more-arw search

Q&A Forum

Cold Calling on Banking Prospects

Nelson Rodriguez's Profile

cold calling banking prospectsI wanted to get opinions from commercial banking BDO's and sales reps.  Does cold calling work in this business?  If so, any good books or programs out there that cater to this specific niche in terms of cold calling, sales and marketing?  Thanks!


(Agent, JKS Solutions, Inc.) |

Nelson, what you will get here is the perspective of those who get called on from banks. Normally, this is not a forum for advice on how to call on CFOs, Treasurers and related professionals, but on behalf of those who are called on by banks as a former long-time treasury professional, I am happy to share in this case and ask others to do the same.

1. Do your homework, know about the company and what you might have to offer
2. Only offer "what you do best" and not everything you can try to sell
3. Actually try and build a relationship and be patient
4. Do not waste time when you do get a meeting, what can you do, how can you do it, and how can your firm be a strategic partner
5. Go through the Treasury department and do not start with the CFO, Treasury people really drive the decisions
6. Do not be overly persistent
7. Be sure your bank is the right fit for your prospects, do not try and call on companies that are out of your banks' sweet spot
8.No need to cold call, make a connection via LinkedIn or some other means before you approach a company, true cold calls are a thing of the past in the new world of social media.

Topic Expert
Brenda Morris
Title: Board of Directors, Audit Committee Chai..
Company: Boot Barn
(Board of Directors, Audit Committee Chair, Boot Barn) |

Ernie's advice is SPOT ON! As a CFO of a growing company I am open to calls from potential bank partners, but they need to be well prepared and focused, just like the 8 steps Ernie shared! Brenda

Martin Buckle
Title: President
Company: Bjorklund & Company
(President, Bjorklund & Company) |

A couple of things that I have always valued from a bank partner: advice on changes to regulations/legislation so that I don't get myself into trouble; products/ services that will enable me to maximize value and reduce risk. A banking partner who only wants to sell me something to make his own numbers is never going to be asked back.

Topic Expert
Wayne Spivak
Title: President & CFO
LinkedIn Profile
(President & CFO, |

Depending on the bank, I find talking to older banker more informative than the newly minted VP's. There has been a change in banking (many changes) and the idea that your banker was an ex-officio member of the board is one that has changed (and not for the better).

Older bankers remember this time and have a better grasp on business and are thus able to assist you in ways the younger newer banks can't. Today the younger bankers are looking for referrals for business generation, not development of their client's business.

Jim Eider
Title: Director, Commercial Business Banking
Company: Opus Bank
(Director, Commercial Business Banking, Opus Bank) |

I find that "cold-calling" does work to a certain degree. I have regular success "getting in the door" to new prospective clients to introduce myself and my bank. I usually find the CFO on linkedin prior to making the call. I never expect any business from an initial call...only the opportunity to introduce myself and make an acquaintance. Referrals are preferred, of course. I find "cold calling" on CPAs and attorneys a bit easier...I have a much higher success rate...i do ask for referrals from these business contacts and often get them.


Get Free Membership

By signing up, you will receive emails from Proformative regarding Proformative programs, events, community news and activity. You can withdraw your consent at any time. Contact Us.

Business Exchange

Browse the Business Exchange to find information, resources and peer reviews to help you select the right solution for your business.

Learn more

Contribute to Community

If you’re interested in learning more about contributing to your Proformative community, we have many ways for you to get involved. Please email [email protected] to learn more about becoming a speaker or contributing to the blogs/Q&A Forum.