Prospecting Methods and Credit Guide for Finance and Mortgage Broking | FNSSAM403

FNSSAM403 Prospect for new clients
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Student details
Course name FNS40815 Certificate IV in Finance and Mortgage Broking
Assessment name FNSSAM403 Assessment
Surname SINGH Given name GAGAN
Address Postcode
Email [e-mail]
Phone [phone] Phone (other)
Current occupation Finance & Insurance Manger
Industry Automotive Years in industry 3
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Checklist of attachments:
Task 1 – Short Answer
Task 2 – Written Test
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FNSSAM403 Prospect for new clients
FNSSAM403 FMB Assessment
CREDIT TRANSFER
You may be able to claim credit transfer for a unit/s of competency that you have previously
completed with AAMC Training or another RTO. If you have been awarded a record of result or
statement of attainment for any of the units detailed below then please go to the Credit
Transfer tab in your Learning Centre and follow the prompts.
This assessment relates to the following units of competency:
 FNSSAM403 – Identify opportunities for cross-selling products and services
Please refer to AAMC Training’s full Recognition Policy for further details.
Task 1 – Short Answer
In order to successfully complete some of the tasks in this assessment you should have access to
the following documents. These are available in the AAMC Training Useful Resources or you may
wish to find your own/use your company documents.
 Credit Guide – important facts about the business and products you provide
 Adviser Profile – this may be included in your credit guide and could be simply your licence
number as the services you provide are one in the same as your licensee
 Client Needs Review – for client data gathering
 Preliminary Assessment
Questions
1. What do you believe to be three good prospecting methods and why?
1 Asking for referrals This one of the most treaditional tactis to use
refrals from the customer or client parties.
Asking for referrals is the qualified process to get
qualified leads. A lead is that whenever a
customer is satisfied with the customer service
they refers the same product or service to the
other clients. Further, as per the reports this is
the most usefull method to gain communication
and connection to more customers, and it also
strengthen the relationship of the customers.
2 Reference selling A reference selling is selling the products or
services to the refered customer. This means
that the selling procedure is organised on
referral of someone to consume tat perticural
product or service. In the proscpecting methods
there are two specified challenges that are faced
by the sales persons, the challenges are 1.
Getting through the ultimate decicon makers
and 2. establishing the trust and credibility with
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buyers. Refrence selolung is the process trhat
overcome the challenges. If the conceren having
a customer who is satisfied with the service that
is rendered to them are alegdly making other
probable customers to avail the same goods and
services.
3 Cold calling Cold calling is prospecting game plan that is
asking fro referalss as well as utilising tne
referals of salling principal activities. The
acceptance of the cold calling is because of its
most validating in lead generation method in
sales.
2. In your own opinion, what are some areas, which are important to say about yourself and your
business when creating a Facebook or LinkedIn profile? Why would correct and professional
information be important to your organisation?
Answer:
I personllay belive that for creating a profile in facebook and linkedin it must convey aproper
image what actualy I am not what others thinks anout me. In addition the effect of such
images will be resulatant on the subject that are under stated below.
In marketing and promotion, the business houses and the marketing agencics are following
the trends. It is the basic marketing principal that the business needs marketing where the
huge number of people are engaged. In addition to that the business needs to access the
traffic.social meadia technologies has changed the market enourmously. There for creating a
good and accessable image the companies and the business organisations are creating the
profiles in Facebook and Linkedin. The profiles are the artificial image of the organisatins from
where the various sources and the product of the company that they are offring to the public
is gathered. In addition to that the profile will contain an instant support service to the visitors
to make them feel comfortable and making a good image to the socity. Further, the company
needs to provide all adequate information regarding the products and the organisational
activities.
What ever is available in the internet it not fully correct, rather it is pertialy correct. but the
users of it takes all the information as correct. Therefore, the organisation needs to ensure
that what they are conveying or providing must be correct. Beside that, the information should
have sources. A solid and relevant data will provide the users as it will be contributory in the
goodwill unless it will ruin the confidence of the users regarding the image of the organisation.
3. What is cold calling? Is cold calling an effective prospecting method? Explain your answer.
Answer:
Cold calling is prospecting game plan that is asking fro referalss as well as utilising tne referals
of salling principal activities. The acceptance of the cold calling is because of its most
validating in lead generation method in sales.
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FNSSAM403 Prospect for new clients
The reason for effective prospecting method as this process generates enumerable customer
support and sales. In the telephonic connection the relationship with the new customers are
established and the companies are earning huge revenues from that. In the cold calling
process the sales person and the marketing executives approaches the potential customer
over the telephonioc conversasion. In addition to that the companies are nitifing the customer
the featears and the qualities of the product and the services thata they are offiring to the
customers.
This process elaborated the needs of the customers and the probabilities of the sales.
Further, the customers are largely developing the trustship of the brand and the product. This
helps in recognising the revenues of the firm.
4. How would you build a relationship with a client through cold calling?
Answer:
In the cold calling technic, that I will sell the the products by calling random customers to
there phone numbers and elaborating the services thet they render to its clients. In addition to
that the companies are getting more involved with the touch of soul of the potential
customers and understanding the needs of the customers and providing the goods and
services according to the needs of the customers in the best possible way. It is the objective of
my work to condem the threats of the customer and providing effecent service.
5. In your opinion, why would the following areas of information (found in the Credit Guide) be
important for a new client to understand? How could this information protect all parties?
 your role and responsibility as Credit Advisor
 the role of the organisation
 the identity of and information about the Credit Licence holder
 the range of services provided
 all costs, fees, commissions etc. associated with the transaction
 the procedures for handling complaints and disputes.
Answer:
In the business process a large amount of the sales are done on due basis. This means that
the customers are selling the goods to the customer on credit and reliasing them on a later
date. In some cases the debtors of the company is failed to provide the due amont or having
negligence to pay the sum. In that case the company adjoint Credit Guide in the system who
will help in reliasing the monet from the defaulter. In that case the company needs an expert
credit guide.
 Role and responcibilites of the credit advior.
The roll of the credit advisor is to collect the dues thast the compaies ows from the debotors,
who are neglecting the paymants towords the organisation. The responcibilities credit guide is
to collect the dues from the credit customers. In addition to that the credit guide is required to
make arrengments of the financial side of the company to ensure thet the accounts are upto
date. This will help the client to understand the duties of the credit advisor.
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