INTRODUCTION Headquartered in London, Standard Chartered Bank has local presence throughout seventeen countries on six continents and

is the worlds premier banking organisation focused on serving emerging markets. In 2004, the transactional sales division of the bank decided it needed to improve its ability to compete and win on a more consistent basis against increasing competition from larger international banks. As part of this strategy, the bank launched new competitive products, set aggressive growth goals and targeted a new type of client transitioning from being primarily a middle-market bank to working with large U.S. and European based multinational organisations. Standard Chartered realised that in order to win business at this level, there were some sales challenges that needed to be addressed. SALES CHALLENGES Our sales teams tended to be transactional in their approach to clients, pushing product and doing most of the talking during an average sales call, said Tom ODonnell, Global Head of Transactional Sales. The quality of the competition dictated that we needed to be more clientfocused, more consultative in our sales approach. The main challenge I had was that there was not a true sales-driven culture centered on meeting the needs of the customer, and we needed to get one quick. Also, our Sales Managers were never trained on coaching and developing their sales people, and I felt that was a critical part of improving overall performance. THE HUTHWAITE SOLUTION Huthwaite and Standard Chartered worked together to customize a five-step sales improvement process: 1. Representatives of various levels of management worked with Huthwaite to establish clear post-training application and coaching metrics. 2. All sales people and managers participated in Strategic SPIN workshops (to date conducted in Singapore, Hong Kong, United States, Thailand and India, UK and Kenya) to build consultative skills and enhance major account strategic planning. 3. Sales managers participated in a coaching clinic to learn how, who and when to coach their direct reports. 4. Various levels of management participated in structured coaching fieldwork to reinforce the skills - and measure the application of the skills with actual customers. 5. Managers came together ninety days after the training for a Coaches Forum, to report on progress, examine challenges and develop further coaching plans. THE RESULTS I went looking for evidence to see if our investment with Huthwaite had yielded results - I found it, says Tom ODonnell. For one, our sales people are more effective at planning calls in advance and identifying a clear, measurable outcome for each call. This is helping them to spend time during the call focusing on the customer and their problems and needs, instead of talking about all of the products that we have to offer. I have received feedback from customers stating

that our sales people are talking less, listening more and that they appreciate the new approach. In what has been a tough year for international banking, especially in Asia, the SPIN Selling approach has been a major contributor to help us increase transactions and volume. We are winning more competitive deals than before the kind of deals that we couldnt have won before SPIN. Since completing the training, we have won four of the largest deals in the history of the Transactional Sales division at Standard Chartered and SPIN has played a part in that. Also, on a country-by-country basis, there is a direct correlation between those sales people who have embraced the SPIN Selling methodology and higher sales results. BUILDING ON SUCCESS Standard Chartered Bank and Huthwaite are partnering again to provide the next level of ongoing sales development for its international sales force improving the persuasiveness and effectiveness of the banks presentations and proposals.