{"id":5269,"date":"2021-10-06T04:18:44","date_gmt":"2021-10-06T04:18:44","guid":{"rendered":"https:\/\/getvymo.com\/us\/blog\/?p=5269"},"modified":"2021-10-06T07:39:53","modified_gmt":"2021-10-06T07:39:53","slug":"guide-to-coach-your-relationship-managers-to-build-their-business-books","status":"publish","type":"post","link":"https:\/\/vymo.com\/blog\/guide-to-coach-your-relationship-managers-to-build-their-business-books\/","title":{"rendered":"Guide to Coach your Relationship Managers to Build their Business Books"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>[vc_row][vc_column][vc_column_text]<span style=\"font-weight: 400;\">Banks and financial institutions are facing twin challenges. On one hand, the industry is having a tough time hiring fresh talent, since \u2018millennials are getting pickier\u2019, as <\/span><i><span style=\"font-weight: 400;\">The Economist<\/span><\/i> <a href=\"https:\/\/www.economist.com\/special-report\/2017\/05\/04\/banks-are-finding-it-harder-to-attract-young-recruits\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">puts<\/span><\/a><span style=\"font-weight: 400;\"> it. On the other hand, they are witnessing high employee turnover rates: as much as 18.6%, as reported by a <\/span><a href=\"https:\/\/www.salary.com\/blog\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">blog<\/span><\/a><span style=\"font-weight: 400;\"> in <\/span><i><span style=\"font-weight: 400;\">Salary\/Compdata Survey<\/span><\/i><span style=\"font-weight: 400;\"> a while back.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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 <\/span><span style=\"font-weight: 400;\">relationship manager productivity<\/span><span style=\"font-weight: 400;\"> and drive growth for your organization.<br \/>\n<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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.<\/span>[\/vc_column_text]<style>@media (min-width: 992px) { .ld_spacer_69f5658c7010f{height:45px};}<\/style>\r\n<div class=\"ld-empty-space ld_spacer_69f5658c7010f\"><\/div><style>.ld_images_group_element_69f5658c70214 {margin-bottom:10px !important;  } .ld_images_group_element_69f5658c70214 {margin-bottom:10px !important;  } <\/style><div id=\"ld_images_group_element_69f5658c70214\" class=\"lqd-imggrp-single ld_images_group_element_69f5658c70214\"   >\r\n\t\r\n\t<div class=\"lqd-imggrp-img-container\"    >\r\n\t\t\r\n\t\t\t\t\r\n\t\t\t\t<figure ><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"600\" src=\"data:image\/svg+xml,%3Csvg xmlns=&#039;http:\/\/www.w3.org\/2000\/svg&#039; viewBox=&#039;0 0 1200 600&#039;%3E%3C\/svg%3E\" class=\"attachment-full size-full ld-lazyload\" alt=\"\" data-src=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/14.jpg\" data-srcset=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/14.jpg 1200w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/14-300x150.jpg 300w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/14-1024x512.jpg 1024w\" data-sizes=\"(max-width: 1200px) 100vw, 1200px\" data-aspect=\"2\" title=\"\"><\/figure>\t\t\t\t\t\t\t\t\r\n\t<\/div><!-- \/.lqd-imggrp-content -->\r\n<\/div><!-- \/.lqd-imggrp-single -->[vc_column_text]<\/p>\n<h3><strong>1. Use a smart sales enablement platform that dissects successful deals<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Wouldn\u2019t it be great if practically everyone on your team could perform as well as your best commercial RM does? Vymo, the smart <\/span><span style=\"font-weight: 400;\">sales acceleration platform<\/span><span style=\"font-weight: 400;\">, uses intelligent insights to make this happen.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It auto-captures a substantial portion of each of the previous transactions. Next, it \u2018learns\u2019 from <\/span><span style=\"font-weight: 400;\">top performing RMs<\/span><span style=\"font-weight: 400;\"> by drawing conclusions from your successful top-performers\u2019 actions. It will provide <\/span><span style=\"font-weight: 400;\">timely nudges<\/span><span style=\"font-weight: 400;\"> 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.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This means every RM has a better chance to be a high-performing relationship manager. Wallet share, productivity and employee morale, everything goes up.<\/span>[\/vc_column_text]<style>@media (min-width: 992px) { .ld_spacer_69f5658c7d657{height:45px};}<\/style>\r\n<div class=\"ld-empty-space ld_spacer_69f5658c7d657\"><\/div><style>.ld_images_group_element_69f5658c7d72c {margin-bottom:10px !important;  } .ld_images_group_element_69f5658c7d72c {margin-bottom:10px !important;  } <\/style><div id=\"ld_images_group_element_69f5658c7d72c\" class=\"lqd-imggrp-single ld_images_group_element_69f5658c7d72c\"   >\r\n\t\r\n\t<div class=\"lqd-imggrp-img-container\"    >\r\n\t\t\r\n\t\t\t\t\r\n\t\t\t\t<figure ><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"600\" src=\"data:image\/svg+xml,%3Csvg xmlns=&#039;http:\/\/www.w3.org\/2000\/svg&#039; viewBox=&#039;0 0 1200 600&#039;%3E%3C\/svg%3E\" class=\"attachment-full size-full ld-lazyload\" alt=\"\" data-src=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/15.jpg\" data-srcset=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/15.jpg 1200w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/15-300x150.jpg 300w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/15-1024x512.jpg 1024w\" data-sizes=\"(max-width: 1200px) 100vw, 1200px\" data-aspect=\"2\" title=\"\"><\/figure>\t\t\t\t\t\t\t\t\r\n\t<\/div><!-- \/.lqd-imggrp-content -->\r\n<\/div><!-- \/.lqd-imggrp-single -->[vc_column_text]<\/p>\n<h3><strong>2. Get sale enablement platform to improve relationship manager productivity<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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\u2019s app is always \u2018ready\u2019 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.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Following up with another prospect, checking the status of a set of customer\u2019s documents, watching a product video in order to improve product knowledge&#8230;the platform helps your teams capitalize upon such leakage hours, a true sign of a super-performer.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By ensuring they use time efficiently, your <\/span><span style=\"font-weight: 400;\">sales platform<\/span><span style=\"font-weight: 400;\"> makes sure your relationship manager productivity is at its peak all the time. <\/span>[\/vc_column_text]<style>@media (min-width: 992px) { .ld_spacer_69f5658c8ad7e{height:45px};}<\/style>\r\n<div class=\"ld-empty-space ld_spacer_69f5658c8ad7e\"><\/div><style>.ld_images_group_element_69f5658c8ae64 {margin-bottom:10px !important;  } .ld_images_group_element_69f5658c8ae64 {margin-bottom:10px !important;  } <\/style><div id=\"ld_images_group_element_69f5658c8ae64\" class=\"lqd-imggrp-single ld_images_group_element_69f5658c8ae64\"   >\r\n\t\r\n\t<div class=\"lqd-imggrp-img-container\"    >\r\n\t\t\r\n\t\t\t\t\r\n\t\t\t\t<figure ><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"600\" src=\"data:image\/svg+xml,%3Csvg xmlns=&#039;http:\/\/www.w3.org\/2000\/svg&#039; viewBox=&#039;0 0 1200 600&#039;%3E%3C\/svg%3E\" class=\"attachment-full size-full ld-lazyload\" alt=\"\" data-src=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/16.jpg\" data-srcset=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/16.jpg 1200w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/16-300x150.jpg 300w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/16-1024x512.jpg 1024w\" data-sizes=\"(max-width: 1200px) 100vw, 1200px\" data-aspect=\"2\" title=\"\"><\/figure>\t\t\t\t\t\t\t\t\r\n\t<\/div><!-- \/.lqd-imggrp-content -->\r\n<\/div><!-- \/.lqd-imggrp-single -->[vc_column_text]<\/p>\n<h3><strong>3. Use an intelligent platform to overcome rejections<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">In sales a \u2018No\u2019 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\u2019t rejecting the proposal &#8211; they are asking for more information on why your offer is better.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But what information? A spreadsheet that\u2019s full of interest and payback calculations? A summary of the tax implications? Or perhaps similar case study?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Vymo\u2019s <\/span><span style=\"font-weight: 400;\">sales platform<\/span><span style=\"font-weight: 400;\"> 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.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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.<\/span>[\/vc_column_text]<style>@media (min-width: 992px) { .ld_spacer_69f5658c988ad{height:45px};}<\/style>\r\n<div class=\"ld-empty-space ld_spacer_69f5658c988ad\"><\/div>[vc_column_text]<\/p>\n<h3><strong>4. Leverage the integrations of your intelligent sales engagement platform\u00a0<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">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\u2019d need, had they been sitting in the office. That helps your RMs smartly prioritize leads, leading to increased\u00a0 efficiency and productivity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, Vymo\u2019 mobility solution makes calendaring easy and virtually automatic: when your relationship manager agrees to an appointment over email, their calendar is automatically updated.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The most important part of Vymo, of course, is that your RMs can get access to the centralized information, like the prospect\u2019s preferences, at the level they need, something legacy systems are incapable of doing. <\/span>[\/vc_column_text]<style>@media (min-width: 992px) { .ld_spacer_69f5658c9890d{height:45px};}<\/style>\r\n<div class=\"ld-empty-space ld_spacer_69f5658c9890d\"><\/div><style>.ld_images_group_element_69f5658c98995 {margin-bottom:10px !important;  } .ld_images_group_element_69f5658c98995 {margin-bottom:10px !important;  } <\/style><div id=\"ld_images_group_element_69f5658c98995\" class=\"lqd-imggrp-single ld_images_group_element_69f5658c98995\"   >\r\n\t\r\n\t<div class=\"lqd-imggrp-img-container\"    >\r\n\t\t\r\n\t\t\t\t\r\n\t\t\t\t<figure ><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"600\" src=\"data:image\/svg+xml,%3Csvg xmlns=&#039;http:\/\/www.w3.org\/2000\/svg&#039; viewBox=&#039;0 0 1200 600&#039;%3E%3C\/svg%3E\" class=\"attachment-full size-full ld-lazyload\" alt=\"\" data-src=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/17.jpg\" data-srcset=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/17.jpg 1200w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/17-300x150.jpg 300w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/17-1024x512.jpg 1024w\" data-sizes=\"(max-width: 1200px) 100vw, 1200px\" data-aspect=\"2\" title=\"\"><\/figure>\t\t\t\t\t\t\t\t\r\n\t<\/div><!-- \/.lqd-imggrp-content -->\r\n<\/div><!-- \/.lqd-imggrp-single -->[vc_column_text]<\/p>\n<h3><strong>5. Ensure compliance, using an intelligent sales platform<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">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\u2019t suffer just because something wasn\u2019t approved at the right instance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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\u2019t have to remember everything or even check tons of documents every time they meet with the prospect; the tech solution will automatically guide them.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Vymo\u2019s 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.<\/span><\/p>\n<h2><strong>Working with the sales engagement platform for banks<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most importantly, the AI ensures that your growth doesn\u2019t remain at the mercy of a couple of your rockstar salespeople; by digitally debriefing and learning, our smart platform democratizes sales activities. And that\u2019s exactly what we mean when we say we are designed for your growth.<\/span>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]Banks and financial institutions are facing twin challenges. On one hand, the industry is having a tough time hiring fresh talent, since \u2018millennials are getting pickier\u2019, 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[50],"class_list":["post-5269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-relationship-managers"],"_links":{"self":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts\/5269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/comments?post=5269"}],"version-history":[{"count":8,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts\/5269\/revisions"}],"predecessor-version":[{"id":5311,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts\/5269\/revisions\/5311"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/media\/5289"}],"wp:attachment":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/media?parent=5269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/categories?post=5269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/tags?post=5269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}