Personal investments mutual funds, financial planning and annuities
Sales Assessment Results
61
Developing Closer
10 questions
Maximum score: 100
Completed in
Let's get real here: your average score of 6.1 is a wake-up call. You’ve got some solid moments, especially with acknowledging customer concerns, but you consistently fall short on diving deeper into their specific needs and crafting compelling closings. Your strongest techniques seem to emerge when you actively listen and acknowledge the prospect’s issues, which is crucial. However, there’s a pattern of vagueness in your solutions and a tendency to miss the mark on urgency when moving towards a commitment.
To elevate your game, I suggest diving into Solution Selling and the AIDA Model. You need to sharpen your skills in tailoring solutions that resonate with the prospect’s unique situation and guiding them through the decision-making process with clarity and urgency.
Remember, the key takeaway here is that curiosity is your best friend in sales. Don’t just nod along—ask the tough questions that peel back the layers of your prospect’s financial concerns. Make that connection personal and specific. This is how you can truly transform your sales conversations from average to exceptional.
Question Breakdown
1.
4
/ 10Question:
"I'm concerned about how this investment aligns with our current budget constraints and fiscal year planning."
Answer:
I see. I am so glad we are able to have this meeting. You might recall your best friend referred me and my firm to you. We definitely want to work within your budget. I believe you will see this case study in automotive parts where my company helped improve budget. In fact our positive cash flow investment increased this clients bottom line. I would assert we can do the same for your firm as well. Tell me your goals?
Feedback:
The response does acknowledge the concern about budget constraints, but it lacks a detailed exploration of how the investment specifically aligns with the prospect's current financial situation. While mentioning a referral adds a personal touch, the case study example provided feels somewhat generic and doesn't directly address the prospect's fiscal year planning. Instead of jumping straight to goals without clarifying the budget, it would be more effective to ask open-ended questions to better understand their current budget situation and fiscal constraints. This would demonstrate active listening and curiosity. Overall, the closing opportunity is weak, as the focus should be on establishing a clearer connection between the proposed investment and the client's specific needs, rather than assuming a positive outcome based on a previous case study.
Score: 4
2.
6
/ 10Question:
"Given our past experience with similar financial products, how can I be sure this will provide a better return?"
Answer:
That is a fair question. I know you want to see a value when you hire us. You mentioned your current investment firm has consistently missed their benchmarks. I am providing with a white paper that clearly demonstrates that we beat our benchmarks. I can't guarantee we will continue, but I can guarantee we will always act in your best interest. Wouldn't you like to give us a try?
Feedback:
The response effectively acknowledges the concern raised by the prospect and establishes a sense of understanding by referencing their past experiences with other firms. However, it could benefit from a stronger emphasis on the specific advantages of the proposed financial products compared to the competitor. The mention of the white paper is a good move, as it provides tangible evidence, but it would be more effective if it was accompanied by a brief summary of key findings that support the claim. The closing question ('Wouldn't you like to give us a try?') is a decent attempt to move towards a commitment, but it lacks urgency and could be improved by framing it around the potential benefits of acting sooner rather than later. Overall, the tone is appropriate, but the response could have included more curiosity-driven questions to further engage the prospect in a dialogue about their concerns and needs.
3.
6
/ 10Question:
"We have an ongoing project that takes precedence; can you assure me this won't require significant resources right now?"
Answer:
I appreciate you have a current project that take precedence of your current resources. Our solutions our hands off for you. We will literally do all the work. You had mentioned concerns and pitfalls before if you didn't hire us. We are starting to book a lot of engagements right now. My suggestion would be to get us on your calendar ASAP so you can avoid these pitfalls.
Feedback:
The response acknowledges the prospect's ongoing project, which is good for active listening, but it could have been more effective by explicitly addressing the concern about resource requirements. While stating that the solutions are hands-off is a positive aspect, the phrasing is a bit vague and lacks clarity on how much time or effort is truly required from the prospect's side. The mention of previous concerns is a nice touch, but it could have been stronger by explicitly tying those concerns back to the current objection, reinforcing the value of acting quickly. The call to action is present, but it could have been more compelling or urgent. Overall, the tone is appropriate, but the communication could be clearer and more solution-focused.
Score: 6
4.
7
/ 10Question:
"How do you handle post-purchase support, especially if we encounter challenges down the line?"
Answer:
This is a common question and I understand you want to be taken care of after the sale. We have been in business 20 years and have grown out business every years. The reason is because we give amazing customer service after the sell. You will have a team of 4 assigned to you. We will reach out quarterly to you, but also you will have access to out online calendar. You are welcome to call or set an appointment any day of the week. Do we sound like a firm focused on you?
Feedback:
The response effectively acknowledges the prospect's concern about post-purchase support, which is crucial in the financial services industry. However, it could have benefited from more specificity regarding what kind of support will be provided and how it can address potential challenges. While mentioning a dedicated team and quarterly check-ins is good, it lacks a deeper exploration of the specific challenges the client might face and how the support system addresses those. The closing question is a nice touch, inviting engagement, but it could be more open-ended to encourage further discussion. Additionally, there are some minor grammatical errors (e.g., 'out business' should be 'our business' and 'out online calendar' should be 'our online calendar'). Overall, the response shows a collaborative approach but misses a bit on the solution-focused aspect and curiosity about the client's specific needs.
Score: 7
5.
7
/ 10Question:
"There are a few stakeholders who haven't been on board with investment changes; how can we get their buy-in?"
Answer:
I understand and we want those stakeholders to give us buy in. Let's setup a meeting with just those stakeholders. Please have them provide exactly what their concerns are ahead of the meeting. My team will review those concerns and we will present answers and solutions to those concerns at that meeting. How does that sound to you?
Feedback:
The response effectively acknowledges the concern about stakeholders' buy-in and proposes a collaborative solution by suggesting a meeting. However, it could benefit from a slightly more engaging tone to build rapport and trust. Additionally, it would be helpful to ask open-ended questions to better understand the specific concerns of the stakeholders, showing curiosity and active listening. Instead of just asking for their concerns, you could inquire about the reasons behind their hesitance and how you can help address those specific issues. Overall, the approach is solution-focused and demonstrates a willingness to engage, but could enhance the discovery aspect.
Score: 7
6.
6
/ 10Question:
"With the current economic climate, what strategies do you have to ensure long-term value?"
Answer:
I understand the question. You see as we do the current economic climate could upset your financial plan. There are significant headwins. Interest rates are high, unemployment continues to climb and consumer confidence in declining. However, markets can surprise us to the upside and you had mentioned not wanting to miss out. We want you to receive value regardless of the economic climate. Our solution that gives you a loss floor and a decent upside ceiling is a perfect fit. It will allow you to experience a decent upside if the markets perform, but will protect your wealth if it doesn't. Here is a white paper that describes this in detail. As I describe this tell me how soon would you like to get started? Do you feel like this meets your needs?
Feedback:
The response effectively acknowledges the prospect's concern about the economic climate and introduces a solution that addresses the need for both protection and potential upside. However, the tone can come off as slightly dismissive of the gravity of the economic situation. There could be more curiosity and exploration of the prospect's specific concerns or needs regarding their financial plan. Asking open-ended questions to gain deeper insights would enhance the consultative approach. The closing question is somewhat assumptive and could benefit from a more collaborative tone, inviting more discussion before pushing for a commitment. Overall, the response shows good understanding of the product but lacks some depth in engagement and exploration of the prospect's situation.
Score: 6
7.
6
/ 10Question:
"I'm worried about my career risk if this investment doesn't perform as expected; how do you mitigate that?"
Answer:
Well career risk is definitely a consideration. I really want to explore specifically what career risk you are concerned about. Can you tell me what that is? Also, I would like to assure you in the 20 years I have had the firm the investment has not introduced a career risk to my clients. As, you can see from our white paper our investment has performed very well historically. Are these returns in line with your goals?
Feedback:
The salesperson did a decent job addressing the concern by acknowledging the career risk and asking for clarification on the specific worries of the prospect. However, the response could have been more robust by integrating a solution-focused approach and providing a clearer assurance on risk mitigation strategies. While referencing the firm's historical performance is a good start, it lacks a more personalized risk management strategy tailored to the prospect's situation. Additionally, the inquiry about the returns aligning with the prospect's goals is a positive move towards value exploration, but there could be more emphasis on collaborative engagement to build rapport. Overall, the communication was clear but could benefit from a more proactive and consultative approach.
Score: 6/10.
8.
7
/ 10Question:
"We've had issues with integration in the past; how does your product address technical compatibility?"
Answer:
This is a good question and I want to make sure we address your concerns. First, we will perform a diagnostic free of charge so we know exactly the systems you have in place. Next, my engineer will review that diagnostic with respect to the compatability with our solutions. Once we have this complete we will present you team with our compatability findings. If we meet your expectations when would you like to begin?
Feedback:
The response effectively acknowledges the objection regarding technical compatibility and outlines a clear, solution-focused approach by proposing a diagnostic assessment. However, it could benefit from a bit more detail on how the solution will be tailored based on the findings, which would further address the prospect's concerns. The closing question is direct and attempts to move the conversation forward, which is good. Nonetheless, it could also include a question that invites more dialogue, such as, "What specific systems have you struggled with in the past?" This would demonstrate curiosity and active listening. Overall, the tone is appropriate for the financial industry, but adding a bit more collaborative engagement could strengthen the rapport.
Score: 7/10
9.
6
/ 10Question:
"There are alternatives in the market that seem appealing; what differentiates your offering from those?"
Answer:
You are correct and there are many alternatives in the market. You however mentioned specific tax needs. In fact you best friend who is also a doctor referred me to you because of your tax needs. We have worked with your friend for years and each year he tells us his CPA can tell we are doing a good job. We will do that same job for you. We will look at your individual positions. We will review your current tax levels. We will then present a customized solution based specifically on you and your goals. Our goal would be that your CPA praises our work just like your friends. Do we sound different from other alternatives now to you?
Feedback:
The response does a decent job of acknowledging the competitor's presence while pivoting to a personalized solution. However, it lacks a clear differentiation of the offering compared to alternatives in the market. Instead of just referencing the friend's CPA, it would be more effective to highlight specific features, benefits, or unique selling points that set your services apart (like unique tax strategies or proven success stories). Additionally, the closing question is somewhat leading and doesn't invite an open discussion; a more consultative approach could enhance engagement. Overall, it shows some potential but could improve clarity and depth.
Score: 6
10.
6
/ 10Question:
"Can you provide evidence of how your solution has successfully scaled for similar organizations?"
Answer:
This is an excellent question. Tell me why scalability is important to you? We want you to be happy so we have a specific process to make sure we can scale for you. Here are 3 firms in your industry where we have implemented and successfully scaled. Our process for you would be three fold. Survey your current requirements, test specific solutions for those requirements to make sure we can scale for you. Lastly, present you back our findings to make sure you are comfortable with how our systems would work for you. Does this make you more comfortable working with my firm?
Feedback:
The response effectively addresses the objection by first engaging the prospect with a question about their specific concerns regarding scalability. This demonstrates curiosity and a willingness to understand their perspective. However, the response could be enhanced by providing more concrete evidence or examples of successful scaling rather than just mentioning the firms. While the outline of the process shows a solution-focused approach, it lacks a clear closing technique to guide the prospect toward the next step. Overall, the tone is appropriate for the financial services industry, but more emphasis on value exploration and active listening could strengthen the response.