Why is it some of your people have no problem generating business while others seem reluctant to pick up the phone? Why does it seem like you have to constantly lean on some people to get their sales numbers up? The short answer to all these questions is all businesses have three different types of people with different propensities and even aversions to sell: Finders, Minders and Grinders. Management at banks and credit unions many times don’t understand the differences and place staff in the wrong slot assuring their failure. You can improve sales performance significantly by recognizing these three types of staff and reassigning them as appropriate.
1. FINDERS are good at getting the business
Finders are aggressive go-getters and natural “rainmakers”. They love the thrill of the hunt for new business. However, don’t expect them to service the account. As soon as a sale is made they’re off looking for their next one. He’s not well suited to doing paperwork or servicing the customer or member. He tends to be smug and leaves service and follow-through to others. A Finder is best suited for seeking new business.
Recommendation: Assuming they are well skilled and motivated to sell. let this person do what they do best and not bog them down with details and burdensome paperwork. Place Finders into positions such as Business Development Officer and outside calling. Get them an assistant for the paperwork or hand it off to a Minder.
2. MINDERS are good at managing the relationship
Minders are relationship builders and good at keeping the customers or members happy. She’s a people person and enjoys customer service, solving customer problems and follow up activities. The minder is committed to client satisfaction and considers ongoing service part of the sale (whereas a Finder just wants to get onto the next sale). Minders are also good at administrative tasks and coordinating efforts of the Finders.
Her goal is not the conquest of the sale, but forging mutually beneficial long-term relationships. Although a Minder will not usually generate as much business as a Finder, they are excellent at generating add-on business from existing clients. They are good at member or customer relationship management making them excellent banking relationship managers.
Recommendation: Place Minders into positions such as Relationship Managers and Customer Service Rep. Let the Finder get the new business and then turn the account over to the Minder to solidify the relationship.
3. GRINDERS are good at managing the paperwork
A Grinder thrives on detail and accuracy, doesn’t mind paperwork and doesn’t need much people interaction. A Grinder has neither the Finder’s flair nor the minder’s service personality and is not a good candidate for the type of sales your bank or credit union requires. They fear putting themselves out there only to get rejected but are happy to do the paperwork.
Recommendation: Let them team up with the Finders and/or the Minders to support their efforts. Remember that without Grinders, Finders and Minders would not be able to reach peak performance.
Why you may be hindering staff sales performance
Banks and credit unions have their biggest need for Minders. However, management causes themselves and some of their staff grief because they expect their Minders to become enthusiastic Finders and their Grinders to be Minders when it’s not really in their DNA. By expecting all your front line staff to fit a mold they’re not well-suited for keeps them from focusing on their unique abilities and drives down performance. We suggest you ask your staff what they enjoy doing most and consider moving some people into different slots. One organization we’re aware of created teams with team goals composed of the three types maximizing the abilities of all. It worked very well.
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