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For many banks, the task of evaluating sales talent can be more difficult than selling. How should you view a productive sales officer in Wyoming when her sales fall below the national average? How should you set goals for sales people in Provo versus those in Denver?
Too often, subjective answers to these questions lead to counterproductive results. Average sales in strong markets get rewarded but strong sales in weak markets do not. Subjective assessment can lead to over-compensation in the first instance and preventable attrition in the next.
Based upon the results of GCI’s Treasury Sales Benchmark, including millions of productivity data points from sales officers at twelve large banks, the team developed APEX, a proprietary tool that enables managers to evaluate, coach, and train sales staff more objectively, according to each individual's unique circumstances.
The APEX model considers six factors: geography, client mix, portfolio size, personal attributes and attitudes, bank traits and team composition. APEX uses these inputs to predict the expected annual sales of an individual sales officer.
Because it predicts each person's performance, APEX helps sales managers evaluate with greater accuracy and intervene more appropriately. Managers can use APEX data to identify underperforming sales officers. They can use it to set more appropriate goals and coach the right skills to improve performance. They can use it to evaluate new geographies and identify strong candidates that need more opportunity. To learn more about APEX and GCI's Treasury Sales Benchmark, contact Chris Gill.