Presentation deck from a March 22nd, 2012 webinar in which Fifth Third Bank shared their story of how they worked with Forum to implement a customer focused sales strategy.

1. SMA Webcast
Fifth Third Bancorp: How to Execute a
Customer Focused Sales Strategy
March 22, 2012
Presented by
© Copyright 2012 The Sales Management Association.

2. About the Sales Management Association
A global, cross-industry professional association for sales
operations and sales management.
Focused in providing research, case studies, training, peer
networking, and professional development to our membership.
Fostering a community of thought-leaders, service providers,
academics, and practitioners.
Learn More: www.salesmanagement.org
© 2012 The Sales Management Association . All rights reserved. Slide 2

3. Today’s Speakers
Jeffrey Baker
• 14 years with Forum selling and consulting to clients
• VP Worldwide Customer Care for Intervoice-Brite (now Convergys)
• Manager of Services Products for global channel partners at PictureTel (now
Polycom)
• Sales Director Major Accounts New England, Siemens Communications
Christine Nester
• Joined Fifth Third Bank in 2010 as the Director of Performance Consulting
• Supports all Lines of Business
• Previously spent 13+ years with Fidelity Investments in variety of roles
• Vice President of Learning and Development
• Regional Vice President of Relationship Management
3
© 2012 The Sales Management Association . All rights reserved Slide 3

4. Purpose and Agenda
 Purpose: to introduce a model for managing sales force effectiveness
and a case study to illustrate it, so that sales leaders can use this tool
to assess and improve their own organizations
 Agenda
– Introduction
– What do we mean by sales force effectiveness
– The Forum model for understanding the elements of sales force
effectiveness
– Fifth Third Bank case study
– Questions and Answers with webinar audience
www.forum.com

5. Fifth Third Challenges
 2008 Financial meltdown
 2009 Focused on end goal: The Top Performing Bank in
the Top 25
 2010: very low number of products/household
 Operating in silos
 Undifferentiated products
www.forum.com

6. Polling Question
What grade do you think your CEO would give
your sales organization?
oA
oB
oC
oD
oF
www.forum.com

7. CEO’s Grade Their Sales Force
C-
CEO‟s top issues with their sales force:
1. Speed
2. Calling too low
3. The sales force can‟t tell the story
4. We have the wrong people
Source: George Colony, CEO of Forrester Research
http://blogs.forrester.com/george_colony/11-03-01-ceos_want_better_sales_forces
www.forum.com

8. Top 3 Objectives for Chief Sales Officer’s
for the Next 12 Months
Half of the CSO‟s surveyed rate sales effectiveness as one of the top three objectives
What are the top THREE objectives you have for your sales organization for the
next twelve months?
Increase Revenues 61.9%
Increase Sales Effectiveness 49.5%
Capture New Accounts 41.7%
Improve Up-selling/Cross-selling 31.7%
Improve Customer Loyalty/Satisfaction 31.7%
Improve Margins/Reduce Discounting 18.5%
Optimize Lead Generation 16.1%
Reduce Administrative Burden on Sales Force 15.1%
Improve Team Selling 11.5%
Reduce Cost of Sales 9.2%
Reduce Sell Cycle Time 6.9%
Increase Reorder/Renewal Rates 6.9%
Other (please specify) 3.2%
Source: CSO Insights - 2011 Sales Performance Optimization Study (over USD 1B revenue)
www.forum.com

9. What Do We Mean by
“Sales Force Effectiveness”
Effectiveness is the degree to which a sales organization can:
 Consistently meet and exceed its financial targets
 Effectively articulate and deliver distinctive value to
customers
 Adapt quickly to changes in strategy
 Continually renew and grow its capacity to perform
Central Questions for the Chief Sales Officer:
 How do I determine where to invest to optimize returns?
 What‟s my business model?
 Which “levers” are most important now to driving my sales strategy?
www.forum.com

10. Essentials of Sales Force Effectiveness
Marketing Department Marketing Communications
Structure Talent
 Value
Proposition
Sales
 Account & Sales People
Managers
Sales Territory Markets
Business Assignments
Strategy Strategy &
 Sales Force Customer Customer
Customers
Size & Service Service People
Structure Managers
 Compensation
Plan
Customer Knowledge (VOC) & Business Intelligence
Processes and Standards
Metrics and Feedback
www.forum.com

11. Marketing Department Marketing Communications
Business
Strategy Sales Strategy Structure Talent
Top Performer
“One Bank” • Alignment
in Top 25 • Engagement
One Bank Value Sales and Service Centers of Markets
people most Proposition: Excellence &
value and trust Better Comp Plan: • Coaching Skills Customers
Listening, Shift to Team • Consultative Selling Skills
Solutions, Rewards • Service Skills
Ideas, • Measurement & Feedback
Commitment
Customer
Customer Knowledge
Experience Index
Processes and Standards One Bank sales process
Metrics and Feedback Impact Workshop
www.forum.com

12. Voices From the Front Lines
“The customer came in to exchange
One of the best training sessions I foreign currency and open an account
have attended here. Lot of great with us, and left excited about the
tools to keep this going‟ financial plan he now has in place.”
- Retail Regional Manager - Customer Service Rep
“This is an „AHA!‟ moment – struggle with
“I hit 176% of quarterly goal in
looking at same deals in the same place in
less than 1 month after skill
pipeline month-after-month. This
training and brand release.”
(exploring consequences and payoffs) is
- Personal Banker – with Fifth Third what we need to move deals.”
less than a year
- Market Manager, Business Banking
www.forum.com

13. Business Results
 Customer Contact Center
 329% increase in sales of complex
products
$
 Retail Direct Sales (inside sales teams):
 Highest sales/hour month in outbound
selling since 2006
2011 2012
 Business Banking Group
 12% increase in Customer Experience
Index (CEI) survey question:
Has your Relationship Manager presented
a new business solution or idea to your
company in the last 12 months?
www.forum.com

14. Key Drivers to Our Success
1. Senior Leadership
2. Strategic Focus (One Bank)
3. Aligned strategy with behaviors
4. Aligned compensation with behaviors
5. Equipped sales managers to lead strategy
6. Equipped sales people to execute
7. Monitor progress & adjust
www.forum.com

15. Lessons Learned About Driving Sales
Strategy and Sales Effectiveness
 Create a mindset of investing in people
 Communicate continually to achieve strategy
clarity and alignment
 Ensure managers own daily execution
 Collaborate at every level
www.forum.com

16. Thank You.
© Copyright 2010 The Sales Management Association