How to Increase the Productivity of Financial Services Sales Representatives

Selling financial products and services is essential to the survival of financial institutions, and figuring out how to increase the productivity of financial services sales reps is essential for profit maximization. 

Technology makes it possible to manage reps and draw detailed reports that help assess the performance of sales reps.

Mobile apps have the capability to capture data from the phones of their reps and display reports that nudge them to perform better. 

They also help to automate tasks and provide customer insight that can help you expand your business. Field sales monitoring apps like CloudApper SalesQ can help increase the productivity of financial services sales reps.

Ways to Increase the Productivity of Financial Services Sales Representatives

Customized apps can help increase the productivity of your financial services sales reps to almost double. It can be achieved in the following ways:

Real-Time Communication

Sales reps can be managed well by managers who view insights collected from the field and use their knowledge to provide directions directly to the mobile phones of reps. 

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This helps sales reps to target and perform better, increasing sales productivity. SalesQ allows the real-time sharing of strategy and training modules for sales reps to perform better.

Track Targets

Setting targets and measuring their achievement to report findings can help financial service sales reps to perform better. Targets should be meticulously tracked by managers to ensure that performance standards are being met and exceeded.

If a sales rep is lagging in terms of performance, they can be counseled to improve their performance.

Integrate Financial Apps

ERPs help a great deal in dealing with essential accounting information. ERPs can be cumbersome for financial services sales reps to handle, but it is vital to their job description.

 You can provide sales reps access to Accounting ERPs like OMNI and Sage200 by integrating them with SalesQ. This can help streamline the financial selling process and increase the productivity of financial services sales reps.

Authenticate Client Visits

Financial services sales visits should be authenticated to ensure reps are present on location in time, so essential deals go through. Customers these days are very sensitive to time, and timely visits can make or break a deal, especially with the presence of numerous competitors. 

Gone are the days when reporting of reps was the only way to log visits. Geo-fencing technology lets reps check-in only from assigned areas through mobile apps.

Leverage Analytics

Analytics can help you measure and improve sales performance by tracking essential sales metrics. Data like customers who are key to the businesses can help in better targeting in order to generate more revenues. 

SalesQ allows you to find latent insights and trends in sales data through interactive dashboards. This makes it easier to increase the productivity of financial sales reps.

Summary

Using the right tools can help you increase the productivity of financial services sales reps and increase business revenue. Routine measurement of target achievement, communication of strategies, and overall performance monitoring can help sales reps in financial selling. 

CloudApper SalesQ is a field sales monitoring app that can help increase the productivity of financial sales reps. Sign up for a 14-day free trial now.

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