Implementation of Sales Force Effectiveness (SFE) Strategy in Banks Business Operations

Measuring performance of internal operations processes in the banking business results in the conclusion that sales skills are the worst part of the business. According to the analysis of the set of criteria only this performance failed to meet the set target. This has forced banks in the world to launch a new sales strategy in order to achieve more revenue. In the case of American industry, we see that around 800 billion dollars is from selling, but at the same time hardly anyone understands it and concerns of making it more efficient. The well-known magazines that deal with this and similar topics have only 4% of works dedicated to the sale and their effectiveness. This problem has launched a study which involved sales managers and which dealt with the question of what brings an advantage and what hinders the process of selling a product or service. Based on the information received in this study that were analyzed, synthesized and created a model known as Sales Force Effectiveness (SFE), which main aim is to show how companies/banks react to the pressure of customers, competition, economic environment for the development of a comprehensive business strategy. System of sales cannot be considered separately, but with other operating performance and all structures of bank employees. For example, management of the bank defines the size and structure of sales team, executives branch or branches, managers the training and training team, while also collecting feedback. Sellers involved in the actual sale through certain processes define themselves the objectives, priorities, needs, solutions, customers ́ beliefs to which sales relates. The success of these activities will lead to a sustainable and better relationship with customers and at the same time increase profits and market share of banks. The paper will show the introduction of SFE strategies in a bank that operates on the banking market of the Republic of Serbia, as well; this strategy can be applied to the business of insurance companies.