Commercial Banks are losing client share of wallet: 70% of middle market clients and 39% of business owners now use 3 or more financial providers. To face this challenge, commercial banking organizations need to reconsidering how they drive greater productivity from their frontline sales force.
CEB research has shown that a particular type of relationship manager (RM) outperforms the rest. As someone who always understands what is driving their customer’s business and brings a unique perspective, the Challenger RM is able to create a differentiated, highly valued sales experience that makes customers much more likely to buy. Challengers in Commercial Banking can be nearly 25% more productive than the average RM. Challengers produce more loans, deposits, fee income, and new customers than do non-Challengers.
Take the Challenger Skill Assessment and discover you or your team's Challenger capabilities.