{"id":5316,"date":"2021-10-07T06:36:46","date_gmt":"2021-10-07T06:36:46","guid":{"rendered":"https:\/\/getvymo.com\/us\/blog\/?p=5316"},"modified":"2021-10-07T06:36:46","modified_gmt":"2021-10-07T06:36:46","slug":"why-a-mobile-first-solution-for-coaching-commercial-banking-rms-is-integral","status":"publish","type":"post","link":"https:\/\/vymo.com\/blog\/why-a-mobile-first-solution-for-coaching-commercial-banking-rms-is-integral\/","title":{"rendered":"Why a mobile-first solution for coaching Commercial Banking RMs is integral?"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>[vc_row][vc_column]<style>@media (min-width: 992px) { .ld_spacer_69e4a20a7d3dc{height:15px};}<\/style>\r\n<div class=\"ld-empty-space ld_spacer_69e4a20a7d3dc\"><\/div>[vc_column_text]<span style=\"font-weight: 400;\">Commercial banking is not just competitive in the context of immediate sales, it is also competitive about how a bank is able to build stronger, long-term relationships with its prospects and customers. And to achieve all this, you\u2019ll need to coach your relationship managers (RMs) on how to build and cultivate long-term relationships.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">SMB banking systems that use modern, intelligent tools will realize better sales and forge stronger relationships with customers. A smart tool, among various other things, can provide contextual tips and help build predictability in the entire sales process by making it more data-led.\u00a0\u00a0<\/span>[\/vc_column_text]<style>@media (min-width: 992px) { .ld_spacer_69e4a20a7d47d{height:45px};}<\/style>\r\n<div class=\"ld-empty-space ld_spacer_69e4a20a7d47d\"><\/div><style>.ld_images_group_element_69e4a20a7d507 {margin-bottom:10px !important;  } .ld_images_group_element_69e4a20a7d507 {margin-bottom:10px !important;  } <\/style><div id=\"ld_images_group_element_69e4a20a7d507\" class=\"lqd-imggrp-single ld_images_group_element_69e4a20a7d507\"   >\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\/1-2.jpg\" data-srcset=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/1-2.jpg 1200w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/1-2-300x150.jpg 300w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/1-2-1024x512.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<h2><span style=\"font-weight: 400;\">Why coaching is important for RMs<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Coaching your relationship managers is not just about explaining your products. It\u2019s about sharing the philosophy and the vision of the bank. They must have a very clear picture of why your bank exists and how you aim to solve customer problems profitably.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A strong coaching program is required for at least three reasons:\u00a0<\/span><\/p>\n<ol>\n<li><b>Standards:<\/b><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> A strong coaching program is the North Star that the RM will reference to in their field job and help them deliver per the standards.<\/span><\/span><\/li>\n<li><b> Long-term:<\/b><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> Relationship management builds future demand. A strong coaching program ensures that RMs are able to drive growth on the basis of long-term engagement, instead of limited, short-term growth.<\/span><\/span><\/li>\n<li><b>Real-life:<\/b> A coaching program provides real-life, hands-on training that your relationship managers need if they must perform on ground without any dissonance.<\/li>\n<\/ol>\n<p>[\/vc_column_text]<style>@media (min-width: 992px) { .ld_spacer_69e4a20a8b58a{height:45px};}<\/style>\r\n<div class=\"ld-empty-space ld_spacer_69e4a20a8b58a\"><\/div><style>.ld_images_group_element_69e4a20a8b64c {margin-bottom:10px !important;  } .ld_images_group_element_69e4a20a8b64c {margin-bottom:10px !important;  } <\/style><div id=\"ld_images_group_element_69e4a20a8b64c\" class=\"lqd-imggrp-single ld_images_group_element_69e4a20a8b64c\"   >\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\/8.jpg\" data-srcset=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/8.jpg 1200w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/8-300x150.jpg 300w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/8-1024x512.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<h2><span style=\"font-weight: 400;\">Features of a good coaching platform<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Irrespective of how good your products are, the growth of your bank is dependent largely upon how you have coached your relationship managers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are the 3 top features of a good coaching tool:<\/span><\/p>\n<ol>\n<li><b> It should be technology-powered:<\/b><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> Because practically all businesses today are powered by technology, it&#8217;s crucial that your coaching tool is technology-driven.<\/span><\/span><\/li>\n<li><b> It should be contextual: <\/b><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The right coaching tool needs to be both dynamic and capable of providing contextual coaching by showing your relationship managers how they should be performing\u00a0 or responding to particular situations.<\/span><\/span><\/li>\n<li><b>It should be data-driven:<\/b> It should be led by what is actually happening in the field, thereby ensuring your RMs act on facts and insights about your customer.<\/li>\n<\/ol>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<h2><span style=\"font-weight: 400;\">Why mobile-first coaching for RMs is integral<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Now that we\u2019re clear about the importance and the features of a great coaching program, let\u2019s see why a mobile-first solution for coaching commercial banking RMs is integral to engagement, performance, and growth.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">1. Mobile makes onboarding easier<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A mobile-first solution makes the onboarding process easier because it\u2019s both handy and comprehensive. Any data it doesn\u2019t have, it can easily pull from the centralized sales enhancement platform that it\u2019s using.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your relationship managers will be using a mobile device while they will be in the office or out there meeting with clients. Using the same device and platform during and after the coaching gives them the robust confidence that comes only from the familiarity of repeat use.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">2. Mobile-first solution is contextual<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The best part of an intelligent lead management software is its ability to build context. This contextual coaching becomes vital because that helps your RMs easily connect the dots.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The ability of Vymo to \u2018understand\u2019 context helps build customer centricity. As mentioned earlier, coaching is not about explaining your RMs about your products, it\u2019s about helping them understand the broad market dynamics. All this learning helps your intelligent tool build context while coaching the RMs.<\/span>[\/vc_column_text]<div id=\"ld_images_group_element_69e4a20a99085\" class=\"lqd-imggrp-single ld_images_group_element_69e4a20a99085\"   >\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\/9.jpg\" data-srcset=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/9.jpg 1200w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/9-300x150.jpg 300w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/9-1024x512.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><span style=\"font-weight: 400;\">3. Mobile-first coaching leads to better performance<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Because your RMs will be vying for business by leveraging customer relationships, insights from a smart sales enhancement tool will reinforce their pitch.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The tool will generate actionable data and recommendations by breaking down user behaviour, success of sales funnels and the like, and thus make your teams\u2019 job more efficient and data-led. It will build efficiency by helping prioritize leads and map the right leads to the right RMs.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">4. Mobile-first solution reduces attrition<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The EBN cites a <\/span><a href=\"https:\/\/www.benefitnews.com\/news\/avoidable-turnover-costing-employers-big\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">study<\/span><\/a><span style=\"font-weight: 400;\"> that says that losing an employee could cost the company 33% of the employee\u2019s annual salary.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Vymo \u2018learns\u2019 how top performing RMs achieve results and everyone else replicate that success. This improved performance, in turn, creates a better atmosphere in which few, if any, team-members would like to quit.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Coaching is also a clear way of telling your RMs that your system is committed to and is investing in their performance. Making your relationship managers feel valued goes a long way in keeping them deeply engaged with your bank.<\/span>[\/vc_column_text]<div id=\"ld_images_group_element_69e4a20aa7010\" class=\"lqd-imggrp-single ld_images_group_element_69e4a20aa7010\"   >\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\/10.jpg\" data-srcset=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/10.jpg 1200w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/10-300x150.jpg 300w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/10\/10-1024x512.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><span style=\"font-weight: 400;\">5.\u00a0 Mobile-first coaching is about engaging, learning and doing<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">SMB banking has a number of touchpoints and, depending upon a variety of factors, multiple stakeholders are impacted by decisions. Also, conversions take longer.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s precisely why your manager\u2019s ability to keep prospects engaged becomes pivotal.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Only a new-age mobile tool can provide experiential training. For instance, Vymo provides timely nudges for the best next action in order to keep the prospect engaged. This helps RMs you\u2019re training navigate through situations a great deal more efficiently.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Closing remarks<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Because people are getting increasingly short of time, age-old sales methods aren\u2019t effective since they\u2019re mostly hit-and-trial. Offering lower fees or better interest rates can work with a few prospects, but most customers will look for additional factors before deciding which bank to engage with. All this underlines the importance of relationship marketing &#8211; your RMs are the new frontiers of growth for your bank.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The impact of coaching on the success of your RMs is so deep that it&#8217;s worthwhile to recap its benefits. Effective onboarding, contextual learning, better future performances, reduction in attrition and immersive learning are some of the top benefits you\u2019ll draw while using the right tool to coach your RMs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the light of all this, using a mobile solution to coach your RMs and sharpen their skills for the real world is imperative. By using smart tools to coach your RMs, you are not only improving the outcomes of the coaching but also charting a stronger growth story for your bank. <\/span>[\/vc_column_text]<style>@media (min-width: 992px) { .ld_spacer_69e4a20ab52ea{height:45px};}<\/style>\r\n<div class=\"ld-empty-space ld_spacer_69e4a20ab52ea\"><\/div><style>@media (min-width: 992px) { .ld_spacer_69e4a20ab5362{height:45px};}<\/style>\r\n<div class=\"ld-empty-space ld_spacer_69e4a20ab5362\"><\/div>[\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]Commercial banking is not just competitive in the context of immediate sales, it is also competitive about how a bank is able to build stronger, long-term relationships with its prospects and customers. And to achieve all this, you\u2019ll need to coach your relationship managers (RMs) on how to build and cultivate long-term relationships.\u00a0 SMB banking [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5330,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[46,51,52],"class_list":["post-5316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-smb-banking","tag-commercial-banking","tag-nobile-first-solution","tag-rms"],"_links":{"self":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts\/5316","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=5316"}],"version-history":[{"count":8,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts\/5316\/revisions"}],"predecessor-version":[{"id":5329,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts\/5316\/revisions\/5329"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/media\/5330"}],"wp:attachment":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/media?parent=5316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/categories?post=5316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/tags?post=5316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}