Los Angeles Banker Donne Moen Calls Sales Orientation a Crucial Part of Dealing with Corporate Middle Market
Shoultz, Donald, American Banker
Los Angeles Banker Donne Moen Calls Sales Orientation A Crucial Part of Dealing with Corporate Middle Market
To be successful in the corporate middle market, banks must create a unique middle-market culture. And one of the most important aspects of that culture is a sales orientation, according to Donne P. Moen, the new vice chairman of the Union Bank, Los Angeles.
"The demand in this new era of banking is for highly skilled, knowledgeable, sales-oriented relationship managers,' he said. "The inculcation of a sales orientation into our organizational cultures will be one of the critical success factors, if not the most critical, during the next decade.'
Mr. Moen made his observations in a speech on Wednesday here that ended the Bank Marketing Association's annual corporate/commercial marketing conference, "marketing to the middle market.'
The California banker is the architect of what many consider to be one of the most successful middle-market banking programs in the country. At the conference, Mr. Moen outlined his thoughts on the characteristics and needs of the middle-market customer and how financial institutions can be successful in serving this huge market.
"Without effective teaching, coaching, counseling, and leadership provided by an effective sales management operation at the line level, none of our marketing goals are achievable,' Mr. Moen declared. While he acknowledged that a sales mentality has not been widely accepted by bankers, the Union Bank vice chairman added that "enthusiastic marketplace behavior is already starting to replace the ordertaking orientation of prior decades.'
Sales Orientation, Market Orientation
Mr. Moen's speech followed the lead of many previous speakers--bankers and consultants--at the three and a half day annual conference. Sales orientation and market orientation were the two main prescriptions to emerge from the conference. These two, working in tandem, are considered by Mr. Moen and others as one of the keys to the successful pursuit of the corporate middle market.
Earlier in the week, top executives from Citytrust, Bridgeport, Conn., discussed how their bank's corporate and strategic plan, which targets the lower end of the middle market, is directly linked to extensive market research and market segmentation. They also described the bank's incentive system that allows the sales force to earn huge financial bonuses.
Citytrust was cited for "excellence in corporate marketing' by the Bank Marketing Association on Monday.
Mark F. Fox, senior vice president of Fleet National Bank, Providence, R.I., on Tuesday conducted a session on the development at his bank of a "corporates sales force.' A program there offers cash incentives to customer contact officers who cross-sell financial services through a referral system.
As an adjunct to sales orientation, Mr. …