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What would it take for your qualified prospects to feel so confident after an initial meeting with you that they felt it wasn’t necessary to see any other advisors and they were ready to hire you on the spot?
Is that scenario even possible? This idea may fly in the face of everything you’ve been taught by your mentors over the years.
The “normal,” acceptable sales approach is to lengthen the process over multiple steps.
The discovery meeting, the planning meeting, and all other in-between meetings are designed to widen the sales window – because the belief is that the more your prospect can experience you as their advisor pre-sale, the easier it’ll be for them to become your client at the end of your process.
But is this belief based in truth?
Is this value-based, “try you and then they’ll buy you” approach really a consistent and reliable method for converting qualified prospects into paying clients in a commoditized market?
It no longer is.
Most advisors convert fewer that three out of 10 prospects.
They find themselves having to retool their sales process around new products and services, and new sales tactics, over and over, in the hope of being able to communicate their value more convincingly.
Unfortunately, due to these prevailing beliefs to selling, value itself has been commoditized to the extent that being a competent and experienced advisor is no longer a competitive advantage.
Here’s an idea that is based in truth and that will help you counter this:
The sale is lost at the beginning of your process, not the end.
For your prospect to feel confident they don’t need to “shop” other advisors after meeting you, they need to form the impression that you’re not like other advisors.
You’re different.
You’re trusted.
In other words, your differentiation would need to be evident throughout your sales process, based not on your technical competence, but on your ability to understand them at a deep level.
Most conventional advisors are solution-driven and focused on proving their value from the beginning of their sales process.
To differentiate, you need to be problem-centric and focus only on understanding your prospect’s deepest issues.
Your only objective should be to diagnose their problems, to see if they’re ready to own them and willing to trust you as the one to solve them.
That’s it.
It’s a simple approach based around transparency and trust, and most importantly, it will differentiate you from 99% of your peers.
Without fully mastering this approach, you’re bound to hear this often:
Your approach and information is interesting and I’ll hear you out to the end to make sure I haven’t missed anything, but then I’d like to think it over.
To learn how to master and systematize this trust-based approach to differentiation, order your complimentary book and consultation below.
Ari Galper is the world’s number one authority on trust-based selling and is the most sought-after high-net worth/lead generation expert for financial advisors. His newest book, “Trusted Authority” has become an instant best-seller among financial advisors worldwide – you can get a Free copy of Ari’s book here and, when you click the “YES” button in the order form, you’ll also receive a complimentary “plug up the holes” lead generation consultation. Ari has been featured in CEO Magazine, Forbes, INC Magazine and the Australian Financial Review. He is considered a contrarian in the financial services industry and in his book, everything you learned about selling will be turned upside down. No more chasing, no pressure, no closing.
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Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
