11 Questions
What is the primary focus of the COI slide?
To showcase the potential costs and consequences of inaction
Why is it important to confirm the prospect's expectations during the sales call?
To align goals and ensure both parties are ready to discuss potential solutions
What is the purpose of silently reinforcing the COI after presenting the slide?
To give the prospect time to contemplate the potential losses and reinforce the severity of the situation
Why is it crucial to connect on a personal level with the prospect after presenting the COI slide?
To build trust and reassure them that there is a solution
What is the significance of presenting the most expensive plan first when offering plan options?
Allows the prospect to see the different potential solutions and consider their financial range
True or false: The COI represents the return on investment, while the ROI denotes the cost of inaction.
False
True or false: People are three times more averse to gain than to loss.
False
True or false: The COI slide should showcase qualitative and complex information to emphasize the gravity of the problem.
False
What are the key steps in the framework for effectively presenting the COI to a customer?
The key steps in the framework for effectively presenting the COI to a customer include setting the agenda, confirming expectations, confirming the prospect's current status quo, presenting the COI slide, silently reinforcing the COI, connecting on a personal level, confirming the buying process, presenting plan options, addressing objections, and reinforcing the COI.
Why is it important to differentiate between objections and conditions when addressing the prospect's concerns about pricing?
It is important to differentiate between objections and conditions when addressing the prospect's concerns about pricing because it allows the salesperson to understand the nature of the concern and work towards finding a mutually satisfactory solution. Objections are reasons the prospect may not want to buy, while conditions are terms the prospect may need addressed before making a decision.
How can the COI slide help in illustrating the potential costs and consequences of inaction to prospects?
The COI slide can help in illustrating the potential costs and consequences of inaction to prospects by clearly showcasing the quantitative potential costs and consequences of not taking action, allowing the prospect to understand the gravity of the problem and contemplate the potential losses.
Master the art of presenting prices with the COI slide technique. Learn to effectively communicate the cost of inaction to prospects and understand the difference between COI and ROI. This quiz is essential for sales professionals looking to enhance their pricing presentation skills and close deals successfully.
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