Barclaycard, part of Barclays Retail and Business Banking, is Europe’s leading issuer of credit cards, with more than 20 million customers. Barclaycard was looking to enhance its sales performance and develop strategic relationships and partnerships with its clients, underpinned by a more consultative and research-led approach to sales. The organization also wanted to take its sales people to the next level, making the most of their skills and experience, and equipping them to cross-sell over to other business units. Barclaycard engaged us as a partner for this project on the strength of a successful training engagement with the organization’s Small Business unit.
The Barclaycard team started the project by speaking with the sales directors of the business units to ascertain their training needs, and our consultants then joined the process for a brainstorm session. We helped Barclaycard design new sales methodology, suggesting what it should look like, what sales tools should be included, and how to train employees to incorporate the tools into their daily working lives.
We also designed the resulting four-day sales training course to take the form of a realistic client role play, tailoring a separate simulation specifically for each of the three business units being trained. The course was intense and interactive, featuring various exercises such as pitches to panelists, client briefs, and calls with clients in order to represent a true client experience. And, we designed a two-day coaching program for the sales managers so that they would be able to coach their sales people around the new methodology and support them. seventy-five sales managers went through this coaching program and around 400 people have been through the four-day client simulation training course.
As a result, Barclaycard sales people have been given new insights into how behavior affects performance that encourages them to think more carefully about their own development. The new sales methodology has also given all sales staff a robust framework to work with, and a number of key tools and techniques that will result in better sales performance. A coaching culture has been established around the sales methodology that provides sales colleagues with the opportunity to have more coaching with their line managers.
Use of the new sales methodology has already enabled sales people to achieve some significant results. These include a four-year contract with a business unit worth £100m annual turnover; beating several competitors to a three-year agreement with an organization with annual target volumes of £6m, and securing a significant five-year contract with another large business. More importantly, the program has had a significant impact on Barclaycard’s sales population and is expected to lead to better strategic relationships with clients, enhanced consultative dialogue, improved sales performance and increased cross-selling across the business units.