As a credit union, you can invest heavily in a sales training program without seeing the lasting change you expected. It's a common experience for many credit unions. In many cases, the issue is not your team; it's the training model that does not align with how credit unions build member relationships.
On average, U.S. companies spent $1,207 per employee on training in 2023. While 90% of organizations have employee retention concerns, learning opportunities are the top retention strategy.
This guide diagnoses the root cause of these training challenges and outlines a relationship-based framework for success. Understand why past sales training initiatives may not have created lasting change and learn the crucial distinction between generic training and a member-centric approach. Your sales team will gain skills they can embrace and apply to your industry's relationship-first approach.
The Hidden Symptoms of a Misaligned Program
No matter how much you spend on training, it's ineffective without the right strategy. Credit unions need to move beyond vanity metrics such as satisfaction and align training with measurable business outcomes, such as productivity and performance.
You may recognize these signs of a misaligned training program:
- Short-lived impact: You notice that new skills are forgotten within weeks after training.
- Sales hesitation: Increased employee cynicism and resistance to the word "sales."
- Sales-service divide: A persistent, unnatural divide between serving and selling throughout your organization.
- Unclear ROI: Limited measurable impact on key metrics like products per member or member retention.
Where Traditional Training and Credit Union-Specific Sales Training Differ
Traditional training can fall short in a credit union environment due to a mismatch in the underlying approach. Many sales training programs are designed for a traditional, product-centric model and are not set up for success in a member-centric credit union.
Traditional Sales Training Takes a Product-Centric Approach
The traditional sales model focuses on pushing products, hitting quotas and treating sales as a separate, transactional event. People face financial problems, and the product is the direct solution. Sales team training aims to teach specific sales skills that apply to the product lineup.
While the traditional model is great for product-first providers, it lacks the focus on relationships that many credit unions hold as a foundational value. There's nothing inherently wrong with a product-first sales model. But it's not always the best choice for every industry.
The Credit Union Model Is Member-Centric
Credit unions, on the other hand, focus on identifying needs, building relationships and genuinely improving the financial well-being of their members. Sales teams need to build lasting relationships with members and solve their unique problems. Not with products, but with skilled assistance and great service. The sales are a natural outcome of helping members.
Sales teams within credit unions still need to sell. But their primary goal should be to solve a member's problem and inspire faith in an organization's product through thoughtful guidance. When members feel cared for, they don't need a hard sell to stay loyal to your organization. When you try to apply the aforementioned product-centric approach to a member-focused industry, it's no wonder that generic training programs may not create lasting results.
How This Mismatch Shows Up
The mismatch often comes from a difference between the training style and the sales approach, creating friction within specific departments. Credit unions need to have consultative conversations with members and develop custom solutions. Often, traditional sales training scripts can steer the conversation toward closing a deal rather than connecting with a member.
A generic, script-based sales approach doesn't always align with these needs. Your contact centers, outbound call center and the lending center each have their own sales training needs based on the conversations they have with members. Each requires a more member-focused training approach applicable across ever-changing scenarios.
The Proven Solution Is A Relationship-Based Framework
Our entire philosophy is built on being the member-centric alternative to product-centric training, specifically what credit unions need. Our partnership with the Filene Research Institute enables us to develop our methodology with real-world data.
Training success requires a framework built from the ground up to align with a credit union's mission. Our sales training is built on a relationship-selling model that focuses less on products and more on helping members feel seen and supported.
Our sales training programs for credit unions include:
- Relationship-based sales training: Building training around relationships helps your credit union attract and retain members by fostering long-term relationships. Relationship selling focuses on consultative conversations above aggressive sales tactics.
- Referral sales training: Members want added value and services that exceed their expectations. Referral training focuses on improving members' financial well-being and integrates seamlessly with service to offer a holistic experience.
- Contact center training: When you want your teams to focus less on transactions and more on building ongoing relationships between members and the credit union, you need training tailored for contact center professionals who need to build relationships rather than sell.
Your Trusted Partner in Credit Union Sales Training
ServiStar Consulting offers specialized training tailored to credit unions over generalist training. Our teams know the ins and outs of your industry and can instill the confidence your teams need to build long-term relationships with members and genuinely improve their financial well-being.
Credit unions that choose our sales training programs benefit from:
- Data-driven training: Experience our enriched training, backed by data from the Filene Research Institute on high-performing employees and leaders.
- Real ROI: See significant improvements in key performance indicators, including new members and higher returns.
- Proven satisfaction: We have an average satisfaction rating of 4.8/5 across over 500 client surveys.
Build a Sales Culture That Supports Your Members
Sales training should feel natural to the way your credit union already serves members. ServiStar Consulting can help your team strengthen consultative conversations, connect sales with service and create a relationship-based approach that lasts.
Start a conversation with our team about your sales training goals and how ServiStar Consulting can help your team grow with confidence.