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The Perfect Initial Account Opening Lab (PIAO)
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| The ideal time for banks to establish their brand and create lifetime relationships with clients is the Initial Account Opening. Unfortunately, few financial institutions consistently provide a memorable first experience for new clients, and they significantly undersell to client needs.
The Perfect Initial Account Opening (PIAO) Lab focuses on counteracting the common client perception that bankers are more interested in pushing products than in fully understanding client needs and developing lasting relationships. Its primary objective is consistent excellence with regard to specific sales-and-service behaviors by bankers with every new client who enters the branch. When implemented effectively, it enables a “perfect experience” for each new client and lasting, lifetime client relationships. It can also be used to expand relationships with current clients, increase sales/day/banker, improve cross-sell ratios and differentiate your bank in a competitive market.
Lab Highlights: - Use of the Mini-FiNAP® (Financial Needs Analysis Profile)
- Greeting and relationship pre-positioning rap
- Consultative reactive selling probes and recommendation(s)
- Use of a client orientation rap
- Conclusion of the Perfect Initial Account Opening
The Lab contains sections that explain each of the key behaviors and provides important preparation activities, workshops, Scripting Clinics, and On-Line Application Period methodologies to completely prepare your team. Cohen Brown also provides a mechanism for how to assess Perfect Initial Account Opening behaviors.
To contact us for more information, click here.
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