Banks operate differently to create their marketing and sales positions. Many look to the bank sales coordinator as the "catch-all" for all product marketing. The actual position and duties of a bank sales coordinator could be broad or could be concentrated in a specific area, depending on the sales philosophy of the individual bank.
Historically, banks are known for sponsoring a majority of the local area activities. The bank sales coordinator is usually the "face" of the bank out at these events, promoting the bank through networking. The coordinator may also be responsible for the individual marketing efforts of each branch by setting up booths at trade fairs, creating advertising for the bank, and purchasing advertising in local and area media.
Most banks today have a mortgage department. It is the job of the bank sales coordinator to network with realtors, real estate attorneys, and accountants to try to get their customers to purchase a mortgage through their bank. This is done through cold calling, "lunch and learns" and "meet and greets." Additionally, the bank sales coordinator may try to get clients through other routes such as marketing to residents of apartment complexes, college graduates and newcomers to the area.
The commercial loan department is usually the largest part of any retail bank. It is the job of the bank sales coordinator to bring in new business to this department through networking and tapping into the current business client base of the bank. This is done by offering loan opportunities to new businesses in the area or those looking to expand.
Basic Deposit Relationships
The bread and butter of any bank's portfolio is customer accounts in basic checking, savings, money market, and certificates of deposits. These customers are seen daily and bring in a majority of the fee income to the bank; they are also the ones who can most easily end their relationship with the bank. It is vital to keep these customers happy and to entice them to bring their friends and family to bank with them as well. The bank sales coordinator does this through basic client relations techniques such as customer appreciation days and gifts to clients who bring in new customers.
Banks are starting to diversify now by adding investment products to their portfolio such as IRA, stock and retirement accounts. These accounts are usually quite large and are hard to move; therefore, once you get a client, she is likely to stay. These types of clients are best found through looking at your existing client base and selling them new products. The bank sales coordinator will go through the current client database and find those clients who are carrying high balances in their checking and savings accounts and try to convert them over to an investment account. This is a great way to increase the bank's relationship with existing customers.
Account Officer Job Description
Account officers work in the financial services and banking industry. In some cases insurance companies have account officers as well, as they...
Sales Officer Job Description
A sales officer works to sell a product or service for a company. Sales officers work in a variety of industries, from...
Loan Coordinator Job Description
A loan coordinator serves a front line role in a bank's loan processing department. This person typically coordinates much of the legwork...
- Definition of a Sales Coordinator
Job Description for a Banking Marketing Manager
Marketing is a constantly changing field that offers diverse career paths for college graduates and experienced professionals. Though a marketing department's strategy...
Job Description for a Hotel Sales Coordinator
A hotel sales coordinator focuses on increasing sales revenue for the business through consistent marketing and customer service. Each function supports the...
Duties & Responsibilities of a Sales Coordinator
Sales coordinators are usually employed by wholesale distribution companies or in the manufacturing sector. They are also employed by marketing groups and...