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Evidence Guide: FNSSAM501 - Apply advanced selling techniques to selling of financial products and services

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

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FNSSAM501 - Apply advanced selling techniques to selling of financial products and services

What evidence can you provide to prove your understanding of each of the following citeria?

Identify products or services that would benefit from focused sales approach

  1. Identify appropriate products and services on basis of client needs, particularly where needs are not adequately met by current approaches
  2. Generate and discuss ideas for special approach to selling these products and services and satisfying client needs with colleagues and selected clients
  3. Carry out checks to identify if sales enquiries are within staff personal authorities and where not, refer to appropriate personnel
Identify appropriate products and services on basis of client needs, particularly where needs are not adequately met by current approaches

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Generate and discuss ideas for special approach to selling these products and services and satisfying client needs with colleagues and selected clients

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Carry out checks to identify if sales enquiries are within staff personal authorities and where not, refer to appropriate personnel

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop approach to selling product or service

  1. Discuss, develop and revise possible product or service selling approaches with others and select most useful approach for trial
  2. Undertake checks to see that selling approach complies with organisational policy and procedures, and relevant legislation
  3. Develop selling script and train salespeople in approach for intended market segment
Discuss, develop and revise possible product or service selling approaches with others and select most useful approach for trial

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Undertake checks to see that selling approach complies with organisational policy and procedures, and relevant legislation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop selling script and train salespeople in approach for intended market segment

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Pilot approach

  1. Trial and review selling approach based on results of pilot
  2. Document and present approach to appropriate personnel for approval
Trial and review selling approach based on results of pilot

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document and present approach to appropriate personnel for approval

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate approach

  1. Develop criteria for evaluation of selling approach
  2. Collect sales and other relevant data and evaluate plan on basis of data
  3. Document results and use to determine future sales strategies
Develop criteria for evaluation of selling approach

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Collect sales and other relevant data and evaluate plan on basis of data

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document results and use to determine future sales strategies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

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

1.1 Identify appropriate products and services on basis of client needs, particularly where needs are not adequately met by current approaches

1.2 Generate and discuss ideas for special approach to selling these products and services and satisfying client needs with colleagues and selected clients

1.3 Carry out checks to identify if sales enquiries are within staff personal authorities and where not, refer to appropriate personnel

2. Develop approach to selling product or service

2.1 Discuss, develop and revise possible product or service selling approaches with others and select most useful approach for trial

2.2 Undertake checks to see that selling approach complies with organisational policy and procedures, and relevant legislation

2.3 Develop selling script and train salespeople in approach for intended market segment

3. Pilot approach

3.1 Trial and review selling approach based on results of pilot

3.2 Document and present approach to appropriate personnel for approval

4. Evaluate approach

4.1 Develop criteria for evaluation of selling approach

4.2 Collect sales and other relevant data and evaluate plan on basis of data

4.3 Document results and use to determine future sales strategies

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

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

1.1 Identify appropriate products and services on basis of client needs, particularly where needs are not adequately met by current approaches

1.2 Generate and discuss ideas for special approach to selling these products and services and satisfying client needs with colleagues and selected clients

1.3 Carry out checks to identify if sales enquiries are within staff personal authorities and where not, refer to appropriate personnel

2. Develop approach to selling product or service

2.1 Discuss, develop and revise possible product or service selling approaches with others and select most useful approach for trial

2.2 Undertake checks to see that selling approach complies with organisational policy and procedures, and relevant legislation

2.3 Develop selling script and train salespeople in approach for intended market segment

3. Pilot approach

3.1 Trial and review selling approach based on results of pilot

3.2 Document and present approach to appropriate personnel for approval

4. Evaluate approach

4.1 Develop criteria for evaluation of selling approach

4.2 Collect sales and other relevant data and evaluate plan on basis of data

4.3 Document results and use to determine future sales strategies

Evidence of the ability to:

develop an effective approach to selling financial services products and services

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

complete relevant documentation according to organisational policy and procedures.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

analyse and discuss the key features of a range of advanced selling techniques and successful selling approaches

outline the strengths and weaknesses of financial product or service evaluation techniques

evaluate techniques for generating new and innovative ideas

outline approaches to effectively training salespeople.