SMART Sales Goals
Use Case
Angie, EVP Operations
Angie knows she could be more effective if she was able to overcome two key limitations: 1) balance targets are assigned based on the balance sheet, without insight in the current potential of each branches and 2) unit targets are based on net new accounts and products / Member irrespective of new or lost money flows.
Branch leaders and staff are highly dissatisfied with the goal setting process, complaining it encourages “product push” behavior and is detrimental to the Credit Union’s mission of improving Member financial lives.
Angie’s baseline for goal setting is balances – the cumulative result of historical sales – instead of recent sales and attrition results by month which reflect current market area conditions. Goals are not SMART: yes, they are Specific and Measurable (though dysfunctional) but they are not Attainable, Realistic or Timely.
FlowTracker’s Growth Plan scenario modeling capability takes most recent year money flows and automatically projects unit and dollar goals by product line, by branch and by month as scenarios using New Money Growth and Lost Money Attrition assumptions provided by the user..
Sarah uses these goals as her sales plan.
Total benefit potential per billion in liabilities: 325 k / yr. Model your own Credit Union’s benefit realization opportunity using the FlowTracker Credit Union Benefits Calculator.
Growth plan and scenario modeling
