Building Treasury Titans - Sales

Leveraging Modern Sales Techniques to Sell Treasury Management Services to business customers requires more than just presenting features and benefits. This is the sixth blog in our series, and we are focusing on Building Treasury Titans – Sales. Traditional sales tactics fall short when customers expect tailored solutions, deeper insights, and a partner who understands their unique business challenges. Your Treasury Management (TM) team must adopt modern sales techniques that focus on relationship-building, consultative selling, and value-driven communication.

Using up-to-date sales methods not only helps establish your TM team as trusted advisors but also drives better results and deeper customer loyalty. Here’s how modern sales techniques can help your team excel in selling TM services.

Understanding the Consultative Sales Approach

Consultative selling is all about focusing on the customer’s needs rather than just pushing services. This technique positions your TM team as problem-solvers and strategic partners who take the time to understand each business’s challenges and objectives.

• Focus on Discovery: Start by thoroughly understanding the customer’s financial landscape and goals. Ask questions that dig into their needs, from cash flow challenges to risk management concerns. This approach not only uncovers opportunities but also demonstrates your commitment to truly understanding their business.
• Offer Tailored Solutions: Once you understand their needs, present TM solutions as tailored answers to specific problems. For instance, if a customer struggles with check fraud, offer a positive pay solution that directly addresses this issue. Customizing your offerings based on the customer’s unique challenges builds trust and positions your team as valuable advisors.

Educate Rather Than Sell

Modern customers are often wary of traditional sales pitches. Instead, they prefer educational interactions that empower them to make informed decisions. If your Treasury Management team adopts an educational sales approach, it can foster a deeper connection with customers.

• Provide Insights on Industry Trends: Stay up to date with financial industry trends and proactively share relevant insights with customers. If new regulations or financial technologies could impact their business, make sure your team is ready to discuss how these changes affect their operations and how TM solutions can provide support.
• Hold Informational Sessions: Host webinars or in-person events where customers can learn about topics like cash flow optimization, fraud prevention, or risk management. When your TM team acts as a source of valuable information, customers see them as a go-to resource rather than just a service provider.

Embrace Digital and Social Selling Techniques

By embracing digital and social selling techniques, your TM team can reach potential customers more effectively and stay top-of-mind with existing ones.

• Use LinkedIn for Networking and Engagement: LinkedIn is a powerful tool for Treasury Management professionals to connect with potential customers, share industry insights, and showcase their expertise. Regularly posting updates, commenting on relevant posts, and joining industry groups can increase your team’s visibility and credibility.
• Automate Follow-ups and Engagement: Digital tools like CRM software allow your team to automate follow-ups, track customer interactions, and maintain consistent communication.

Highlight Value Over Features

Customers are more interested in understanding how TM solutions can create real value for their business rather than hearing a rundown of features. A modern sales approach focuses on demonstrating value and making it related to the customer’s goals.

• Speak to the Customer’s Business Impact: When discussing TM services, focus on outcomes like cost savings, risk mitigation, and operational efficiency. If you’re introducing a payment processing solution, explain how it can reduce fraud risk or improve cash flow -specific benefits that matter to the customer.
• Share Success Stories: Illustrate the value of your TM services by sharing examples of how similar customers have benefited. Brief case studies or success stories make the impact of your solutions concrete, helping customers visualize how your team can support their business.

Build Long-Term Relationships Through Follow-Up and Support

Modern sales techniques prioritize building relationships over closing quick deals. This approach is particularly relevant in Treasury Management, where long-term customer relationships lead to loyalty, referrals, and upsell opportunities.

• Maintain Regular Contact: Keep customers informed of new products or services that may benefit them, even after the initial sale. Regular touchpoints, like quarterly business reviews, allow your team to address evolving needs and stay in sync with the customer’s goals.
• Offer Ongoing Support and Guidance: Treasury Management services can be complex, and customers often need support beyond implementation. Encourage your team to provide resources, guidance, and hands-on support whenever needed. This proactive approach fosters trust and ensures customers view your TM team as essential partners in their success.

By adopting a consultative approach, focusing on education, leveraging digital tools, and highlighting value, your TM team can move from traditional selling to becoming trusted advisors who provide tangible value.