20 Credit Union Sales Myths Debunked Part 2
Last month we published the first ten myths of this “Twenty Credit Union Sales Myths Debunked” series. *** I received some great reviews of the article along with a few questions. One of those questions was this:
“Nick, we have employees who have definitely bought into many of these myths. How do we address them?”
This is an excellent question. It is one of the main motivations for writing this two-part article.
I aim to expose the myths that are holding you back as individuals and hindering the credit union’s success as an organization. I also intend to reveal the truths behind the myths so they can be debunked.
Naturally there will be different myths for each individual and organization. However, knowing that these myths exist should provide valuable insight into how they are impacting the success of your sales efforts and help you to see that they need to be addressed. In many situations, these myths create beliefs that are perpetuated. These beliefs cause ineffective processes and approaches which favor the avoidance of selling. I have specifically addressed some of these in previous articles but allow me to share one example in an effort to show how this article can answer the question asked.
One of the myths addressed in the previous article was the idea that it takes ten “noes” to get a “yes.” This myth supports the belief that selling is hard and requires many objections before you are able to make a sale. When this belief exists, front-line staff, sales leaders, and training teams continue to support the use of sales approaches that are ineffective and create objections. The truth is, effective selling efforts create greater member engagement. When you understand and know that selling efforts should result in more “yeses” than “noes,” you see objections as an opportunity to change and improve the selling approach and to never be satisfied with mediocrity
With that said, I am excited to present the next top ten myths your credit union may have bought into as an organization and the truths behind them to help you move forward.
MYTHS COMMON TO ORGANIZATIONS
11. We love our current culture, and sales training will ruin that.
While this is a myth, there is some truth to be found in it. Because of the myths surrounding sales, your credit union’s processes and procedures are generally out of alignment from those that exist in healthy sales cultures.
Changing these process and procedures will take continuous effort and work. It will be uncomfortable as employees are asked to be more inquisitive and sales leaders are asked to be less process minded and truly become business leaders. Coaches will have to stretch themselves as they are required to hold employees to new levels of accountability.
What isn’t true is that transforming and revising the processes and procedures to be more effective in sales will ruin the current culture and replace it with a culture that the organization doesn’t value more. Research shows that employees are happier when they feel a sense of accomplishment and see how their individual contributions promote the success of the organization. Additionally, employees who are continuously coached and developed see this investment in their growth as an opportunity to improve and work towards advancement and promotions. This applies to all levels. Working to instill a culture of sales success builds a level of engagement and fulfillment and creates a rewarding culture with which anyone can fall in love.
12. We need a customized sales approach built specifically for our culture.
Here is another culture question. Does your credit union really need a sales training program that feels “home grown” and customized to your culture? While it is best to have consistency to your messaging, this simply isn’t necessary.
Selling is a systematic set of actions which lead to a consistent and predictable outcome. What works for one credit union will work for the one across the street or across the country.....-->
Last month we published the first ten myths of this “Twenty Credit Union Sales Myths Debunked” series. *** I received some great reviews of the article along with a few questions. One of those questions was this:
“Nick, we have employees who have definitely bought into many of t...