Developing Centers of Influence Get Out of the Cold Calling Business Those people, organizations or associations that are in contact with your top 33% So many salespeople and sales managers tell us that they want us to work with them on closing more business. They want us to start with focusing on closing techniques ore presentation skills. It is the wrong end of the problem. More times than not, the problem with not closing accounts starts at the beginning. The very first call. So today during our session, we will help you understand how to more effectively get the most out of your very first appointment. Develop COIs ©ACTGLLC 2013 - 2018

Good, Bad & Ugly Did you know? According to a recent Baylor University study, 75% of Business Owners will not answer the phone call of a person they do not know. Develop COIs ©ACTGLLC 2013 - 2018

What is a COI? Developing COIs Why or Why Not? A Systematic Approach Execution Keys to Success Sales Practice Action Plans Developing COIs Why or Why Not? A Systematic Approach Execution The Keys to Success Develop COIs ©ACTGLLC 2013 - 2018

A COI Strategy Won’t Work if You: Have plenty of prospects and revenue Won’t make it a daily priority Have no system for success Why (When) COIs Don’t Work If you : Have plenty of traffic and can’t get out on calls Have plenty of prospects and revenue Have no system for success Have no time, money or resources to devote Lack patience and consistency Centers of influence or developing centers of influence isn’t for everybody. I’ve seen salespeople attempt to implement a center of influence marketing strategy, only to fail and fail miserably. And typically they are for the following reasons. They did not have a system to succeed. Just like any other successful marketing process, you need to have a system assist for identifying who you are talking to and how often you are talking to them. What type of goals do you have and what is your system to track your success? All of these systems and processes need to be in place in order for you to succeed. If you don’t have the time to devote to this type of program. And in this instance, you probably need to devote at least 25% of your total prospecting effort to developing centers of influence, if you’re going to be successful. If you don’t have that time, then don’t start. YOU have to commit to getting out of the Branch consistently and with a plan for nothing to get in the way of your small business prospecting efforts. Certainly, pulling together materials, developing a strategy that requires consistent mail or e-mail or calls requires an investment of your time and others. If you already have play of prospects, this won’t work. As a HOLT branch however, you already know this is not the case. Lack patience and consistency Develop COIs ©ACTGLLC 2013 - 2018

COI Defined A person of influence CPAs Attorneys Business Brokers & Consultants Other Financial Advisors– Mortgage Bankers, Wealth Advisors, etc. Local Small Business Owners Generally speaking we can define a COI as someone of influence. Typically the COIs we would like to work with are other professional / trusted advisors. In our space we want to talk with those people that have influence in our target market – small business. What are some of the ways you could go about meeting some of the professionals you see listed here? Gain interaction and ideas. Best answer – talk to our current business banking clients and ask them who their other trusted advisors are… Develop COIs ©ACTGLLC 2013 - 2018

The Entrepreneurial Attitude Growing our bank is ‘my own business’ – I own it I am the brand in this market I have the responsibility for building and communicating our Value Proposition I cannot rely on my/our existing book for growth I have to focus on external sources for business A successful strategy of any sort starts with the real estate between your ears. As an ARL or branch manager you must have an entrepreneurial attitude. What does that mean? These are our ideas on the screen. What are yours? Define your entrepreneurial attitude. Keys to listen for: Ownership of outcomes. Passion to be successful. The buck stops here. My life, financial well-being depends on my successful execution of a sales generation and sales growth strategy. I cannot depend on ‘others’ to hand the strategy to me or execute it for me. Develop COIs ©ACTGLLC 2013 - 2018

Your COL Workplan Have a systematic approach Your approach/pitch Materials Communication information and methods Survey – why they do what they do, why they might do this Follow through Goals & Inspection Develop COIs ©ACTGLLC 2013 - 2018

Rules for Developing an Effective USA Don’t Look Like Everyone Else: NO ONE OFFERS: High Cost Terrible Service Lack of Expertise Rules for Developing an Effective ‘USA’ Don’t look, act or sound like everyone else What would your reaction be if you received your phone call? Would it cause you to say or think: How do you do that? Tell me more. That’s me! Ok so they know this part and have seen it many times. Have them share their usa’s and ask if they have had the salespeople share it with them. Realize that the usa for a coi will be somewhat different than for a prospect directly. Develop COIs ©ACTGLLC 2013 - 2018

Develop Your USA “Essentially what I do Lisa is “I provide buckets of money to mid-size companies. “I’m there with the right amount of money at the right price when they need it the most” Develop Your COI USA Your Unique Sales Approach (USA), elevator talk, the reason people do business with you Now it’s important that in your approach with the center of influence that you have a unique selling approach or what we call the USA. Developing a unique selling approach requires that you identify what is your product or service. Certainly could be insurance, could be banking, could be real estate could be manufacturing widgets. Whatever it is in your USA, which you must be able to do is describe why your product or service is needed. In other words, what is the benefit that your clients derive from purchasing your product or service, and last but not least, what is the benefit derived from working with you. As an example in our business. We tell people that we help companies drive consistent and predictable sales results. Shortly what we do can be called sales training, it can be called business consulting, it can be called professional coaching. But in the end, what someone wants to know is, what impact do we have on a client’s results. Specifically, sales results. Says you describe what you do to a center of influence or potential suburban flows you need to be a describe what it is. That gets done as result of being a trusted advisor or using you for having you as a trusted advisor. If you need more information on this particular topic. Contact us for our information on prospecting Call on some people to share their USA specifically for COIs “Generally speaking I’m looking to serve high net worth individuals and families who are looking to have a relationship with a financial institution that is more than a place to get money or put money.” Develop COIs ©ACTGLLC 2013 - 2018

Develop Your COI USA Call __________________________________________________ Based on work from previous page have everyone take 15 minutes and write their USA – have them work in groups when possible to share what they have written. In a web based deliverable you will have to call on people and then ask others for feedback. Gain agreement that all of them will work and practice their COI USA over the next 30 days. Get a commitment for usage, documenting the outcomes of conversations. Develop COIs ©ACTGLLC 2013 - 2018

Every client has potential of at least 3 COIs! Getting Started Call your current clients Ask to be introduced to their other trusted advisors “As your Banking Advisor, I have found that it makes sense for me to be on the same page as the other professionals that work closely with you so that I have a holistic understanding of your business and personal needs. I’d like to ask you to introduce me to your other advisors so that they have some knowledge of the work that we’ve done together as well as to ensure that they are comfortable contacting me as a source of information. How does that sound?” Do you have a legal advisor? Who is your accountant? Can you think of other advisors that it would make sense that I connect with? Use a similar approach at seminars, associations, groups, networks etc. DRILL FOR SKILL. GO AROUND THE ROOM AND GET THEM TO REPEAT AND REFINE THIS APPROACH TO THEIR STYLE. Have them think about and discuss how they will use this approach at networking events, conferences, etc. “As your Banking Advisor, I have found that it makes sense for me to be on the same page as the other professionals that work closely with you so that I have a holistic understanding of your business and personal needs. I’d like to ask you to introduce me to your other advisors so that they have some knowledge of the work that we’ve done together as well as to ensure that they are comfortable contacting me as a source of information. How does that sound?” Do you have a legal advisor? Who is your accountant? Can you think of other advisors that it would make sense that I connect with? Every client has potential of at least 3 COIs! Develop COIs ©ACTGLLC 2013 - 2018

Calling a Potential COI Greeting Segue Positioning Statement Two Examples Discussion & Drill Down Close for the Appointment Calling a Potential COI Hi, Joe. This is Tony Cole. Segue, May I tell you why I called? Positioning Statement I’m working with one of your clients, Joe Smith, and he suggested that I call you. The reason that Joe asked me to call is that… Two Examples : Joe, like many of my clients, has problems with: Planning effectively for the transition of their business, and Making sure that their trusted advisors are on the same page. Discussion & Drill Down: When I discussed this with Joe, he said it was very important that his plan and our efforts were coordinated. What I don’t know is… Close for the Appointment: May I make a suggestion? Get invited. I am contacting you in follow up to the call that you recently received from our mutual client Jones. Jones had concerns about his finances and making sure he had a solid plan for a rainy day.  We worked together to create solutions that allow him to sleep better at night knowing that his future is secure.  Would it be helpful to you to review our relationships with Jones and how our services might work together for the benefit of client Jones? Can I make a suggestion? Invite me out to your office… Develop COIs ©ACTGLLC 2013 - 2018

The Advisor to Advisor Interview Glad we could find time to get together. When we spoke on the phone… Tell me more… Tell me the story of how you started and grew your business. What challenges do you face in growing your business? How do you see us working together? The Advisor Interview Thanks for inviting me. ‘When we talked on the phone..’ Tell me more… Find compelling reasons to take action Attach value to solving the problem and create urgency Ask questions relative to their business. Ask questions to understand the types of clients they work with and how they typically deal with their clients Agree to a process to move forward with clear expectations Information flow Regular meetings How do you go about growing your practice? What has been the best way for you to acquire new business? What is your client retention strategy and how well does it work? What does their typical client look like? Develop COIs ©ACTGLLC 2013 - 2018

It’s All About Them - the ‘Informal’ Survey What does their typical client look like? What type of information would you like to receive on a regular basis to help you stay informed about the banking business? What topics would be beneficial to you or your clients in a seminar? I want to ‘apply’ for the job of being your banking advisor. When you or your clients need information about banking, I want to be the first person you call. This is an advisor to advisor discussion. Don’t pull up and dump your goods! Goal is to understand their business, how they work with their clients and see how you might be additive. Financial wellness advisor? Be mindful of privacy issues if you talk about your current clients and how you help them. Develop COIs ©ACTGLLC 2013 - 2018

Growing the COI Relationship Send thank you letter Follow up with a call to outline process to work together Meet regularly to inform COI Look for introductions for them Once a relationship is established, you will earn introductions to their clients Execute & Inspect the Execution Send letter Follow up with a call to outline process Additional information Survey Phone call to find out if it makes sense to continue Meetings – first 2 to 3 Semi-annual, maybe quarterly, informative for the COI, not focused on getting names Subsequent meetings Informative Start to ask for introductions Develop COIs ©ACTGLLC 2013 - 2018

What You Can Expect Fatigue Slow process Limited success at first Skepticism Get out of the cold call business What You Can Expect: Fatigue Slow process Limited success at first – maybe 2 in the first year Skepticism Get out of the cold call business Develop COIs ©ACTGLLC 2013 - 2018

The Keys to Success Don’t be in a hurry Don’t ask for names at first meeting Have ongoing, relevant information exchanges Be a problem solver for them Don’t be in a hurry Don’t ask for names in the first meeting Provide tons of information that is important to them Have a pro-active information flow process Have an ‘ad hoc’ information flow process Be a problem solver for them Develop COIs ©ACTGLLC 2013 - 2018

Activity and Skill Focus Objective and Outcomes Sales Practice Forum Activity and Skill Focus Objective and Outcomes My Action Items Break into groups of 3 and take turns role playing as RM, COI prospect and observer/timekeeper Each person should develop and share their COI introduction USA (page 10) and gain input Then each should take turns role playing the initial phone call and meeting with a targeted COI. Each participant should then develop their short list of COIs to target prior to leaving the session. (next page) Use real cases wherever possible. Group will reconvene and share observations and best practices. Create a COI strategy (if it makes sense) and master the phone dialog and first meeting conversation to build relationships with targeted COIs. Develop COIs ©ACTGLLC 2013 - 2018

COI Target List Clients/Names that I will Call to Gain COI Names Date Called & Meeting Dates Results 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. For every manager to take back to use with their folks. Develop COIs ©ACTGLLC 2013 - 2018

MAP: My Action Plans Action Items Next Step By When? 1. 2. 3. Develop COIs ©ACTGLLC 2013 - 2018