This Masters Of Sales podcast features Tanmaya Mohan Panda. He is Senior Banker at a Large Private Bank. Apart from this, you will also get to know about some valuable tips to boost your sales in Banking Sector.
Well, the idea behind the Masters of Sales podcast is to learn from the experiences of the Sales Experts. So that, in the future you can use their experience to scale your sales and enhance your marketing skills.
Tanmaya, an alumnus of MDI - Gurgaon has been working in major commercial banks for 16 years. He has experience in Cash Management services, Commercial Cards, Payments, Liquidity Management, Current Accounts Fx, Trade, Transaction Banking as well as Commercial Banking.
Moreover, the clarity of thoughts and his ability to articulate things makes him very different from others. Not only this but also the knowledge he has, the wisdom he plants, the strategies he makes are definitely worth every ounce of appreciation.
Tanmaya also believes that humour plays a significant role in everyone's life. Humour should not be restricted to Santa Banta Jokes, one should be humorous in personal life as well. He feels lucky for himself as he has a humorous side naturally. During the session, Tanmaya revealed, "By default, he is a mechanical engineer". But his fate is destined in such a way that today he is a transactional banking expert.
While speaking about Sales, he advised targeting only the right kind of customers work. For example, if you call a college student to offer him Home Loan. Then surely, he will cut your call by giving some negative response. So, it is really important to target potential customers who are in actual need of the product. This will enhance your conversion ratio (find more in the podcast).
According to Tanmaya, if the conversion rate from cold calling is 1%, then it is decent enough to make sales. But, if in case, someone has a 5% conversion rate, then this would be really amazing. Because as per Industry Standards, only a 1% to 5% conversion rate can be expected from cold calling.
Apart from this, Tanmaya also revealed some of the tactics about how sales and marketing should be done on a very large scale to boost your profits. Adding more to it, he included that there are two most important factors upon which sales depend. The one is your product or service should be the solution to your customer's problem. The other is customer's trust. Building customers' trust is really important to make sales.
Besides this, there is one more interesting fact about Tanmaya, he bagged the title of "Distinguished Toastmaster".
So, stay hooked with the entire session to figure out why Tanmaya, known as "Distinguished Toastmaster" and how a mechanical engineer turned out to be a banking expert for large private banks.
Boost Sales in Banking Sector
Due to the Covid pandemic, Sales in every business have almost been affected. But with the online platforms, still, there's a chance to reach your customers and scale your profits. Even, the same thing goes for the banking sector also.
There are a few tips and tricks which can accelerate your sales in banking:
- Reach your potential customers on the various online platforms.
- Figure out their needs & requirements such as are they looking for home loans, car insurances, health insurances, etc.
- Increase the security of your online platforms for banking transactions as this will build up customers' trust.
- Provide instant customer support.
Hope this helps you out in your Sales journey!
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