FOR PERSONAL BANKERS

ARTICLE

FOR PERSONAL BANKERS

Using Probing Questions

to Uncover Needs

Customers will come to you with different needs and problems. To help your customers, you will need to uncover their individual situations. By asking the right probing questions,

you can determine exactly what it is your customers want or need. By listening carefully to what they say and observing their actions and reactions, you can make suggestions to help them meet those needs.

Probing questions are a valuable tool in gathering information. Each customer has a wide range of financial needs, however the customer may not define them adequately. That is why asking the right question is an important sales skill. The purpose of questioning is to get the customer to state their financial requirements/needs. Only after you thoroughly understand the customer's situation can you present the products/services that will best meet those needs.

CSP TIP

Incorporate the customer's name into your questions. The personalization of your conversation will help overcome resistance to answering your questions.

Example: "Mr. Customer, to better understand your needs, may I ask you a few questions?"

This will also be an easy way for you to maximize your evaluation scores!

How and when you ask questions is as important as what you ask. Before you begin the probing process, always ask for the customer's permission. By requesting permission and providing a brief explanation of why you will be asking these questions, you will keep the customer from becoming defensive and resistant to answering your questions because s/he will understand that you are only trying to gain information to better understand her/his needs. (Example: "May I ask you a few questions so I can determine which one of our accounts will be best for you?""To save you time, I need to ask you a few questions. Would that be okay, Mr. Customer?").

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FOR PERSONAL BANKERS

Using Probing Questions

to Uncover Needs - continued

When asking questions, follow this three-step process:

Start with general questions to establish rapport - "How did you hear about our Bank?" "What is the main reason you are interested in opening a new checking account?" "Is this the primary checking account for you and your wife?"

Move on to detailed questions - "Tell me about features that are especially important to you?" "About how many checks do you write each month?" "You said convenience is important, correct?" "Have you ever tried on-line bill paying?"

Finish with questions that are more sensitive in nature - "Is your payroll check set up for direct deposit?" "If I understand you correctly, the reason you are looking for a new account is that you are tired of paying the service fees at the bank where you currently have your account ? is that right?" "Is there anything else that you dislike about your current account?"

There are two basic types of probing questions:

OPEN-ENDED QUESTIONS: Require more of an answer than "yes" or "no". Open-ended probing questions often start with who, what, where, how, why, tell me, explain or describe. The answers to this type of question provide a lot of information and important clues about what the customer needs, wants or knows about your products/

services. Open-ended questions should be the primary type of question used to gather

information because they get the customer talking. The more you encourage your cus-

tomer to talk, the more you learn. (Example: "Tell me more about what's impor-

tant to you in a checking account.") After you've gathered the initial information

with open-ended questions, use closed-ended questions to fill in the missing

pieces.

CLOSED-ENDED QUESTIONS: Can be answered with a simple "yes", "no" or one word response. Frequently they begin with would, can, are you, which,

will, do, is, has, does, and when. Closed-ended probing questions limit

discussion. They should be used to confirm facts and obtain details or

specific information from customers. (Example: "Do you want a checking

account that pays interest?")

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FOR PERSONAL BANKERS Using Probing Questions to Uncover Needs - continued

Since open-ended questions provide more comprehensive information, use the following substitutions to change a closed-ended question to an open-ended one:

Replace

WITH

Did you................................................................ When will you Have you..................................................................What have you Is there...................................................................What is there Do you..........................................................................How do you Will you........................................................Tell me how you will Can you....................................................Describe how you can

Was it...............................................................Explain what it was

SUGGESTION:

Using an effective mix of open and closed-ended probing questions gives you the input you need to respond knowledgably to your customer. To increase the amount of information you obtain from your customers, use more open-ended questions. Start your information gathering with open-ended questions. Use closed-ended questions to provide specific details during the conversation.

When gathering information, be sure you ask questions that address both the customer's PERSONAL and FINANCIAL needs. Including a mix of personal and financial questions is essential to having a clear understanding of the customer's situation. (Note: These questions are primarily used by Bankers.)

PERSONAL QUESTIONS are related to lifestyle/home life issues. Examples: "Mrs. Customer, are you going to purchase a house or will you be renting?" "Where do you live? Work?" "Mr. Customer, how soon will you begin your remodeling project?" "Will you be doing the work yourself or have you hired a contractor?"

FINANCIAL QUESTIONS are related to the customer's account relationships and/or specific product needs, etc. Examples: "Mr. Customer, what kind of accounts do you currently have?" "What are your account balances?" "Mr. Customer, what do you like about your current financial services provider? Dislike?" "Would you need immediate access to your money or could you invest your funds in a longer-term investment?"

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