How Sales Enablement Aids Risk Management in Financial Services

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Of all the teams in a financial services company, the customer-facing department plays a critical role as it is the primary point of contact with a customer and is there throughout the customer journey. As a result of such a relationship, sales reps need support from the entire company. Marketing and compliance teams need to work closely with sales to provide up-to-date pitch decks and advisory materials so that when sales reps are preparing for sales call, they are delivering a personalized experience – a presentation designed for each, individual buyer.

There is, however, a roadblock. Financial services companies face many restrictions and have regulations to follow in comparison to companies in industries like technology or consumer goods. As a result of this, it is in the hands of the marketing and compliance teams to ensure that all materials are aligned with the brand and regulations. If you are still utilizing time-consuming, tedious and inefficient processes, which are leading you to what will ultimately hinder your relationships with your customers, you need to approach the sales process from a different angle.

Barriers and limitations in terms of time and flexibility create a major challenge for sales reps. As a result, financial advisors and reps end up preparing pitches based on unvetted content which is misinformed and non-compliant. The result? Loss of potential customers, which may even lead to fines or other legal inquiries ranging up to a permanent ban from the industry on account of misleading the buyer.

Sales Enablement can synchronize the efforts of all departments

Enter Sales Enablement. Sales Enablement helps the sales rep gain access to customized, compliant, and to-the-point materials to use on sales call. Sales Enablement aligns sales, marketing, and compliance departments to work in sync towards a common goal – creating a delightful experience for the customer. Sales Enablement technology not only streamlines content creation but also eases the manual work required on the sales rep’s end. It leaves room for them to do what they do best – engage with prospects to close more deals.

Central repository for content ensures easier access and updates to sales material

Sales enablement helps to create a central content repository that can be accessed in any format anytime, from anywhere, on any device – laptop, mobile, or tablet. A robust central platform ensures that all content can be updated at one place by the marketing team, and further enables the compliance department to keep the content in line with the latest regulatory guidelines. A content repository leads to a tightly-controlled process for content creation and management that works to mitigate risk when it comes to company-client relations.

Content usage analytics gives Insights into customer needs

When a sales team acquires Sales Enablement tools and best practices, there are more benefits for marketers, product team and management. All the data they get from the content used by the sales reps is recorded onto the system automatically. The same is later used by the analytics team to retrieve important business metrics like performance, revenue, and real-time data. The platform is integrated with sales tech stack and marketing platforms and provides top management with a closer look into what top sales performers are doing in an effort to close more deals. Product and data teams are enabled to work closely during the product development cycle to prioritize actual customer requirements evident from the data. Marketers can plan their campaigns based on the performance of their past data, and sales reps can use this high-performing content on sales call.

In conclusion…

With integration of CRM tools, Sales Enablement can allow financial services companies to retarget customers and schedule their sales activities in more efficient and effective ways. Availability of the platform on all devices will also aid the advisors and agents to get access to real-time data on-the-go.

Ultimately, the adoption of Sales Enablement mitigates the risk for your company and brings the best out of sales, marketing, and compliance teams. It provides real-time marketing insights and offers sales reps access to an innovative delivery platform that differentiates them from companies that aren’t using the latest technology in the selling process.

How forward-thinking is your financial services company? Are your sales reps interacting with prospects in conventional ways? Are you still being limited by tedious, manual sales processes? Sales Enablement may be what you need to improve and evolve your customer relationships.


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