Sales Ethics

[jhachtel]

I am struggling as a salesman. I cannot figure out if it’s because the job is inherently dishonest, or at least the companies I have worked for, or I am being overly scrupulous.

I just can’t bring myself to advocate strongly for products or services where the benefits are marginal or non-existent. I know I am a “good” salesman when I “sell” things I completely believe in, such as the Catholic Church, but I am a sorry salesman when I sell most everything else.

Example:

Currently I sell checking accounts and other bank products. While my bank is big and convenient the rates are low and service can sometimes be impersonal. I don’t see a clear benefit for banking with me rather than another big bank. For some customers, credit unions or local and regional banks are a better fit. My responsibility to my employer is to “sell” our service above theirs and avoid, evade, and distract when it comes to our deficiencies. They certainly wouldn’t say that, but that’s what they want when you look at their behavior. Compared to not having a bank account at all, we are fantastic! Compared to other banks, we are not quite as fantastic. Differentiators are minimal.

Furthermore, other bankers are bending, and sometimes breaking, the rules to get sign-ups for other services such as online banking and identity theft protection. The company doesn’t seem to care to enforce its own rules until a customer complains. Most customers don’t complain officially. They just call and ask to cancel, never filing a formal complaint for the company to follow up on.

I will likely lose my job soon because of my performance in relation to others. I welcome a conversation to clarify the ethical questions involved and come to a realistic expectation for acceptable sales behavior.

I work down the street from my Parish and see people I know and love, and go to church with, every day. If I sold the way I think I am “supposed to” I wouldn’t have many of those friends for very long, I don’t think.

Thank you.

 

[raaucoin]

I am struggling as a salesman. I cannot figure out if it’s because the job is inherently dishonest, or at least the companies I have worked for, or I am being overly scrupulous.

I just can’t bring myself to advocate strongly for products or services where the benefits are marginal or non-existent. I know I am a “good” salesman when I “sell” things I completely believe in, such as the Catholic Church, but I am a sorry salesman when I sell most everything else.

Example:

Currently I sell checking accounts and other bank products. While my bank is big and convenient the rates are low and service can sometimes be impersonal. I don’t see a clear benefit for banking with me rather than another big bank. For some customers, credit unions or local and regional banks are a better fit. My responsibility to my employer is to “sell” our service above theirs and avoid, evade, and distract when it comes to our deficiencies. They certainly wouldn’t say that, but that’s what they want when you look at their behavior. Compared to not having a bank account at all, we are fantastic! Compared to other banks, we are not quite as fantastic. Differentiators are minimal.

Furthermore, other bankers are bending, and sometimes breaking, the rules to get sign-ups for other services such as online banking and identity theft protection. The company doesn’t seem to care to enforce its own rules until a customer complains. Most customers don’t complain officially. They just call and ask to cancel, never filing a formal complaint for the company to follow up on.

I will likely lose my job soon because of my performance in relation to others. I welcome a conversation to clarify the ethical questions involved and come to a realistic expectation for acceptable sales behavior.

I work down the street from my Parish and see people I know and love, and go to church with, every day. If I sold the way I think I am “supposed to” I wouldn’t have many of those friends for very long, I don’t think.

Thank you.

Are you in a position to continue a banking relationship after the “sale”? If so, sell yourself!
I could find better banking products at other banks. But I stay where I am because of the branch manager and her staff. They keep an eye on my accounts or if I have any needs I know they will be there for me.I made a deposit once forgetting I needed cash back. After the deposit, I should have had to wait 3-5 days before being able to cash a check. They took care of me. I know I could save money elsewhere. But peace of mind is worth it to me.
You can only offer so much-what your bank allows. But surely there’s a way of lettting customers know with you, they’ll get the security of knowing a good guy is on their side.Even the assurance that if a new program comes along that could save money-you’ll let them know.

 

[Bix]

I understand what you are saying. It can be difficult when employed by large corporations being the public’s person of contact or in your position- the face of the bank. Banks operate no differently than many other large corporations, but unfortunately most individuals aren’t aware of the inner workings of a bank. Scorecards, rankings, account fee changes with little notice, etc., etc. These are the criteria of most importance, not customer service. Working in the same community you live and worship, shop, and so on adds an extra layer of responsibility and trust. It’s a layer all should have or be aware of, but until you live it… It can add a lot of stress to one who has higher morals.
The up side- they trust you and you can help them.

God places each of us somewhere for a reason. Maybe He needs you there to help these people. Unfortunately, many people walking into a bank are not educated on interest rates vs fees on the account, annuities, and many other options. For years, many people kept the same types of accounts and had no issues, but now banks are constantly changing account types and features leaving the customer dumbfounded or worse with hundreds in fees. You are in the position to help and guide these people. Try and look at it as serving God and be pleased He knew you would be trustworthy.
I will keep you in my prayers. You stated a fear of losing your job due to some quotas. Have you thought about talking to your parish and asking to help with or offering a financial workshop? If it went well, you could continue to offer one down the road. Everyone needs a checking account these days and many need help with debt consolidation and other areas. You would be serving God by helping educate as well as have the opportunity for account growth or other areas you are lacking regarding your quota.
There is an area on the FDIC site about public education for banking regarding checking, loans, CDs, etc that could give you some helpful literature when speaking.
I know of a church that had a huge success with something similar.

Good luck, keep your head up, God Bless!

“For the Lord is a sun and shield; the Lord will give grace and glory; no good thing will He withhold from those who walk uprightly.” (Psalm 84:11)

 

[jhachtel]

Thanks for the encouragement.

@raaucoin - I feel like the only thing there worth selling is myself.

When I first started at the bank I was placed in a poor neighborhood, and I did try to see it as a ministry to those people. That faded as it became apparent that I would not meet my numbers. Now, I am at a slow branch in a prosperous neighborhood. Our bank isn’t concerned with dollars on deposit as much as volume of accounts and services opened. I haven’t figured out how to drum up enough business to meet my numbers here either.

@Bix - I like the idea of the financial workshop at the Parish, and might be able to make it happen.

Today I had a lady tell me she didn’t understand how I could work for the bank and not be ashamed of myself. I also had a lady that opened a checking account but hadn’t realized that’s what she’d done and wrote checks on the account. My manager said the error was hers alone, even though it is apparent she is senile. Understand that she did not come in to open an account, our bank sold her one during one of her routine visits.

My competition at the bank is willing to ask you if you know what your credit score is and if you say “no”, sign you up for Identity Theft Protection. What you are told is that it will cost a dollar, which it does for the first month. You may or may not be told there will be charges later. The feedback I am getting from customers is that they are not told that, nor are they given full disclosure that it is an optional product. We are not allowed to sign you up for anything on our computers. You have to agree to the terms and conditions on your own. no one seems to be following up on that.

There are other examples, but you get the idea. The theme seems to be that if it is legal and profitable, then it is ok to do.

Thanks again, and I appreciate the prayers.

 

[Bix]

In times of doubt, ( like with your episodes today), ALWAYS remember - God has you there at this time for a reason. Keep your focus on Him, your head high and be proud He has chosen you to help these people. I’m sure it’s difficult at times with co-workers eager and willing to say and do anything to keep their numbers up and shine for a moment, but in the end… Those customers are actually the ones coming in upset once they have their first problem and realize what has transpired. Be patient, help them and they will remain loyal to you for any future needs and referrals. Basically, the numbers will even themselves out within a few months after those accounts eventually disqualify ( and most of them will ).

While you are currently helping others, who knows, being located in a more prosperous area you are probably in contact with many business owners, executives, etc and that could be where your next door opens!
Also, remember, these people are more likely to have financial advisors, etc. Give them one on one attention, take your time and always follow up. They will appreciate the professionalism and possibly have checking accounts, money market , etc at other banks which in time they may prefer to move and have you handle them as well as send referrals.

Good luck and God Bless~

 

[Bix]

As far as increasing your volume, I think you were referring to checking accounts…

Try finding a contact at a local school and see if they have any school functioned trips (like band trips playing in other states or countries or language groups , etc) Most parents do not want to send their teenager off with a credit card or cash, but a second account giving the student access to a debit /credit card while away would give the parents ease of mind knowing their credit is not being ruined or the child losing the cash. You could make the service known during one of their meetings( with approval from your manager and the school)
Sorry, I realize this is long, but you said you were concerned about losing your job due to quota…

Also, most affluent areas are saturated with checking accounts , etc so you need to be creative. Does your bank offer a Christmas club savings account? Most do not and many people miss these type accounts. Instead of opening a a 2nd regular savings acct for those wanting to save ahead for Christmas, offer a 2nd checking account. They won’t have multiple fees while shopping and withdrawing over the holidays. ( most savings only allow 2-3 free withdrawals during a month or quarter.) and they’ll have the convenience of a debit card. Most banks will waive a monthly fee if there is an automatic deposit going into the acct along with the card. They can set up their own transfer from their regular account which could help waive the fee. Lastly, separate checking accounts with a debit/credit card are great for those who use the internet for shopping. There is so much online fraud and many people no longer qualify for Visa/MasterCard,etc. In this economy, many people can’t wait 2-3 weeks for the bank to investigate and credit their account for internet theft if they have a mortgage, or car loan. This would help contain any further personal problems that would occur if someone accessed their main account while waiting the time period for the bank credit.
Just some thoughts if you haven’t tried these already…