Industry: Life Insurance
Background of client: A Fortune 500 insurance company in Hong Kong
Business unit(s) involved: Sales Team
Business Challenges:
As it is difficult to initiate sales meetings with prospective customers in the cold-call market and the sales cycle is quite long, most financial planners are too eager to close deals at the end of the first face-to-face meeting, even when it is very early in the selling process and there is insufficient mutual trust. This leads to lower closing rates and creates a defensive relationship between the two parties.
Furthermore, the traditional sales management system provides only analytical figures to measure closed deals and cannot provide any figures or data on the effectiveness of a salesperson at each step of the sales process. Traditionally, to collect information about sales progress, sales managers can directly ask salespersons. However, this information may be subjective and unqualifiable. This makes it difficult for sales managers to monitor and help their salespersons in the right ways and at the right time. In this situation, closing rates are quite low.
Methods Involved: Design Thinking, CEN/TS 16555 and 5i Customer Management Method
Type of Transformation: Customer Experience Transformation

Project Objective(s):
Enhancing closing amounts and rates through transforming financial planners into influencers of wealth management.
Duration of Project: 6 months
KPIs of Project:
  • Revenue
  • Closing rate in first face-to-face meeting
Our Deliverable:
  • Developed an analytical report that identified the major touch points and moments for most effective trust-building between financial planners and prospective clients on social media platforms
  • Built an electronic platform for quantifying trust level and ranking customers according to their trust level and closing rate in the prospective customer pool of every salesperson.
  • Provided a message posting management mechanism to help financial planners become key opinion leaders (KOL) in specific areas on social media platforms
  • Designed a trust-based selling procedure with detailed scripts from “lead generation on social media platforms” to “face-to-face closing techniques in the first meeting”
Client’s Tangible Results:
  • The rate of achieved Million Dollar Round Table (MDRT) standard improved by double digits
  • The rate of closing in the first face-to-face meeting improved by triple digits