How financial businesses can benefit from using Mercuri International

Winning, keeping and growing customers

Overview Our financial sector clients choose Mercuri International to help them win, grow and keep clients.

In the financial sector we are able to demonstrate a strong track record of RoI, in a rapidly changing world, where organic growth is crucial, but selling has to be done in a way that fits with regulation and enhances reputation.

By working with Mercuri International you can be confident of balancing both opportunity and risk management.

What to use Mercuri for Our focus is clear: “win, keep and grow clients” In practice that means • Relationship management • Selling • Sales Management • Strategic Account Management • Negotiating • Presentation and pitching skills • Customer service • Managing internal relationships • Sales campaigns e.g. product launch/re-

launch, sector campaigns • How good selling avoids mis-selling and

manages risk • Bespoke programmes

Who uses Mercuri? Corporate and commercial banks Retail banks Wealth management Insurance – Life & non-Life Investment Private Equity Asset backed lending Professional Services Direct and intermediated distribution Sales leaders Relationship management Business Development Customer Service

More about Mercuri International

Mercuri International

equips financial businesses,

their leaders and their

people to…

Win clients

Keep clients

Grow clients

A quick insight into Mercuri in the changing world of sales

http://www.mercuri.net/content/mercuri-international-corporate-presentation

A short video showing our sector view and why our clients use us

https://vimeo.com/43178969

www.mercuri.net

Richard Higham, Global Practice Leader Tel: +44 7712 588757 Email: richard-higham@mercuri.co.uk

We use a blended approach to developing customer-facing people. This is both more effective and more efficient than more narrow traditional methods and has been made possible by advances in technology which have been leveraged by our dedicated Mercuri team. This blended approach is based around our strong five step methodology.

How we work

The Financial & Professional Services Sector is a key focus sector for Mercuri International.

Globally each year Mercuri International works with 240,000 participants in 18,000 workshops for 15,000 companies.

This includes working with 50% of the world’s top 50 financial institutions over the past 10 years.

Participants rate us highly. E.g. 99% of 350 corporate bankers would recommend the Mercuri “Relationship-based Negotiating” programme to a colleague. Overall rating 4.84/5.

They change their opinions when they learn with us: e.g. 24% improvement in confidence over 6 months.

They change the way they work when they learn with us: e.g. double the number of new business presentations made in the 6 months following a Compelling Selling programme

The results improve when they work with us: e.g. 41 pensions consultants generated £1.92Mn of incremental business in the 3 months following a “Professional Selling” programme

Our track record

If you are considering any project to improve the way you win, keep or grow customers then Mercuri International is an obvious provider to speak with – high impact, high quality, high reputation.

“Provides outstanding service, and a proven track record for delivering superior sales training and improving the impact of the sales organization.”

“We believe that Mercuri is an excellent choice for a strategic, long-term partner to help an organization evolve its selling strategy.”

Contact at Mercuri International

Raising the Bar: Taking client-facing skills to the next level

2 ½ day high intensity simulation

Background One of the best ways to develop powerful effective selling skills is to put them to the test and then find ways to take them up a level. Mercuri International’s Raising the Bar workshops have helped professionals from across the financial & professional services sector do just that.

Instead of starting with theory and moving to application, Raising the Bar is all about learning by doing.

Small teams compete to win business from a simulated client over series of meetings from first exploratory contact, through getting to the real issues, putting forward a solution and handling concerns and challenges to gain commitment. The scenarios are specially designed for you. A high-energy, enjoyable and stimulating way to lift the business result.

Topline summary Can be a stand alone event or as a final event for the Professional Selling programme.

Pre-workshop contact and content to set the scene

Opening briefing for teams to introduce the scenario

Teams carry out meeting one – initial contact

Debrief and agree learning points

Teams carry out meeting two - understand , quantify and qualify the client's requirements

Debrief and agree learning points

Between meetings teams work on live sales issues

Build relationship and prepare for meeting three

Teams carry out meeting three – communicate the offer

Debrief and agree learning points

Teams carry out meeting four – handle objections and gain commitment

Final presentations and winners announced

Agree individual and group actions

Practicalities Options to run this programme either as a 2 ½ day session for groups of 12 with 2 facilitators to provide detailed feedback or as an even more intensive 1 ¼ day session with a larger Mercuri team.. This option increases investment but reduces lost opportunity cost and operational impact.

A library of proven Mercuri scenarios already exists. These can provide a starting point for your specific situation. The relevance and credibility of the scenario is all important and should be co-developed.

Teams should work on live sales issues during the programme.

Where possible your own sales leaders support the coaching.

Participants and leaders have said: “The knowledge of top relationships has increased radically. We’ve never known them better than we do now.” Taxation Partner and Relationship Leader “Delivered and executed to a very high standard. High pressure but a lot of fun, with lots to take away & apply”. Head of SME Banking “A great two days of learning. I don't think that I have ever learnt more on a previous course and all can be used straight away.” RM Large Corporate Banking “This is a course that will produce better performance quickly, allow individuals to recognise performance improvements, sharpen & improve good performance & build on team-work to achieve results.” Director Asset-Backed Lending “Categorically the best training we’ve ever done. My people are still talking about it and using it. I learned a huge amount about my people and we’ve seen real improvement” MD Private Equity

Some results 102% year on year income growth for 12 teams

compared to 25% for a control group

Took a targeted relationship from <£1mn to >£30mn p.a. over a three year period

Won the first piece of business immediately following attendance on Raising the Bar

A project commissioned by a private equity house generated an incremental $1.67Million of gross profit in the first 30 days and “our best quarter in seven years”.

Relationship-based financial negotiating

Blended learning programme with 2 day workshop

Background This programme has been run extremely successfully for over 400 Relationship Managers, Directors and salespeople across the sector from corporate banking, through real estate to investment sales and risk management.

It is a highly interactive programme with three major negotiation practice sessions. One is a generic scenario but the two main sessions use scenarios created specifically for the audience and reflect current business issues e.g. margin, exposure, ancillary business, ratios.

Topline summary Before attending the workshop, participants select from a range of pre-work – articles, podcasts etc. and complete a negotiating questionnaire

Kick-off negotiating session “Ambrosia & Uturpia”

Introduction and personal objectives from questionnaire

The 5 step Relationship-based Negotiating Model

1. Understand your relationship goals

2. Assess the situation and create context

3. Plan your offer

4. Manoeuvre and bargain

5. Move forward

2 Practice sessions using business-specific scenarios

Make it happen – action planning

Practicalities This programme runs over 2 days for groups of 12 with 2 facilitators to provide detailed feedback.

It has also been run for larger groups with extra observers (Mercuri or client). It can be run in 1 and 3 day formats and integrated with other input e.g. legal or financial.

A library of proven negotiating scenarios already exists. This provides a good starting point for creating business – specific scenarios.

The training requires a main room and segregated breakout rooms/areas for the negotiations.

Participants have said: “My preparation is much more geared to negotiation. I listen more in meetings giving time for the client to express themselves. I look for positive outcomes rather than just brick-walling with barriers.”

Bank Relationship Manager

“I better understand the power in negotiations and appreciate the customer objectives better than previously. Additionally I approach negotiations with several options where possible as opposed to one.”

Real Estate Finance Specialist

“I am now more confident and not afraid to challenge and negotiate. I’m more comfortable explaining reasons why the Bank may insist upon certain conditions or rates etc.” Corporate Bank Relationship Director

And their leaders have said

“I am really delighted with the response to this programme. Without doubt it is the most appropriate and effective programme we have delivered” Strategy Director

“Excellent!” Head of Professional Services Sector

”

Some results 99% of all participants would recommend to a

colleague

95% described content as highly relevant or relevant

The 18% who said they were not confident negotiating on behalf of their firm dropped to only 3% three months after the training.

Before the training over 70% said they found it difficult to read the other side’s ploys. This dropped to under 30%

Over 100 examples of positive changes in behaviour after 3 months

Over 50 examples of RoI after 3 months e.g. >£1m reduced exposure >2% margin improvement Refinance and increase income by £132k

Strategic Thinking and Leadership Development

2 day Experiential Business Simulation

Background The financial sector by it’s nature can sometimes look purely at the numbers and forget about the people making the decisions that create the numbers. We can assume that poor or unexpected results come from bad decisions or ill judgement. Increased operational success for us lies in realising that this is not necessarily the case.

Topline summary Six capital-intensive companies are competing for customers in a highly competitive, rapidly changing marketplace. Participants take on the role of the management team – comprised of finance, production, marketing and corporate intelligence. Their challenge is to make the right investments at the right time and to get the required return. Teams manage the strategic, operational and financial variables that will help lower costs and penetrate new markets. Tough investment decisions lie ahead: • Invest now…or later? • Pursue all markets… or just a few? • Take the lead… or be an early follower? • Borrow money… or earn it first? • Stick to the basics… or pursue the cutting edge? Teams learn to better utilize financial statements and financial ratios as planning tools to boost productivity and profitability over a 10-year period. Working together, they increase their awareness of the complex nature of inter-departmental financial relationships. And in the process, they understand what it takes to pull in the same direction – as well as how to bring their new skills and insights into reality.

Practicalities This programme runs over 2 days for up to 24 people in 6 teams of 4 with 2 facilitators to provide comprehensive facilitation.

After a short introduction as to the mechanics of the game, the 2 days are filled with the teams own business activity.

Everything they decide to do, in each financial year, is recorded in their workbook and at the end of the year the team has to produce a Profit and Loss report and balance their Balance Sheet.

The training requires a large room with a large circular table for each team playing the game.

Participants have said: “The simulation was facilitated in a very professional manner and was the most engaging program I have done during my time in the bank”

Bank Relationship Manager

“A variety of different points of view. Insightful.”

“ Totally engaging, always open to questions and created the opportunity to spark “

And their leaders have said

“All presenters showed great enthusiasm and were deeply engaging. Great energy and I am really delighted with the response to this programme.” Director

Some results 100% of all participants would recommend to

a colleague

100% said they were very confident or confident that they would be able to apply their learning in their role

100% said they were completely satisfied or very satisfied with this learning event

Key Results • Heightened business literacy and financial acumen. • Deep understanding of the overall business impact of financial decisions. • Alignment around the “big picture” and a deeper level understanding of strategy. • Increased responsiveness to internal and external customer needs. • Improved productivity through better teamwork, communication and coordination. • Better decisions for optimal allocation of resources.

Sales Management: Lifting sales performance Blended learning: workshop and on-line

Background Leading a sales team in the financial sector is neither simple or easy. As well as the challenges faced by sales leaders in other sectors, there are issues of risk, exposure, capital utilisation and regulation to face. Then there is the relentless pressure on time!

Mercuri International have been developing sales managers around the world for about 50 years. The financial sector team have applied this broad-based expertise to the specific needs of sales leadership in the financial sector.

This blended programme is centred on a two day workshop and uses a range of innovative approaches to enhance both efficiency and effectiveness.

Topline summary Before the training, participants view a compelling video from a business leader, identify their current levels of expertise, identify areas for growth and gain a quick overview of the programme.

The two day workshop is highly participative and focuses on motivating and equipping managers to change the way they lead their sales teams.

Turning the business plan into the sales result by managing activity and competence. Using three levers to deliver the result.

Motivation – encouraging “the willingness to perform”

Improving sales performance – getting the best from top performers, “the mighty middle” and under-performers.

One-to-ones. More than a chat less than an appraisal

Joint visits /co-listening– the most powerful tools available to the sales leader?.

Sales team meetings – how to make them productive and valued

Implementation – participants practice and critique the way they will communicate one key element of their action plan to their sales team.

Following the workshop participants receive weekly on-line follow up helping them implement and deepen one element of the programme per week

Practicalities The workshop is usually run over 2 days. Participants receive their on-line pre work 1-2 weeks before the workshop. They then receive the on-line post-work modules at the rate of one a week for a month following the workshop. Each module involves approximately one hour of work. A range of implementation support tools can be made available. The programme can be adapted for major corporate mid-market, SME and retail situations.

“The Mercuri trainer really understood our business” “It’s amazing what we can still learn” “There is much that we think we know but need to remember to do!” “Immediately applicable back into the business” European Wealth Management Sales Leadership Team “Your trainer delivered a great course, quickly winning the respect and trust of the sales leaders in the room creating an environment where they were challenged and able to apply the learning. I received feedback from the participants after the training saying it was some of the best training they had ever received and it had been a great investment of their time..” Academy Head Corporate Bank “The whole workshop makes us realise that there are always areas to improve. We think we know these things but we now realise we are not mastering these ideas. This is really helpful and makes us want to improve.” Team Leader Institutional Banking

Some results “Mercuri International has made a significant contribution to our sales management, our sales skills and our sales processes. Their innovation, industry understanding and delivery have helped us build the sales culture across the wide range of businesses that make up the bank” Head of Corporate Sales Top 20 global bank

Some responses

Strategic Thinking and Leadership Development

2 day Experiential Business Simulation

Background The financial sector by it’s nature can sometimes look purely at the numbers and forget about the people making the decisions that create the numbers. We can assume that poor or unexpected results come from bad decisions or ill judgement. Increased operational success for us lies in realising that this is not necessarily the case.

Topline summary Six capital-intensive companies are competing for customers in a highly competitive, rapidly changing marketplace. Participants take on the role of the management team – comprised of finance, production, marketing and corporate intelligence. Their challenge is to make the right investments at the right time and to get the required return. Teams manage the strategic, operational and financial variables that will help lower costs and penetrate new markets. Tough investment decisions lie ahead: • Invest now…or later? • Pursue all markets… or just a few? • Take the lead… or be an early follower? • Borrow money… or earn it first? • Stick to the basics… or pursue the cutting edge? Teams learn to better utilize financial statements and financial ratios as planning tools to boost productivity and profitability over a 10-year period. Working together, they increase their awareness of the complex nature of inter-departmental financial relationships. And in the process, they understand what it takes to pull in the same direction – as well as how to bring their new skills and insights into reality.

Practicalities This programme runs over 2 days for up to 24 people in 6 teams of 4 with 2 facilitators to provide comprehensive facilitation.

After a short introduction as to the mechanics of the game, the 2 days are filled with the teams own business activity.

Everything they decide to do, in each financial year, is recorded in their workbook and at the end of the year the team has to produce a Profit and Loss report and balance their Balance Sheet.

The training requires a large room with a large circular table for each team playing the game.

Participants have said: “The simulation was facilitated in a very professional manner and was the most engaging program I have done during my time in the bank”

Bank Relationship Manager

“ Totally engaging, always open to questions and created the opportunity to spark “

And their leaders have said

“We found it to be profoundly valuable. By experiencing the positions of senior management, our sales people gained a newfound appreciation for what our customers experience in their jobs and developed a greater ability to talk the customer’s language. We require every representative to take this training. It was exceptional.” Director

Some results 100% of all participants would recommend to

a colleague

100% said they were very confident or confident that they would be able to apply their learning in their role

100% said they were completely satisfied or very satisfied with this learning event

Key Results • Heightened business literacy and financial acumen. • Deep understanding of the overall business impact of financial decisions. • Alignment around the “big picture” and a deeper level understanding of strategy. • Increased responsiveness to internal and external customer needs. • Improved productivity through better teamwork, communication and coordination. • Better decisions for optimal allocation of resources.

Compelling Selling Classic sales training with a modern edge

3 + 2 day workshop

Background Compelling Selling takes the proven principles of consultative selling techniques and applies them to the specific needs of winning and growing clients in the financial and professional services sector.

While the workshop can be used on a stand-alone basis it works best when combined with tools from the implementation toolkit.

Topline summary Before the training we work with the business to agree the key issues that need to be addressed using Mercuri analysis tools where appropriate.

The focus of this programme is on professional selling and can be applied to either transactional or relationship selling.

• "Where Is This Going?" • The context for financial selling in a

challenging market. • The need to identify and leverage

“compelling events” • The seller as trusted advisor

• How RMs add value and bring the whole organisation to work effectively for the client.

• Selecting the right clients and opportunities • Techniques for making the approach • Engaging with the Client • Building and maintaining rapport, accelerating trust • The detectives: Understanding the client: and their

compelling issues • The offer they can't refuse , forming and

communicating the offer • Resolution: Objections, Pricing, Inertia and delay • Gaining Commitment • Relationship planning and activity management

Practicalities The programme is normally run over 3 + 2 days with a gap of 4-8 weeks between parts. Normal group size is 12 with one facilitator. Before the workshop we should co-author scenarios to use in the various practice sessions / role plays. Requires a large room to allow for practice sessions in small groups or a main room with syndicate rooms. Can use video where appropriate. Coaching guides available for filed observation.

Participants and leaders have said: “Excellent programme, well structured, phased build-up of body of knowledge to allow for easy assimilation.” Relationship Manager Business Banking “I must admit I was sceptical about this training but I really learned a lot. It confirmed a number of points but challenged me in areas where I had either become complacent or had never acquired the underlying skills. It was productive but also highly enjoyable” Corporate Pensions Specialist “Mercuri International have worked with us to design and deliver a challenging and innovative learning and development programme to support our Relationship Managers and Directors. Mercuri understands our desire to be recognised as the No1 Relationship focussed Bank and have the right approach and experience to develop our people” . Director Major Corporates “The programme helped the team realise they did not “know it all” and that there were new skills to be gained and old skills to sharpen. We’ve seen a real difference in the way they work with their intermediaries.” National Sales Director Life & Pensions

Some results 41 senior corporate pensions consultants involved in a Compelling Selling programme (combined with tele-mentoring) generated €2.6Million of incremental business attributed directly to the training (analysis by client’s own actuaries) This generated cost cover out of extra income within 12 weeks It generated more than 4:1 payback within the financial year.

Business Finance for Everyone Creating a cash awareness culture

1 day Experiential Business Simulation

Background How much more success could your organisation achieve if EVERYONE within it thought like business owners – so they could base their future decisions on sound and organisationally consistent business thinking. This programme brings financial statements to life through its simple, visual hands on model of a company.

Topline summary Participants form the incoming management team of A&O Inc. – an established company that is facing some tough challenges. The team will attempt to take the company from mediocrity to excellence via a series of exercises designed to elucidate the foundation of business in a company. Teams learn how to monitor cash flow, prioritize customers that bring profit today but also to build long-term profitability, maximize utilization of staff and measure results in the balance sheet and income statement. Participants of all levels can gain new skills or build on prior experience to: • Read and interpret financial statements • Identify critical elements affecting profitability • Analyze financial ratios and KPI’s and make

priorities accordingly. Participants will explore the cause-and-effect of relationships that govern a company’s financial statements and develop an intrinsic business sense that will govern their future decisions in everyday work.

Practicalities This programme runs over 1 day for up to 24 people in 6 teams of 4 with 1 facilitator..

After a short introduction as to the mechanics of the game, the day is filled with the teams own business activity.

Everything they decide to do, in each financial year, is recorded in their workbook and at the end of the year the team has to produce a Profit and Loss report and balance their Balance Sheet.

The training requires a large room with a large circular table for each team playing the game.

Participants have said: “This surpassed our expectations by a wide margin. [It] not only gives us a foundation to build on – it also creates enthusiasm and gets people involved..

These are essential components for our development program.”

And their leaders have said

“In one of our factories we came up with £1 million

worth of potential improvements as a direct result of the

business simulation.” Manager

Some results 97% of all participants would recommend to a

colleague

96% said they were very confident or confident that they would be able to apply their learning in their role

99% said they were completely satisfied or very satisfied with this learning event

Key Concepts • Business finance and Key performance indicators

• Balance sheet and Profit and loss statement

• Cash flow and Working capital

• Utilization of staff and Multi-skilling

• Delivery efficiency

• Tangible and intangible assets

• Market value

Convince and influence with your sales presentation

Blended programme

Background The seller of the 21st century has to be a charismatic technophile: charismatic so as to influence your customers, which means being able to change their opinion when required; a technophile because technology strengthens the power of influence, provided you use it properly and know when and where not to use it. It is the combination of charisma and judicious use of digital and multimedia tools that endows the seller with the strength to convince and influence. This learning path will develop these two closely-linked dimensions for the participants. This course consists of nine online modules, a face-to-face seminar, and tests before and after.

Online modules Online modules: 15 to 30 minutes each with support materials. The modules will involve a time commitment equal to one working day 1. Why sales presentations are boring

2. Face-to-face presentations vs. written proposals

3. How to structure a presentation

4. How to link the presentation to the sales situation

5. How to improve the visual impact of a presentation 6. Presentation design 7. Visuals and PSE : Picture superior effect

8. How to lead meetings

9. Written proposals

Two day workshop The levers of influence: form and substance, rules of the communication and prerequisites • The SARA structure • ERD levers: Eloquence, Relevance & Decisions

- Eloquence: develop energy, tone, rhythm, verbal and body language

- Relevance: demonstrate the interest for the customer

- Demanding: influencing a decision in our favour Combine persuasive techniques by using the computer and PowerPoint properly: • The seller IS the presentation, not PowerPoint • How to strengthen impact and avoid “Death by

PowerPoint“ • How and why to “give up" all the words on the slides

that the customer won’t read • How to handle a meeting without using PowerPoint as

a "prompter“ • When to turn off the computer (“Black") and why, and

the resulting gain in impact • How, why and when to switch between digital and

analog

Participants have said: “I found the programme challenging and sometimes uncomfortable but the impact on my presenting has been radical.” Senior consultant: Professional Services

Leaders have said: “I’ve been positively surprised by how this has changed the team’s presentations for the better and one other thing - they enjoyed themselves!” Sector Head: Financial Institutions

Some responses

Online Competence Benchmark Equipping teams for product and market campaigns

Background The Online Competence Benchmark allows you to measure the skills, knowledge and attitudes of your people and ensure these competences are aligned with your business, strategy and goals. This allows you to plan targeted, prioritized and cost-effective development and then measure improvement. It helps improve competitive strength and make the most of L&D budgets.

It was developed specifically for clients in the financial and professional services sector where it has proved itself with major organisations including three of Europe’s Top 10 insurers, A Big 4 accountancy and a top3 risk manager. It has been continuously improved based on work with these businesses and as and with global leaders in the IT, biomedical and engineering sectors.

Topline summary We start by working with you help you define and

calibrate the skills, knowledge and attitudes you are looking for in your teams.

This process is made much faster and more effective by starting with Mercuri’s extensive libraries, based on our 50 years of experience and covering many roles e.g. relationship managers, strategic account managers, sales leaders, business development, marketing, project managers, sales support, client service teams.

The library can be used as is, edited or redrafted.

We build a communication plan together and brief participants, their managers and learning specialists.

Individuals complete a questionnaire, rating themselves on a scale divided into bands e.g. emerging, experienced, role-model.. They identify the competences they believe are most important for success in the role.

Managers rate their team-members in the same way

The manager and the individual validate the “scores” and agree on areas of focus.

.The individual receives a report comparing them to others and/or a benchmark and identifying existing development tools to help them grow.

The business receives powerful reports that give compelling insights into gaps in competitive strengths and priorities for development. These reports can be cut by e.g. region, role, sector etc.

Practicalities The whole process is run on-line, saving time and administrative costs. Allow about six weeks from kick-off to reporting. The questionnaire takes about 45 minutes to complete. A manager can rate a team of 8 in 90 minutes. The validation meetings typically take 90 minutes. There are a number of options that can be switched on or off as required.

”Very open discussions and the team is seeing it as a real opportunity to identify their key development areas. The system is working really well for us and I’ve had really positive feedback” National Sales Manager Business Services “For the first time we are basing our development decisions on facts and not guesswork” Head of Professional Development Life Assurer “I found it really helpful to step back and think hard about how good I really am in this role and where I need to improve.” Global Lead Partner, Professional Services. “This was a great starting point for our compelling selling programme. It gave the team an appetite to learn and helps us measure improvement” Sales Director Pensions Provider “We used the OCB to demonstrate the links between competence development and sales performance . We reprioritised our training and saved enormous amounts of time on our old manual product knowledge testing and skills assessment. We estimate £400k saved over 2 years” Head of Branch Performance , Investment & Protection provider

Some results “We had high expectations when we commissioned this work but the competence benchmarking worked far more smoothly and has given us far greater insights than any of us had expected!” Head of Corporates Top 10 Insurance Co

Some responses

Applied Best Practice Building effective ways to win and grow business

Face-to- face workshop

Background When selling skills are supposed to be in place but just don’t seem to be have the effect they should, then Applied Best Practice may well be the way to solve the problem.

Applied Best Practice focuses sales teams on specific sales situations. It starts with what current good practice looks like and challenges people to ensure they are at least at this level and then to reach for the next level.

The programme is very interactive and relevant. It leaves no room for complacency and makes use of managers as coaches to maximize implementation.

Topline summary Before the training, we work with selected individuals to agree a good baseline and shoot a short video of the key stages of the sales process.

The video shows “OK plus” behaviours which would not cause real problems but which could be improved on..

The programme works through the four key stages of the sale:

Engage with the client – build rapport, get the meeting off to a good start, position oneself/the offer/the firm.

Understand the client and qualify their requirements

Form and propose a relevant solution

Address concerns and objections and gain commitment

At the end of the workshop individuals confirm their action plans. Plus the best ways of working (e.g. positioning statements, question banks, proofs, objection banks) are agreed and documented.

Coaches and participants agree implementation.

Practicalities The programme is normally run over 3 days and follows the same pattern through the stages of the sales process.

• Introduction to topic • View video scene e.g. “Engage with the client” or

“Address concerns”. • Compare good and great and agree possible

improvements. • Trainer input on key concepts. • Practice in small groups with video. • Immediate feedback in small groups on video from

coaches. • Plenary session to agree further improvements. • Practice and review again to embed improvement. • Plenary session on agreed commitment to make

improvements.

Participants and leaders have said: “My very first appointment following the Applied Best Practice course … went unbelievably well. I used several of the techniques we had worked on and the FD really opened up. At the end the FD said he would recommend us to the board …The proposal was subsequently approved.” Commercial Bank Relationship Manager “”I learned more about my people and what they actually say and do in front of customers than I would ever have expected” Regional Director Cash Management “We did more business with this offering in the quarter following the training than we did in the previous three quarters combined. Part of this was because the marketing campaign came good but a lot of the success was down to the Mercuri training.” Corporate Marketing Manager

Some results Applied Best Practice has proven itself in a range of financial settings including:

Commercial Banking Asset Finance Fleet Solutions Trade Finance Financial Institutions Structured Finance Pensions Private Banking Insurance

Relationship Management Winning, keeping and growing profitable relationships

Background At a time when product-pushing, the “hard sell”, and mis-selling are in the news, professional relationship management has never been more important. Jean-Laurent Bonnafé, CEO, of BNP speaking to the Financial Times about his global strategy said he wants to be remembered for “client satisfaction: The winning banks are those that can achieve confidence and trust.”

Antonio Horta-Osario, CEO of Lloyds Banking Group confirms this thinking when he said : “Issue-by-issue and scandal-by-scandal the faith and trust in our industry has been eroded. Why? Because I believe that many banks lost sight of their core values and became complacent, non-customer-focused and inefficient.”

Mercuri International’s Relationship Management programmes can help you develop your RMs to build trust, manage risk and at the same time generate sustainable growth that enhance both the bottom line and your business’ reputation.

Topline summary The programmes have been used successfully across the sector; from professional services, through banking to insurance and investments. They can be used for dealing directly with the client or with and through intermediaries. The size of relationship may vary from a complex global corporate through an SME to an individual client.

There are cross-overs with a number of other Mercuri programmes such as Key Account Management and cross-selling.

At the heart of the programmes are skills such as:

Selecting the right relationships to focus on,

Relationship planning,

Building a trust-based relationship,

Understanding the client,

Forming, prioritising and proposing the right solutions in the right way,

Handling difficult situations (internal and external) and gaining incremental commitment.

Acting as the prime point of contact and leading virtual teams of product partners and other specialists

Managing the relationship through its different phases.

Practicalities There are several ways Mercuri can help you develop

your Relationship Managers using our 5 step process.

They range from short sessions at a conference or a sales meeting , through a one-day workshop for graduates to a full 3+2 day blended programme with pre-work and an implementation toolkit.

We will work with you to find the best approach balancing commercial effectiveness with operational efficiency.

“Our challenge was to raise the bar of both our newest and most seasoned relationship managers. Mercuri International invested time to tailor and expertly deliver a course for our unique needs and context. It not only pushed the limits of our most experienced/ cynical managers, but continues to deliver top and bottom line benefit to the business.” Head of private banking for corporate client executives “Mercuri facilitated a 2 day client scenario that allowed us to understand in-depth the individual abilities of our Relationship Managers, across a broad range of skills, knowledge and behaviours. The course learnings have driven a new training and development focus and a revised product deployment approach. Both will provide positive outcomes for our people and our clients.” MD share dealing services “Mercuri International have worked with us to design and deliver a range of training courses supporting our Relationship Managers and Directors. Mercuri understands our desire to be recognised as a top relationship-focussed bank and have the right approach and experience to develop our people” Global Sector Head Corporate Banking

Some results "When I was a pensions consultant I went on a Mercuri International course on relationship management. The live case study I focused on was an intermediary which was then generating ~£1m a year. I applied what I learned on that course and (with a lot of hard work) we saw the £1m a year grow into £24m a year over the next 3 years. I have no doubt that the Mercuri course was instrumental in helping me achieve this” Head of Specialist Sales

Some responses

Key Account Management Strategy Workshop

Background What proportion of your income comes from your key or strategic accounts? 25%? 50% ? Even higher?

A Mercuri survey of 84 financial businesses showed an average of 49% of income coming from the top 10% of customers.

The prizes are great but KAM programmes carry significant risk; with money, time and reputation all being put on the line. KAM programmes impact on the whole business not just the sales function. So it is important that the business as a whole understands and agrees on the issues and implications of working with strategically significant relationships.

Topline summary The workshop brings together senior leaders from a range of disciplines – distribution, origination, operations, risk, finance, compliance., product partners.

The morning focuses on gaining a common understanding of what KAM means in practice • “What’s at stake?” - the risks and opportunities of

a KAM programme. • Trends and themes in today’s strategic account

management • “What does good KAM look like?” – The Mercuri

International / University of St Gallen survey of 560 European businesses.

• The components of effective strategic account management:

• Critical success factors – hard-earned lessons from experience

• Feedback from “Fit For KAM” questionnaire completed before attending the workshop..

The afternoon concentrates on one selected area to get a concrete outcome on the day e.g. Selection criteria and segmentation The structure of virtual account teams and their

roles Account planning Measurement

Practicalities The workshop is usually run in one day. It works well with between 6 and 15 participants. Participants receive a “Fit for KAM?” questionnaire to complete before coming to the workshop. The workshop can be run on or off site. It can be used for both direct client situations and when working through distribution..

Some results “Working with Mercuri International specifically on scoping out a key account management process and redefining our structure has proved invaluable in propelling our business model forward in terms of increased sales productivity. The projects have had a measurable impact on the business result”

Head of Sales European Financial Institution

The Mercuri/St. Gallen KAM model

KAM Development Toolkit Getting to grips with key account management

Overview Managing strategically significant relationships is both demanding and fulfilling for the individual and of critical importance to the business. Both opportunity and risk are high. For example, a Mercuri team has been working with a leading global player to help them take their income from their global accounts from $800mn to $1.8Bn.

While not all scenarios are on this scale, the stakes for key account managers are always high! The role is a complex one, requiring a portfolio of skills which few salespeople, relationship managers or technical specialists will have been able to acquire in their careers to date.

We have developed a number of approaches to help equip those who lead or aspire to lead these major relationships. Because each situation requires a different approach this sheet shows examples of ways we have approached the challenge of strategic account management. Everything we do in this field is based on a very strong research-based model co-developed by Mercuri International and the University of St. Gallen. Examples • Key account manager training:. We have a

very strong range of modules for developing strategic account managers. The modules cover the 5 dimensions of key account management – strategies, solutions, people, managing, measuring. They are designed to equip those managing major relationships with skills, techniques and tools to “understand and analyse” and then to “plan and realise”. Working with the national accounts team of a major pensions provider we ensured there was a common understanding of KAM across the restructured team and that the critical tools were in place and in use.

• Key account management tools Some of our clients have some tools they need in place, but few have all they need to achieve maximum effectiveness. We work with the client team to review and refine existing tools and where appropriate to provide and adapt tools from the Mercuri KAM toolkit. Tools include:

• Selection criteria • Stability indicators go/no-go analysis • Account plans • Account team structures and ROAD

maps • Cross selling analysis • Measurement tools

An investment manager had 2 main issues. It was not prioritising account management resources in line with corporate strategy and its account plans were so cumbersome they were not being used. The Mercuri team worked with the client’s project team and within a month had selection criteria (“The AttAcc planner”) and a simple account plan in use.

• Key account management self-study library: Over 30 articles and guides for strategic account managers – from “Leading virtual account teams” to “Working with the C Suite”. A global insurer used this library as a way of providing immediate content and support for its International and National Relationship Leaders while longer-term development was put in place.

• Key account simulation: In this highly interactive simulation account leaders have to create an account plan for a complex, multi divisional account operating in multiple geographies. They then need to execute the plan over several years to achieve the desired business result. This has proved a very stimulating and highly time-efficient way of working. A professional services firm used the simulation to build analytical thinking and provoke its KAMs to stretch themselves.

• Coaching on live account plans: This can be done with individuals, with small groups of account managers or with core account teams. The focus is on a live account. The process starts with analysis of the current situation and identifies current or potential problems and opportunities. Over an agree period the coach helps the team make the required changes to improve the result. We worked with 4 account teams in a leading actuarial consultancy to develop new ways of working with their clients – a global energy company, a supermarket, an insurance company and a bank.

• Measure and improve competence: Using our experience of working with strategic account managers around the world and our access to a very strong technology team we have developed the Online Competence Benchmark which allows our clients to measure the KAM capabilities of its relationship leaders, identify the improvements required, plan very focused, aligned development and then measure improvement. A “Big 4” accountancy firm has used the Mercuri OCB as part of its global accounts programme to identify the learning gaps for its lead partners.

Professional Selling A blended and innovative online learning programme

Overview This programme allows professionals to build their client facing skills, working in their own time over a thirteen week period. The online learning takes about an hour a week and is supported by coaching sessions.

The materials have been developed specifically for the needs of client facing people in the financial and professional services sector.

The programme make use of innovative learning technologies to combine maximum effectiveness with minimum operational impact.

Topline summary

The programme

Opening coaching session 1. Introduction and opening self-analysis 2. Plan for growth – identifying which clients and

solutions will deliver the result 3. Make hard choices - picking the right clients &

opportunities 4. Compelling selling – finding the issues to make

your selling compelling Second coaching session 5. Approach tactics 6. Planning and preparation to increase efficiency

and effectiveness 7. Engaging with the client - building trust fast 8. Understanding the client - getting to the heart of

clients’ issues 9. Building and communicating relevant solutions Third coaching session 10. Managing a pipeline 11. Resolving concerns and gaining commitment 12. Growing the relationship 13. Making it all happen Final coaching session

Practicalities Each weekly module contains a fifteen minute animated Rapid Learning with the key points of the subject.

There is a Mercuri Essential – a downloadable summary

There are further resources including articles, “Skill Sharpeners”, Podcasts and practical sales tools

Each week there are questions and exercises to confirm progress.

The coaching sessions provide an opportunity to support the learning and to answer questions on applying the ideas.

When Professional Selling is used by a number of people from the firm it can be followed by workshops such as Raising the Bar

Participants have said: “The content is very relevant for my role as I need to build my business development skills”

Accountancy Manager

“It’s been good to be able to fit the learning in without losing billable hours and valuable client time” Client Director – Employee Benefits Consultancy

“The programme has given me practical tips and tools that I have been able to put to use immediately with my clients” Corporate Bank Relationship Manager

“Professional and effective – the look and feel are just what we hoped for” Business Academy Lead Commercial Banking

”

To access Professional Selling for yourself and see examples of the different materials click here:

PROFESSIONAL SELLING

Or cut and paste this link into your browser: http://mercuri.lms.epistema.com/data/modules/crossknowledge/interfaces/session_autoregister.php?session_id=47602&guid=9E74404C-25B2-E440-ED4C-8919EB720206&group_id=675

Professional Selling: Kick-off Event A dynamic, challenging and motivating 1 day event

Overview The financial and professional services sector is going through dramatic changes: market volatility; geo-political and macro-economic shifts; regulatory pressures; client and consumer perceptions.

Against this background there is a need for and expectation of growth in economic profit and market share.

This needs to be achieved in line with a rightly increased focus on risk and treating customers fairly.

Mercuri International continue to believe that well conceived and executed professional selling complements good risk management. This session sets out to stimulate and challenge sales teams and their leaders to bring together the ethical and the entrepreneurial ; profitability and professionalism.

Topline summary

The day

The morning is based around a very focussed case study ‘Finworld’. Faced with changing market conditions the group has to predict the success and plan the KPIs of a team of five sales professionals. As they work through the case, they are challenged with a range of issues: 1. What’s happening in the market? 2. The what and why of sales strategy 3. The right size and shape of the sales result 4. Selling activity – the keys to success

• Quantity • Direction • Quality

5. Competence – the ability to do • Knowledge • Skills • Attitude

In the afternoon we work on a range of topics that can be adapted to the needs of the group. These topics can include: • What makes a rainmaker? • What does it mean to be a trusted advisor? • The effective relationship manager • The mind of the buyer and the mind of the seller • Team selling • Differentiated Selling • Introduction and overview of Professional Selling

Practicalities The day is led by Richard Higham – Global Practice Leader – Financial & Professional Services. He will be supported by another member of the Mercuri sector team.

The day can be used with different sizes of audience; from a dedicated team to a complete sales-force.

It is possible to break this material up for shorter sessions e.g. at a conference or sales meeting.

To see and hear Richard speak, view these videos:

https://vimeo.com/43178969 https://vimeo.com/43173641

Participants have said: “A really strong session delivered by someone who clearly knows what he’s talking about”

National Sales Director, Asset Finance

“Richard is an engaging speaker who delivered on brief for our audiences…He has the gift of making … an intense session clear and enjoyable.” Programme Director, Postgraduate International Selling Programme

“Very articulate and yet extremely pragmatic”

Director Strategic Insights Programme, international insurance

IMPACT projects Equipping teams for product and market campaigns

Background Over the years we often heard from clients who had tried a product launch or a market campaign which had not worked. Frustrated and concerned, they now wanted us to do some training to put things right.

We always responded but realised that our clients were missing opportunities, wasting resources and increasing risk through this approach. So we decided to take the initiative. IMPACT projects help you get off on the right foot and achieve the optimum result from the very start. They focus on the application of existing skills to a specific market challenge.

They are not concerned so much with a particular sales theory but more on how well your people are using it. Everything is about real-world activity to make the most of the opportunities.

Topline summary Before the training we work with a small team

including sales management, marketing and experienced sellers to identify the way things are been done today, inc. likely barriers to success and what “good” looks like. We record examples of steps in the sales process.

Over a two day period (with evening session) teams work together on refining and improving the way they will work on the campaign.

This could include interactive sessions on profiling and approaching target prospects or highly interactive product knowledge sessions using games etc.

Through Day 1 the participants are developing and personalising the tools they will use e.g. positioning statements, question banks, proofs, objection banks.

In the evening there is some engaging, fun learning e.g. product quiz, panel of experts etc.

Overnight the Mercuri team gather and edit the work done on day 1 and convert it into a draft sales playbook.

Day 2 is spent practising and refining key aspects of the sales process to give people confidence to apply this immediately in the market-place. This ends with planning clear actions for the coming days and weeks

Practicalities The workshop is usually run over 2 days. We prepare a workroom with product information, branding material etc. (for example for a medical company we created a side ward with the high-tech bed they were selling while for a trade finance project we had visuals from their target markets) Video/audio recording can be used as required. After the workshop the draft playbook is quickly edited and distributed. A range of implementation support tools can be made available.

“ The people who were going to be involved in selling the SME offering were either nervous, complacent or naïve. They knew this campaign was coming but they weren’t ready for it. The IMPACT Project was a real wake up call.” SME Programme Leader: Pensions Consultancy “It’s so much better being involved all the time instead of just sitting there while a product manager talks at you. I learned a lot by just getting on with it and then being challenged on how I could improve.” Commercial Bank Relationship Manager “High energy and really practical. It gave me confidence to get out there and win business from the start.” Business Banking Business Development Manager “It was great. I was able to solve real world problems that I knew I’d face with my partners. It paid off in the very first negotiation with them.” Bancassurance Protection Consultant / Channel Manager

Some results Pensions Consultants introducing a new offering for SMEs. Product knowledge up by 60%; number of actual sales visits up 100% over quarter following project.

Commercial banking introducing a new relationship management package: Won more cases in the quarter following the project than in the three quarters preceding it.

Some responses

Cross Selling Achieving client growth through cross-selling

Background For many financial businesses cross-selling has been seen as the best way of increasing the value and stability of customer relationships. When it works well it can achieve both these things but all too often it leads to product pushing and even mis-selling.

The client does not always see why it is to his advantage to take multiply products ant there are significant barriers to success. The main six are: (1) Negative or neutral recognition and reward systems (2) Lack of trust between individuals and departments (3) poor product knowledge and knowledge management (4) Undeveloped cross-selling processes (5) Undeveloped cross-selling skills (6) Undeveloped sales management of cross selling.

Mercuri International’s approach to cross selling in the financial & professional services sector can help you manage risk and reputation while building relationships and profit.

Topline summary Mercuri International’s expertise in helping you

address cross-selling issues can be applied in several different ways from consultancy through awareness sessions to skills training.

Sometimes this can be as a stand-alone cross selling project. At other times the cross-selling agenda is woven into a more general sales, relationship management or sales leadership programme.

This expertise has been used by professional service firms, banks, insurers and risk managers. It can be applied in B2B, B2C and B2B2C settings.

There are cross-overs with a number of other Mercuri programmes such as Key Account Management, Relationship Management. And the range of selling programmes.

Consultancy could involve improving the effectiveness and efficiency of knowledge management or the development of cross-selling processes to bring product expert in at the right point in the buying cycle..

Awareness sessions might be a question of designing and facilitating cross-silo “product fairs” or launch events.

Training cross-selling could be simulation based using generalist relationship managers alongside product specialists or could be based on skills development e.g. managing referrals.

Practicalities There are a number of different ways Mercuri can help

you improving your cross-selling. using our 5 step process.

They can range from consultancy and project workshops through short sessions at a conference or a sales meeting , to blended programmes combining face-to-face sessions with on-line work.

We will work with you to find the best approach balancing commercial effectiveness with operational efficiency.

“The workshop made us think. We were challenged and it was not always comfortable but the day produced not only a changed mind-set but really practical tools that began to be used immediately." Head of private banking for corporate client executives “Mercuri facilitated a 2 day client scenario that allowed us to understand in-depth the individual abilities of our Relationship Managers, across a broad range of skills, knowledge and behaviours. The course learnings have driven a new training and development focus and a revised product deployment approach. Both will provide positive outcomes for our people and our clients.” MD share dealing services “Mercuri International have worked with us to design and deliver a range of training courses supporting our Relationship Managers and Directors. Mercuri understands our desire to be recognised as a top relationship-focussed bank and have the right approach and experience to develop our people” Global Sector Head Corporate Banking

Some results Four bank teams involved in shipping (ship finance, ship broking, hull insurance and cargo insurance) identified 23 previously unseen cross-selling opportunities on the day. 9 of these were converted over 6 months. Bank owned lessor saw 25% volume growth after changes to reward systems and process.

Some responses

Customer Service Programmes Customer service for profitable customers

Overview The current emphasis on restoring customer confidence and trust; reducing reputational risk; focussing on customers’ real needs and building strong, loyal relationships means that customer service is even further up the financial services agenda.

As customers become increasingly knowledgeable, confident and demanding, meeting and exceeding expectations becomes increasingly challenging. The programme examples below are how Mercuri can help the business deliver on its promises to stakeholders. Calling on our Swedish roots we have developed an approach to customer service that sits well with the times we live in and has proved itself with clients ranging from airlines, through utilities to banks. Examples Customer Service Management This training will provide you with the necessary tools for building and managing a target-oriented business. It will map and develop a process-oriented way of working as well as providing you with knowledge and skills for following-up and improving results. The training contains tasks that are directly applicable to your business. Target group/scope. You are responsible for managing a service department, contact centre or similar. 2 + 2 days. World-class Customer Service How do you measure if you provide – world-class customer service? You will receive tangible tips for creating measurable and distinct result improvements. What must we follow-up and why? We will explore the meaning of world-class service. Target group/scope. You are a Manager/Head responsible for the quality of the customer service provided by your company/organization and you wish to further improve this level of service. 1 day. Co-listener training Companies working with qualitative co-listening and coaching have more qualitative customer calls, happier employees and more satisfied customers - which of course have positive effects on their profitability. You will have the opportunity to practise the tools which you then may use for co-listening in your everyday working situation. Target group/scope. You are a Manager, team leader, coach or customer service employee and wish to improve your co-listening skills, whether it's on the phone or in personal meetings. 2 days

Efficient customer communication What does good service and caring for customers imply? We will focus on phone customer meetings. Being able to conduct efficient phone calls, taking and maintaining the initiative, carrying out a good needs-analysis, giving the buyer information they need and closing professionally. Target group/scope. You are a customer service, help-desk or contact centre employee. 2 days. Selling on in-coming calls Incoming phone calls are wonderful sales opportunities. You will receive a clear model for turning a "problem solving" call into a sales conversation. Target group/scope. You handle incoming phone calls in a customer service or contact centre department and wish to improve your sales impact. 2 days. Help – the customer wants to leave One of our most important phone calls is the one when the customer says they wish to leave. This training will provide you with a reliable method and practical tips for becoming more successful in convincing the customers to stay on. Target group/scope. Everyone who has customer contacts wishing to improve their ability on retaining customers. 1 day. Professional e-mails More and more customers choose e-mail as a means for communication with their providers. It's challenging to answer a question or complaint from a customer via e-mail. It’s not easy to communicate simply and directly, avoid misunderstandings and keep the customer satisfied. Target group/scope You handle customer errands via e-mail or letters and you wish to improve your ability to write easily understood, customer-friendly answers. 1 day.

Making it happen! The Implementation Toolkit

Ongoing implementation support

Overview “Ten new ideas are good… but one new idea put into practice is even better”

This comment from Mercuri’s founder Heinz Goldmann underlines the critical importance of putting training into practice or to put it another way, to turn “learning into earning!”

It is clear that most adults need frequent small reminders and stimuli rather than learning only in big chunks. Many client facing people have a pragmatic, activist approach to learning which needs to be recognized and supported.

Here are some of the ways in which Mercuri International approaches the challenge of helping financial professionals put their learning into practice.

Examples

• Manager briefing: If the participants’ managers have a clear grasp of what their people are covering before they attend training then they can engage actively before the training and know how to coach after the training. Working with an actuarial consultancy, implementation of account plans went from <30% to >70% when “Coaching Awareness Calls” were introduced for line managers.

• Tele-mentoring: Participants receive a series of one-to-one or small group follow up calls to stimulate retention, answer questions and focus on real-world application with clients. 30 pensions consultants generated £1.92mn of incremental business in the three months of a post-course tele-mentoring campaign.

• Coach the coach; Apply the tele-mentoring approach but to internal coaches or line managers, agreeing a specific campaign plan and monitoring changed sales activity and business result. Using this approach with a central European bank on a four month asset-gathering campaign, branches hit 100%-203% of stretch targets for high net worth customers .

• Coaching observation checklists: Managers of a life assurance office received checklists to use when observing consultants in the field.

• Skill Sharpeners & Sales play book. Following their involvement in Mercuri sales training , an international group of wealth managers received a weekly article or “skill sharpener” by e-mail. These were combined with tools from the training (e.g. positioning statements, question banks and objection banks) into a sales playbook that is now standard issue for the sales force. The approach has been replicated for specific markets/campaigns.

• Aides-memoires: Participants are provided with prompt cards to review immediately before going into sales visits. “I keep in my folder and take a quick look before I go into meetings. It keeps me on track.”

• SMS/e-mail prompts. A weekly prompt is sent to each participant after the programme. These light one-line communications are designed to jog the memory and stimulate implementation on the principle of “little and often”. Being used by a Gulf bank to support sales leaders and relationship managers. “We don’t want the learning to get lost in the pressures of daily business. This simple approach keeps the learning front of mind.”

• Full blended learning: A global bank is using this approach for sales team leaders around the world following a 2 day workshop. Mercuri have designed five post call modules that take an hour a week to complete and include calls to action and video interviews with leaders “Leaders like the look and feel of these modules. They’re quick to do but also give some really good back-up material”

• Call the sales expert: For an agreed period following the training, participants have access to a hot line which they can call if they are having difficulties in applying the learning with their clients. Access by voice, text or e-mail “I only used it once but it helped me secure a seriously big deal.”

• Coaching cafes: This way of working is more appropriate for office-based sellers. A coach is available on site on specific dates following the training and can be booked for one-to-one or group coaching sessions or used on a drop-in basis.

• Access the blog “Selling Financial Services” at http://selling-financial-services.com for stimulating commentary and practical ideas. Other media are in development.