A question or concern blocking a customer's decision to buy a product.
What is an objection?
100
The personal value a customer receives from using a product.
What is a benefit?
100
Having a complete understanding of your individual customer's financial needs and wants.
What is Consultative Selling or Selling as a Consultant?
100
Direct approach, Limit the options, Multiple products, and Recommendations.
What are the methods of asking for the sale?
100
The specific characteristics of a product/service.
What is a feature?
200
A lack of product or service that would be providing one or more financial benefits.
What is a financial need?
200
The first thing customers notice about your nonverbal communication.
What is posture?
200
Need for Financing, Need for Income, Need for Safety, & Need for Convenience.
What are the 4 common financial needs?
200
Puts you and your customer at ease and encourages two-way communication and the 1st step in the Sales Encounter Process.
What is "Building Rapport"?
200
Signal the presentation is over, Indicate what the customer should do next, Give an advantage for acting now (if there is one), ask for the sale.
What is the Basic Formula in Asking for the Sale?
300
A sales philosophy that encourages employees to view their job as a one-person business.
What is the entrepreneur approach?
300
The fifth step in the sales process.
What is Handling Objections?
300
Mentally sorting through what customers say and looking for clues that will help you suggest an appropriate product or service.
What is "listening with a purpose"?
300
Expresses in different words what you think the customer has said.
What is a clarifying question?
300
This segement of customer is at the peak of their earning years and may be among the most active investors.
What is Middle-Aged/Dual Income Age group?
400
This selling process is a two-way street, back and forth interaction between you and the customer that can save you time, increase your customer's confidence in you, and build a stronger relationship with the customer.
What is Dialog Selling?
400
Nodding, leaning forward eagerly, or picking up a pen as if ready to sign up.
What are nonverbal clues that a customer is ready to buy/commit?
400
Attending community functions, professional group meetings, and looking in publications for news.
What is Creative Prospecting?
400
A question asked to obtain additional information and encourages customers to elaborate on their financial needs.
What is a probing question?
400
This practice will help you more understand the benefits of your own bank's products & services and also aid in any objections that might occur.
What is Shopping the Competition?
500
The tendency to keep discussing features and benefits after the customer has already decided to buy.
What is overselling?
500
More competition, expanded variety of products and services, and increased automation.
Why is selling important to financial institutions?
500
Emphazises that every employee is responsible for selling. It becomes a part of everyone's job.
What is "Everyone Sells/Everybody's in Sales" approach?
500
The third step in the sales process.
What is Presenting the Product?
500
Reassuring customers that you have a good reason for asking questions about their personal finances?