From the course: Selling into Industries: Financial Services
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Industry trends
From the course: Selling into Industries: Financial Services
Industry trends
- So what keeps you up at night? You shouldn't need to ask your clients that question. You should already know. You should already understand the key issues and trends facing your client's industry. When you're selling to financial institutions there are a few key trends that you need to be aware of. The first is trust. Trust is imperative for any relationship, personal or business. But unfortunately, trust in financial institutions is on the decline. The banking scandals surrounding fraudulent accounts and overcharging customers have painted a picture of an industry rife with ethical lapses in the eyes of consumers. So even if the company you're calling on hasn't had a scandal, they're probably facing a level of skepticism out in the market from their customers. Now the impact of low trust can be high customer churn externally and low morale internally. The second trend in the financial services industry involves the customer experience. It's often in response to the first trend…
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