?

How do you know if all systems are working properly and that your sales aircraft will get you safely to your destination, on time and on target? What should you be monitoring and doing every day (priorities) in your "preflight inspection" to make sure you improve the probability of getting there and reaching your sales goals?

The Core Activities Behind Top Sales Priorities

Here’s my suggested short list of top sales priorities:

Prospecting, talking to people, scheduling appointments, conducting qualifying (and disqualifying) appointments, presenting, and getting decisions.

Just like each engine of an aircraft, each of your top sales priorities should have a gauge (a standard of performance) and an RPM or required ground speed (a set time frame) necessary for safe lift-off and landing of your aircraft at the proper destination.

Daily Actions That Support Your Top Sales Priorities

Let’s break these down into action items you can do today and this week to impact your top sales priorities:

1. Respond promptly to inquiries. Sixty-three percent of buyers expect a same-day response.
   
   
2. Pick up the phone and make the call. Do it consistently every workday. Schedule this prospecting time on your calendar and do not let anything get in the way.
   
   
3. Stay committed to follow-up. It often takes 14 attempts to reach a contact, yet most salespeople stop after three or four.
   
   
4. Ask for testimonials, reviews, and introductions from your best clients. When people are searching for services, reviews and introductions are valuable credibility points.
   
   
5. Fall in love with the word “no.” It helps you avoid wasting time with unqualified prospects.
   
   
6. Use tools like scorecards to identify higher-quality opportunities early. Download our free Prospect Scorecard here.
   
   
7. Make sure you are talking to decision-makers who have the authority to say yes or no.
   
   
8. Close the initial call with this question: “Is your problem just a problem, or is it a priority?”

Having a thoroughly monitored dashboard of top sales priorities to help you execute a safe landing, your goal, is a must.

Ready to develop stronger relationship-building skills across your sales team? Download our free eBook The Relationship Selling Guide for proven strategies and frameworks, or contact Anthony Cole Training Group to learn how our assessments and coaching can transform your team's ability to build rapport and close more business.

Why Soft Skills in Selling Matter in the First Meeting

Which of these approaches demonstrates a skillful approach to a sales conversation? We certainly hope that you chose the second. That is just one example, but a salesperson’s ability to deftly open a meeting, ask enough great questions, and really listen are examples of the importance of soft skills in sales. These are difficult skills to learn from a handbook. Soft skills in selling come from watching, practicing, and gaining comfort in the approach.

Since the most important soft skill for us to learn in selling is mastering not just great questions but timely and explorative questions, let’s explore that a bit.

• How do we get information from other people? We ask questions, right?

• When you ask a question, what kind of question do you ask? Are they technical in nature or for gathering data?

• Are your questions framed for yes or no answers?

• Do your questions really probe and make people think?

• Are your questions focused on the prospect’s core business issues or problems, or are they about your products?

• Do your questions sometimes surprise the prospect, perhaps make them a bit uncomfortable, and do they bring out the real issues?

What about after you ask those questions? This is when real soft skills in selling present themselves. How well do you listen? I mean, really listen. How often can you repeat what someone is saying to you? How often do you take a keyword in their answer and use that to phrase your next question? Typically, two things are going on in most sales conversations. Bankers or producers are hearing and not listening. Secondly, they are listening to themselves instead of their prospect and are formulating their response.

Salespeople should try this the next time they are in a conversation with a prospect and ask them a question. Really focus on listening and repeat what the prospect just said by repeating it and asking for confirmation. This is a great way to get the prospect to repeat what they said and to ensure the salesperson is not focused on listening to their internal talk. Sometimes, in the repeating, the prospect will provide additional context to the issue.

The Power of Asking the Right Question

Sometimes a salesperson will not ask a certain question because they do not want to disqualify a prospect. Be truthful, hasn’t this happened to you or your salespeople? By mastering the soft skills of asking questions, salespeople become more courageous as they get more comfortable ‘drilling down’ in their conversations. This will help them become better at qualifying their prospects and cleaning non-qualified prospects out of the sales pipeline. And that gives them more time for prospecting, the number one job for all financial services salespeople.

Here are some suggestions on helping salespeople become more skillful with their soft skills in selling:

• Role-play with them and help them to stay in the moment – they should not be thinking about what products they can sell. They need to listen and probe with good, interested questions.

• When they find an area of concern, they should uncover compelling reasons to buy – ask a question like “Why is this home equity loan important to you?” And…

• They must really listen to the answer and ask more questions about that issue so they have more information and understanding.

• This approach will build trust – the client’s needs are front and center, and it is clear the banker or agent wants to help them.

• The salesperson must be able to ask tough questions, and that takes courage. If the end goal is always to help the client, asking a question like “Do you have other deposit accounts elsewhere that we could help you with?” should not be that hard. But it may take practice!

• Good salespeople take nothing for granted – meaning they always seek clarity, and that means getting their client to talk.

• They must have an appropriate amount of patience. Again, if the salesperson’s focus is on their prospect, they should not need to push. It is more important that through their questions and discussion, the client comes to their own decision on their actions.

Soft skills in selling are what turn a routine conversation into a meaningful sales discussion. While product knowledge and technical expertise are important, they are rarely what determine success in the first meeting. The ability to ask thoughtful questions, listen carefully, and truly understand a prospect’s situation builds trust and uncovers the real reasons someone might want to make a change. When salespeople focus on developing these soft skills in selling, they not only improve their conversations but also create stronger relationships and better long-term results.

Register for our upcoming live webinar on Monday to learn why top lenders drive up to 10x more revenue than bottom performers and uncover the four qualities that define diamond-level relationship managers! You’ll gain practical insights on developing stronger producers and access a free tool to benchmark your team’s relationship-building skills. Free registration, recording provided.

Ready to develop stronger relationship-building skills across your sales team? Download our free eBook The Relationship Selling Guide for proven strategies and frameworks, or contact Anthony Cole Training Group to learn how our assessments and coaching can transform your team's ability to build rapport and close more business.

#1 Outsourcing the Responsibility for Recruiting Talent in Financial Services

They outsource their recruiting and the responsibility. Recruiting is something that financial services firms must own. Be cautious of outsourcing the work and the responsibility. That makes it too easy for people internally to throw up their hands and transfer failures associated with the hiring process to the outsourced firm. In order to recruit better talent in financial services, companies have to own the process.

#2 Lack of a Consistent Recruiting Process

There is a lack of a consistent process for constantly searching. Most, if not all, banks and insurance firms make the mistake of looking for candidates only when they have an opening. This leads to many problems:

• They are held hostage by producers with “large books.” Managers feel they cannot do anything about them for fear of losing the “books” since they do not have any replacements.

• They feel desperate to fill a chair with a warm bottom when there is a vacancy. A body, any body, is better than no one sitting in the chair.

• They do not replace underperformers because there isn’t a pipeline of candidates to choose from. The underperformers stay around too long; others know it and realize that they don’t have to perform that well to keep their job, so overall team production continues to decline.

#3 Poor Candidate Qualification in Financial Services Recruiting

Financial services companies are not getting quality candidates entering the process. The traditional model of recruiting today involves the placement firm trying to convince the financial services company why a candidate should be hired. Companies should, on the other hand, work extremely hard to disqualify candidates because there are specific skills that apply to that sales job and many or most candidates do not have those skills.

Bottom line, the company has to assess at least two things:

1. Does the candidate have enough of the right strengths to be successful?
2. Will they sell versus can they sell?

Here’s some information on how to find out if your candidate will sell.

#4 Poor Communication About Sales Role Expectations

There is poor communication about the specific role and expectations of this new hire. Too often, everyone is so excited about getting the seat filled that no one takes the time to get into the details of the day-to-day requirements of the job. This leads to early misunderstandings about the role and, eventually, failure on the part of the new hire to meet the expectations of the company. Failure to “negotiate on the 1st tee” leads to misunderstanding and failure to execute on the sales goals.

#5 Inadequate Onboarding for Sales Professionals

The onboarding process is inadequate in the area of selling. Most companies are ill-equipped to effectively onboard new salespeople. They spend time introducing them to the “culture” of the operation, the mechanics of the job, and how to get things done. They introduce them to HR, their support team, marketing, and their partners. And, yes, there is discussion about goals, sales activities, and how to enter data into CRM. And then… the new hires are on their own.

Banks and insurance firms think that they have hired their next sales superstar and then, 12 months later, they cannot figure out what went wrong. They look at the numbers and discover that the new hires are producing “just like everyone else in the middle of the pack.” The process many have in place currently to recruit and hire salespeople perpetuates this problem.

Need Help Recruiting Talent in Financial Services?

If you need help or more information on recruiting better talent, we have many resources available for you. You can start with our eBook on the topic:

How to Hire Bankers Who Will Sell

Register for our upcoming live webinar to learn why top lenders drive up to 10x more revenue than bottom performers and uncover the four qualities that define diamond-level relationship managers! You’ll gain practical insights on developing stronger producers and access a free tool to benchmark your team’s relationship-building skills. Free registration, recording provided.

Ready to develop stronger relationship-building skills across your sales team? Download our free eBook The Relationship Selling Guide for proven strategies and frameworks, or contact Anthony Cole Training Group to learn how our assessments and coaching can transform your team's ability to build rapport and close more business.