Unit 43: Role of Direct Selling Agent / Direct Marketing Agent in a Bank
Unit 43 : Role of Direct Selling Agent/Direct Marketing Agent in a Bank
Roles and Responsibilities of Direct Selling Agent/Representative In The primary responsibility of the Banking Direct Selling Agent/Representative is branch management and in-branch services, teller and platform services, financial product sales, customer services, and management of lending risk to retail customer base. He builds a client base for banking direct sales through prospecting, networking, and referrals. A typical job description for the Banking Direct Selling Agent Representative role may include: 1. Develops new business prospects in specific geographic areas through cold calls. 2. Interacts with existing customers to increase sales of the bank's products and services. 3. Requires a high school diploma or equivalent and 2-4 years of experience in the field or in a related area. 4. Familiar with standard concepts, practices, and procedures within a particular field. IBA Model Code of Conduct for Direct Selling Agents 1. Tele-calling a Prospect (a prospective customer) A prospect is to be contacted for sourcing a bank product or bank related product only under the following circumstances: a. When prospect has expressed a desire to acquire a product through the bank's internet site/call centre/Branch or through the Relationship Manager at the bank or has been referred to by another prospect/customer or is an existing customer of the bank who has given consent for accepting calls on other products of the bank. b. When the prospect's name/telephone no/ address is available & has been taken from one of the lists/directories/databases approved by the DSA Manager/Team leader, after taking his/ her consent. The TME should not call a person whose name/number is flagged in any "do not disturb" list made available to him/her. 2. When you may contact a prospect on telephone Telephonic contact must normally be limited between 0930 Hrs and 1900 Hrs. However, it may be ensured that a prospect is contacted only when the call is not expected to inconvenience him/her. Calls earlier or later than the prescribed time period may be placed only under the following conditions: When the prospect has expressly authorized TME/BDE to do so either in writing or orally.
3. Can the prospect's interest be discussed with anybody else? DSA should respect a prospect's privacy. The prospect's interest may normally be discussed only with the prospect and any other individual/family member such as prospect's accountant/secretary /spouse, authorized by the prospect.
4. Leaving messages and contacting persons other than the prospect. Calls must first be placed to the prospect. In the event the prospect is not available, a message may be left for him/her. The aim of the message should be to get the prospect to return the call or to check for a convenient time to call again. Ordinarily, such messages may be restricted to: Please leave a message that ______________ (Name of officer) representing Axis Bank called and requested to call back at __________ (phone number)". As a general rule, the message must indicate: That the purpose of the call is regarding selling or distributing a bank product of Axis Bank.
5. No misleading statements/misrepresentations permitted: TME/BDE should not - • Mislead the prospect on any service / product offered; • Mislead the prospect about their business or organization's name, or falsely represent themselves. • Make any false / unauthorised commitment on behalf of Axis Bank for any facility/service.
6. Telemarketing Etiquettes PRE CALL No calls prior to 0930 Hrs or post 1900 Hrs unless specifically requested. - No serial dialing - No calling on lists unless list is cleared by team leader DURING CALL - Identify yourself, your company and your principal - Request permission to proceed - If denied permission, apologize and politely disconnect. - State reason for your call - Always offer to call back on landline, if call is made to a cell number - Never interrupt or argue - To the extent possible, talk in the language which is most comfortable to the prospect - Keep the conversation limited to business matters - Check for understanding of "Most Important Terms and Conditions" by the customer if he plans to buy the product - Reconfirm next call or next visit details - Provide your telephone no, your supervisor's name or your bank officer contact details if asked for by the customer. - Thank the customer for his/her time POST CALL - Customers who have expressed their lack of interest for the offering should not be called for the next 3 months with the same offer - Provide feedback to the bank on customers who have expressed their desire to be flagged "Do Not Disturb" - Never call or entertain calls from customers regarding products already sold. Advise them to contact the Customer Service Staff of the bank.
7. Gifts or bribes: TME/BDE's must not accept gifts from prospects or bribes of any kind. Any TME/BDE offered a bribe or payment of any kind by a customer must report the offer to his/her management. 8. Precautions to be taken on visits/contacts BDE should : • Respect personal space - maintain adequate distance from the prospect. • Not enter the prospect's residence/office against his/her wishes; • Not visit in large numbers - i.e. not more than one BDE and one supervisor, if required. • Respect the prospect's privacy. • If the prospect is not present and only family members/office persons are present at the time of the visit, he/she should end the visit with a request for the prospect to call back. • Provide his/her telephone number, supervisor's name or the concerned bank officer's contact details, if asked for by the customer. • Limit discussions with the prospect to the business - Maintain a professional distance.
9. Other important aspects - Appearance & Dress Code BDE's must be appropriately dressed - For men this means - Well ironed trousers; - Well ironed shirt, shirt sleeves preferably buttoned down. For women this means - Well ironed formal attire (Saree, Suit etc.); - Well groomed appearance. Jeans and/or T Shirt, open sandals are not considered appropriate.
10. Handling of letters & other communication : Any communication sent to the prospect should be only in the mode and format approved by the Bank.