Advice for a New Commercial Banker/RM
I’m excited to share that I’ve accepted a new role as a commercial relationship manager at a regional bank! After spending the last four years on the credit side, I’m thrilled to transition to sales. I’m reaching out for any general advice, tips, or tricks that could help me in this new position. I’ve heard that the role is less about traditional sales and more about professional networking—does anyone have insights on that?
Thank you in advance!
One response
Congratulations on your new role as a commercial relationship manager! Transitioning from credit to sales is an exciting opportunity, and you’re definitely right that it’s often more about networking and relationship-building than traditional sales tactics. Here are some tips that might help you succeed in your new position:
Leverage Your Credit Knowledge: Your background in credit is a valuable asset. Use your understanding of financial statements and credit risk to build credibility with clients. This knowledge can help you provide tailored solutions and advice.
Focus on Building Relationships: Networking is key in this role. Attend industry events, join local business organizations, and reach out to potential clients. Building trust takes time, so prioritize establishing long-term relationships over quick sales.
Active Listening: Pay close attention to your clients’ needs and challenges. Ask open-ended questions, and be genuinely interested in their responses. This will help you identify opportunities where your bank can add value.
Stay Informed: Keep up with trends in the industry and your clients’ sectors. Being knowledgeable about the market will help you have meaningful conversations and position yourself as a trusted advisor.
Set Clear Goals: Define what success looks like in your new role. Set specific, measurable goals for client acquisition, retention, and engagement. Regularly assess your progress and adjust your strategies as needed.
Utilize Internal Resources: Don’t hesitate to tap into your colleagues in credit, operations, and other departments for support. Collaboration can lead to better solutions for your clients.
Follow Up Consistently: Be diligent about following up with prospects and clients after meetings or events. Maintaining regular contact shows your commitment and keeps you on their radar.
Seek Feedback and Mentorship: Don’t be afraid to ask for feedback from more experienced colleagues or mentors. Their insights can help you refine your approach and develop your skills further.
Stay Organized: Use CRM tools to track your interactions and follow-ups. Staying organized will help you manage your growing network and ensure you don’t miss opportunities.
Be Patient: Building relationships takes time. Don’t get discouraged if results don’t come immediately. Focus on providing value, and the results will follow.
Best of luck in your new position! Your background combined with these strategies will help you thrive in your new role.