Weekly Newsletter - 10.09.2024

Securing Sales Enablement Buy-In

Author

Zihan Lyu
October 09, 2024

Editor’s Pick 🌟

The finance sector demands precision and trust in every sales interaction. AI is transforming how financial services teams manage relationships, optimize sales strategies, and handle complex product offerings.

In "AI in Sales: Turning Big Promises into Big Wins," see how AI helps finance companies:

  • Reduce time spent on client onboarding and compliance while enhancing service delivery.

  • Provide tailored insights and coaching to reps handling high-value clients.

  • Forecast financial product sales and improve pipeline management with precision.

AI can streamline your finance sales operations and lead to stronger client relationships and better outcomes.

🔗 Read the full ebook here.

Industry Insights 🔮

Generative AI in finance is a powerful tool, not a human-like teammate. It enhances efficiency by handling routine tasks, sparking innovation, and accelerating learning. Financial institutions should define AI's role clearly, ensuring it complements human judgment and creativity, driving progress without over-reliance.

Securing sales enablement buy-in is crucial for aligning training initiatives with business goals. The Kirkpatrick Model offers a structured approach to evaluate the effectiveness of these initiatives, ensuring they deliver tangible business value. This model, consisting of four levels—Reaction, Learning, Behavior, and Results—provides a comprehensive framework for assessing training impact.

Beverlie Heyman, an expert in sales enablement, has developed a Sales Enablement Maturity Model that integrates the Kirkpatrick Model, adding a fifth level to emphasize the correlation between learning results and sales outcomes. This approach helps practitioners refine their strategies, improve sales performance, and secure executive buy-in.

Communicating the impact of sales enablement efforts to stakeholders is essential for continued support and investment. By applying the Kirkpatrick Model, practitioners can become strategic business partners, driving better sales performance and aligning with executive leadership.

J.P. Morgan Payments, Fifth Third, and Wells Fargo are leading embedded finance innovations, as highlighted by Tearsheet's The Big Bank Theory Awards. These banks, alongside startups, are advancing financial services through APIs, partnerships, and proprietary solutions, showcasing significant progress in the embedded finance landscape.

AI is transforming wealth management, with 90% of investors seeing its potential in financial research. A global survey highlights AI's benefits, such as automation and cost-effectiveness, while emphasizing the need for human advisors. A hybrid model combining AI and human expertise is expected to become standard in the industry.