Introduction
The banking sector is one of the most lucrative businesses in the world. However, the rate at which new banks are coming up has created competition thus threatening the very existence of the older banks. This has made banks to come up with other products apart from the regular banking services. Since most banks offer almost the same services, there is a need for individual banks to come up with innovative ways that can lock customers in their system. This calls for salespeople in every bank to come up with innovative ways on how they can sell the bank’s products while maintaining customer loyalty at the same time. (Rocha)
Improving Salesperson’s Services
I work in one of the branches for the NY Community Bank as a sales representative. My duty at the bank is to get people to buy the PerfectHealth Savings insurance that is provided by the bank. This health insurance cover targets the middle-income people, which is the most underinsured group in America. The reason why people in this group lack health insurance is that their income is above the one required to qualify for universal health care and below the one required by private health insurance.
The low premiums paid by people in this scheme make it the ideal cover for middle-income earners hoping to withdraw from the High Deductible Health Plans that are currently available in the market. (Sooran)
Ideally, everyone who is enrolled in the NYCB PerfectHealth Savings Account enjoys numerous benefits. Unlike other banks that provide health insurance, NYCB provides its clients with great convenience when it comes to the drawing of checks. On top of having the freedom to draw checks for qualified medical expenses, one is not charged for the first 200 checks drawn. This is a big plus for our customers since no other bank gives this kind of benefit.
Another benefit related to this account is that the customer is provided with a VisaR check card. This means that a client can pay for medical goods and services in any country that has VisaR outlets. In reality, only 7% of health insurance providers provide their clients with this service. Since nearly every bank offers almost the same products, it pays to be proactive rather than reactive. This is the reason why the bank allows customers enrolled in the NYCB PerfectHealth Savings Account the luxury of Free Online Banking with Bill Pay. This benefit is only available to less than 10% of all health insurance providers. (Sooran)
Below is a diagram showing the advantage that the NYCB PerfectHealth Savings Account has over other banks proving health care insurance:
Apart from the customers, many benefits are directly linked to the kind of work I do at NYCB. Since most middle-income earners have to work for long hours, it means that we have to reach them at their place of work since they cannot get the time to come to the bank. This ensures that I get sufficient time to travel and meet new people, which are my two favorite hobbies. On top of this, the bank has enrolled me in this scheme since it is a requirement for everyone working in our department. This scheme allows me to save the extra money that I would otherwise have paid under the High Deductible Health Plan. (Briones)
Conclusion
Salespeople are one of the most important members of the banking staff. This is because they create awareness for new products both outside and inside the confines of the bank. A good salesperson can help in selling the bank’s products thus increasing its customer base as well as ensuring that existing customers do not lose their loyalty to the bank. This is an important task given the competitive nature of the banking sector.
Works Cited
Briones, Joselito. Live the Brand or Drive the Sale? 2010. Web.
Rocha, Roberto. How Banks Can Improve Customer Service, 2007. Web.
Sooran, Chand. How do Bank Derivatives Trading Operatives Work?, n.d. Web.