Importance of personal selling in financial services
The importance of personal selling in marketing of financial services may be summarized as follows:
1. Personal selling highlights potential customers on various new financial services launched in the market.
2. Personal selling draws the attention of customers towards transactions of financial services. The transactional analysis is the lever spring of personal selling.
3. Personal selling enables the service provider to know how and under what circumstances the customers make their purchase decisions.
4. Financial service providers are able to understand the buyer behavior. The buying process involves the recognition of problem, search, alternative evaluation, choice and outcome. They explain the process which an individual goes through while arriving at a decision.
5. Personal selling views consumer behavior as a process rather than a discrete act on the part of the consumer.
6. Personal selling communicates the general information of the financial services offered, their use and benefits, relationships of the services with customers and the justification for the services offered.