Merchant processing
Sales Assessment Results
44
Needs Improvement
10 questions
Maximum score: 100
Completed in
It's time for some tough love. Your average score of 4.4 reflects a significant struggle in effectively engaging with prospects. You’ve shown flashes of understanding, but those moments are overshadowed by a lack of depth and curiosity in your responses. When addressing concerns, you often default to simplistic answers that fail to explore the underlying issues. Instead of asking probing questions, you seem to skim the surface, missing opportunities to connect and build rapport.
Your strongest moments came when you reframed expenses as potential savings, showcasing a grasp of value selling. However, too many of your responses lacked a clear value proposition or closing techniques, which is crucial in moving the sales conversation forward. Moreover, your tendency to dismiss concerns with sarcasm or irrelevant analogies can alienate prospects instead of drawing them in.
To elevate your game, you should dive deeper into consultative selling techniques and objection handling. These areas will help you engage prospects more effectively and address their concerns with the depth they deserve. Remember, every conversation is an opportunity to build a relationship, not just close a sale.
Here’s your coaching moment: Imagine each prospect as a puzzle waiting to be solved. Don’t just jump to conclusions or surface-level answers—take the time to understand their unique needs and experiences. The more you listen, the more valuable your solutions will become. Now get out there and start building those connections!
Question Breakdown
1.
1
/ 10Question:
"We've tried similar payment processing solutions before, and they didn't deliver on ROI as promised."
Answer:
Didn’t deliver as promised?
Feedback:
This response falls short of effectively addressing the prospect's concern. Simply asking 'Didn’t deliver as promised?' does not provide any value, nor does it show an understanding of the prospect's experience. It lacks curiosity and doesn't engage the prospect in a meaningful way. Instead, you could have asked probing questions to understand their past experiences, what specific ROI they were expecting, and how your solution could differ. This would demonstrate active listening and a collaborative approach. Overall, the response needs a more thoughtful, solution-focused approach to build rapport and explore value.
Score: 1 for lack of engagement and addressing the concern.
2.
4
/ 10Question:
"I'm concerned that changing our payment processor might disrupt our operations and confuse our staff."
Answer:
I understand how you could feel that way. Some of my current clients felt the same way before they got the program. What they found was that it actually helped streamline their processes and their employees loved it.
Feedback:
The response acknowledges the prospect's concern but falls short in several areas. While it shows some understanding, it lacks a deeper exploration of the specific fears the prospect may have regarding disruption. It could benefit from asking follow-up questions to uncover the root of their concerns and provide tailored solutions that address those specific issues. Additionally, the response does not include a strong closing technique or a clear value proposition that highlights the benefits of switching processors. Overall, it could be more solution-focused and collaborative, inviting further dialogue rather than just presenting a general success story.
Score: 4/10
3.
2
/ 10Question:
"With the current market conditions, how can I be sure of the long-term viability of your solution?"
Answer:
Do you expect the market to be in a decline for the rest of eternity? Of course not. There will be ups and downs that no one can predict. This ads stability in an uncertain world.
Feedback:
The response doesn't effectively address the prospect's concerns about long-term viability. Instead of acknowledging the uncertainty and providing a reassuring, well-rounded perspective, it dismisses the concern with sarcasm, which may come off as defensive rather than collaborative. A better approach would have included discussing the stability of the solution, sharing success stories, or presenting industry data that highlights resilience. There was no clear closing technique or an invitation for further discussion. Overall, the tone was inappropriate for the industry, lacking the professionalism needed in merchant processing.
Additionally, there were no questions asked to further explore the prospect's specific concerns, which would have shown curiosity and active listening.
4.
2
/ 10Question:
"Can you guarantee that your system will comply with upcoming regulatory requirements in our industry?"
Answer:
Yes
Feedback:
The response is overly simplistic and fails to address the complexity of the objection. While saying 'Yes' might seem affirmative, it doesn't provide any evidence or reassurance about the compliance process or how the company will ensure adherence to future regulations. There is no exploration of the customer's specific concerns or the implications of non-compliance. A more effective approach would involve explaining how the company stays informed about regulatory changes, any proactive measures taken, and perhaps inviting further questions to engage the prospect. Overall, this response lacks depth, curiosity, and a collaborative approach.
5.
5
/ 10Question:
"We've been with our current vendor for years; what makes you different and more reliable?"
Answer:
That’s amazing and incredibly loyal! To answer your question, what makes us different? This is an ever changing environment with lots of technology coming to market all the time. Would you appreciate a partner that can offer the best available technology for your specific industry?
Feedback:
The response acknowledges the prospect's loyalty, which is a good start for building rapport. However, it lacks specificity about what differentiates your company from the current vendor. Instead of just asking if the prospect would appreciate a partner offering better technology, it could benefit from providing examples or specific advantages your company offers. Clear communication and a stronger solution-focused approach would enhance the response. Furthermore, exploring the prospect's current challenges with their vendor could open more doors for discussion. Overall, while there is a good tone, the response does not effectively address the concern or demonstrate clear value.
Score: 5.
6.
5
/ 10Question:
"My stakeholders are worried about the integration process; how will this affect our existing systems?"
Answer:
That is a great question, with systems like yours, we integrate via var sheet. What does this mean for them? Nothing. I will handle the integration process to make sure no interruptions in their day or operations.
Feedback:
The response begins positively, acknowledging the concern, which is a good start. However, it lacks depth in addressing the stakeholders' specific worries about integration. Instead of just stating that it won't affect them, you could expand by explaining the integration process in more detail and how it minimizes disruption. You could also include a reassurance about ongoing support and perhaps share a success story or example to build trust. Additionally, an open-ended question to further explore their concerns or to invite further discussion would enhance engagement. Overall, it communicates a solution but misses an opportunity for deeper connection and exploration of value.
Score: 5
7.
8
/ 10Question:
"Given our budget constraints, how can we ensure that this solution provides enough value to justify the expense?"
Answer:
That’s the best part. This wont be an expense. With this program, you are saving $500 per month! That’s $500 more a month you can put back into your business for marketing or employee bonuses. Imagine what that extra $500 in your budget would do for your business!
Feedback:
The response effectively addresses the objection by reframing the expense as a cost-saving opportunity, which is a great approach in the merchant processing industry where value is crucial. The salesperson does a good job of highlighting potential savings, which can resonate with budget-conscious prospects. However, while the communication is clear and engaging, it could benefit from incorporating a bit more curiosity by asking follow-up questions about the prospect's current situation or budget priorities. This would enhance the consultative aspect and demonstrate active listening. A closing technique could have been employed here to encourage a commitment or next step. Overall, the focus on value is strong, but more engagement and exploration of the prospect's specific needs would elevate the effectiveness.
8.
6
/ 10Question:
"I need more time to assess the potential impact of this change on our overall strategy; can you accommodate that?"
Answer:
Absolutely! In situations like this, what we will do is the administrative portion now, schedule a demo, and finalize then. I’ll get started now
Feedback:
The response addresses the prospect's need for time by suggesting administrative tasks can proceed while scheduling a demo, showing willingness to accommodate their request. However, it lacks a more consultative approach; asking open-ended questions about their concerns or the specific aspects of the potential impact could deepen understanding and build rapport. The tone is friendly, but the lack of a clear next step or emphasis on the value of moving forward slightly weakens the response. Overall, there's good initiative, but it could be improved with more engagement and exploration of the prospect's needs.
9.
4
/ 10Question:
"There's skepticism among my team regarding your company's expertise in our specific industry; how do you address that?"
Answer:
That is true, I’m not a doctor and have never performed a surgery in my life, and to be honest…..I’m not sure I could tell you the difference between a spleen and a liver haha. The expertise I bring is in our industry and how it relates to the business side of your industry. Keeping patients happy and paid up. Reducing friction points between your office manager and your patients. Giving your practice the tools you want and need to operate smooth and efficiently.
Feedback:
The response begins with an awkward and irrelevant analogy about medicine, which may confuse the prospect rather than build credibility. While the salesperson attempts to pivot to their expertise, they could have directly acknowledged the prospect's concern about skepticism by providing specific examples of how their company has successfully worked with similar businesses in the merchant processing space. They should have also explored the prospect's specific needs and concerns to demonstrate active listening and a collaborative approach. A more focused and tailored response would have been beneficial here.
10.
7
/ 10Question:
"We are facing pressing priorities elsewhere; how can you ensure timely support if we decide to move forward now?"
Answer:
I completely understand. You don’t want to add something to your plate that has little to no support. On top of our award winning, 24/7 technical support that is completely here in the US, I am here locally, and we have a follow up protocol that ensures proactive support.
Feedback:
The response effectively addresses the concern regarding timely support by highlighting the 24/7 US-based technical support and the local presence, which builds trust. However, it could improve by asking a follow-up question to discover more about the prospect's specific pressing priorities, thereby demonstrating curiosity and a collaborative approach. Additionally, it lacks a closing technique to reinforce the value of moving forward. Overall, the communication is clear and maintains an appropriate tone for the merchant processing industry.