Maximizing Gains & Adapting to Change
Digital Platforms are Driving Sales & Coverage Realignment
The banking industry faces enormous change in the age of digitization. These technologies have helped them evolve and innovate exponentially, creating a high potential for gains for B2B bank relationships and retail banking.
Digital platforms facilitate faster sales cycle times and drive coverage realignments for customer-facing roles. However, coverage models now include new virtual client and prospect interactions. As a result, performance expectations, goals and traditional incentive plans that drive these new required behaviors must be intelligently modified.
Alexander Group helps financial Industry clients develop the strategy, structure and sales organizations that drive growth and align with business objectives.
How We Help
- Determine the strategic, structural and management levers critical for profitable revenue growth: Prioritize customers in each segment to identify the most profitable market segments and the most effective strategies to target those segments.
- Establish the optimal organizational structure across segments, including complex teams: An efficiently functioning organizational structure will meet customers’ demands to improve communication, maximize performance and increase efficiency.
- Define the roles, tools and enablement that are needed for digital channels: Having a robust digital channel is critical for success. Start by defining the roles, tools and enablement needed for digital channel efficiency, including providing enhanced CX and reaching a wider audience.
- Determine how many commercial resources are required to stay competitive: Organizations should evaluate the efficiency and effectiveness of their commercial resources. In addition, they need to determine the correct number of resources necessary to win against the competition or launch a new product.
- Ensure goals and incentive compensation plans align with sales strategy and best practices: Align strategy, goals and compensation plans to ensure your sales teams are motivated and driven to succeed. Best practices and industry benchmarks provide guideposts to develop your sales compensation program.
Related Insights
Participate in Our Research
Open Opportunities Briefing Offers- Banking: Go-to-Market Trends and Initiatives From the Alexander Group’s 2022 Banking Industry Study, the data shows that there is a consensus on go-to-market priorities. Explore the highlights from these findings and get the benchmarks in this comprehensive briefing.
- Digital Go-to-Customer Study Discover the industry trends, insights and frameworks on the digital impact on revenue growth, as well as recommendations for increased sales performance and growth in a digital environment.
- Digital Insights Study Digital means changing how companies engage with customers and enable their commercial teams. Determining where and when your customers interact with your products and solutions can impact your organization’s digital maturity and where to guide your investments.
- Insurance: Evolving Sales Models for Growth Leaders of 60+ major insurance carriers provided their insights on capturing market share in an increasingly digitized industry. Discover the latest growth and compensation trends.
- Marketing Insights Study Over 150 marketing executives were interviewed to determine the marketing initiatives being prioritized to maximize customer lifetime value. From marketing roles and resource allocation to marketing mix, channels and spend, get the latest insights on where marketing leaders are investing to advance their organization’s marketing maturity.
- Revenue Operations Survey Over 200 executives in sales and revenue operations were surveyed across Business Services, Financial Services, Manufacturing and Distribution, MedTech, Health and Wellness, Media and Technology to determine the leading practices of world-class revenue operations organizations.
- Sales Compensation Hot Topics Survey Over 350 sales compensation leaders across seven industries provided insights on key sales comp topics including costs, quota planning and attainment, profitability, AI’s impact on comp, global comp practices, marketing comp practices and client/deliver services comp practices.
- Shifting Demand Generation Investments for Top Performance With macroeconomic factors and profitability pressure on the rise, firms today face the dilemma of allocating limited resources between different channels and initiatives. Determining the most effective and efficient investment strategy requires careful analysis and understanding of target markets, customer preferences and staying ahead of the curve with industry best practices.
- Talent Management Strategies to Enhance Customer Experience Financial services companies that invest more in their employee engagement programs realize a 20% uplift in how their customers rate interactions with their commercial team. Leaders achieving profitable growth have developed effective strategies to support employee engagement programs. Discover the five principles these firms have implemented to enhance their talent management strategies.
Upcoming Financial Services Events
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EMEA Sales Comp Community: The Last Mile: Ensure Your Sales Compensation Programme is Set Up for Success
Virtual RoundtableAs we head into 2024, ensure your sales compensation programme’s strategy and structure are in place to successfully measure, track and manage for constant improvement.
• Costing Modelling: How to make sure changes to your compensation programme won’t break your budget.
• Manager Training: Leveraging first line managers to champion new plan designs.
• Plan Communication: Tools to simplify what sellers need to know about their sales compensation plan.-
Wednesday, December 6, 2023
2:00 p.m. – 3:00 p.m. BST -
Virtual
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Precision Pricing: Unlocking Profit to Outperform Competitors Series
WebinarSession 3 | Cost-Plus Pricing: Stop Leaving Money on the Table
Intuitively, using cost-plus to set pricing would allow organizations to keep pace with inflation and ensure long-term financial viability. Yet, more than half of B2B organizations failed to keep pace with inflation in this past year. In this webinar, Avy Punwasee of Revenue Management Labs and Kyle Uebelhor of Alexander Group will outline how using value-based pricing in place of cost-plus is essential to commercial success.
Key Takeaways:
– Cost-based pricing versus value-based pricing
– Unlocking customer value and willingness to pay
– Understand the competitive landscape and how that will impact pricing decisions
– Determining the true financial value of your offering
– Change management considerations when migrating to a value-based approach-
Tuesday, December 12, 2023
2:00 p.m. – 2:30 p.m. ET -
Virtual
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Join our Banking Community
Alexander Group’s community enables leading executives to share insights and takeaways for immediate use. Participants engage with sales leaders in interactive discussions while gaining knowledge on best practices, pitfalls and challenges.
Practice Leadership
Alexander Group Can Help
Is your go-to-market strategy focused on sales productivity to ensure profitable growth?