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Winning Sales Enablement Strategies for the Financial Services Industry

Today, in every facet and aspect of business, we’re hearing about the “customer experience” and the “buyer journey.”  There is a very good reason for that. 

Customer expectations are shifting, and no industry is immune to these new demands. The proliferation of social media and expansion of big data means that people are accustomed to rapid, personalized interactions.

With so many different options available to consumers, implementing key sales enablement strategies and delighting them with a “wow, that was different” experience is a crucial part of elevating your brand and adding to your bottom line.

One of the ways you can take your brand to the next level involves incorporating sales enablement campaigns into your overall marketing strategy. To sell effectively in today’s dynamic marketplace, your sales team needs a mixture of the right tools, processes, insights, and content.

But each industry is different, which means there’s no “one-size-fits-all” solution. However, there are some fundamentals that should shape the blueprint of your sales enablement strategies.  Currently, industries spanning finance and banking are ripe for revolutionizing the customer experience. Here’s how:

Sales enablement strategies in the financial sector

Consider the mobile expectation

Rapid changes in technology have spurred an onslaught of innovation in the financial sector, especially when it comes to mobile.  

FIS, a research organization that measures how well banks are meeting customer demands, recently released a study that the primary mode of banking for consumers is via mobile device. 

Additionally, more than 60% of millennials prefer digital self-service to the in-person branch experience. This is no surprise given the affinity for technology millennials hold, along with the proliferation of mobile devices, particularly over the last decade. Even 40% of baby boomers are going mobile-first with their banking.

With nearly 70% of banking handled digitally nowadays, it’s no wonder the digital experience has become so important. Financial services need easy-to-use digital platforms that are easy to use and accessible across multiple devices.

Provide a whole new banking experience 

When a customer does come into a branch to evaluate financial products and services, they expect more than a smiling, friendly face. They expect the trip to the bank to be as quick, painless, and effective as possible. Many banks are, as a result, thinking about in-person service in a new way – creating cool, café-type environments and eliminating paper-based transactions.  

That’s why institutions are turning to sales enablement platforms like Bigtincan to make this new way of engaging with customers more personalized and interactive. Through sales and revenue enablement, banking professionals can present and exchange information with customers in a branded, interactive environment on any of their devices. They can also record information digitally using custom forms instead of relying on binders of papers.

Keep your customers safe

According to the PACE survey from FIS, most customers “feel safe and secure banking with their primary financial institution.” However, if they experience fraud, this changes completely. So much so, that one in four customers surveyed would leave their bank if they experienced fraud. 

Financial institutions need to invest in tools that provide “multi-layered” security protocols. “This includes education about how to keep accounts private and secure as well as adding tools like two-factor authentication, fraud monitoring, push notifications, card controls and other protection features.”  The top sales enablement platforms for financial institutions, like Bigtincan, have intuitive reporting features that streamline compliance efforts, and utilize content-level control that ensure that advisors adhere to guidelines.

Make sure your financial advisors are getting the latest regulatory information

It is essential that advisors also have the latest regulatory information available in real time before engaging with clients in order to stay compliant. But how do you make sure they have consumed and understand the latest regulatory information? 

Having a platform that not only supports the advisors in their day to day selling efforts, but also can be leveraged to deliver the needed regulatory knowledge is important. Some key factors to consider in getting information to advisors in real time:

  • Make it mobile and make it easy: Have a tool that provides the latest with a beautifully designed mobile interface no matter what device is being used. 
  • Gamification works: People naturally want to compete and earn achievements. Make your learning experience fun between your teams.
  • Protect your brand and your advisors: While keeping it fun is important, making sure that your advisors have received, read, and been tested for their knowledge of new regulations is vital to your organization.

Why sales enablement campaigns matter

Although the financial services industry has historically been the most reluctant to adopt new technology, they are becoming more receptive to sales enablement.

And these days, successful sales enablement campaigns require smooth transitions between marketing and sales departments. Bigtincan offers comprehensive strategies that enable your sales teams to generate insights for your organization.


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