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Baseball Does It, Why Not the Branch?

May 8, 2014

By Gordon A. Williams IV, Executive Vice President of FMSI

It’s hard to believe that it’s already time for another baseball season to be underway.  As a lifelong baseball fan, there is nothing more exciting than the start of the baseball season and the annual ludicrous idea that the “perfect season” is ahead.  It’s always a beautiful dream to have until your team loses the second game of the year.  So much for that 162 win season!  With baseball season comes all of the conversations about statistics as well.  With terms like batting average, on base percentage, fielding percentage, and more, baseball is full of “conversion” metrics.  Like the greatest American pastime, the retail branch can also track numerous lobby employee performance conversion metrics, but in many institutions this is not the case.

In discussions with FMSI’s prospects and clients, the majority of organizations that we speak with today put most of their focus on the sales results of their employees and not on analyzing the underlying employee activities that led to the sales.  It’s sort of like ignoring the batting average, and only tracking the final score of the game.

If you consider your workforce right now, who is your strongest employee when it comes to bringing new relationships or additional wallet share to your financial institution?  You likely have a report that shows you last month’s products sold per employee.  Do you ever consider why the runner up closed less new auto loans, and what supporting data do you have to help you analyze this?  What do you notice in the following example?


While the sales numbers tell a great story about Brian and his efforts for closing new auto loans, what if we focused on his conversion ratio?  When we define a conversion ratio, we talk about focusing on the percent of specific opportunities that an employee was able to convert into a sale for your organization.  What do you notice now when we focus on the employees conversion rates?

While Brian did have the largest number of opportunities closed, Greg was clearly the “all-star” when it came to converting the opportunities to sales that came his way.  While there can be many reasons why other team members did not have as high of a conversion ratio as Greg, the key is having a formal system in place that prompts you to investigate why this is happening with ongoing feedback.  Maybe next month the institution will get more sales if they put Greg in front of more auto loan opportunities.

In the incredibly competitive financial services world, it is so important to maximize the opportunities to grow relationships and wallet share when opportunities are presented within your branches.  If you are concerned that you do not have the right systems in place to focus on these conversion ratios, consider taking a closer look at FMSI’s Lobby Tracking SystemTM, which can allow you to focus on not just the sales results, but also the insights on how you achieved them.

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