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QSchork: What other interesting Ryan: The other fundamental dif- Kennedy: In my business, the chal-
ference I see is that there are fewer options in B2B than on the consumer side. There are only so many real estate agencies and so many car dealers, and it’s a high-cost, high- transaction, high-reward [sale] but an infrequent occasion. However, when you are looking at consumables, it’s endless. There are so many options. One day, consumers are buying your product; the next day they’re buying someone else’s, and you just have to be comfortable with that. There are so many more transactions; it’s a differ- ent type of selling.
Bagliebter: In the B2B world, it’s very visible and highly competitive. You know that every bank is calling on your clients all the time—and there are only so many of them. So you have to stay close to that client. That’s another aspect that I think is different.
Panarella: Though I’m in a B2C environment, I do have businesses soliciting me and telling me how
I’m going to get more people in my door. So, I think that B2B approach is definitely based on relationships and about working together to analyze what the return on investment is and how to move forward with those business partners.
“Our money is as green as every other bank’s money, so it really comes down to having certain unique selling propositions: Become very knowledgeable and network within those industries.”
—Lynn Bagliebter, EVP & Westchester Market President, Sterling National Bank
trends are you seeing in sales today?
Metzger: One trend is this concept of emotional intelligence. For sales- people especially, the better their ability to put themselves in some- body else’s shoes, the better they re- flect your brand, your company, your product—whatever it is you’re trying to sell. So, I see my firm and other firms investing a lot in emotional in- telligence. A second trend is around transparency and alignment. It’s hard to get anything past anybody, and you don’t want to. You want
to be an advocate [for the people
you are selling to]; you want to lead them down the path of making good decisions. One of the ways you do that is by being very clear on what you’re about, what your propositions are, how all of that compares to the market, and sharing those pieces of information that [potential clients] may not have had to help them make
Qa decision. If you can hit on all those things, you’re much more successful.
Schork: What about business-to- business (B2B) sales versus busi- ness-to-consumer (B2C) sales? Do they require a different set of skills and/or approaches?
Ryan: I’ve done both sides, and I think the skill sets are transferable, and they get applied on both sides. The fundamental distinction with B2B is that it’s really about partnerships and helping each other for mutual gain. Whereas, on the consumer side, it’s really about: “Are you delivering the
Qright product with the right need for the right solution at the right time?”
Partridge: B2C sales are much more transactional, aren’t they?
Kennedy: I only know the consumer side, and yes, it is a transactional relationship. But you want to have a really great ongoing relationship [with clients]. Even when the house closes, you want to stay in touch with that cli- ent because they are a source of refer- rals. It’s really rewarding when you’re selling to the children of people who bought from you 30 years ago.
lenge to Westchester is Westchester. Each of the towns and villages and municipalities and hamlets is com- pletely different from the others, and there are so many school districts. Also, people are very particular about where they want to be and how
far away they are, from a commut- ing standpoint. So, the challenge is knowing all of those ins and outs, and knowing how to direct people to the right place for their needs.
Bagliebter: In Westchester, most of the bankers all know each other and tend to have worked at a number of competitors over the years. We are all after the same thing, so it makes for competition, but it can also bring a very good working relationship, as we sometimes need other banks as partners. There’s a real local commu- nity and presence here. I’ve worked in banking in New York City, as well, and you do not know your competi- tion as well there as we know ours here in Westchester.
Q
Schork: What are the peculiarities of Westchester from a sales perspec- tive? How do sales here differ from
another market?
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