BANK Code – with BANK standing for Blueprint, Action, Nurturing, and Knowledge) is an online virtual training and tool platform designed to teach sales techniques that make use of “personality science” in order to result in better sales success.
What Is BankCodevt?
Founded by CEO Cheri Tree, BANK Code is an international training and speaking company that promotes specific approaches to sales. In addition to being the founder and CEO, Tree has worked the motivational speaker circuit, sharing the stage with other financial advisors like Robert Kiyosaki and Sir Richard Branson, and she has been a visiting lecturer at both Harvard University and the University of California at Berkeley.
Founded in 2012, BANK Code is headquartered in Las Vegas, California.
BANK Code has a wide variety of products and services it provides to customers.
There are three different price points for individuals interested in gaining access to BANK Code training and tools. These three tiers, from lowest price to highest price, are:
- Core – $497 per year
- Pro – $997 per year
- Platinum – $1997 per year
Not included in this price is a standard $99 activation fee and a monthly fee of $29.95.
In addition to individual plans, BANK Code offers an Enterprise plan with several different tiers as well, dependent on the number of individuals within a company. These tiers are:
- 1-10 users: $595 per month
- 11-25 users: $995 per month
- 25-50 users: $1495 per month
- 51-75 users: $1995 per month
- 76-100 users: $2495 per month
Each tier also includes a $2495 set-up fee.
Products and services provided by BANK Code include virtual training, custom sales scripting, tracking and analytics functions, tickets to BANK Code summit meetings and retreats, live weekly webinars and conference calls, and access to the BANK Code customer typing application. This last item provides ways to specifically analyze a customer's behavior in order to understand the most effective way to market to this particular customer, and is the linchpin of much of BANK Code's business system.
Access to these myriad tools and training materials is dependent on the level of membership one buys in BANK Code. Lower levels receive fundamental training and support, while more expensive membership packages include increasingly advanced training and tools.
In addition to the opportunity to learn about and implement “personality science” in order to become a more effective marketer, BANK Code also provides opportunities to individuals who wish to market company resources directly.
The BANK Code affiliate program, which carries an annual fee of $199, does not require affiliates to purchase any BANK Code products or services personally in order to market them. However, the details of the BANK Code affiliate program – such as commission rates, whether it works under a direct sales model or if it requires recruitment of additional affiliates to build a downline, or if there are any residual commissions or other bonuses, is unknown, as this information is hidden behind a paywall.
This struck us as very odd, as the BANK Code affiliate agreement – a document detailing the rights and responsibilities of an affiliate – is both publicly available and highly detailed, providing explicit guidance on everything a BANK Code affiliate can and cannot do as an independent contractor with the company. Yet despite this, there's no info on just how much you can earn as an affiliate.
BANK Code seems to be a fairly comprehensive sales training and support system. Whether the system works well – as in whether purchasing even a low-level membership to BANK Code to evaluate whether the “personality science” the company uses is beneficial for marketers – is beyond the scope of this review, though you're welcome to do so if the spirit moves you.
It is gratifying to know that, if you want to become a BANK Code affiliate, there are no requirements to purchase any of the products or services personally. However, we're very concerned that there doesn't seem to be any way to know just what, exactly, an affiliate is getting themselves into when it comes to commission rates, compensation plans, and so on. This is, of course, highly irregular and seems highly out of place for a company that otherwise seems to have its presentation and information tuned to attract.
If this is an oversight, we hope it will be rectified soon. Otherwise, it's hard to recommend going into an affiliate situation blind.