This may be applied in a call centre, face-to-face or on the basis of written documentation in any financial services industry sector.

ELEMENT

PERFORMANCE CRITERIA

1. Identify products or services that would benefit from a focused sales approach

1.1. Appropriate products and services are identified on the basis of customer needs, particularly where the needs are not adequately met by current approaches

1.2. Ideas for a special approach to selling these products and services and satisfying customer needs are generated and discussed with colleagues and selected customers

1.3. Checks are carried out to identify if sales enquiries are within staff personal authorities and, where not, referred to appropriate personnel

2. Develop approach to selling the product or service

2.1. Possible product or service selling approaches are selected discussed with others, developed and revised with the most useful approach selected for a trial

2.2. Checks are undertaken to see that the selling approach complies with organisation policy and procedures and relevant legislation

2.3. Selling script is developed and salespeople trained in the approach for the intended market segment

3. Pilot the approach

3.1. Selling approach is trialled and reviewed based on results of the pilot

3.2. The approach is documented and presented to appropriate personnel for approval

4. Evaluate approach

4.1. Criteria for evaluation of the selling approach are developed

4.2. Sales and other relevant data are collected and plan is evaluated on the basis of data

4.3. Results are documented and used to determine future sales strategies

Required skills

highly developed communication skills to:

determine and confirm indentified market sector product and services needs, using questioning and active listening as required

ensure sales personnel understand the developed sales approach

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

highly developed selling skills

IT skills for:

accessing and using appropriate software such as spreadsheets and databases and using internet information

assisting in the management of information and the planning process

well-developed literacy skills to:

analysing information and products to ensure appropriateness to customer needs, currency and accuracy

document selling approaches

interpersonal skills to lead and liaise with sales team members

organisational skills, including the ability to plan and sequence work

Required knowledge

advanced selling techniques and successful selling approaches

product/service evaluation techniques

techniques for generating new and innovative ideas

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to:

develop an effective approach to selling financial services products and services

apply high level analysis skills to identify appropriate products and services, develop new selling ideas, pilot them and evaluate their success.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to financial services product information

access to workplace policies, procedures and information system.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

observing processes and procedures in workplaces or role plays

verbal or written questioning on underpinning knowledge and skills

setting and reviewing workplace projects and business simulations or scenarios

accessing and validating third party reports.

Guidance information for assessment

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Ideas may be generated by:

brainstorming sessions

customers

staff and managers

think tanks

workshops based on creative processes.

Organisational policy and procedures and relevant legislation may include:

anti-discrimination legislation

Australian Prudential Regulation Authority (APRA)

business names legislation

Consumer Credit Code

Corporations Act (including Accounting Standards)

Electronic Funds Transfer (EFT) Code of Conduct

Finance Code

Financial Services Reform Act (FSRA)

Financial Transaction Reports Act

industry codes of practice

organisational policies, procedures and code of ethics

Privacy Act

taxation law.

Selling script may include:

answers to frequently asked questions

introductory techniques

planned approaches

strategies for handling negative comments.

Unit sector

Sales and marketing

This unit contains employability skills.