“Selling financial services is not about product benefits; it`s about longterm, mutually beneficial client relationships.”
Selling is not about pushing products any more. Pitches or sales gimmicks do not persuade the contemporary cynical, savvy consumer. In today’s world, successful financial services and product sales professionals must build mutually beneficial relationships with their clients based on trust and respect. Here is the 5 poweful key elements who sells financial products whether you are a weathered sales veteran or a novice who is still finding your way.
Key 1: “Take Control of the Sale”
Do not let a prospect’s fear or assertiveness influence the direction and flow of your selling process. Anticipate the prospect’s preoccupation with receiving a personal payoff. Although your sale will not rest upon the features and benefits of your products, those factors are important. But to close deals, you want to control the prospect’s emotional reactions. Fear is the emotion that most often blocks sales. People are reluctant to commit to a decision because they are afraid to initiate change, give up control or make mistakes.
Key 2: “Focus on Clients, Not Compensation”
A world of difference separates a “client” from a “customer.” A customer is some one who buys a product or service, but who does not represent any potential for developing future sales. A client, however, is someone with whom you build an enduring relationship that generates business. By adding one new client per week to your business, you can create a practice that will flourish over time. Remember, a customer might provide a quick sale, but you can rely on your clients for longterm gain.
Key 3: “Develop a Marketing Rhythm”
Begin by finding a marketing style you are comfortable with that works for your clients. Your method should include a personalized approach for attracting highquality business, performing followup and maintaining your practice. Once you have good systems in place, use them repeatedly, finetuning them now and then to make improvements.
Key 4: “Create Your Compelling Vision”
Identify and clarify your principles, standards and deep beliefs. Then, use these values as a roadmap to guide your professional life. This vision will keep you on track toward fulfilling your personal and business goals. Use this compelling vision as a source of motivation and inspiration that you can draw from every day.
Key 5: “Close More Sales with Scripting”
Scripts help you remain consistent and organize your selling process. Scripts provide you with the “magic words” you need to close. The three elements of scripting are “memorized modules, flexibility and personalization.” Some sales professionals are reluctant to use scripts because they feel they won’t sound spontaneous. But the majority of sales experts agree that scripts are liberating because you don’t have to try out a new pitch with every new prospect.
Key 6: “Energize Your Success”
Selling requires extraordinary amounts of time and energy, so burnout is an occupational hazard. Avoid it by being aware of your energy level and taking action when it becomes depleted. Seek sources of positive energy. Break old
patterns and replace them with positive fresh activities. You might consider a range of new possibilities, from yoga, meditation and fitness training, to classes, singing lessons or just watching the sunset.
Source: Author – James M. Benson and Paul Karasik