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Strategies To Increase Your Commercial Bank Sales & Profitability

By henry sheykin, resources on commercial bank.

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Welcome to this blog post on strategies to increase your commercial bank sales and profitability. In an increasingly competitive market, it is vital for banks to adopt effective strategies that can drive growth and improve the bottom line. According to the latest statistical information, the commercial banking industry is experiencing steady growth, making it an opportune time to implement innovative approaches. In this article, we will explore some of the most impactful strategies that will help you boost sales and enhance profitability in your commercial banking operations. So, let’s delve into the details and uncover the strategies that can propel your bank to new heights.

Target Niche Markets

When it comes to increasing sales and profitability for your commercial bank, one strategy that can have a significant impact is targeting niche markets. Rather than trying to serve a broad customer base, focusing on specific customer segments allows you to tailor your products and services to meet their unique needs and preferences.

Tips and Tricks:

  • Conduct market research to identify niche markets that are underserved or have specific banking needs.
  • Develop customized products and services that cater to the requirements of your target niche markets.
  • Invest in targeted marketing campaigns to reach and attract customers from these niche markets.
  • Build partnerships and collaborations with organizations or influencers that have a strong presence in your target niche markets.

This strategic approach can have a significant impact on your sales and profitability. By focusing on niche markets, you position your bank as a specialized provider that understands and meets the unique needs of your target customers. This can result in higher customer satisfaction and loyalty, leading to increased sales and profitability.

For example, let's consider targeting the niche market of small business owners in the fashion industry. By understanding the specific financial challenges and requirements of fashion entrepreneurs, you can develop tailored banking solutions such as specialized business loans or cash flow management tools. By positioning your bank as the go-to financial partner for fashion businesses, you can attract a loyal customer base and increase sales.

Example Calculation:

Assume that by targeting the niche market of small business owners in the fashion industry, you are able to acquire 500 new customers within the first year, each with an average annual revenue of $100,000. If you offer a comprehensive range of banking solutions that generate an average fee income of 1% of their revenue, your projected additional fee income would be:

Total Additional Fee Income = 500 customers x $100,000 x 1% = $500,000 per year

This additional fee income directly contributes to the profitability of your bank and demonstrates the financial impact of successfully targeting niche markets.

Establish Strategic Partnerships

Strategic partnerships play a crucial role in the success of businesses, especially in the competitive commercial banking industry. By collaborating with complementary companies or organizations, Luminous Bank can unlock new opportunities, enhance its offerings, and ultimately drive sales and profitability. Here are some tips and tricks to establish effective strategic partnerships:

  • Identify Mutual Benefits: Before approaching potential partners, it is essential to identify the mutual benefits that can be gained from the collaboration. Consider how partnering with another organization can enhance Luminous Bank's product offerings, reach a wider customer base, or improve operational efficiencies.
  • Research and Select Criteria: Conduct thorough research to identify potential partners that align with Luminous Bank's goals and values. Consider factors such as their reputation, expertise, customer base, and existing partnerships. Establish clear criteria for selecting partners to ensure compatibility and maximize the chances of success.
  • Nurture Relationships: Building and nurturing relationships with potential partners is crucial in establishing strong strategic partnerships. Initiate conversations, attend industry events, and leverage networking opportunities to create meaningful connections. Demonstrate the value that Luminous Bank can bring to the partnership and showcase how collaboration can benefit both parties.
  • Create Win-Win Agreements: When structuring partnership agreements, it is important to create win-win scenarios. Clearly define mutual goals, expectations, and responsibilities. Consider factors such as revenue sharing, resource allocation, and decision-making processes. The agreement should reflect the shared vision and ensure that both parties benefit from the partnership.
  • Measure and Adapt: Once strategic partnerships are established, it is vital to continuously monitor and evaluate their impact on sales and profits. Establish key performance indicators (KPIs) and regularly assess the effectiveness of the collaboration. Adjust strategies and tactics as needed to optimize results and capitalize on new opportunities.

By establishing strategic partnerships, Luminous Bank can leverage the strengths and resources of its partners to enhance its product offerings, expand its customer base, and drive sales and profitability. Let's consider an example calculation to illustrate the potential impact:

Assuming Luminous Bank partners with a fintech company specializing in digital payment solutions, the collaboration can enable the bank to offer innovative payment methods to its customers. Let's say this partnership results in attracting an additional 10,000 customers in the first year, each having an average transaction volume of $1,000 per month. This would result in an additional $120 million in transaction volumes annually.

Considering a conservative transaction fee of 1% charged by Luminous Bank, the partnership could generate an estimated $1.2 million in additional transaction fee revenue per year. Moreover, the enhanced customer experience and expanded offerings may lead to increased customer loyalty and cross-selling opportunities, further boosting overall sales and profitability.

In conclusion, establishing strategic partnerships can significantly impact Luminous Bank's sales and profitability by expanding its offerings, reaching a broader customer base, and unlocking new revenue streams. By following the tips and tricks mentioned above, Luminous Bank can foster successful collaborations that pave the way for sustainable growth and success in the commercial banking industry.

Enhance customer experience

In today's competitive banking industry, providing an exceptional customer experience is crucial to the success and profitability of any bank, including Luminous Bank. By focusing on enhancing the customer experience, we can build long-term relationships, drive customer loyalty, and ultimately increase sales and profits.

  • Personalized services: Offering personalized services tailored to the unique needs of our customers is a key strategy to enhance their experience. By understanding their financial goals and preferences, we can provide tailored solutions that meet their specific needs. This can include personalized investment advice, customized loan options, or targeted promotions based on their transaction history.
  • Convenience: Providing convenience through various channels is another important aspect of enhancing the customer experience. This includes offering flexible banking hours, convenient branch locations, user-friendly online and mobile banking platforms, and quick and efficient customer service. By making banking easy and accessible, we can attract and retain customers.
  • Security: Ensuring the security of our customers' financial information and transactions is paramount. Implementing robust security measures, such as multi-factor authentication, encryption, and fraud detection systems, will create a sense of trust and confidence among our customers.
  • Continuous improvement: Regularly seeking customer feedback and actively engaging with our customers will enable us to identify areas for improvement and implement necessary changes. By continuously enhancing our products, services, and processes based on customer input, we can stay ahead of the competition and better meet the needs of our customers.

The strategy of enhancing the customer experience will have a direct impact on sales and profitability for Luminous Bank. By providing personalized services, convenience, and security, we will not only attract new customers but also retain existing ones, thereby increasing customer loyalty and satisfaction. Satisfied customers are more likely to utilize additional banking services, such as loans, credit cards, and investments, leading to increased revenue and profitability.

To illustrate the impact, let's consider the example calculation:

Suppose Luminous Bank successfully enhances its customer experience, resulting in a 10% increase in customer retention rate and a 15% increase in customer referrals. If the average customer brings in $1,000 in annual profit for the bank, and there are 10,000 customers, the calculation would be as follows:

Current annual profit: $1,000/customer x 10,000 customers = $10,000,000

Improved annual profit with enhanced customer experience:

New customer retention rate: 10% increase = 10000 customers x 10% = 1000 additional retained customers

New customer referrals: 15% increase = 10000 customers x 15% = 1500 additional referred customers

Total additional customers: 1000 + 1500 = 2500

Improved annual profit: ($1,000 x 2500) + $10,000,000 = $12,500,000

This calculation demonstrates that by enhancing the customer experience and increasing customer retention and referrals, Luminous Bank can achieve an increase in annual profit from $10,000,000 to $12,500,000.

Offer competitive interest rates

One effective strategy to increase sales and profitability for Luminous Bank is to offer competitive interest rates on our financial products, particularly on our savings accounts and loans. By providing rates that are higher than those offered by our competitors, we can attract more customers and encourage existing ones to choose us over other banks.

Impact on sales: When customers see that Luminous Bank offers higher interest rates on their savings accounts, they will be more inclined to deposit their money with us. This can lead to an increase in the number of account holders and subsequently, a rise in sales. Moreover, by offering better rates on loans, we can attract customers who are looking for affordable financing options. This can result in a boost in loan applications and approvals.

Impact on profitability: While offering competitive interest rates may seem like we are giving away profits, it actually has the potential to enhance our profitability in the long run. By attracting a larger customer base, we can increase the amount of funds held at Luminous Bank, allowing us to generate more interest income. Additionally, loan interest charges can contribute to our revenue stream. It's important, however, to carefully manage the balance between offering competitive rates and ensuring our profitability isn't compromised.

Example calculation:

  • Assuming a savings account balance of $10,000
  • Competitor A offers an interest rate of 0.5%
  • Competitor B offers an interest rate of 0.75%
  • Luminous Bank offers an interest rate of 1%

In this scenario, if a customer chooses Luminous Bank over competitors A and B, they would earn $100 in interest over a year, compared to $50 with competitor A and $75 with competitor B. This example illustrates the potential benefit of our competitive interest rates.

By strategically implementing competitive interest rates, Luminous Bank can attract more customers, increase sales, and ultimately drive profitability. By offering rates that outshine our competitors, we position ourselves as an attractive banking option for individuals and businesses, ensuring long-term growth and success for our venture.

Implement effective marketing campaigns

When it comes to increasing commercial bank sales and profitability, implementing effective marketing campaigns is crucial. Such campaigns not only help raise awareness about the bank's products and services, but they also drive customer acquisition and retention.

Here are some tips and tricks to make your marketing campaigns successful:

  • Define your target audience: Before launching any campaign, it's essential to identify your target audience. Understanding the demographics, behaviors, and preferences of your potential customers will help tailor your marketing messages and strategies accordingly.
  • Create compelling content: Engage your audience with well-crafted content that highlights the unique features and benefits of your bank's products and services. Use persuasive language and storytelling techniques to capture their attention and convince them to choose your bank over competitors.
  • Utilize various marketing channels: Don't limit yourself to a single marketing channel. In today's digital era, it's important to have a multi-channel approach. Explore online platforms such as social media, email marketing, search engine optimization, and content marketing to reach a wider audience and maximize your campaign's impact.
  • Personalize your marketing: Tailor your marketing messages to resonate with different segments of your target audience. Utilize customer data to personalize your communication, offers, and promotions. This personalized approach enhances the customer experience and increases the chances of conversion.
  • Measure and analyze campaign performance: Implement tracking mechanisms to measure the effectiveness of your marketing campaigns. Monitor key performance indicators such as click-through rates, conversion rates, and customer acquisition costs. This data will provide valuable insights into what's working and what needs improvement, enabling you to optimize your strategies accordingly.

Implementing effective marketing campaigns has a significant impact on both sales and profitability. A well-executed campaign can lead to increased brand visibility, customer engagement, and ultimately, higher sales volumes. Additionally, it can drive customer loyalty and retention, reducing customer churn and increasing profitability through repeated business and cross-selling opportunities.

Let's take a hypothetical example to demonstrate the impact of a marketing campaign on sales and profits. Suppose Luminous Bank decides to launch a targeted social media campaign to promote its latest credit card offering. The campaign costs $50,000 and reaches a potential audience of 500,000 individuals. Due to the campaign's compelling messaging and personalized approach, 5% of the targeted audience converts and becomes new credit cardholders.

Considering an average annual spend of $5,000 per credit cardholder, the campaign successfully acquires 25,000 new customers. If the annual fee for the credit card is $50 and the variable costs per customer are $20, the bank would generate $1,250,000 in annual revenue ($50 x 25,000). Deducting the variable costs, the bank would still have a profit contribution of $750,000 ($30 x 25,000).

This example illustrates how an effective marketing campaign can lead to substantial sales growth and profitability, making it a crucial strategy for commercial banks seeking sustainable success.

Expand digital banking platforms

In today's rapidly advancing technological landscape, it is imperative for commercial banks to expand their digital banking platforms. With the increasing demand for convenience and accessibility, a robust online and mobile banking presence can significantly impact sales and profits.

Tips and tricks:

  • Emphasize user-friendly interfaces: Ensure that the digital banking platforms are intuitive, easy to navigate, and provide a seamless user experience. Customers should be able to perform various banking tasks effortlessly, such as checking account balances, transferring funds, and making payments.
  • Offer comprehensive features: Extend a wide range of features through the digital platforms to cater to diverse customer needs. Enable customers to open accounts, apply for loans, manage investments, and access financial advisory services online. This comprehensive approach enhances customer satisfaction and engagement.
  • Implement strong security measures: Address customer concerns regarding data security by implementing stringent security protocols. Utilize encryption technologies, multi-factor authentication, and regular security audits to protect customer information and prevent unauthorized access.
  • Personalize the digital experience: Leverage artificial intelligence and data analytics to offer personalized recommendations and tailored financial solutions. By understanding customer preferences and behavior, banks can enhance cross-selling opportunities and foster long-term relationships.
  • Stay ahead with innovation: Continuously invest in research and development to remain at the forefront of technological advancements. Explore emerging trends such as voice-assisted banking, biometric authentication, and blockchain-based solutions to provide cutting-edge services and maintain a competitive edge.

Impact on sales and profits:

By expanding digital banking platforms, commercial banks can reach a broader customer base and cater to their evolving needs. Offering convenient and accessible banking services increases customer acquisition and retention rates. As customers choose digital channels for their financial transactions, it reduces the operational costs associated with maintaining physical branches. This cost reduction directly contributes to improved profitability.

Assume that a bank currently has 100,000 customers and expands its digital banking platforms, resulting in a 20% increase in customer acquisition and a 10% decrease in branch-related expenses. If the bank's average annual revenue per customer is $500, the impact on sales and profits can be calculated as follows:

Impact on sales:

Additional customers acquired = 100,000 * 0.20 = 20,000

Additional revenue from new customers = 20,000 * $500 = $10,000,000

Impact on profits:

Branch-related expense reduction = 10% of current expenses

Total cost reduction = Current branch-related expenses * 0.10

Additional profit = Total cost reduction

Adding this additional revenue and profit to the bank's financial projections will contribute to its overall growth and drive towards profitability.

Provide personalized financial solutions

At Luminous Bank, we understand the importance of providing personalized financial solutions to our clients. It is crucial to tailor our products and services to meet the unique needs and goals of each individual and business.

Here are some tips and tricks to effectively provide personalized financial solutions:

  • 1. Understand the customer: Take the time to get to know your customers on a deeper level. Conduct thorough consultations, ask relevant questions, and actively listen to their needs and concerns. This will enable you to understand their financial situation, goals, and preferences.
  • 2. Offer customized products and services: Based on the information gathered, tailor your offerings to match the specific requirements of each client. This could involve recommending suitable savings accounts, loan options, investment tools, or financial advisory services.
  • 3. Provide expert guidance: Educate your clients about various financial options and guide them towards the best decisions for their circumstances. Be proactive in offering advice and updates that align with their financial goals.
  • 4. Regularly review and reassess: Financial needs and circumstances can change over time. Regularly check in with your clients to ensure their financial solutions remain relevant and provide ongoing support and recommendations.

Implementing a strategy to provide personalized financial solutions has a significant impact on sales and profits. When clients feel understood and supported, they are more likely to remain loyal and entrust their financial needs to your bank. This can lead to increased customer retention, referrals, and ultimately, higher sales.

Additionally, personalized financial solutions create opportunities for cross-selling and up-selling of relevant products and services. By consistently meeting the individual needs of your clients, you can potentially increase their engagement and the revenue generated from their accounts.

For example: Let's consider a client who initially opens a basic savings account with Luminous Bank. As the client's financial situation evolves, a personalized financial solution may involve offering them investment options tailored to their risk tolerance and long-term goals. This not only increases the client's satisfaction but also leads to potential fees generated from managing their investments.

In conclusion, prioritizing personalized financial solutions is crucial for driving sales and profitability. By understanding and catering to the unique needs of your clients, you can establish strong relationships, increase customer loyalty, and generate revenue through enhanced product offerings.

Streamline Operational Processes

Streamlining operational processes is a vital strategy for improving sales and profitability in a commercial bank. By optimizing the efficiency and effectiveness of day-to-day operations, banks can reduce costs, enhance customer experience, and ultimately drive revenue growth.

  • Automate Manual Tasks: Embracing automation technologies can significantly streamline operational processes. Tasks such as data entry, document verification, and transaction processing can be automated, minimizing errors and speeding up turnaround time.
  • Implement Robust Workflow Systems: A well-designed workflow system ensures seamless communication and coordination between different departments. It enables smooth handoffs and eliminates bottlenecks, leading to faster and more efficient operations.
  • Centralize Data Management: Inefficient data handling can hinder operational processes. By centralizing data management in a secure and accessible system, bank employees can retrieve and process information quickly, enabling faster decision-making and smoother transactions.
  • Standardize Processes: Standardizing processes across branches and departments enhances consistency and reduces errors. Clear guidelines and protocols should be established, ensuring that tasks are performed in a uniform manner, regardless of the location or team involved.
  • Invest in Training and Development: Well-trained employees are crucial for efficient operations. Providing regular training sessions and upskilling opportunities equips staff with the necessary knowledge and skills to perform tasks effectively and independently.
  • Monitor and Analyze Performance: Continuous monitoring and analysis of operational performance enable the identification of bottlenecks, inefficiencies, and areas for improvement. By leveraging data analytics, banks can make data-driven decisions to refine processes and maximize productivity.

Streamlining operational processes impacts sales and profitability in several ways. Firstly, it reduces the time taken to complete tasks, allowing employees to focus on revenue-generating activities such as client acquisition and relationship management.

Moreover, streamlined processes enhance customer experience. Swift and error-free transactions increase customer satisfaction, fostering loyalty and potential referrals. A seamless operational experience also minimizes the risk of customer attrition, further bolstering sales and profitability.

Let's consider an example calculation to demonstrate the potential impact of streamlining operational processes:

Assume a commercial bank currently spends an average of 5 minutes on manual data entry for each customer transaction. With 10,000 transactions per month, this results in 50,000 minutes (or 833.33 hours) spent on data entry alone.

By implementing an automated system that reduces data entry time to just 1 minute per transaction, the bank can save 40,000 minutes (or 666.67 hours) per month. This time can then be reallocated to revenue-generating activities, resulting in increased sales and profitability.

Focus on customer retention and loyalty

In today's competitive banking industry, it is essential for Luminous Bank to focus on customer retention and loyalty. By implementing effective strategies to keep our existing customers satisfied and engaged, we can not only strengthen our relationships but also increase our sales and profitability.

Tips and tricks for customer retention:

  • Provide exceptional customer service: Ensuring that our customers receive top-notch service at every touchpoint is crucial. This includes prompt responses to queries, personalized interactions, and proactive communication.
  • Offer loyalty programs: Implementing a well-designed loyalty program can incentivize customers to continue using our services and remain loyal. Rewarding them for their continued business with exclusive benefits and discounts can create a sense of exclusivity and enhance their loyalty.
  • Regularly solicit feedback: By actively seeking feedback from our customers, we can understand their needs and preferences better. This feedback can drive improvements to our products and services, making them more aligned with customer expectations.
  • Provide tailored solutions: Understanding our customers' financial goals and offering personalized solutions can significantly enhance their satisfaction. By utilizing data analytics and customer profiling, we can anticipate their needs and tailor our offerings accordingly.

Investing in customer retention and loyalty can have a profound impact on our sales and profitability. Here's an example calculation to illustrate this:

Let's assume that acquiring a new customer costs $200, including marketing expenses and onboarding costs. On the other hand, retaining an existing customer costs only $50, considering ongoing relationship management activities.

If we aim to acquire 100 new customers and have 500 existing customers, the cost of acquiring new customers would amount to $20,000, while retaining existing customers would only cost $25,000.

Now, let's consider the average revenue generated per customer. Assuming each customer contributes $500 in revenue annually, the 100 new customers would generate $50,000 in revenue, while the 500 existing customers would contribute $250,000 in revenue.

By focusing on customer retention, we can save significant costs and generate a higher revenue per customer. This ultimately leads to increased sales and profitability.

In order to enhance commercial bank sales and profitability, it is essential to implement effective strategies. By leveraging technology, embracing customer-centric approaches, and optimizing cross-selling opportunities, banks can significantly improve their performance. Investing in digital solutions can result in a 20% increase in sales, while personalized customer experiences can help generate 5-8 times higher revenue. Furthermore, a strong focus on cross-selling can lead to a 20-30% uptick in profitability. By adopting these key strategies, commercial banks can achieve sustainable growth and drive long-term success in a highly competitive industry.

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9 Banking Sales Strategies to Increase Profits


To succeed in banking, it’s crucial to have a strong sales strategy in place. Sales strategies are how a bank can increase its profits by acquiring new customers and growing business from current customers. 

Here are nine banking sales strategies that can help your business grow.

1. Develop a Banking Niche

Focus on a specific banking niche and develop sales strategies specifically for that market. This could be businesses in a specific industry, individuals with certain professions, or customers with particular financial needs. 

By understanding the needs of your target market, you can better tailor your products and services to them, making it more likely that they’ll do business with you.

2. Sell Banking Products and Services Online

In today’s digital world, it’s essential to have an online presence where potential customers can learn about your products and services. Many people research banking options online before deciding, so your bank must be visible in this space. You can sell banking products and services directly on your website or through online marketplaces.

3. Offer Free Banking Consultations

Offer potential customers a free consultation to discuss their banking needs. This is a great way to build trust and rapport with potential customers. During the consultation, you can get to know their needs better and identify their pain points with their current banking situation. You can then offer solutions that address their specific needs.

4. Use Banking Software to Automate Processes

Use banking software to automate repetitive tasks like customer onboarding or loan processing. This will free up your time to focus on selling and acquiring new customers. Automation can also help improve the accuracy of your banking records and make it easier to track sales metrics.

5. Provide Personalized Banking Services

Take the time to get to know your customers on a personal level. This could involve taking them out for coffee, getting lunch together, or simply conversing about their lives outside of banking. Building relationships with your customers will make them more likely to do business with you and recommend you to others.

6. Offer Unique Banking Products and Services

Stand out from the competition by offering unique banking products and services that cater to your target market’s needs. This could include special financing for businesses in a certain industry, custom debit cards, or exclusive access to certain banking products. By offering something that other banks don’t, you’ll make it more likely that customers will choose to do business with you.

7. Invest in Banking Technology

Stay ahead of the curve by investing in cutting-edge banking technology. This could include mobile banking apps, contactless payment solutions, or artificial intelligence-powered customer service chatbots. By investing in new technologies, you’ll be able to offer a better experience to your customers and stay ahead of your competition.

8. Focus on Customer Retention

Acquiring new customers is important, but it’s also essential to focus on retaining your existing customer base. This can be done by providing exceptional customer service, offering loyalty rewards, and regularly running promotions. Keeping your current customers happy will make them more likely to do business with you in the future and refer new customers to you.

9. Promote Banking Products and Services through Social Media

Use social media to promote your banking products and services to a wider audience. This could involve creating informative blog posts, sharing helpful infographics, or running social media ads. You can also use social media to engage with potential customers and build relationships with them.

Increase Profits as a Bank

Following these banking sales strategies can increase your chances of acquiring new customers and boosting your bank’s profits. Keep in mind that building relationships with potential customers takes time, so stay focused on your goals and continue working hard to provide the best banking experience for your customers.

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Featured Article

Enhance Your Bank's Sales and Marketing Initiatives: 5 Tips

Part three of a three part observation series

In  my last post  we examined a few ways that banks can elevate the role of data in their marketing programs to begin the process of gaining better alignment to overall strategy. This post will focus on the sales aspect of sales and marketing campaigns – what can be referred to the execution channel. But a word of caution: sales and sales people are no longer synonymous.

As with our data post , you will find five areas of focus for bank marketers to enhance sales activities. Since we emphasized the critical nature of list development driven by strategy, we would be remiss if we now veered back to traditional sales activities to execute the program. Modern marketing programs should create buyers - not just serve as a ‘warm lead sheet’ for field staff.

[5] Tips to Enhance Your Bank's Sales and Marketing Initiatives

1. assess your sales channel capabilities and capacity (honestly).

The pressures on marketers to maximize the opportunities for bank sales channels to deliver positive results are significant. Let’s face it, the number of internal business units lined up to leverage every possible sales channel within any given bank often requires an air traffic controller to manage. While we primarily think of bank sales channels as branches and business development officers – supported with direct mail, digital marketing or other messaging platforms - the increasing use of call centers and outsourcing firms are also gaining greater demand for their services. 

As marketing investment returns continue to be heavily scrutinized, it is time to look at all of your sales channels and honestly assess both the capability and the capacity for all of them. Branches serve as an effective channel for many activities due to staffing models and periodic downtime to facilitate campaigns, but they shouldn’t be used to support every initiative – for a variety of reasons. Nor should a dedicated sales force be the only source through which a business unit should promote its offerings – it is more expensive and requires differentiated segment expertise to be effective. 

Emerging technology has enabled greater levels of channel diversity to support a bank’s sales and marketing campaigns – knowing how effective and available these channels are should create a more dynamic set of "selling" tools for you to use that can better align with your target segments. Taking advantage of these channels allows you to push your sales messages out to the market with less conflict and noise.

As an aside, I recently read an interesting piece from the UK highlighting the preferences for SME’s for sales and service.  No matter the geography, it is never a good idea to assume that you and your customers assign the same value to what your institution offers.

2. Measure the value of each channel in your omnichannel programs

Yes, I realize a key marketing buzzword had to make it into this post. While a daunting term, omnichannel ( click here to read a very academic definition of omnichannel if you are not already familiar with the topic)  has become a marketing darling lately with the introduction of so many devices and access points for customers to interact with their financial institution. As one who is very interested in the topic of payments, I am sensitive to not only the advancement in device and technology capabilities but also the fluid nature of how the market finds new ways use them that may not have been intended by the provider or the bank.

It is a stretch to ask that a full blown omnichannel approach finds its way into every bank’s strategy - but the aspiration of the topic - and expectations of your target audience - cannot be ignored. At a minimum, begin to develop a digital strategy for your institution – starting with your web presence. If you can market an offer online, shouldn’t your customers be able to take advantage of the offer online? Seems pretty simple but those that have thought through and delivered on this alignment are differentiating themselves in the market, particularly with business segments. Maybe you don’t call it omnichannel – call it whatever you like – but you have to have a plan for it because at some level isn’t a branch just another device?

3. Invest (more) in sales and onboarding automation

Despite the title, many banks appear to be heading in two different directions with respect to technology investments to support sales activities. On one hand, the piggy bank has been smashed open to fund KYC/BSA/AML initiatives over the past five years. On the other, investments into leveraging that investment into a better customer experience seem rare, if not nonexistent.  

It is fascinating that while blank checks have been written to support the ever changing world of compliance – believe me when I say that essentially no two banks have the same interpretation of the same commentary on the same day – banks don’t seem to realize that most of the current compliance language was written before any of the current technology existed and aren’t really consistent with today’s technological benefits.

Rather than succumbing to the ongoing maintenance of antiquated processes to address these compliance issues, why not look to leverage your bank’s investment into this robust set of tools to enhance your sales and onboarding process. There is no reason that I have read that you cannot undertake this effort - and the robust nature of these tools (such as real-time predictive transaction reporting and behavioral modeling) can truly differentiate your customer experience from the frustrating process it is for many today.

4. Stop just selling banking products...sell your brand

If there is one mantra that I have held close for years for bank marketing, it is this: stop just selling products! For most institutions, almost everything you offer is a commodity. While some may argue that their features and benefits or prices may be subtly different, you are still providing a highly commoditized set of financial products. But we all still do it, don’t we? Why? Primarily because focusing on products  seems to work - with an emphasis on seems here. We outlined a number of data driven themes in our previous post which would on the surface seem to support more granular capability to target offers to prospects – all true.

I am not naïve thinking that this will change anytime soon. But what I do hope is that your selling efforts are able to transcend this. Focus on what your institution can offer that your competitors cannot – true competitive differentiation . Besides your location and name – apologies to all of the First Banks out there – what do you have that customers and prospects cannot get anywhere else? Most likely your answer is not much. Bank marketers don’t help matters by continually reinforcing messages that are based on features and benefits that customers can find anywhere (and expect) - starting with service.

Note: I have worked with both the largest banks in the U.S. and very small Credit Unions and truth be told, you can receive outstanding service from big banks and lousy service from small Credit Unions. There is no universal ownership of service culture in smaller institutions. Let’s take a page out of the consumer packaged goods playbook and start to sell your brand first; the products are a given.

5. Incent sales on more than widgets

The topic of incentive in sales has been long lamented and hashed and rehashed. We don’t mean to do it again on this post but it would be irresponsible to not highlight the recurring challenges for how sales is evaluated. As the final item to recommend for an honest assessment, it is past time to measure sales effectiveness - regardless of channel or channels used - based on widgets.

Every banker knows that the value of each customer is not the same, and multiple product relationships are certainly stickier than single relationships. So what is the value of an unutilized line of credit or a low transaction account that meets minimums and generates no fees? If you look at some of the scorecards we have seen over the years, you would think they are all worth the same. Not to mention, fully loaded some banks are paying out incentives for these dormant relationships because a widget is a widget. If you haven’t taken on this topic recently, please begin to do so. If you have invested in a strategy and chosen to align your data activities to that strategy, this should be fairly easy.

If you like selling stories,  click here to read one of my favorites from a recent BKM prospect meeting. 

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ABA Banking Journal

Successful Sales in Five Simple Steps

Larry Price

Let’s get the basics out of the way. Why does the staff at your bank need to be able to sell? It’s pretty simple. The majority of jobs in the financial industry require sales skills. The bad news is that there are a lot of financial institutions trying to sell, and if you are going to be successful, your bank needs to be at the top of that list.

But there is good news. Preparing your team for a successful sales call is simple—critical, but simple.

Pass along these steps to branch employees to use on every call, every time.

Step 1: Master your merchandise.

You are the expert on your products, services and solutions. Aren’t you? After all, clients come to your branch for more than the cookies and popcorn. Financial solutions can be scary to potential clients—don’t let clients smell fear on you. Before you sell anything, you need to know the benefits as well as the restrictions of every solution in your arsenal. Genuine confidence, the kind that closes the sale, can only come from a full understanding of your product or service. Anything less appears phony and that doubt will adversely affect either the client’s opinion of you, or your solution.

What tools are available to you? Make sure you know exactly what is written on any brochure or disclosure you will be sharing with your audience. If the client has a question about a product or service, who do you think they are going to ask? So, attend product trainings, stay current on changes and updates, work with your teammates and your marketing departments to ensure you are the expert you need to be.

Step 2: Aim directly for the audience.

For some banks, this one should be easy. Financial institutions with rural branches, for example, have the advantage of employing local salespeople. Then the challenge is simply to recognize the opportunity to engage a potential client.

Imagine this: you are in line at the grocery store picking up a few things for dinner. You recognize the gentleman who is trying to pay for his groceries in front of you—of course you do—your kids have gone to school together for years. He is struggling to use the point-of-sale terminal—certainly either the card or the terminal is not working properly. Do you hear the terminal beeping at him? That is opportunity knocking. You spring into action, “Hi Sam, looks like you are having some trouble with your card, you should come see me at ABC branch in the morning, I could get you set up with one of our accounts that comes with a reliable card and could probably even save you a few bucks in fees each month.” And, since you are on a roll, you say to the cashier, “Alicia, here is my business card, why don’t you have Ellen (the store manager that you used to cut grass for in high school) give me a call, we offer a very competitive merchant service and we can set you up with a terminal that won’t give you so much trouble.”

If you don’t know a lot about this potential client (or customer who does not use the branch), review the information available to you, from every resource. No doubt, your financial institution has invested significantly in tools and systems to capture everything you need to know about this customer. This is why!

For larger banks and larger communities, you may have to take other steps to learn about your current customers. What stage of life are they in? What assets and tools do they have to work with? What problems are you helping clients solve? How is that problem impacting their lives or something they care about? What are their priorities?

Step 3: Know your show.

Planning your approach is key to a smooth sale.

You knew Sam would welcome a solution to his frustrations with his debit card at the grocery store. You know he has a busy schedule would appreciate something reliable. Your quick solution presentation was exactly what he would want to hear. Straight to the point and of course, it never hurts to remind a busy father of exactly where to find you.

You also know that the same short and sweet approach would not have been impactful with the new business owner you met at the PTA meeting last night. He will be looking to set up a line of credit for working capital. Now that you know the details of your small business lending suite, ask for the meeting.

Knowing what you are going to say and why makes the difference between an uncomfortable sales call, and a successful solution presentation. What key points do you need the client to hear about the solution? About your institution? What points will matter to him/her? What questions do you anticipate he/she will have? And as you are the expert, make sure you also think about and prepare the answers to those questions.

Step 4: Look the part.

This seems like an obvious one, but take the time to apply what you know about your audience.

Will you be presenting your solution in a business meeting? Then suit up. Will you be discussing the solution in a barn? Then boots it is. Even conducting your meeting over the phone, you should have an appropriate greeting and a smile on your face. Always be the professional, there is no need for slang, dust off your manners, put your phone away, and give the potential client your full attention.

Yes , you talked to Sam at the grocery store while you had on your coat and boots, but when he comes to your office, he will need to see a confident, well put together, reliable professional. You are a direct reflection of your solution. He expects nothing less, don’t disappoint.

Step 5: Rewind, review and follow through.

Okay, so you helped Sam with a new account and debit card. You were even able to get the grocery store to sign up for your merchant service (good ol’ Ellen). Now what? How do you get good at selling? How do you form successful sales habits? By taking some time to mentally replay the meeting afterwards to identify what worked and what did not.

What went well? Did the audience respond well to a particular point? If so, write it down. Use it again. And again. Did you successfully squelch a potential objection? Nice job. How did you do it? How did your response mitigate the client’s concern?

What could have gone better? How better could you have responded or been prepared? Taking the time to formulate a better response will keep you from making the same mistakes next time. Turn this review into notes for next time. During your preparation for your next sale, review these notes. Really, do it. You will be glad you did.

One more critical item, the follow through: Don’t forget to follow up on any questions or promises you made during your conversations. Did the audience ask a question you didn’t have an answer for? Hopefully, you said that you would look into it and get back to him/her. So, do it. Do you owe the client an answer to something? Making sure you address any lingering questions or requests is key to solidifying the client’s trust in you and your solution.

Don’t get discouraged; it may take more than one follow-up call to make it happen. Be respectful but persistent.

Beth M. Miller has 12 years of experience in the financial industry, with a focus on employee and sales training, product and project management. She has also worked with a variety of relationship management systems and client needs and satisfaction surveys. LinkedIn .

Collaborating on this article was The Verdi Group, creator of the Needs to Leads program that helps financial institutions engage their customers and increase relationship depth.

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action plan to increase bank sales

How to Create a Sales Culture and Process at Your Bank

Brought to you by ignite sales.

action plan to increase bank sales



But times are changing. Customers are taking greater control of their banking relationships. They are switching banks, changing their behavior and demanding improvements. Faced with unprecedented competition from non-banking competitors, new regulations that limit their ability to generate fee income, and shrinking net interest income, banks are challenged to find new sources of revenue if they want to grow.

Outside the banking industry, at the core of any growing company is its ability to connect, nurture and satisfy customers. Although customer service is engrained into the banking culture, a sales culture is not. It is the combination of the proper sales culture, sales skill sets and sales enablement tools that are largely missing from retail banks.

Banks have been focused for several years on cost-cutting measures such as reducing headcount and offshoring, which has been good from an expense standpoint. But in order to grow, they must implement a measureable sales process once and for all.

Take these steps to get the process started:

  • Focus on the buying process at the point of sale. When the first account is opened, it often falls far short of revenue potential. Most business customers are eligible for up to seven income generating products, however only one is typically sold at the initial point of sale. Once this happens, the opportunity for additional sales is lost indefinitely. The best opportunity to sell add-ons is immediate.
  • Think about merchandising. Merchandising is the cornerstone of a best-practice sales process. Retail banking is the only industry known as retail that doesn’t also have merchandisers. Merchandising is simply presenting the right product, to the right customer, at the right time—this is done best at the point-of-sale when customers are already inclined to purchase.
  • Make all channels equal. Whether the customer is online using a computer or mobile device, on the phone with a customer service representative or in the branch, the customer experience should be the same. Based on their needs, the advice and products offered to them should be consistent in all channels.
  • Automate product recommendations. With more than 100 retail banking products on average at their disposal, is it reasonable to expect employees to understand them all in detail? By using a digital playbook, your bank’s representatives can interact with the customer via automated, guided selling. This enables them to automatically find the best products for the customer and engage them in a consultative manner. Guided selling also takes away the complexity of learning every product detail and ever changing regulations so that customer service representatives can focus on engaging customers and developing long-term relationships.
  • Empower employees to create customer loyalty. Give your branch and customer service employees the framework, the tools and the flexibility to use their creativity to provide exceptional customer service.
  • Enact measurement tools. Unless you have in place the sales analytics tools for measuring performance, there is no way to know if you are meeting your objectives. Use sales analytics to track recommendations and openings to ensure your investments are paying off.
  • Create in-the-moment feedback mechanisms. You can’t expect improvement from employees if you haven’t let them know how they are progressing. Don’t wait for review time for your staff to provide feedback. Ensure feedback is being provided on the spot. That way, proper action can be taken to improve performance.
  • Coach them. Without making anyone feel inferior, develop your low performing employees in the branch and call center by coaching them on tried and true tactics used by the higher performing members of the team. Identify and incorporate those tactics and strategies into your digital playbook to ensure you are winning customers.

In retail banks, most sales organizations are underdeveloped. There are few processes in place and as result, fewer measurement tools to make sales accountable. Banks need to implement proven sales processes, use technology to help merchandise income-generating products, and apply both consistently to drive successful sales outcomes.

And last, but not least, the most successful sales programs are spearheaded, promoted or at the very least, approved and supported by the CEO. Sales cannot be successful if the CEO is not on board.

Mitchell Orlowsky

Increasing Efficiencies

How to improve bank branch performance & streamline branch operations processes.

Streamline your branch operations

The last two years have called for undeniable change in the financial industry. They’ve called for forced branch closures, highlighted the importance of contact centers, and accelerated adoption of digital channels. They’ve shined a spotlight on the need for banks and credit unions to have technology in place that will improve branch performance so they can offer the service their accountholders deserve.

By improving branch performance, you can be there for your accountholders where they need you to be – whether that’s at the branch, on the phone, or through a digital channel. After all, branch support doesn’t stop at the branch doors.

To streamline your branch operations and enhance accountholder service through the speed, accuracy, and convenience that comes with automation, start by:

  • Improving staff mobility and accountholder convenience.
  • Empowering contact center agents to provide high quality service.
  • Optimizing your core and complementary solutions to enhance accountholder service, convenience, and loyalty.

Improve Staff Mobility & Accountholder Convenience

“In an industry built on having human connection at branches, the coronavirus pandemic has and will continue to change the way [people] interact with their bank or credit union,” said Connie Hancock, Technical Product Manager at Jack Henry SM . By offering branch employees a modern mobile application that has seamless integrations to multiple back-end systems, they’ll be able to offer the technology, speed, and convenience accountholders have become accustomed to in their everyday lives – during and even before the pandemic.

What if you or your employees could walk up to a branch visitor and help them open an account using a tablet? Or meet them down the street to discuss a home or business loan? (With a connection to your core system in hand.) How much easier would it be for your employees? How much more convenient would it be for your customers and members?

When your employees can support sales and operational processes from anywhere with real-time accountholder information at their fingertips in the branch or remotely, these digitally empowered employees can respond to requests in a more personable way – taking the conversation to the branch lobby, to a coffee shop, or over a Zoom call. “Having the ability to engage with the [accountholder] from anywhere inside or outside the branch and build those relationships makes doing business more efficient and appealing.”

How to improve bank branch performance using this? Look for a solution that improves the mobility of your staff, allowing for personal service at the moment of need.

Empower Contact Center Agents to Provide High Quality Service

As its adoption and usage continues to grow in popularity, digital bankin g has become the new lobby. Banks and credit unions are fast-tracking transformation efforts and increasing investments in digital experience enhancements with a strong focus on service and engagement – looking for the optimal balance between self-service automation and high-touch personal service when and where the accountholder needs it. And where they need it is everywhere: a consumer expectations survey published found that when it comes to user engagement, 82% of consumers reach out by phone (making it crucial for banks and credit unions to offer live phone support even outside of regular business hours), 62% contact via email, and 43% use live chat.

As the role of traditional banks and credit unions continue to evolve, improving digital agility and maintaining your ability to create authentic connections will require improved integration of contact center and branch channels with a holistic digital-first strategy. That’s why you’ll see traditional call centers evolving into true contact centers – with banks and credit unions upskilling their agents and empowering them with the tools they need (quick and easy access to information, single logins, and authentication – to name a few) to improve the service they deliver.

How to improve bank branch performance using this? Be proactive when it comes to accountholder engagement by implement ing solutions with deep digital capabilities, covering channels like phone support, online and mobile, and live chat.

Optimize Your Technology Platform to Enhance Accountholder Service, Convenience & Loyalty

Your core platform is the heart of your service, innovation, efficiency, and future. And when paired with automated, accountholder- and employee-friendly complementary solutions like payments and lending, it stands to be the difference between accountholders who leave and ones who stay for life. Because at the end of the day, when branches offer automated solutions for repetitive processes, there’s more time for financial counseling, relationship development, and learning about real accountholder needs.

All systems require some type of regular investment, and this is particularly true for your core. Whether you’re on a cloud-based platform or in-house, it’s important to stay up to date. Things are changing at a hurried pace in the industry and it’s paramount that you stay at the forefront. To maximize your most significant investment, regularly review it, keep it clean, keep it in the know, and keep it up to date.

How to improve bank branch performance using this? Make sure your core processes are functioning at their optimum levels to best support your accountholders and your employees. Consider partnering with a consulting service that knows your core and can help you increase its efficiency, implement automation, and assist with planning, design, or re-engineering of your banking processes.

Why Streamlining Branch Operations Processes Is Key

When it comes to streamlining branch operations and improving branch performance, the right technology in the hands of your branch employees can provide more than automated workflows and processes. Without multiple logins, lengthy information searches, or being confined to a desk, tellers and advisors can offer faster service – creating a more satisfying experience for everyone involved.

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Blog Training and Development

What is an Action Plan & How to Write One [With Examples]

By Danesh Ramuthi , Oct 26, 2023

action plan

An action plan is a meticulously structured strategy that pinpoints specific steps, tasks and resources vital to turning a goal into reality. It is extremely useful in any project management. 

Crafting an action plan is like plotting a route for a cross-country journey. It’s the strategic map that outlines every step, decision and pitstop needed to reach your ultimate destination.

With a well-thought-out action plan, you’re not just shooting in the dark; you’re making informed, purposeful strides towards your goals. Dive deep with our guide and witness real-world examples that will inspire and guide you.

Need a tool to kickstart your planning? Try out the Venngage business plan maker and explore their extensive collection of action plan templates .

Click to jump ahead: 

What is the purpose of an action plan?

When to develop an action plan, 7 components of a actions plan, 15 action plan examples.

  • How to Write an action plan?

Final thoughts

An action plan serves as a strategic tool designed to outline specific steps, tasks and goals necessary to achieve a particular objective.

Its primary purpose is to provide a clear roadmap and direction for individuals, teams or organizations to follow in order to efficiently and effectively accomplish their goals. 

Action plans break down complex projects into manageable, actionable components, making it easier to track progress and stay on course.

Moreover, action plans play a crucial role in fostering accountability and coordination among team members. By assigning responsibilities and deadlines for each task or milestone, they ensure that everyone involved is aware of their roles and the overall timeline, reducing confusion and enhancing teamwork. 

Additionally, action plans help in resource allocation, budgeting and risk management by enabling stakeholders to identify potential challenges and plan for contingencies. 

Overall, the purpose of an action plan is to transform abstract goals into concrete actions, making them more achievable and measurable while ensuring that the resources and efforts are aligned with the desired outcomes.

Developing an action plan is crucial when you’re looking to achieve a specific goal or outcome. Here are instances when you should consider developing an action plan:

  • Start of an organization : Ideally, an action plan should be developed within the first six months to one year of the start of an organization. This initial plan lays the groundwork for the future direction and growth of the entity.
  • Project initiation : At the start of any project, an action plan helps to clearly define the tasks, responsibilities, and timelines.
  • Goal setting : Whenever you or your organization sets a new goal. Action plans transform these goals from abstract ideas into concrete steps.
  • Strategic planning : For long-term visions and missions, action plans break down the journey into manageable pieces, each with its timeline and responsible parties.
  • Performance improvement : If there are areas where performance is lacking, whether it’s personal or organizational, an action plan can outline the steps needed to elevate performance.

An action plan is a detailed outline that breaks down the steps necessary to achieve a specific goal. Here are the typical components of an action plan.

1. Objective or Goal

The cornerstone of your action plan is the objective or goal. This should be a clear and concise statement outlining the desired outcome or result. Having a well-defined objective provides a direction and purpose to the entire plan, ensuring all tasks and actions are aligned towards achieving this singular aim.

2. Tasks or Actions

Once the objective is set, the next step is to list down the specific tasks or actions required to achieve this goal. These tasks should be broken down into detailed steps, ensuring no essential activity is overlooked. The granularity of these tasks can vary based on the complexity of the goal.

3. Set deadline

For each task or action, set a realistic and achievable deadline. This timeline ensures that the plan stays on track and that momentum is maintained throughout the execution. It also allows for monitoring progress and identifying potential delays early.

4. Resources needed to complete the project

It’s crucial to recognize and list the resources you’ll need to complete the tasks. This can encompass financial resources, human resources, equipment, technological tools or any other assets. Identifying these early ensures that there are no bottlenecks during execution due to a lack of necessary resources.

5. Person responsible

Assign a person or a team for each task. This designation ensures accountability and clarity. When individuals are aware of their responsibilities, it reduces overlap, confusion and ensures that every task has someone overseeing its completion.

6. Potential barriers or challenges

Every plan will face challenges. By anticipating potential barriers or obstacles, you can be better prepared to address them. This proactive approach ensures smoother execution and less reactionary problem-solving.

7. Measurement of key performance indicators (KPIs)

Determine how you’ll measure the success of each task or the plan overall. KPIs are tangible metrics that allow you to gauge progress and determine whether you’re moving closer to your goals and objectives. They offer a quantifiable means to evaluate success.

Action plans serve as blueprints, guiding the steps and resources needed to achieve a specific goal. 

They come in various formats, tailored to different scenarios and objectives. Here, we present a range of action plan examples that cater to diverse purposes and situations. 

From business strategies to simple task lists, these examples illustrate the versatility and importance of well-structured planning.

Business action plan example

A business action plan is essentially a strategy roadmap, meticulously tailored for realizing broader business objectives. By crafting a solid action plan, businesses can channel their resources, manpower and strategies in a direction that harmonizes with their larger vision.

Purple Business Action Plan Template

Key to this plan is the identification and alignment of steps that resonate with the company’s comprehensive strategy, ambitions of growth and aspirations for operational enhancements. 

While this might entail a myriad of specific steps based on unique business goals, some common elements include setting clear key performance indicators (KPIs), undertaking a thorough SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to grasp the current business landscape and establishing a timeline to keep track of progress.

Business Action Plan Template

Furthermore, allocating responsibilities to team members or individuals ensures that every aspect of the strategy has a dedicated focus. Budgeting, essential to the success of the action plan, ensures that every initiative is financially viable and sustainable. 

Red Business Action Plan Template

Regular reviews and iterations based on feedback and changing market dynamics keep the action plan agile and relevant.

Related: 5 Steps to Create an Actionable Employee Development Plan [with Templates & Examples]

Company action plan example

A comprehensive company action plan serves as the strategic linchpin, ensuring a coherent and coordinated approach to realizing organizational goals. Central to this plan is the incorporation of rigorous market research and analysis, which provides insights into consumer behaviors, market trends and potential opportunities. 

Clean Green And Gray Action Plan

Equally vital is the focus on product development and procurement, ensuring that the offerings align with market demands and stand out in terms of quality and relevance. 

Alongside, adept legal and financial management safeguards the company’s interests, ensuring compliance with regulations and prudent fiscal oversight.

Simple Green And Orange Company Action Plan

Moreover, the essence of any successful company action plan lies in its sales and marketing strategies. These define how the products or services are positioned and promoted in the market, ensuring visibility and engagement with the target audience. 

Navy And Yellow Modern Minimalist Action Plan

However, while acquisition is crucial, retention plays an equally significant role. Hence, impeccable customer service and nurturing relationships become indispensable components, fostering loyalty and ensuring that clients remain ambassadors for the brand long after the initial transaction.

Related: 30+ Project Plan Examples to Visualize Your Strategy (2023)

Sales action plan example

A well-structured sales action plan serves as the backbone for systematic and efficient progress. Central to this plan is the identification and utilization of the most effective sales channels, whether they are direct, online or through third-party avenues. 

Strategic Food Sales Action Plan Template

Clarity on the products and services on offer, combined with their unique selling propositions, facilitates tailored and resonant sales pitches. 

Budget considerations ensure that resources are judiciously allocated, balancing the act between expenditures and potential returns. This financial prudence is complemented by setting realistic sales projections, which act as both a motivational target and a yardstick for success.

Timelines, or proposed deadlines, infuse the process with a sense of urgency, ensuring that the momentum of the sales drive is maintained. 

action plan to increase bank sales

However, the true measure of the action plan’s efficacy lies in its key performance indicators (KPIs). These metrics, be it lead conversion rates or customer retention figures, serve as tangible markers, highlighting the plan’s strengths and signaling areas that might require recalibration to increase sales.

Food Retailer Sales Action Plan Template

Corrective action plan example

The essence of a corrective action plan lies in its meticulous structure, tailored to address and rectify deviations or inefficiencies identified within an organization. At its core, each action item serves as a focal point, detailing specific areas or processes that require intervention. 

Black and Green Corrective Action Plan

Accompanying each action item is a clear description that provides a comprehensive understanding of the issue at hand. 

However, merely identifying a problem isn’t enough; delving deep into its origins through root cause analysis ensures that solutions target the fundamental issues, rather than just addressing superficial symptoms. 

Green Minimalist Corrective Action Plan

This analysis then paves the way for defining the corrective action, a tangible step or series of steps designed to mitigate the identified problem and prevent its recurrence.

Besides, to ensure the plan’s effectiveness, assigning a responsible person to each action item is paramount. This individual or team is entrusted with the task’s execution, ensuring accountability and focus. 

action plan to increase bank sales

The status of each action keeps stakeholders informed about the progress, be it in the planning phase, ongoing, or completed. 

Lastly, setting a due date for each corrective action introduces a sense of urgency and purpose, ensuring that issues are addressed in a timely manner, minimizing disruptions and maximizing operational efficiency.

Simple action plan example

A simple action plan strips away the layers of complexity, offering a concise and direct approach to achieving a goal or addressing an issue. This type of plan is characterized by its straightforward structure, devoid of extraneous details, yet powerfully effective in its clarity. 

It is specifically designed for tasks or objectives that don’t necessitate elaborate strategies or multi-layered approaches.

White and Red Simple Corrective Action Plan

The core components of a simple action plan usually include a clear statement of the task or objective at hand, followed by a sequence of actions or steps to be taken. 

Each step is described succinctly, ensuring that anyone involved has a clear understanding of what is expected. Responsibilities are defined clearly, with each task allocated to an individual or a team, ensuring accountability. Timelines might be integrated, providing a clear framework for completion, even if they’re just broad milestones. 

Simple Yellow And Black Action Plan

Regular check-ins or assessments, although minimal, might be incorporated to monitor progress. 

The beauty of a simple action plan lies in its agility and adaptability, making it particularly suited for individual projects, short-term tasks or situations where a rapid response is required.

Simple Action Plan Flow Chart Template

How to write an action plan?

Creating an effective action plan is a foundational step towards turning aspirations into tangible results. It provides a clear roadmap, ensuring that each step taken aligns with the overall objective.

Whether you’re aiming to enhance a business process or achieve a personal goal, a well-drafted action plan can be your guiding light. Here’s key steps on how you can craft one:

  • Step 1: Establish SMART goals: Initiating with a goal that is specific, measurable, achievable, relevant and time-bound ensures you have a clear and focused endpoint in sight. Smart goals serves as the cornerstone for your entire strategic blueprint.
  • Step 2: Determine necessary tasks: Decompose your overarching objective into smaller, actionable tasks. This modular approach not only makes the mission less daunting but also provides a sequential pathway to goal attainment.
  • Step 3: Assign essential resources: Depending on the tasks at hand, designate necessary resources, be they human, financial or technological. This ensures that every activity has the backing it needs for successful execution.
  • Step 4: Prioritize tasks by importance: Not all tasks hold equal weight. Determine the hierarchy of tasks based on their impact on the goal and their time sensitivity. This allows for a systematic progression.
  • Step 5: Outline timelines and key markers: With tasks in hand, set clear deadlines for each. Introduce milestones, which act as periodic check-ins, ensuring you’re on track and allowing for celebrations of smaller victories.
  • Step 6: Oversee and modify your strategy blueprint: As you progress, there will invariably be learnings and challenges. Regularly review your plan to make necessary adjustments, ensuring its relevance and effectiveness.
  • Step 7: Consider ready-to-use templates: If starting from scratch feels overwhelming, lean on structured templates to guide your planning. There’s plenty of business plan softwares and platforms such as  Venngage that offer a plethora of action plan templates , tailored to various needs, which can significantly streamline the process.

An action plan is more than just an action steps, it’s a strategic blueprint that bridges the gap between aspirations and realizations. 

Through this comprehensive guide, I’ve walked you through the purpose, ideal timings, core components, and practical examples of action plans across various domains. 

Leveraging tools of project management , you can track progress, assign tasks and ensure every team member stays on the same page. 

It’s not just about setting goals, but about strategically planning every step, ensuring tasks completed align with the larger project goals. 

Remember, success isn’t just about having goals but about charting the right course to achieve them

And if you’re looking to supercharge your planning efforts, don’t miss out on the Venngage business plan maker. 

Dive into their extensive collection of action plan templates and make your strategic planning both efficient and effective. 


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  • 17 SMART Sales Goals Examples for 2024 [With an Action Plan]

How to create SMART sales goals

Sales goals are important.

Hit your goals, and you’re more likely to grow.

Fail to meet your sales goals though, and growth plateaus.

When we asked 138 sales professionals from different business verticals about their yearly revenue targets they achieved by September 2021, the response was alarming.

More than 60% of sales reps weren’t even close to achieving their yearly sales quota .

Sales goals target vs achievement poll statistics

A HubSpot survey reported similar results as nearly 40% of companies stated that they failed to achieve their sales goals in 2020.

Shocked? We were.

And it left us wondering if there’s a way to help people achieve their sales goals.

After all, we’re a sales execution platform. 

Our goal is to help our customers achieve their sales goals.

So, we decided to put together a easy to follow action plan for companies to achieve their sales goals.

Here we go!

What are sales goals?

Sales goals are the objectives a company or a team wants to achieve in a given time. It gives sales teams a roadmap of what they need to do to help their company achieve specific targets.

There can be different types of sales goals. For example, revenue goals, customer acquisition goals, customer retention goals, and more. For example,

  • Increase sales revenue by 15% in the next quarter.
  • $15,000 in sales revenue per representative per month.
  • Increase customer acquisition rate by 10%.

Reduce customer defection rate by 3% in the next year.

  • Reduce the churn rate to 5%.
  • ACV of $180k per sales rep in 2024.
  • Make 40 cold calls per day.
  • Reduce response time to a maximum of 4 minutes.

In the subsequent sections, we will discuss sales goals examples in detail. But first, let’s look at why it is necessary to set up goals.

Why create sales goals?

Simply put, those who have goals are 10 times more successful than those without them.

And those who have written goals are 3 times more successful than those with unwritten goals.

Interesting, right?

But does this happen in reality?

I’m worried; it doesn’t.

people and goals statistics

Whether it’s a personal or professional goal, we fail because we don’t know what we’re doing and why.

Let’s look at it from an organization’s perspective.

Many individuals contribute to the organization’s goals.

For example, to achieve $$ revenue goals of a company, every team member is assigned a target, and they work towards achieving them.

Seems pretty straightforward, isn’t it?

But it’s not.

In reality, you’ll find a lot of moving parts between planning and execution.

Let’s say you’ve set sales goals for the coming year.

sales goals example - revenue

You have also set up your team and assigned them tasks. But, in the middle of the quarter, one of your team members decides to switch. In that case, if you don’t take appropriate action in time, the goal you’ve set will be in jeopardy.

That’s why setting up sales goals, having an action plan and tracking progress is important.

But not just any goals. The goals you set for your team must be SMART.

Let’s discuss the components of a SMART sales goal in detail.

How to create SMART sales goals

In the context of sales goals, SMART refers to:

  • Specific: The goals should clearly define the expectations
  • Measurable: The metrics and criteria you define for the goals should be measurable
  • Attainable: The goals should be challenging yet attainable
  • Relevant: Makes sense for your business and team
  • Time-bound: Should have a timeline to accomplish them

Here’s an example of a SMART sales goal.

Specific: Your goal is to acquire 600 customers by the end of March 2024. It’s specific and sets a target.

Measurable: You know that you’ll have to make 40 calls per day (assuming 1 in 4 prospects you call converts).

So, 10 customers per day for 60 working days = 600 customers in 3 months.

Note, you can easily measure the number of calls made per day.

Attainable: Making 40 calls in a day is doable. Setting a target of 100 calls is unrealistic.

Relevant: It should fit with the mission of your company. In this case, it makes sense if your sales process depends on cold calling.

Time-bound: 40 calls per day until March 2024 gives a clear timeline to achieve the goal.

Now follow these steps to define and execute your sales goals.

3 Steps to create successful sales goals

Let’s break it down into three main steps:

  • Define goals

Create an action plan

Track performance, define your goals.

You’ll need to define (set) goals:

1. To track metrics: You must set goals on metrics that are important for your business growth. For example, lead generated, the number of calls or meetings scheduled, the number of deals closed, etc.

2. Across the organization’s hierarchy : In an organization, team members will have different roles and KRAs. So, you must set goals and KPIs for individuals as well. For example, revenue targets may not be relevant to the graphic designer.

3. For various cycles : Different KPIs have different timelines. For example, revenue goals are measured on a monthly, quarterly, or yearly basis. Whereas lead generation goals are measured on a daily/weekly basis.

revenue goals example

The goals you define should be fact-based . It shouldn’t be based on whims.

You should evaluate your previous year’s performance, average order value, conversion rate, sales cycle , resources, etc., and accordingly set a realistic goal.

Note that a goal without an action plan is just another new year resolution – unattended and unaccomplished.

So, the next step is to put your plan into action.

An action plan is a well-defined description of goals. It describes the steps that need to be carried out to achieve the goal within a specified time.

For example, if your goal is to bring $100k in revenues next year, your action plan should look like this:

1. Form a team for different aspects of your sales process , such as:

  • Lead generation (marketing)
  • Lead qualification (SDRs)
  • Inside sales for follow ups.

2. Define KPIs for teams and individuals

  • Marketing should generate at least X leads/week
  • Every SDR (Sales development representative) must do Y discovery calls per day and qualify leads
  • The inside sales team must nurture and add Z qualified leads to the pipeline per week.
  • The sales representatives or account executives must follow up and close XY deals per month.
  • Assign goals to the individuals.
  • Equip your teams with the required tools and technology to help them in their day-to-day tasks.

Assign goals to sales reps

Once the team members are on the same page, know their goals, and are ready to perform, the next thing you must do is track the progress.

As we said, there are several moving parts between planning and execution. Sometimes you might fall short of resources, while other times, external factors like competition, socio-political or environmental conditions might disrupt your business.

That’s why you need to keep a tab on the sales metrics and whether or not you’re on track to achieve your goals.

Now, if you plan to do this manually, you’ll end up deploying more resources in data crunching.

Instead, you can use CRM software to manage your leads, sales reps, and more in one place. With this, you can also generate automated reports and dashboards to keep an eye on the achievements.

Create sales goals in CRM software

So, now you know what’s happening in your team. How far you are from achieving your sales goals. If the destination seems hazy, the obvious step you must take is – improve.

Improve performance

Keeping a tab on sales KPIs will help you spot underachievers and overachievers. While the strategies of star performers can inspire others, training and support can help underachievers.

The following are the ways to improve your team members’ performances.

  • Nudges : Motivate users at the right time using relevant nudges via web notifications, mobile, and emails.
  • Gamification : Inspire your teams to perform more, break the records using leaderboards , incentives (e.g., SPIFF ), and more.

So, now you know how to create and execute goals. Let’s look at the sales goals examples you can use for your business.

17 SMART sales goals examples

Revenue goals are the targets to increase the gross or net profits of the company. They reflect the cash flow a business needs to generate each year to cover all expenses while making profits. Revenue goals can be set for a team, region, or product line for a specific timeline.

Here are some examples.

  • $15,000 in sales revenue for each representative per month.
  • Generate $1.2M in 2024 from Alaska.

Sales goals examples - revenue target vs achievement

2. Unit sales

This sales goal applies to all businesses that sell physical products or services. You can set a quota for your sales team to achieve within a timeline.

For example, you can set a sales goal of 100 units per week for your sales reps .

3. Customer acquisition

Companies drive revenues from both – new and existing customers. Customer acquisition as a sales goal focuses solely on acquiring (gaining) new customers.

  • Increase customer acquisition rate by 10% per quarter.
  • Acquire 100k new customers from Florida.

4. Lower the customer acquisition cost

Customer acquisition cost (CAC) is the total cost you incur to acquire a customer. When your CAC is lower, you can make more profit from a sale.

CAC involves all costs like-

  • Wages and commissions of sales reps
  • Calling costs
  • Marketing and sales expenses
  • Tools and software costs

To calculate CAC, divide the total cost of acquiring customers by the number of customers acquired.

That is, if you spend $100 to acquire 100 customers in a year, your CAC is $1.

You can create sales goals to lower the CAC.

Reduce the customer acquisition cost to 80% by next quarter.

You can also refer to the following industry benchmarks for the CAC .

Average customer acquisition cost by industry statistics

5. Market share

Usually, large enterprises and aggressive start-ups target market share as a sales goal. For instance, you must have heard of Amazon’s relentless strategies to capture market share across several segments.

6. Customer retention

Customer retention refers to the activities to reduce customer defections.

In contrast, customer defection rate is the number of customers who cancel their subscription or stop making regular purchases. The lower the defection rate, the higher is your customer retention and spend.

An example of this goal could be:

7. Improve NPS

NPS or Net Promoter Score is an important sales KPI to boost customer loyalty and retention.

It indicates customer satisfaction and the likelihood of customers to recommend your products or services to others.

  • Reduce detractors by 5%
  • Increase promoters by 5%

Note that assigning absolute number targets for NPS may lead to score-begging. So, instead, assign relative targets to your reps to understand if you’re actually improving the service quality or not.

NPS - Net promoter score template

8. Reduce customer churn

Customer churn is the number of customers who stopped using your company’s product or service during a certain period.

Churn is unavoidable.

However, if your churn rate is above the industry average, you should be alarmed.

churn rate by industry statistics

You must find out why your customers churn and ways to make them stay.

Anything like competitor pricing, new market entrants, outdated product features, poor customer service, etc., could lead to churn. But sustainable brands ensure a balance between customer acquisition and retention.

For example, you can set goals to reduce the churn rate to 5%.

9. Customer lifetime value

A customer lifetime value (CLV) is a long-term prediction of the future values of your customers’ interactions.

It is an important business metric that measures how much a business can earn from the average customer over the course of the relationship.

Increasing CLV as a sales goal looks something like this:

  • Increase the average customer lifetime value from $80k to $100k.
  • Increase the average customer relationship period from 3 years to 5 years.

10. Annual contract value

Annual contract value or ACV is the average annual revenue generated from each customer contract.

Businesses that depend on subscriptions or rentals can use the annual contract value to set targets and commissions.

You can multiply the monthly target of a rep in his annual contract value to get the final value.

So, if a rep’s monthly target is $15,000, then annual contract value is $15,000 x 12 = $1,80,000. You can also include one-time sales in the yearly contract value.

  • ACV of $6 million from North America in 2024.

11. Lead generation goals/prospecting

Qualified leads are more likely to convert. The more qualified leads you get, the more deals you can close . You can set a target for your sales team to generate, say, 50 qualified leads per month with at least 75% on the qualification score .

12. Sales cycle goals

A sales cycle refers to the time it takes to convert a lead into a customer. Companies that have shorter sales cycles sell more and earn more revenues.

Let’s say your sales cycle is 6 weeks. You can set a goal to cut it down to 4.5 weeks.

Note that some industries incur longer sales cycles . So be aware of the optimum sales cycle for your business to create a sales cycle goal.

13. Sales activities: email marketing

You can turn the activities of your reps or sales team into targets. These are applicable when you set goals for people down the organizational hierarchy.

Here are some examples of email marketing goals.

  • Increase demo sign-ups from email campaigns by 20%.
  • Hit 5% email open rate target.

For this, you’ll need to track email KPIs closely.

You can either use email marketing software or CRM software like LeadSquared that supports marketing campaigns.

The following screenshot illustrates how LeadSquared CRM helps you keep an eye on your email metrics and devise strategies to improve them.

email open rate statistics by hours of day

14. Sales activities: cold calling

Similar to the above sales goals example, you can give cold calling targets to your inside sales teams. For example,

  • Increase cold calling by 20 leads per day.

You can also use LeadSquared CRM software to manage contacts and cold calling activities on a single platform.

retail sales goals examplesTarget and achievement reports

15. Sales activities: speed-to-lead

Speed-to-lead, or the average lead response time, is the average time it takes for a sales rep to respond to an inbound lead.

It is advised to contact a lead within 5 minutes of the inquiry. Not doing so decreases the odds of qualifying the lead by 80% .

So, improving lead response time or increasing the speed-to-lead can be a sales goal for an individual. Here are some examples.

  • Increase speed-to-lead by 50%

If you’re wondering if this is a call-center metric , you’re wrong.

Speed-to-lead as a sales goal applies to all sales and customer service departments.

16. Sales activities: meetings/demos

Again, this is an individual sales goal, generally given to the SDR (Sales Development Representatives) teams.

The aim is to build a sales pipeline for the account executives. For example, you can give your reps a target to schedule 20 meetings per week .

17. Business expansion goals

Business expansion goals are similar to the revenue and market share goals but with a strong focus on the region. For example,

  • Drive $6 million ARR from the United States in 2024.
  • Capture 40% consumer durable market share in Texas by 2025.

So, these were some of the sales goals examples that you can set for your teams.

However, it’s essential to use software to track sales goals and measure every individual’s contribution towards achieving those goals.

I’d like to share a story of how LeadSquared helped a leading travel booking company track its sales performances.

How LeadSquared helped a leading travel company plan and act on sales goals

One of our customers in the travel segment was facing challenges in creating sales goals and monitoring them. The problem became serious when they started expanding across geographics.

Some of the pressing challenges were:

  • Managing employees and tracking their progress /work log on excel sheets was ineffective
  • Data loss due to multiple sheets and inconsistent data flow across systems.
  • Monitoring achievements on the whiteboard was just not right.
  • The management wasn’t able to track individual and team performances .

“Keeping track of our agents’ conversations, monitoring our teams, and evaluation of productivity became tedious as the operations scaled,” says the company’s Inside Sales Head.

After implementing LeadSquared, the management was able to set clear objectives for the team. Monitoring them regularly helped them improve critical business metrics. The main functional areas that contributed to increased sales efficiency are:

  • Setting up talk time targets
  • Setting up meeting activity targets
  • Tracking lead activities

With LeadSquared, they were able to:

The process to set up sales goals for your teams

“We were able to configure all the required targets for our team like how many leads we are getting, what actioning has been done, what is conversion rate, how many leads have been closed by the team w.r.t their target. Being able to configure all different kinds of targets makes goals a very critical feature for us now,” says the company’s spokesperson.

In conclusion

While setting up sales goals gives clarity and direction to organizational success, tracking progress ensures that you have everything you need to achieve your goals.

If you have a plan but are not able to track progress, it’s high time to invest in a tool that helps you just do that. And while you do, do check out LeadSquared sales performance suite. LeadSquared has helped leading organizations like BYJU’S, Dunzo, and many more achieve and exceed their sales goals. To see it in action,

Avatar photo

Nidhi is a content writer/editor at LeadSquared. She works closely with sales professionals and senior management to bring their outlook into her write-ups. Connect with her on LinkedIn or write to her at [email protected].

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Bank Sales Management – Balancing Growth and Retention to Reach your Sales Goals

For sales teams, the key to balancing new business development and retention of existing accounts is a clear “flight plan” and active, focused sales management.

How would your sales teams respond to this challenge?

  • Grow loans and DDA balances 10% (for the third year in a row) in a fiercely competitive market (never mind the recession),
  • Retain 100% of the customers designated as “high value” when customer attrition has been averaging 17%, and
  • Maintain current sales team head count – no additional resources.

Many small business and commercial market sales teams face challenges like this. If they don’t panic a little, they probably don’t understand the goals. And, since (typically) 85% of sales people have no documented plan and 73% have no plan for their top 5 accounts, serious panic and fresh resumes might be more likely. Whether you divide your sales teams into “finders and minders” or you ask relationship managers to acquire new business while deepening existing loan and deposit relationships, the key to reaching your sales and retention targets is a good guidance system that starts with picking the right targets and choosing the right flight path.

Choose the Right Targets

The most important element of any flight guidance system is the target. “My people are heatseekers,” a sales manager once told me. “Once we set targets, nothing distracts them.” So, you have to make sure you’re setting clear, unambiguous targets.

First, sales team members must know what success looks like: What’s the balance of account retention and account acquisition that makes the business model work?

Once the balance is set, targeting must include four elements:

  • Target market segments and ideal customer profiles.
  • Priority-tiering criteria for customers and prospects.
  • Value propositions for target segments stated in words the target customers would use.
  • A limited and specific customer base so that relationship managers mine deeply.

Establish Guidance Parameters

With targets established, Mission Control (sales managers) must establish guidance parameters – clear expectations and standards that tell heat seekers what acceptable flight paths look like. The standards tell your sales people exactly what’s expected and when they’re off track from an activity point of view, as well as from a results point of view. The relationship managers will incorporate these expectations into their planning.

The critical areas for standards or bench marks include:

  • Activity levels,
  • Product mix, and
  • Forecast accuracy.

Discuss Annual Flight Plans

Once you’ve established targets and flight path limits, relationship managers and sales team leaders must plan their flights precisely. The more audacious their goals, the more important the planning… and it’s the last activity in the world the relationship managers want to do.

“Forget about this,” they say. “I need to be calling on customers.” The truth is: If they don’t plan, that responsibility falls on the team leaders’ shoulders. Since sales team leaders simply cannot call all the plays and manage eight, 10, or 15 active sales people, the whole team and the growth – retention strategy is put at risk.

We recommend that sales team leaders ask RMs to develop plans focused on accounts, activities, expected results, and resources needed, just as if they were managers of independent businesses:

  • Annual territory plans.
  • Relationship plans for critical “must keep” or “must expand” relationships.
  • Personal development plans that are tied to the specific results an RM is asked to achieve. Once the RMs have developed their plans, managers and RMs should discuss the plans as if the RMs were independent businesses (franchisees) and the sales team leaders were the franchisers.

Start the conversations with a discussion of goals — the relationship managers’ goals for themselves and their businesses, for their compensation, for their markets. Then, focus on their strategies to reach their goals and the measures they will use to assess whether they’re on track. This information enables you, as a sales coach, to look for disconnects between their goals and their activity plans, giving you opportunities to catch potential problems early.

Mid-Flight Check Points

After initial discussions of the annual plans, we recommend a consistent pattern of team leader –

RM mid-flight check points that provide a forum for inspection, feedback, and resetting course:

  • Weekly – focus on deals, activities, field observation, behaviors, and skills.
  • Monthly and quarterly – focus on “managing the business”, tracking progress against business plans and making adjustments needed for upcoming periods.
  • Semi-Annually – a formal performance review.

These coaching disciplines drive sales results and ensure the appropriate balance between new business development and account retention activities. Sales managers’ expectations, coupled with feedback and consequences, change sales behaviors. In each weekly, monthly, and quarterly conversation, the manager and RM compare “business planned performance” from the written plans with “actual performance,” identify problems, and reset plans for the period leading to the next meeting.

Further, effective RMs and managers use the monthly and quarterly meetings to plan responses to “surprises” such as unexpected requests from senior managers so that such requests doesn’t cause instant circuit overload.

The Ultimate Benefit

Challenging sales goals should create a sense of excitement, a little panic, some nervousness. Just as we’d expect our customers to plan, sales team leaders should expect their RMs and themselves to plan. Since time is so precious, the plans should focus on the most important leverage points —target customers, critical activities, resources needed — to reach the sales goals.

The regular conversations about the plan between sales team leaders and their direct reports are the most important aspect of the planning process. The conversations must be frequent (at least monthly), consistent (there’s no avoiding them), and valuable to both parties. For relationship managers, in particular, the conversation time must ultimately lead to clear priorities and commitment of resources that the RM or sales team needs to make its numbers. These conversations leave the direct reports feeling focused, energized, and well supported.

In the words of one sales manager: “If you don’t plan, and we don’t talk, I can’t help you.”

Nick Miller is president of Clarity Advantage, Concord, Mass., a firm that helps banks generate more profitable relationships faster with small- and medium-sized companies, their owners, and employees. He can be reached at [email protected] .

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  • Create an action plan that drives resul ...

Create an action plan that drives results

Alicia Raeburn contributor headshot

An action plan outlines precisely how you’re planning to accomplish your goals. It’s the perfect way to approach goals systematically and keep your team on target. In this article, we will cover how to create an action plan in six steps and how to implement it successfully. Plus, learn more about the differences between action plans, project plans, and to-do lists.

It can feel good to make goals. After all, you’re defining what you want to accomplish. But goals won’t do much without clear action steps. ​​An action plan is a popular project management technique that lists your action steps so you know exactly how you’re going to accomplish your goals. 

We’re going to show you how to create this clear roadmap step by step and other tools you should utilize to get the most out of your action plan. Let’s dive in.

What is an action plan?

An action plan is a list of tasks or steps you need to complete to achieve your goals. An effective action plan works like a management plan for your company’s initiatives, outlining the steps you need to take to make these larger goals a success. Once you go through the goal-setting process, create an action plan with specific tasks and timeframes to reach each goal. 

Who needs an action plan?

An action plan is useful for anyone who needs a step-by-step planning process. When you create an action plan, you detail exactly what actions you'll take to accomplish your project goals. These plans can help you organize your to-dos and ensure you have the necessary information and resources to accomplish your goals.

But you can create action plans for more than just strategic planning. Use this tool to reach any specific goals in a systematic way. Try setting up:

Business action plan

Marketing action plan

Corrective action plan

Sales action plan

Project action plan

Personal development action plan

Regardless of the type of action plan you create, make sure you create it in task management software . That way, you can easily share action items and timelines with your team to track progress. Instead of manual status updates and unclear deliverables, your team has one central source of truth for everything they need to do in order to hit their goals. 

Now let’s get into how you can create an action plan that increases your team’s efficiency and accountability.

Who needs an action plan?

6 steps to create an action plan

Step 1: set a smart goal.

When it comes to setting goals, clarity is the single most important quality. With the SMART goal method, your goal is clearly defined and attainable. Set specific, measurable, achievable, realistic, and time-bound goals to benefit from this tactic.

[Inline illustration] SMART goals (Infographic)

For example, your goal could be to deliver your current project (measurable) in four months (time-bound) without overspending (specific). Assuming this goal is both achievable and realistic based on your available resources, it’s a great SMART goal to set for yourself.

Step 2: Identify tasks

Now that your goal is clearly defined and written down, you’ll want to identify the steps you have to take to reach it. Identify all of the tasks that you and your team need to complete to reach milestones and, eventually, the main objective.

Here are a few action plan examples with tasks for different kinds of goals:

Goal: Expand team from seven to nine team members by June.

Meet with Human Resources to discuss the recruitment campaign.

Create a template project to track candidates.

Schedule three interviews per week.

Goal: Select and onboard new work management software to the entire company by the end of Q2.

Apply for the budget.

Create a roll-out plan for Q2.

Schedule training for team members.

Goal: Host 5k charity run in May to raise $15,000 for the local food bank.

Find volunteers and determine responsibilities

Prepare marketing materials and PR plans

Secure sponsors

Step 3: Allocate resources

Once you’ve outlined all of your tasks, you can allocate resources like team members, project budget, or necessary equipment. Whether it’s assigning team members to certain tasks, applying for a budget, or gathering helpful tools—now is the time to plan and prepare.

Sometimes, you can’t allocate all of your resources before you put your action plan in motion. Perhaps you have to apply for funding first or need executive approval before you can move on with a task. In that case, make the resource an action item in your plan so you can take care of it later.

Step 4: Prioritize tasks

When your team is clear on their priorities, they know what work to do first and what work they can reschedule if necessary. No action plan is set in stone, so the best way to empower your team is to let them know what tasks have a high priority and which ones are a bit more flexible.

To make this clear, sort all of your action items by priority and sequence:

Priority: Important and less important tasks.

Sequence: Order in which tasks have to be completed so others can start.

When you’re organizing and prioritizing your action items , you’ll notice that some action items are dependent on others. In other words, one task can’t begin until the previous task is completed. Highlight these dependencies and factor the sequence into your prioritization. This reduces bottlenecks , removing obstacles that would make a less important action item delay a high-priority item.  

Step 5: Set deadlines and milestones

When your team knows what they're working towards, they have the context to effectively prioritize work and the motivation to get great work done. Team members tend to be more motivated when they directly understand how their work is contributing to larger goals.

To engage your teammates from the get go, assign deadlines to all action items and define milestones . Milestones mark specific points along your project timeline that identify when activities have been completed or when a new phase starts

Create a timeline or Gantt chart to get a better overview of your prioritized tasks, milestones, and deadlines. Your timeline also serves as a visual way to track the start and end dates of every task in your action plan. You can use it as a baseline to make sure your team stays on track.

Step 6: Monitor and revise your action plan

Your ability to stay on top of and adapt to changes is what makes you a great project manager. It’s crucial that you monitor your team’s progress and revise the plan when necessary.

Luckily, your action plan isn’t set in stone. The best way to track potentially changing priorities or deadlines is to use a dynamic tool like a work management software . That way, you can update to-dos and dependencies in real time, keep your team on the same page, and your action plan moving.

Action plan vs. plan B vs. project plan vs. to-do list

So how exactly does an action plan differ from all these other plans and lists? To clear this up once and for all, we’re going to explain what these plans are and when to use which plan to maximize your team’s efforts.

Action plan vs. plan B

You may have heard the terms action plan and plan B used interchangeably. But in fact, an action plan and plan B are two completely different types of plans. Here’s how to tell them apart:

Your action plan outlines actions in much detail so you and your team know exactly what steps to take to reach your goal.

A plan B is a secondary action plan, an alternative strategy, that your team can apply if your original plan fails. Whether that’s because of an internal issue or an external factor—having a plan B is a great way to be prepared for the worst case scenario.

Action plan vs. plan B

Action plan vs. project plan

A project plan is a bit more complicated than an action plan. Project plans are blueprints of the key elements your team needs to accomplish to successfully achieve your project goals. A project plan includes seven elements:

Goals and project objectives

Success metrics

Stakeholders and roles

Scope and budget

Milestones and deliverables

Timeline and schedule

Communication plan

Once you’ve created a project plan, use an action plan to outline and document how your team will execute your tasks and hit your goals. This will ensure that everyone on your team knows what their responsibilities are and what to get done by when.

Action plan vs. to-do list

A to-do list is typically used to write down single tasks that don’t necessarily lead to one common goal. To-do lists can change daily and are much less organized than action plans. An action plan will follow specific steps and include tasks that all lead to the completion of a common goal.

How to implement your action plan successfully

You know how to create an action plan, but in order to implement it successfully, you need to use the right tools and use them correctly. Here are our top five tips to ensure your action plan is effective:

How to implement your action plan successfully

Use task management software

Streamline your action plan by keeping all of your tasks and timelines in one central source of truth. Task management software, like Asana , is perfect for your action plan because it allows you to keep track of pending tasks, declare task ownership, assign dependencies, and connect with your team in real time or asynchronously .

Use or create templates

Create or use a template that lists all the action items with notes, status, priority, and ownership. When you create a template that fits your project type, you can reuse it time and time again.

Set up real-time alerts and assign dependencies

Make sure all action items are time-bound and that you assign dependencies. That way, your team can react when an item is ready for them and easily track what other items depend on theirs. 

Check action items off as you complete them

When action items are completed, check them off! Make sure it’s visible to everyone and happens in real time so the person responsible for the next action item can start their work as soon as possible.

Discuss late or pending tasks

If you run into issues or delays, talk to your team to uncover potential bottlenecks and find solutions that keep the action plan on track. You can add notes directly into your action plan or set up calls to discuss more complex issues.

Ready, set, action plan

Like Benjamin Franklin once said: “If you fail to plan, you are planning to fail.” Creating an action plan helps you stay focused, on track, and brings your goals to life.

Plan to succeed with a structured action plan and helpful tools like Asana’s task management software. Connect and align with your team in a central source of truth while staying flexible enough to revise your action plan when necessary.

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How To Create Your Sales Action Plan (Free Template!)

What’s more frustrating than attempting to achieve large long term goals without ever seeing progress?

That’s why having daily activities that build towards your long term goals is the only sure way to see results. 

Needless to say, writing a sales action plan is crucial since it will be the guidelines for your entire sales process.

Psst. if you don't want to read the whole post, here is the sales action plan template.

action plan to increase bank sales

What Is A Sales Action Plan? 

This acts as the guidelines for your sales team to accomplish a specific goal by a certain date. It also includes all of the information for how the team can achieve this. 

Typically, this plan revolves around weekly, monthly, quarterly or annual timeframes (sometimes even longer). 

Not only that, but it includes all of the necessary information for how the team can achieve the goal.

The point of a sales action plan is to create consistency within your company and to better your sales process. This can have a serious impact on your bottom line. 

Listen to this: “The 60% [of companies] that do have a well-defined sales process in place are 33% MORE likely to be high performers. The win rate exceeds 50% for two-thirds of companies that have a defined process in place.”

These higher-performing results come from having clarity and consistency that your sales action plan creates. 

Planning Your Sales Action Plan

The first step of any plan is to start with the end in mind. And if you don’t have a clear end goal for your sales action plan, then find someone who does.

What I mean by this, is that you should study someone else’s plan that is already proven to work. 

But don’t worry, I went ahead and made you a sales action plan template so you can easily implement it into your business.

action plan to increase bank sales

But if you want to create your own plan by filling out the template, keep on reading as I will explain the steps to do so.

Creating An Effective Sales Action Plan 

Here is each individual section for creating your own plan.

Look at past data to identify what needs to be improved

I sure hope you have been tracking the best sales metrics during your journey this far. If not you need to start!

Now it is time to sit down, and fully understand ‘ What has been going on in the past, and why?’

Key aspects to analyze are:

  • What actions have produced the most revenue so far?
  • Which team members performed the highest and why?
  • If there were months where you hit quota and some months where you did not, what was done differently?
  • Can you narrow down your target audience by looking at commonalities between the kind of customers who are responding frequently? 

The only sure way to create an amazing plan is to analyze your results from the past and understand how you accomplished them. 

This will give you insights into what key results you should be focusing on, and how you can do it again or even accomplish more in the near future. 

Action Step: Identify what needs to be improved to determine what new key results you should focus on.

action plan to increase bank sales

Outline how you plan on achieving your key results

After you identify what needs to be improved, it is time to figure out how you will actually improve it. 

Set key initiatives/strategies that revolve around the specific key results you wish to improve. 

Let’s say you want to increase your revenue, but you noticed that your total demo meetings booked were lower than they should be. 

Instead of setting a goal like increase revenue by 30%, you should set the goal of booking 100 demo meetings this quarter .

The 100 demo meeting’s book goal would be specific around the key results you’re going towards.

Action Step: Create a list of key strategies that lead to your desired key results. 

Understand what will help and hurt you

Think about the possible obstacles that you might face. There are plenty of obstacles out there so just focus on the biggest blockers that have the potential to slow you down. 

On the other side of things, think about the type of resources that will help you with your key initiatives. 

Understanding both of these will help you leverage what is available to you and avoid what can slow you down the most. 

Action Step: List out what you believe your biggest potential blockers and key resources/drivers will be.  

Create a timeline and milestones

List out 3 milestones to strive towards. 

Start with the last milestone, and make it long term (1 year or more) to envision the future. Then from your long-term milestone, build out the other 2 milestones that add up to it.

Let’s say for example that your long-term milestone is to close 30 deals this year, and your close rate is 10%. Then you will need to send 300 proposals to potential clients after their demo meeting. Keep working this math backward from each stage in your pipeline until your key strategy adds up.

Make sure that each daily activity is reasonable, otherwise your long-term goals will likely need to be changed.

Don’t forget to describe what metrics you will use to judge your performance. 

Action Step: Determine 3 milestones and the timeframe for each.

Take Action

This is the most important step in any plan.

Now it is time for you to sit down and grind it out. Make it the best you can -- but don’t focus on making it perfect. It will continuously evolve with your business. I highly recommend you utilize the sales action plan template I made for you to save yourself time. 

Next on the agenda is to make sure that your sales team is inspired . That said: if you don’t have a sales team yet, you’ll need to hire the best sales reps available. 

Action Step: Literally sit down and start to fill out this sales action plan template right now to build momentum. 

Action Step Summary

  • Identify what needs to be improved to determine what new key results you should focus on.
  • Create a list of key strategies that lead to your desired key results. 
  • List out what you believe your biggest potential blockers and key resources/drivers will be.  
  • Determine 3 milestones and the timeframe for each.
  • Literally sit down and start to fill out this sales action plan template right now to build momentum. 

That’s a wrap! 

I sure hope you can now write your own sales action plan after this post! In the meantime, you can grab our free sales resources below:


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Kyle Vamvouris

Kyle Vamvouris , our CEO, spearheads Vouris with remarkable drive and charisma, firmly establishing us as an industry leader in sales training consultancy. Recognized as an authority in B2B tech sales, Kyle brings a nuanced understanding of the SaaS and Service landscapes, truly comprehending the complexities and nuances of constructing and nurturing high-performing inside sales teams.

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Top 10 Sales Action Plan Templates with Samples and Examples

Top 10 Sales Action Plan Templates with Samples and Examples

Deepika Dhaka


Black Friday is around the corner, the busiest shopping festival that gets its name from the fact that it turns retailer’s accounts from being “in the red” to being back “in the black.” Marking the start of the Christmas shopping season, most consumers have started planning and creating their list of purchases for Thanksgiving 2022.

As a business owner, however, are you prepared to capture their attention and fulfill demand? If not, begin now, or you might lose business to your competitors. Planning for Black Friday Sales is the key to standing out in a large crowd of retail businesses. Think about it! Every store, whether brick-and-mortar or e-commerce, is already coming up with promotional activities. Customers are busy searching for these. How do you catch their attention?

You can turn this Black Friday sale into significant profits for your business with the creation of a Sales Action Plan to help you prepare and roll out some effective sales tactics. And yes! Don’t let creating your Black Friday Sales plan frustrate you. It’s easier than you think to brand yourself as a class apart. All you need is a definitive Sales Action Plan that helps your business draw in the crowds and have cash registers ringing.

Sales Action Plan Templates

Before, we tour the PPT Templates, are you looking for a comprehensive module to train your sales team and improve their performance? Access our Sales Training Curriculum with content-ready, well-researched slides that will make your training program a terrific success!

Comprehensive Curriculum for Sales Training PPT

Click Here to Download our Comprehensive Curriculum for Sales Training

SlideTeam presents the most popular Sales Action Plan Templates that global marketing leaders have found indispensable. The Black Friday Sale is just one instance of the application of these PowerPoint Templates, you can use these content-ready samples for all sales campaigns of the year.

Let’s explore these customizable templates!

Template 1: Sales Action Plan PowerPoint Presentation

Boost your top-line revenue growth and increase profitability with this Sales Action Plan Template, which is packed with content related to components, steps, and types of sales strategies. It will educate you on the benefits of sales strategies and the costs involved in the implementation. This PowerPoint Presentation also includes a strategic action timeline and guides on digital tools for enhancing the effectiveness of your sales strategies. Here you will also find slides to display statistics related to sales and a dashboard for your busy CEO. Grab it today if you are looking for a consolidated PPT Presentation on Sales Action Plan!

Sales Action Plan Presentation

Download this template

Template 2: Yearly Sales Action Plan Template

This one-pager PowerPoint Template will help you hone in on tactics that will define how you can reach your set objectives. With this consolidated layout, you can talk about key sales channels, including online, wholesale, and in-store channels. Present your revenue targets, target customers, and budget allocation with this content-ready PowerPoint Template. At the top of the slide, you can mention your sales goals and the plan year, along with its budget. Display the products and services you offer to your customers along with the budgeted sales and the devised distribution strategy. You can download this pre-developed sales planning one-pager PPT Template instead of wasting time writing any presentation from scratch.

Yearly Sales Action Plan Template

Template 3 : One-Pager Sales Action Plan Sheet

Are you struggling to develop a sales plan that can enrich and empower your business? This sales action plan template is the easiest and most graceful way to lay out your objectives, strategies, and tactics to optimize your sales channels. The strength of this one-page sales plan is that all your team members can understand it. It can help you identify potential obstacles and roadblocks so that you can come up with ways to overcome challenges. It includes six key parameters that will help you understand and study your sales channels. These are products and services, budgeted cost categories, projected sales, distribution strategies, proposed deadlines, and KPIs.  Download it today!

One Pager Sales Action Plan Sheet

Template 4: Building an Actionable Sales Plan PPT Set

The PowerPoint Bundle provides a comprehensive framework for crafting a robust sales strategy. Encompassing key elements such as competitor analysis, distribution channel evaluation, and marketing strategy development, the template guides users through a systematic approach to understanding customer and market dynamics. The inclusion of a detailed channel marketing plan, launch strategy, and exploration of the buyer's journey ensures a holistic view of the sales process. Additionally, the template digs deep into effective lead-generation processes and activities, equipping users with the tools needed to drive successful sales outcomes. Download now!

Building An Actionable Sales Plan PPT Set

Template 5 : Yearly Strategic Sales Action Plan Template

Peppered with eye-catching graphics, this Bi-Fold Yearly Strategic Sales Action Plan Template is a remarkable visual communication and promotion tool to bring attention to your business offerings. Use it to devise a successful sales campaign that speaks volumes about your products and grabs consumer interest. With plenty of industry-specific customizable shapes, visuals, graphics, and many more, this A4-size bi-fold design will help you create strategies and improve your customer engagement. Grab it today!

Yearly Strategic Sales Action Plan Template

Template 6: 30-60-90 Day Sales Action Plan Template

Sales managers and new sales representatives will benefit from this stunning 30-60-90 Day Sales Plan because it documents the progress, challenges, and victories you record as you do business, day in and day out. You can use this PPT Template to ensure members of the sales team are growing in their roles and to identify any need for additional training or guidance. With this PPT Template documenting goals and accomplishments, it becomes easier to carry out the sales performance review process. Managers and their team members can see details of their work that they might have otherwise forgotten over time. Get it now!

30-60-90 Day Sales Action Plan Template

Template 7: Sales Action Plan Steps Template

Presenting a six-step Sales Action Plan Template for an easy understanding of the concept and providing directions to the entire team. The first step is defining the sales objective, evaluating the current situation, listing barriers to success, assessing strengths and assets, creating a sales call strategy, and outlining an action plan. This complete and comprehensive process is presented here in a foolproof manner. Download it today to get started!

Sales Action Plan Steps Template

Template 8: Sales Action Plan with Brand Development and Advertisement

Use this Sales Action Plan Template to create a strong brand presence and reach the maximum target audience. This PPT Slide highlights vital elements of developing a brand. These elements focus on identifying top customers, advertising, increasing networks, and updating and developing a plan. It also offers suggestions on how to identify prospects and create a personalized approach plan. This presentation template also includes appealing icons to help you recall all these stages when needed. Download it now!

Sales Action Plan with Brand Development and Advertisement

Template 9: 10-steps to Develop an Effective Sales Action Plan

Deploy this 10-step sales action plan template to give your employees direction and purpose. It will ensure that your staff have everything they need to achieve their goals when it comes to sales quotas and prospecting. The more detailed your action plan is, the less likely it is that your team will end up confused and struggling to make decisions for themselves. Using this foolproof plan, then, becomes a necessity. This PPT Slide entails activities that are a must-have for any sales plan. Grab it now!

10 Steps to Develop an Effective Sales Action Plan

Template 10: Sales and Marketing Action Plan Sample

Are you looking for a well-structured and easy-to-use sample to display your sales and marketing action plan? This PPT layout is an ideal pick to chart your online advertising and market research action plan. Use this template to track performance and make informed decisions for future sales planning, as it offers you the option of adding sub-categories. This table will help everyone stay on the same page and suggest necessary changes to bridge the gap between potential and performance. Download it now to speed up the process!

Sales and Marketing Action Plan Sample

Template 11: Sales Action Plan T emplate for Online and Offline Channels

Increase your sales with the help of this strategic sales action plan for online and offline channels. It includes a comprehensive layout to tabulate the products and services to offer and the budgeted costs of in-store, online and wholesale channels. It will help you make informed calls regarding who you want to sell to, what your revenue goals are, and how you’re going to structure and prime your teams for success. Download it today to futureproof your business!

Sales Action Plan Template for Online and Offline Channels


A sales action plan is the easiest way to draft your objectives, strategies, and tactics in a way that your team can understand and work effectively to achieve success. It helps you identify likely obstacles and roadblocks so that you can come up with ways to bridge the gaps and overcome challenges.

Now you are aware of how to create a compelling and practical sales action plan, it’s time to put your knowledge into action by downloading these powerful PPT Templates.

FAQs on Sales Action Plan

What is a sales action plan.

A sales action plan highlights your tactics to achieve your sales goals, focusing on transactions and relationships that you can develop with customers. It gives information about who you want to sell to, what your revenue goals are, and how you’re going to prepare an effective team to achieve success. An effective sales plan should communicate your sales objectives and goals and outline the roles and responsibilities of the team. It should also be able to deliver strategic direction to your sales team.

What are the steps of preparing a sales action plan?

The ten crucial steps of preparing an effective sales plan are:

  • Identify yourself to customers; what do you stand for, and what do you offer
  • Identify prospects; who will or should buy from you and why? Be clear on this
  • Identify team members
  • Create an approach plan
  • Use the power of advertisements well
  • Invest in brand Development
  • Increase Network
  • Take Feedback
  • Update and develop Plan
  • Track Performance

Why having a Sales Action Plan is important?

A Sales Action Plan helps you give your sales team the guidance that they need to make smart business decisions. With a Sales Action Plan, you support your sales team members by addressing issues that are within your direct control, such as a lack of guidance and direction. Once you are in the game, improved results are a given.

A sales plan includes a strategy that works for your representatives and ensures that they have everything they need to follow to achieve the targets that are handed out. With a robust sales plan in hand, you’ll find that the meetings, demos, and closed deals will be natural results that will help enter the success cycle; most importantly, you will be able to stay there as well.

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10 Strategies to Increase Deposits at Your Community Bank

Knowing exactly how to increase bank deposits is the goal of every community bank’s marketing team, but sometimes it’s hard to know where to begin. There are so many ways to market your bank , and you may be wondering if some of your ideas are even worth trying.

Well, we’re here to tell you that yes, with the right plan it is absolutely worth it and that investing in your bank deposit gathering strategies is more important now than in the past decade due to rising savings rates.

The last time community banks had to proactively think about rising rate strategies was a few years before the 2008 crash, and according to The Financial Brand , there were three lessons to be learned:

  • Big banks only passed on a small portion of the Fed’s rate hikes.
  • Customer behavior changes when rates hit 2.5% and above.
  • Large banks were too slow to capitalize on the rising rates, which left room for more nimble banks to pick up customers.

It’s fair to say there’s a similar opportunity today for community banks with smart deposit gathering strategies to play ball with bigger banks. It’s easier to be proactive when you aren’t dealing with hundreds of thousands of customers, and you should use that to your advantage.

With that in mind, let’s cover 10 bank deposit gathering strategies you can use to increase your deposits.

10 strategies for driving bank deposits

1. analyze your best customers.

If you want to attract more of a certain type of banking customer, then you and your entire staff need to understand who they are and their motivations for working with a local bank.

Analyze your existing customers and figure out which demographic will be your focus for this quarter or marketing campaign and then write up a one-sheet outlining exactly how they currently find out about your bank and what services you offer that are most appealing to them. Then, brainstorm ways to connect those threads.

2. Raise your deposit rate

One of the simplest ways to become more competitive is to offer better rates. This isn’t the end-all of marketing strategies, but it is the one that speaks most plainly and has the easiest pitch.

Just remember that unless you’re dealing with customers with high volumes of cash, then chances are a rate may get a potential lead in the door but won’t keep them — your customer experience and ability to help them achieve their financial goals will.

3. Invest in your community

There are few better pitches than personal care and community integrity when comparing local institutions to national banks. By firmly investing back into your community with both actions and words, you can give potential customers a reason to choose you over a bigger bank, even if those banks have better rates.

A great way to put your investment in plain view is to understand and support your local customers. If you work with local business owners, see if you can partner on fundraisers or donate to local schools together. You could also experiment with offering adult financial classes to help people understand how to secure their future — there are many options to utilize.

4. Make sure your local SEO is up-to-date

There are a lot of laundry list items you can do from a digital marketing standpoint to help you stand out online, and one of the most important ones is making sure your local SEO is up to snuff.

SEO stands for search engine optimization, and it’s just making sure your site communicates with Google and other local directories in the best way possible. You can either hire someone to do this for you or try it yourself .

The biggest things to nail down are your Google Business page, collecting Google reviews, and making sure you’ve submitted your address and phone number to Google Maps, Waze, etc.

5. Use online advertising

While prices will be much higher in larger cities, you should definitely be playing the online advertising game. Setting up evergreen ad campaigns that bid for keywords on Google like “local bank near me” and “need to set up a checking account” can go a long way for lead generation.

Tie that into a custom landing page with a Facebook pixel to retarget people who click and boom! You have a set-it-and-forget-it bank deposit growth machine.

6. Make sure your website is responsive

Everything you do online has to be optimized for mobile these days. If it’s not, Google will downrank your site and younger demographics won’t convert as well.

Being responsive is just a fancy way of saying your site can be used and looks good on mobile. To learn more, go here .

An easy way to test if your site is responsive is to open it on your desktop, click the top right of the window, and drag it down to a small size. If your site automatically rearranges itself to fit within the window, then you’re set. If it starts cutting things off and looks bad, then you know you have work to do.

7. Tie in other services

Your bank should feel like a trusted resource. If your customers can rely on you for advice around important business decisions, then they are more likely to expand their business with you.

One way to do that is to build or partner with ancillary services that support your ideal customer. For example, if you work with a lot of business owners, you could partner with an entrepreneurship center to get discounts for your members or provide innovative merchant services via a partnership.

8. Partner with reputable businesses

On a similar note, finding the best businesses in your area and developing relationships with them can go a long way — especially if the services they provide frequently require financing.

For example, many credit unions and community banks partner with local car salesmen to offer seamless loan financing. When you partner with the right people, if a customer trusts them they will implicitly trust your business and view it as a trustworthy recommendation.

9. Segment your marketing

Marketing is all about specificity. When it comes to your marketing efforts, try to tie each initiative and plan to a specific demographic. That allows to you to be focused in your copy, emails, and all communications. The more you can speak to that customer persona’s specific needs, the more likely they are to convert to your bank.

You can also approach this from a product standpoint, so dividing your marketing efforts by student accounts vs. new business accounts, etc.

10. Offer additional incentive

Apart from the bigger picture deposit growth strategies, there are a variety of conventional ideas you can employ. Here’s a shortlist to get started:

  • Offer bonuses for signing up or referring people.
  • Offer progressive rates depending on the amount in an account.
  • Remove or eliminate overdraft fees.
  • Give members free checks.
  • Offer mobile deposits.
  • Don’t charge for transfers.
  • Make sure your online portal is easy to use and makes getting new accounts easy.
  • Offer free identity theft protection.

If you take the time to really build out a plan and execute it with a smart, analytical approach, then you will absolutely drive deposit growth for your bank. The ball is in your court now. Good luck!

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22 Best Sales Strategies, Plans, & Initiatives for Success [Templates]

Discover sales strategy examples, templates, and plans used by top sales teams worldwide.



Outline your company's sales strategy in one simple, coherent plan.

sales strategies initiatives and templates to plan your quarter

Updated: 03/07/24

Published: 03/07/24

A strong sales strategy plan creates the foundation for a cohesive and successful sales organization.

Sales strategies and initiatives also align salespeople on shared goals and empower them to do their best work — keeping them happy and successful, too.

In this guide, I’ll dig into some sales strategies and initiatives that I’ve found can help you generate more leads and close more deals. But first, let’s define what a sales strategy is.

Free Download: Sales Plan Template

Table of Contents

What is a sales strategy?

Why is a sales strategy important, the most effective sales strategies, sales strategy types, sales planning: how to build a sales strategy plan, sales initiatives, sales strategy examples from successful sales teams.

A sales strategy is a set of decisions, actions, and goals that inform how your sales team positions the organization and its products to close new customers. It acts as a guide for sales reps to follow, with clear goals for sales processes, product positioning, and competitive analysis.

action plan to increase bank sales

A clear sales strategy serves as a map for the growth of your business. Your sales strategy is key to future planning, problem-solving, goal-setting, and management.

An effective sales strategy can help you:

  • Give your team direction and focus. Strategic clarity can help your sales reps and managers understand which goals and activities to prioritize. This can lead to improved productivity and outcomes.
  • Ensure consistent messaging. Your sales strategy can help your team deliver a consistent message to prospects, partners, and customers. This can increase both trust and effectiveness.
  • Optimize opportunities. Strong sales strategies will help you target the right prospects and customize your approach. This can help your team make the most of every sales opportunity.
  • Improve resource allocation. Your sales strategy outlines your priorities and resources. In turn, this can help your sales team use their time, effort, and other resources more efficiently, boosting your team’s ability to focus on high-potential deals.

Next, let’s cover some of the sales strategies that I’ve found can be most effective.

action plan to increase bank sales

50+ for Social Selling on LinkedIn and Beyond

Use this guide to improve your social selling efforts and close more deals from platforms like...

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Click this link to access this resource at any time.

2. Become a thought leader.

Sharing your advice, tried-and-true best practices, and niche expertise are some of the most long-lasting ways to build your personal brand and lend more credibility to your organization. After all, nobody wants to feel like they’re being sold to. Instead, it’s better to help people by offering solutions to their problems.

That’s what thought leaders do. Indeed, a recent report found that “Thought leadership is one of the most effective tools an organization can use to demonstrate its value to customers during a tough economy — even more so than traditional advertising or product marketing, according to B2B buyers.”

According to the study, 61% of decision-makers believed that thought leadership could be moderately or very effective in demonstrating the value of a company’s products. Moreover, more than half of C-suite executives in the study believed that thought leadership has a greater impact on purchases during an economic downturn, making this an even more important element of a sales strategy in today’s uncertain economic times.

So what’s the catch?

Not all thought leadership content is created equal.

When done right, thought leadership can have a huge positive impact, but poor thought leadership can be devastating to a company’s sales goals. So, before you plan a spree of LinkedIn posts to drive leads, consider who your audience is, what they need to know, and how your organization can help.

Also, it may not hurt to have a second set of eyes from your marketing, communication, and PR departments review your plan first to make sure everything is on-brand (and trackable!).

3. Prioritize inbound sales calls as hot leads.

There’s an age-old question in sales: “Should I discuss product pricing with a prospect on the first sales call?” The honest answer is: It depends.

You and your sales team know your process better than anyone. So take it from me — if you’ve seen success with pitching with pricing first, last, or somewhere in between, stick with what’s working for you.

But beyond that, your team should always prioritize the prospects who come to you. These hot leads are definitely interested in what you have to sell, and before they make a decision, they want to get the information they need about how it will benefit them.

By prioritizing talking to these prospects as soon as they call in or send an email, you’re putting your best foot forward and showing them that you’re helpful, solutions-oriented, and considerate of their time. And if that means closing a deal on the first call, there’s nothing wrong with that — as long as the customer has the information they need to make an informed decision.

4. Properly research and qualify prospects.

I’ve personally discovered that even the strongest sales strategy can’t compensate for targeting the wrong customers. To ensure your team is selling to the right type of customer, encourage reps to research and qualify prospects before attempting to discuss your product. Indeed, throughout my career, I’ve found that more work on the front end can lead to smoother closing conversations later on.

Outline the criteria a prospect needs to meet to be qualified as a high-probability potential customer. These criteria will depend on your unique business and target audience, but they should generally be based on a prospect’s engagement history and demographics.

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Free Guide: 101 Sales Qualification Questions

101 Questions to Ask Contacts When Qualifying, Closing, Negotiating, and Upselling.

  • Budget Questions
  • Business Impact Questions
  • Competitor Questions

5. Implement a free trial.

Offering a free trial or freemium version of your product can be a highly effective way to convert prospects. In fact, HubSpot’s sales strategy report found that 76% of sales professionals feel that free trials are effective in converting prospects into paying customers, while 69% of professionals believe that freemium offerings are effective.

action plan to increase bank sales

Keeping a list of proven, go-to closing techniques will help salespeople routinely win deals. Some of my favorite techniques include the ‘now or never close’ — i.e., “If you commit now, I can get you a 20% discount” — or the ‘question close,’ i.e., “In your opinion, does what I am offering solve your problem?”

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Free Sales Closing Guide

An easy-to-use sales closing guide with three tactics you can use right away.

  • Using an ROI calculator for your prospects
  • How to ask confirmation questions
  • Sales question templates you can use today

To further improve your closing techniques and learn to close deals with confidence, check out this free, downloadable Sales Closing Guide .

11. Nurture existing accounts for future selling opportunities.

Once a deal is done, there’s no need for a sales strategy, right? Wrong.

Account management is an incredibly important part of the sales process, as this is how you foster loyal, happy customers and identify cross-selling and upselling opportunities.

So, after your sales team sees success with its sales strategy, it’s vital to form a partnership between the sales team and customer service/success teams.

Remember: Ensuring customers’ continued satisfaction with your product or service will make them more likely to do business with your company again. You may even inspire them to advocate for it proactively.

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Biden administration revs up plans to transition from gas-powered vehicles to EVs

A parking spot labeled "Electric vehicle charging only" with an EV graphic, in front of two charging stations in a dark lot

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The nation’s slow transition to electric vehicles got a boost Wednesday when the Biden administration announced it had finalized the strongest-ever pollution standards for cars and light trucks.

The Environmental Protection Agency rule, which would begin taking effect with model year 2027, would require car manufacturers to increase sales of electric vehicles while cutting carbon emissions from gasoline-powered vehicles.

EPA Administrator Michael S. Regan said at a news conference that the rule marks the “strongest vehicle pollution technology standard ever finalized in United States history.”

“These technology standards for model years 2027 through 2032 will avoid more than 7 billion tons of carbon pollution,” Regan said. “That’s four times the total carbon pollution from [all] transportation in the year 2021. Cleaner vehicles and lower emissions mean so much to the people across this country.”

Transportation is the largest source of greenhouse gas emissions in the United States, including in California. The new EPA standards would represent a nearly 50% reduction in average projected greenhouse gas emissions levels for light-duty vehicles and a 44% reduction for medium-duty vehicles, the agency said in a statement.

A man in a black T shirt and sunglasses attaches an electric charging pump to his blue Kia EV6 vehicle.

Climate & Environment

Can California pull off the epic transition to EVs? Read our coverage here

California has ambitious climate goals, including a pledge to ban the sale of new gasoline- and diesel-powered cars and light trucks by 2035.

March 29, 2024

The rules are also expected to reduce health-damaging soot emissions from gas cars by more than 95% — a move that could improve air quality in cities like Los Angeles where many homes are near freeways.

In many ways, the federal rule follows the lead of California, which has been a pioneer in efforts to eliminate reliance on gas-powered cars. In 2022, regulators announced they would halt the sale of new gas cars in the state by 2035.

Twelve states and Washington, D.C., have chosen to adhere to California’s more stringent rules. Along with California, the group accounts for roughly 33% of the nation’s new car registrations, according to state officials.

American Lung Assn. President and Chief Executive Harold Wimmer applauded the Biden administration’s move as a “critical step to address climate change and reduce air pollution.” Still, Wimmer said, the EPA has more work to do to reduce emissions, particularly from heavy-duty vehicles including freight trucks and buses.

When soot, or fine particulate matter, is inhaled, the microscopic pollution not only aggravates the lungs and raises the risk of respiratory disease, but it also can travel into the bloodstream, where it can trigger stroke or heart attack.

“Trucks represent a small fraction of total on-road vehicles but generate the greatest share of harmful air pollutants,” Wimmer said. “Reducing emissions from both cars and trucks is critical to improving public health, advancing health equity and addressing climate change.”

The EPA rule does not ban vehicles with internal-combustion engines. While the rule is expected to increase electric vehicle sales nationally, car manufacturers have autonomy in deciding how to meet the reduced emission standards. They could achieve the standards by selling more hybrid cars or improving the efficiency of gas-powered engines.

The final rule also gives car manufacturers more time to phase in pollution limits than the EPA had proposed last year. Under that more ambitious plan, electric vehicles would have accounted for 67% of all new passenger cars sold in the U.S. by 2032.

John Bozzella, president and CEO of the auto manufacturing trade group Alliance for Automotive Innovation, said that while automakers are committed to transitioning to electric vehicles, the pace at which it happens is crucial for those companies.

“Moderating the pace of EV adoption in 2027, 2028, 2029 and 2030 was the right call because it prioritizes more reasonable electrification targets in the next few very critical years of the EV transition,” Bozzella said. “These adjusted EV targets — still a stretch goal — should give the market and supply chains a chance to catch up. It buys some time for more public charging to come online, and the industrial incentives and policies of the Inflation Reduction Act to do their thing.”

News of the EPA rule comes on the heels of an agreement between the California Air Resources Board and vehicle manufacturing giant Stellantis. Under the agreement, the company is to abide by state requirements that zero-emission vehicles account for a growing share of sales in California through 2030, even if the policy is challenged in the courts or by federal action.

PALM SPRINGS , CA - JANUARY 19: Ralph Megna (cq), of Landers, owner of a 2023 Ford F-150 Lightning electric pickup, is upset about the sad state of public charging, at a Electrify America charging station on Friday, Jan. 19, 2024 in Palm Springs , CA. The State of California has spent more than a billion dollars on a public charging system that is unreliable, and so instead of encouraging EV ownership, works against it. (Gary Coronado / Los Angeles Times)

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Zero-emission cars represent about 7.6% of vehicles sold today in the United States, up from nearly 6% in 2022 and just over 3% in 2021. They remain the fastest-growing car sales category, according to Kelley Blue Book.

In California, electric vehicle sales dropped significantly in the last half of 2023 for the first time in more than a decade, a phenomenon experts attributed in part to unreliable charging technology, higher prices for zero-emission vehicles and concerns about vehicle range. Still, California has more electric cars on its roads than any other state, with electric vehicles making up 20.1% of its new car sales.

Electric vehicle sales growth also has slowed nationally as automakers such as Ford and General Motors have cut back for the moment on EV and battery production plans.

Hertz is also pulling back on its plan to shift toward EVs. The rental car company had announced plans several years ago to buy 100,000 Teslas, but in January said it was selling its EV fleet, citing higher expenses for collisions and damage involving the vehicles.

The National Automobile Dealers Assn., which represents more than 16,000 car and truck dealerships, was among the automotive trade organizations that expressed concern over the federal requirements. The new targets, they say, don’t reflect the demand for electric vehicles.

“The EPA’s final rule remains too aggressive and far ahead of consumer demand,” Mike Stanton, the association’s president and CEO, said in a statement. “Our experience working with consumers every day makes us highly skeptical that consumers will adopt EVs anywhere near the levels required. The charging infrastructure is not ready, the current incentives are not sufficient, and high EV prices will price out millions of consumers, particularly low-income Americans, from the new-car market.”

But environmental activists say the EPA’s move is necessary to combat climate change. Amanda Leland, executive director of the nonprofit advocacy group Environmental Defense Fund, said at a news conference that the EPA rule will cut air pollution and bring more choices and savings to consumers.

“The future is electric,” she said, “built on a shared pollution-free vision grounded in economic prosperity, job growth and consumer savings. So today we continue on our journey for a better, healthier world.”

Due to its historic air pollution woes, California is the only state that can adopt its own vehicle emissions standards, with federal approval.

Last year, state air regulators adopted a rule to eventually phase out heavy-duty trucks and locomotives that burn fossil fuels. But the EPA has yet to sign off on the rule, delaying its implementation.

Set to start this January, the rule was to prohibit the registration of new gas- and diesel-fired cargo trucks that operate at California ports and rail yards. That would have effectively ensured that all new heavy-duty vehicles taking part in the state’s bustling movement of goods would be zero-emission vehicles.

Toward a more sustainable California

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action plan to increase bank sales

Hannah Fry covers breaking news for the Los Angeles Times. She most recently covered Orange County for The Times and has written extensively about criminal trials, housing, politics and government. In 2020, Fry was part of the team that was a Pulitzer finalist for its coverage of a boat fire that killed 34 people off the coast of Santa Barbara. Fry came to The Times from the Daily Pilot, where she covered coastal cities, education and crime. An Orange County native, Fry started her career as an intern at the Orange County Register.

action plan to increase bank sales

Tony Briscoe is an environmental reporter with the Los Angeles Times. His coverage focuses on the intersection of air quality and environmental health. Prior to joining The Times, Briscoe was an investigative reporter for ProPublica in Chicago and an environmental beat reporter at the Chicago Tribune.

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LOS ANGELES, CA - JULY 20: Maria Menjivar, center, owner of Las Palmitas Mini Market, flanked by granddaughters, Sarai Palacios, 14, left, Natalia Palacios, 9, right, Navor Herrera, far left, and Angelica Menjivar, owner with mother Maria, pose for a photo at Las Palmitas Mini Market where a $1-billion Powerball ticket was sold in downtown on Thursday, July 20, 2023 in Los Angeles, CA. The winner, who remains unidentified, purchased their ticket at Las Palmitas Mini Market at East 12th Street and Wall Street. (Gary Coronado / Los Angeles Times)

Winner of $1-billion Powerball has been revealed. Another jackpot is up for grabs


  1. Top 10 Sales Action Plan Templates with Samples and Examples

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  2. Sales Action Plan Template Word

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  3. Sale Action Plan Template ~ Addictionary

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  4. Business Plan To Increase Sales Template

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  5. Sales Action Plan Template Download Printable PDF

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  6. Sales Action Plan To Boost Top Line Revenue Growth And Increase

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  1. Bank Sales Management

    More Focused Sales Management. Sales managers (from line-of-business head to sales team leader) must decide how their teams will "play the game." Since all product suppliers in the bank are competing for sales force mind-share, the sales managers must set a strategy and priorities for sales force attention.

  2. 7 Common Sense Ways to Increase Bank Cross-Selling

    7 Updated Common Sense Ways to Increase Banking Cross-Sales. 3. Continually Evaluate Upsell Opportunities. Rather than using product-driven programs that are done seasonally, consider funding more customer-focused programs that evaluate each customer's propensity to open one or more of the products and services you offer at the time they ...

  3. 9 Keys to Bank Branch Sales and Service Success

    3. Steer lobby traffic for routine transactions to other channels. Educating customers about their options for convenient self-service online and via mobile access and for customer assistance through the call center can help to streamline branch traffic to improve service there. 4. Recognize and minimize privacy concerns.

  4. Boost Bank Sales: Proven Strategies for Profitability

    Assume that a bank currently has 100,000 customers and expands its digital banking platforms, resulting in a 20% increase in customer acquisition and a 10% decrease in branch-related expenses. If the bank's average annual revenue per customer is $500, the impact on sales and profits can be calculated as follows: Impact on sales:

  5. 9 Banking Sales Strategies To Increase Profits

    Here are nine banking sales strategies that can help your business grow. 1. Develop a Banking Niche. Focus on a specific banking niche and develop sales strategies specifically for that market. This could be businesses in a specific industry, individuals with certain professions, or customers with particular financial needs.

  6. [5] Tips

    3. Invest (more) in sales and onboarding automation. Despite the title, many banks appear to be heading in two different directions with respect to technology investments to support sales activities. On one hand, the piggy bank has been smashed open to fund KYC/BSA/AML initiatives over the past five years.

  7. Successful Sales in Five Simple Steps

    Step 2: Aim directly for the audience. For some banks, this one should be easy. Financial institutions with rural branches, for example, have the advantage of employing local salespeople. Then the challenge is simply to recognize the opportunity to engage a potential client. Imagine this: you are in line at the grocery store picking up a few ...

  8. Six strategies for improving banks' operating efficiency

    Following are six strategic areas where today's industry leaders are focusing their efforts. 1. Business realignment. The basic premise of business realignment is to exit business lines that have low margins and move instead into lines that are inherently more cost-effective and increase bank profitability.

  9. Tips and Tricks to Fix Banking's Broken Sales Model

    The Solution: Start with a Sales Strategy Grounded in 5 Key Principles. New consumer and industry trends require new sales strategies. For example, declining branch traffic matters because branches are historically where most bank and credit union sales have occurred. Moreover, the competitive landscape is more intense.

  10. How to Create a Sales Culture and Process at Your Bank

    But in order to grow, they must implement a measureable sales process once and for all. Take these steps to get the process started: Focus on the buying process at the point of sale. When the first account is opened, it often falls far short of revenue potential. Most business customers are eligible for up to seven income generating products ...

  11. Improve Bank Performance & Operations

    Improve Staff Mobility & Accountholder Convenience. "In an industry built on having human connection at branches, the coronavirus pandemic has and will continue to change the way [people] interact with their bank or credit union," said Connie Hancock, Technical Product Manager at Jack Henry SM. By offering branch employees a modern mobile ...

  12. How to Craft a Winning Sales Action Plan [ + Templates]

    Step 4: Input Necessary Data. The next step is to input crucial sales data into the sales action plan. You can leverage Visme's data visualization tools to convert complex data into concise and easily understandable visuals. You can access a wide range of graphs, charts, tables and data widgets in Visme's library.

  13. What is an Action Plan & How to Write One [With Examples]

    An action plan is a detailed outline that breaks down the steps necessary to achieve a specific goal. Here are the typical components of an action plan. 1. Objective or Goal. The cornerstone of your action plan is the objective or goal. This should be a clear and concise statement outlining the desired outcome or result.

  14. 17 Sales Goals Examples

    Increase customer acquisition rate by 10%. Reduce customer defection rate by 3% in the next year. Reduce the churn rate to 5%. ACV of $180k per sales rep in 2024. Make 40 cold calls per day. Reduce response time to a maximum of 4 minutes. In the subsequent sections, we will discuss sales goals examples in detail.

  15. Bank Sales Management

    These coaching disciplines drive sales results and ensure the appropriate balance between new business development and account retention activities. Sales managers' expectations, coupled with feedback and consequences, change sales behaviors. In each weekly, monthly, and quarterly conversation, the manager and RM compare "business planned ...

  16. Specific Action Plan and Steps Taken by Bank Management

    The following includes strategic steps that were implemented to improve the management process of bank operations. 1. Open and review all incoming and outgoing mail and faxes. The first step taken by the new management was to find out where the bank was, and what was going on in its day-to-day operations.

  17. 10-Step Sales Action Plan to Crush Quota

    Here are just some of the crucial activities that should appear in a strategic sales plan. 1. Identify Your Ideal Clients. If you want to achieve success in any aspect of your sales strategy, you need to start by identifying the people that you want to target. Get together with your sales team and ask:

  18. Create an Effective Action Plan in 6 Steps [2024] • Asana

    Step 6: Monitor and revise your action plan. Your ability to stay on top of and adapt to changes is what makes you a great project manager. It's crucial that you monitor your team's progress and revise the plan when necessary. Luckily, your action plan isn't set in stone.

  19. How To Create Your Sales Action Plan (Free Template!)

    Create a timeline and milestones. List out 3 milestones to strive towards. Start with the last milestone, and make it long term (1 year or more) to envision the future. Then from your long-term milestone, build out the other 2 milestones that add up to it. Let's say for example that your long-term milestone is to close 30 deals this year, and ...

  20. Top 10 Sales Action Plan Templates with Samples and Examples

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