CBA Retail Sales and Service Effectiveness Study CBA's Retail Sales and Service Effectiveness Study, conducted by KPMG Consulting, offers many insights into areas for improvements. The study is the first of a multi-year effort to identify best sales and service practices employed today, discover emergent trends in these practices, and provide insight to retail banks seeking improvements. The components of sales programs at 50 banks were examined. Among broad findings, the study suggests that most banks do not have a sufficient grasp of profitability measurements and are not able to deliver such information to the sales force to measurably deliver more profitable products to the right customers. The study identifies wide differences among banks in their approach to sales, and points to areas for improvement.
Specialists are typically investment or insurance brokers or small business reps.
Different sales positions, especially branch managers, are most likely to be recruited from other banks, rather than from non-banks. Training is a key factor in sales success, and varies from two to 20 days, depending on the position. While branch managers and call center reps get the most, telemarketing and specialist positions get the least. Bank sales staff spend nearly 40 hours annually on both 'individual planning' and 'sales coaching,' usually at least once a week. However, competitive intelligence, marketing updates and product training are infrequently conducted, the study found.