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Guide to Coach your Relationship Managers to Build their Business Books

Banks and financial institutions are facing twin challenges. On one hand, the industry is having a tough time hiring fresh talent, since ‘millennials are getting pickier’, as The Economist puts it. On the other hand, they are witnessing high employee turnover rates: as much as 18.6%, as reported by a blog in Salary/Compdata Survey a while back.

The good news is that your commercial banking RMs (Relationship Managers), when armed with technology-powered and data-driven marketing, can build their business books, improve relationship manager productivity and drive growth for your organization.

In this post, we discuss how modern tools can double up as both a powerful platform to generate business from and a remarkable training tool to help relationship managers crush targets.


1. Use a smart sales enablement platform that dissects successful deals

Wouldn’t it be great if practically everyone on your team could perform as well as your best commercial RM does? Vymo, the smart sales acceleration platform, uses intelligent insights to make this happen. 

It auto-captures a substantial portion of each of the previous transactions. Next, it ‘learns’ from top performing RMs by drawing conclusions from your successful top-performers’ actions. It will provide timely nudges and suggest the best approach to follow at each stage, because it has learned from countless previous instances. In that sense, Vymo helps replicate that success of your top performers. 

This means every RM has a better chance to be a high-performing relationship manager. Wallet share, productivity and employee morale, everything goes up.


2. Get sale enablement platform to improve relationship manager productivity

Digital transformation efforts of organizations can be called fully successful only when they ensure growth of individuals. To achieve this, you need an intelligent platform that will help your sales team automate as many tasks as possible, allowing them to focus on business growth and conversion.

Take, for example, when a prospect had to reschedule an appointment at the last moment. leaving your RM with 20 minutes that are suddenly free. Vymo’s app is always ‘ready’ for such situations. The moment it notices the 20-minute slot suddenly vacant, it will send out suggestions to your relationship manager about what they can do during this 20 minutes. 

Following up with another prospect, checking the status of a set of customer’s documents, watching a product video in order to improve product knowledge…the platform helps your teams capitalize upon such leakage hours, a true sign of a super-performer.

By ensuring they use time efficiently, your sales platform makes sure your relationship manager productivity is at its peak all the time.


3. Use an intelligent platform to overcome rejections

In sales a ‘No’ from a prospect is often a request for more information. When, for instance, a prospect turns down an offer to finance their takeover deal, they aren’t rejecting the proposal – they are asking for more information on why your offer is better. 

But what information? A spreadsheet that’s full of interest and payback calculations? A summary of the tax implications? Or perhaps similar case study?

Vymo’s sales platform for banks has the answers. A single engagement app, Vymo will have records of all previous transactions and solve the success formula for you. It will map prospect requirements. Then, based on where the prospects are in the sales funnel, it will suggest the PDF or the video your relationship manager should share with the prospect. 

The best part here is that the success of your sales process is no longer at the mercy of people.Thanks to Vymo, everyone on your sales team will now have the potential of your superstar performer.

4. Leverage the integrations of your intelligent sales engagement platform 

Because your sales teams are often on the move, they want a sales engagement solution that works on their smartphone and lets them access the same bit of information they’d need, had they been sitting in the office. That helps your RMs smartly prioritize leads, leading to increased  efficiency and productivity.

Moreover, Vymo’ mobility solution makes calendaring easy and virtually automatic: when your relationship manager agrees to an appointment over email, their calendar is automatically updated. 

The most important part of Vymo, of course, is that your RMs can get access to the centralized information, like the prospect’s preferences, at the level they need, something legacy systems are incapable of doing.


5. Ensure compliance, using an intelligent sales platform

Compliance requirements in the banking and financial services industry have turned considerably stringent in the past decade or so, placing your resources under significant strain. Every deal you close, or even try to close, can be weighed down by all the statutory requirements you must follow. And yet, your relationship cadence shouldn’t suffer just because something wasn’t approved at the right instance.

The intelligent sales platform of Vymo takes care of a huge portion of these requirements at both macro as well as the micro level. It will pinpoint what conditions must be met before, during, or after meeting with the prospect. Your teams don’t have to remember everything or even check tons of documents every time they meet with the prospect; the tech solution will automatically guide them.

Vymo’s SMB banking platform lets you build and maintain a set of approved communications and posts. That way, when your growth teams or social media teams need to post something relevant, they can directly access that repository of pre-approved communications.

Working with the sales engagement platform for banks

Helping grow your relationship manager wallet share and build their business book is important to ensure organization-wide growth. A sales engagement platform, built for growth, monitored for compliance and adopted for efficiency, is the answer to multiple challenges your relationship managers face.

From automatically capturing the crux of an email conversation to suggesting advisors the next best course of action, the AI-powered Vymo app brings efficiency and speed to your growth-biased activities. It not only dramatically improves your onboarding outcomes but also slashes the time required to do so. 

Most importantly, the AI ensures that your growth doesn’t remain at the mercy of a couple of your rockstar salespeople; by digitally debriefing and learning, our smart platform democratizes sales activities. And that’s exactly what we mean when we say we are designed for your growth.



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