Self directed retirement account
Sales Assessment Results
34
Needs Improvement
10 questions
Maximum score: 100
Completed in
Let’s get real here—your performance is falling short with an average score of 3.4. There’s a clear pattern of oversimplifying responses and missing the mark on addressing your prospects’ concerns. You’ve got to step it up and dig deeper into their issues. Acknowledge their worries, provide detailed reassurance, and explore their situations with probing questions. You need to practice the art of empathy and active listening; they’re not just buzzwords, they’re your lifeline in sales.
Your strongest technique appears to be a basic understanding of solution-focused selling, but you’re only scratching the surface. To really excel, you need to master consultative selling and objection handling techniques. These will help you engage prospects more effectively and build the trust you’re currently lacking.
Here’s your coaching moment: think of every conversation as a chance to build a relationship. Don’t just answer questions—create a dialogue. When a prospect shares a concern, that’s your golden opportunity to connect, reassure, and demonstrate the value you bring. Remember, sales is more than just a transaction; it’s about building bridges, not walls. Get to work!
Question Breakdown
1.
1
/ 10Question:
"I'm worried about how this self-directed retirement account will fit into my current budget and monthly payments."
Answer:
What is your monthly budget?
Feedback:
The response is too simplistic and does not effectively address the prospect's concern about budgeting. Simply asking for the monthly budget fails to provide reassurance or explore the implications of their worry. A more comprehensive response should include acknowledgment of their concern, followed by probing questions to understand their financial situation better. This would demonstrate empathy and active listening, which are crucial in building trust in the financial services industry. Offering potential solutions or value propositions related to budget management could strengthen the conversation.
2.
2
/ 10Question:
"What assurances do you have about the security of my information when using your platform?"
Answer:
Sounds like you have a specific concern.
Feedback:
The response lacks depth and fails to directly address the prospect's concern about information security. A more effective answer would acknowledge the importance of data security, offer specific details about security measures in place, and provide reassurances that protect the prospect's sensitive information. Additionally, engaging the prospect with questions about their security priorities could demonstrate empathy and active listening.
3.
2
/ 10Question:
"I've had bad experiences with previous retirement accounts; how do I know you won't let me down too?"
Answer:
Sounds like there’s a story there.
Feedback:
The response fails to engage meaningfully with the prospect's concern about past negative experiences. Instead of merely acknowledging that there's a story, the salesperson should have asked follow-up questions to understand the specifics of those bad experiences. This would demonstrate empathy and active listening. Additionally, addressing the concern with reassurances about the company's reliability, testimonials, or guarantees could help build trust. Providing a solution-focused approach by highlighting how this service differentiates from past experiences would be beneficial.
4.
4
/ 10Question:
"Can you explain how easily I can integrate this with my existing financial tools?"
Answer:
With our plans you can invest in anything except collectibles so many of our clients consolidate all their plans into one with us which makes managing their retirement account much simpler.
Feedback:
The response touches on the ease of managing retirement accounts by consolidating plans, which is a relevant point. However, it doesn't directly address how integration with existing financial tools is achieved. To improve, the salesperson should explicitly explain the integration process, any specific tools that are compatible, and how this can simplify the client's overall financial management. Asking questions about the client's current tools and financial management practices would also demonstrate active listening and curiosity, enhancing the conversation.
5.
5
/ 10Question:
"Is there a way to get a better price if I bring this solution to my team for approval?"
Answer:
We have some flexibility on repeat business. Otherwise the initial set up and annul fee is the same for everybody.
Feedback:
The response acknowledges the possibility of flexibility for repeat business, which is a positive point. However, it fails to directly address the prospect's inquiry about obtaining a better price for team approval. A more effective approach would involve explaining how bringing the solution to a team could lead to potential discounts or negotiation opportunities. Additionally, the salesperson should express an understanding of the prospect's situation and explore their team's decision-making process. Engaging the prospect with questions about their team's needs or concerns would also demonstrate curiosity and deepen the relationship.
6.
4
/ 10Question:
"I need to understand the ROI; how will this account benefit me in the long run?"
Answer:
Well the sky’s the limit on the returns you can get. Since you can invest in assets like real estate and crypto the returns can be astronomical. But we encourage our clients to invest in what they know.
Feedback:
The response provides some insight into potential high returns from investing in various asset classes like real estate and crypto, which is a good starting point. However, it lacks specific details on how these investments translate into a tangible ROI for the prospect, failing to connect the dots. A more effective response would include examples of historical performance, comparisons to traditional investments, and how these ROI figures might impact their retirement goals. Additionally, engaging the prospect with questions about their investment interests or experiences could enhance understanding and rapport. Overall, it needs to be more solution-focused and tailored to the prospect's concerns about long-term benefits.
7.
3
/ 10Question:
"What happens if I decide to change my mind after I start the account?"
Answer:
Cancel anytime.
Feedback:
The response is overly simplistic and does not effectively engage with the prospect's concern about the implications of changing their mind. While stating "Cancel anytime" gives a sense of flexibility, it lacks detail on the cancellation process, any potential fees or impacts on previously accrued benefits, and reassurance about the ease of canceling. To improve, it's essential to communicate empathy towards the prospect's hesitation, provide a more comprehensive explanation of the cancellation policy, and ask follow-up questions to understand their concerns better. This approach would demonstrate active listening and build rapport, which is crucial in the financial services industry.
8.
5
/ 10Question:
"How do I know that your service levels will meet my expectations compared to competitors?"
Answer:
Please share your expectations with me and where others have fallen short.
Feedback:
The response demonstrates a willingness to understand the prospect's expectations, which is a positive aspect. However, it falls short of directly addressing the concern regarding service levels compared to competitors. A more effective approach would involve acknowledging the importance of service quality and offering specific information about your service levels, such as response times, customer support options, and any unique features that differentiate your offerings from competitors. Additionally, sharing testimonials or case studies from satisfied customers could provide social proof and build trust. Engaging the prospect with follow-up questions about their previous experiences with service providers could further enhance understanding and rapport.
9.
3
/ 10Question:
"What kind of support do you provide after I've set up the account?"
Answer:
Unlimited client support.
Feedback:
The response is overly simplistic and does not provide detail about the nature of the support offered. While stating "unlimited client support" is a good start, it lacks specifics such as what types of support are available (e.g., phone, email, chat), the hours of support, response times, and any resources like FAQs or tutorials. Additionally, the salesperson could enhance their response by inviting the prospect to ask more specific questions about their support needs, which would demonstrate active listening and a customer-centric approach. Providing examples of how support has helped other clients could also illustrate the value of this service.
10.
5
/ 10Question:
"I'm concerned about the complexity of the onboarding process; will it disrupt my current financial workflow?"
Answer:
Plan on about 2 hours of work over the next 10 business days or so. We’ll work at your pace.
Feedback:
The response provides a basic outline of the time commitment involved in the onboarding process, which is a good start. However, it lacks a comprehensive explanation of the onboarding process itself, such as specific steps, how it integrates with the prospect's current financial workflow, and any support provided during this phase. It would benefit from expressing empathy towards their concern and reassurance that the process is designed to minimize disruption. Additionally, asking probing questions about their current workflow and any specific concerns they may have would demonstrate active listening and a collaborative approach.