Life insurance
Sales Assessment Results
46
Needs Improvement
10 questions
Maximum score: 100
Completed in
Let’s get real for a moment. Your average score of 4.6 is a glaring red flag that you need to step up your game. Your strongest sales technique appears to be SPIN Selling, where you occasionally show some promise in exploring implications. But let’s not kid ourselves; there’s a consistent pattern of missing the mark when it comes to addressing objections directly. You’re leaving your prospects hanging, and that’s a surefire way to lose their trust.
You need to dive deeper into understanding customer needs and build your solution-focused approach. Consider immersing yourself in the art of Objection Handling Techniques and Solution Selling. These will give you the tools to directly tackle concerns and craft tailored responses that resonate with your prospects.
Here’s your coaching moment: Remember, selling isn’t just about pushing a product; it's about facilitating a conversation. The more you listen and engage with genuine curiosity, the more likely you are to build those crucial relationships. Don’t let your responses come off as dismissive; instead, make your prospects feel heard and valued. Your success hinges on how you make them feel.
Question Breakdown
1.
3
/ 10Question:
"I need to discuss this with my team before moving forward due to budget constraints."
Answer:
I completely understand. What part of the program do you think they aren’t going to be happy with
Feedback:
The response lacks depth and fails to address the prospect's concern about budget constraints adequately. It does not explore the situation or implications of their decision, nor does it provide a solution-focused approach. Instead of asking about their team's potential objections, the salesperson could have encouraged a collaborative discussion about budget priorities or explored ways to adjust the program to fit within their budget. The tone is somewhat dismissive of the importance of the team discussion, which may alienate the prospect. Overall, more curiosity, active listening, and value exploration are needed to strengthen the response.
2.
6
/ 10Question:
"Our fiscal year ends soon, and we have other priorities to address first."
Answer:
I completely understand. Just to make sure it even makes sense for us to schedule another appointment. What was it that prompted you to look at insurance
Feedback:
The response effectively acknowledges the prospect's concern about timing and priorities. However, it lacks a strong follow-up that could have further explored the prospect's needs and urgency around the insurance decision. Asking about what prompted the interest in insurance is a good start, but it could be framed in a way that aligns with their fiscal priorities and demonstrates how your solution can fit into their timeline. Additionally, incorporating a sense of urgency or a brief value proposition could strengthen the response. Overall, it's a decent approach, but it needs more depth in terms of value exploration and collaborative engagement.
Consider using a technique that emphasizes how your product can address their current priorities and perhaps offer insights that could help them align their insurance needs with their fiscal planning.
3.
7
/ 10Question:
"We have an existing relationship with our current life insurance provider that we don't want to disrupt."
Answer:
I can appreciate it. What was it that got you looking at other providers in the first place
Feedback:
The response acknowledges the prospect's concern, demonstrating active listening and a collaborative approach. However, it could be improved by explicitly recognizing the value of their existing relationship, which would enhance rapport. Asking about what motivated them to consider other providers is a good curiosity-driven question, but it could be supplemented with a follow-up question that explores their satisfaction with their current provider. This would allow for a more solution-focused discussion. Overall, the response is effective but could use more depth.
4.
5
/ 10Question:
"I’m concerned about how implementing this could impact my current workload and responsibilities."
Answer:
Tell me a little more about what you mean
Feedback:
The response demonstrates curiosity and invites the prospect to elaborate on their concern, which is a positive approach. However, it lacks depth and doesn’t directly address the concern about workload impact. A more effective approach would be to acknowledge the concern first, then ask specific questions to understand their current responsibilities and how the proposed solution could alleviate or integrate into their workload. This would show active listening and a solution-focused mindset. Overall, while it's a good start for discovery, it needs improvement in addressing the concern more directly and providing reassurance about the implementation process.
5.
3
/ 10Question:
"Can you explain how this policy aligns with our long-term financial goals?"
Answer:
What would happen financially if something were to happen to you and there was no coverage in place
Feedback:
The response misses the opportunity to directly address the prospect's concern about aligning the policy with their long-term financial goals. Instead of providing clarity or insight into how the life insurance policy can support their financial strategy, it deflects the question and poses a hypothetical scenario. This can come off as evasive and may frustrate the prospect. A more effective approach would have involved exploring their specific financial goals and then illustrating how the policy contributes to those goals, using a solution-focused approach. Asking open-ended questions to understand their financial objectives would have also demonstrated curiosity and active listening. Overall, the response lacks clarity, relevance, and collaboration.
6.
4
/ 10Question:
"The market is uncertain right now, making it hard to commit to new expenditures like this."
Answer:
What kind of financial burden would this place on your family if something were happen to you
Feedback:
The response acknowledges the prospect's concern about uncertainty in the market but doesn't effectively address the objection itself. It could benefit from more empathy and exploration of the prospect's feelings regarding the current market situation. Instead of jumping straight to a question about potential financial burdens, a better approach might be to first validate their concern and then guide them through the implications of not having life insurance during uncertain times. Furthermore, the response lacks a clear closing technique or solution-focused approach, which is critical in the life insurance industry where emotional and financial implications are significant. Overall, it feels a bit abrupt and could create a defensive stance rather than a collaborative discussion.
7.
5
/ 10Question:
"I'm worried about the compliance requirements associated with switching providers."
Answer:
What about compliance bothers you most
Feedback:
The response is a good start in addressing the prospect's concern about compliance but lacks depth and reassurance. It opens up a dialogue, which is great, but it doesn't provide any immediate value or demonstrate understanding of the compliance landscape in life insurance. A more effective response would involve acknowledging the prospect's concern, offering insights on how your company handles compliance, and perhaps sharing a success story or solution that alleviates those worries. Additionally, asking a follow-up question to explore their specific concerns could strengthen the conversation. Overall, the response shows curiosity but misses the mark in addressing the concern comprehensively.
8.
4
/ 10Question:
"Do you offer any guarantees or support for clients post-purchase?"
Answer:
Is support one of the most important factors in helping you make a decision
Feedback:
The response attempts to engage the prospect by asking a clarifying question, which is a good approach to uncovering their priorities. However, it falls short in addressing the specific objection about guarantees or post-purchase support directly. While it's important to ask about the importance of support, it would be even more effective to provide some information about the company's guarantees or the support offered after purchase. This shows understanding and responsiveness to the customer's concern. Overall, the lack of direct information and assurance might leave the prospect feeling uncertain.
To improve, you could acknowledge the concern first, provide details on guarantees and support, and then transition to asking about their priorities.
Score: 4/10
9.
7
/ 10Question:
"We have several ongoing projects that require our immediate attention, making it hard to prioritize this."
Answer:
What would happen to those projects from a financial standpoint if a loss were to occur with no protection in place
Feedback:
The response effectively addresses the objection by prompting the prospect to consider the financial implications of not having protection in place while they are focused on their ongoing projects. This aligns with the SPIN Selling technique, particularly in exploring the implications of their current situation. However, it could be improved by also acknowledging the prospect's busy situation and perhaps asking a follow-up question to further engage them in a dialogue about their current projects and how life insurance might integrate into their planning. Overall, the communication is clear and relevant for the life insurance industry, but it could benefit from a touch of empathy and curiosity.
Score: 7
10.
2
/ 10Question:
"What are the specific features that differentiate your product from our current solution?"
Answer:
What was it that got you looking at new providers in the first place
Feedback:
The response does not effectively address the prospect's request for specific features that differentiate the product, which is crucial in the life insurance industry where trust and product clarity are paramount. Instead of answering the objection directly, the salesperson deflected to a question about the prospect's motivations. While understanding the prospect's needs is important, this response lacks a solution-focused approach and does not acknowledge the concern raised. Additionally, the tone could be perceived as evasive rather than collaborative, which is not ideal in a trust-based industry. A more effective response would have included a brief overview of key differentiators along with an invitation to discuss the prospect's needs further. Overall, there is a missed opportunity for clarity and value exploration.
Score: 2/10 for not addressing the objection directly and lacking clarity.