Critical success factors in the personal selling process: An empirical investigation of Ecuadorian salespeople in the banking industry

Headnote

Keywords Critical success factors, Sales performance, Ecuador, Banking

Abstract This article identifies the selling techniques that are critical success factors (CSFs) for salespeople who sell banking products and services in Ecuador. The study examines the selling techniques that differentiate top and bottom sales performers in the Ecuadorian banking industry. Both self-reported and supervisor ratings are used to measure salesperson performance. The results suggest that differences in performance between top and bottom performing salespeople relate to the use of five selling techniques: examining records at the prospecting stage of the selling process; approaching prospects using statements about the salesperson, the bank, or the names of persons who referred the prospect; using customer friendly language during the sales presentation; being knowledgeable of the benefits of the banks' products and being able to clarify the products' benefits; and ensuring post-purchase satisfaction of existing customers.

Introduction

Both practitioners and academicians recognize that personal selling effectiveness has become vital to the success of banking institutions (Berry and Kantak, 1990; Bernstel, 2001). Researchers in sales have examined several demographic and psychological characteristics of salespeople in order to find the determinants of salesperson effectiveness and success (Predmore and Bonnice, 1994; Sengupta et al., 2000). Johnston and Marshall (2003) state that the performance of salespeople is a function of both personal traits and organizational factors. Churchill et al. (1985) found that the key individual-level determinants of salesperson performance are aptitude, personal characteristics, skill level, role perceptions, and motivation

Sengupta et al. (2000) found that two other individual-level variables, strategic ability and intrapreneurial ability, are significant determinants of salesperson effectiveness. The influence of these two variables is mediated by two relationship-process variables - communication quality and customers' trust. Strategic ability is defined by Sengupta et al (2000, p. 254) as:

...the cognitive capacity of a key account salesperson (KAS) to analyze customer organizational and business problems and focus on their long-term interests.

They define intrapreneurial ability as:

...the KAS's ability to locate personnel or other resources within the seller firm and deploy them to assist the customer account (Sengupta et al., p. 254).

Other individual-level variables that affect salespersons' performance include adaptability (Peterson et al., 1995), voice characteristics (Peterson et al., 1995), communication apprehension (Pitt et al., 2000), and interpersonal listening skills (Castleberry...