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If your solutions are becoming commoditized, then your sales process (not your solutions) need to change to be seen as a “category of one.”
Most advisors are educating their prospects and doing free consulting, fuelling the commoditization of the profession.
Ideally, you want your prospect to choose you at the end of the first meeting, without saying: “I’d like to think about it.”
You know you’re a highly competent advisor, but you may be feeling indistinguishable from other advisors, and your prospects “shopping” you is a trend that is only increasing.
How do you buck this trend? Shift your mindset
Advisors typically focus on their solutions and expertise, as they have been conditioned to prove their value, by demonstrating it in their sales process.
This approach only mimics what other advisors are doing, causing prospects to continue interviewing other advisors to find someone they can trust – because all the advisors they meet with appear similar in their value propositions.
Here’s the irony. Your prospects are not qualified to judge and assess your expertise in one meeting, or even in multiple meetings, pre-sale.
Yet, there is this game of “let me prove and show you what I can do for you” merry-go-around that ends up in having to chase them for a “next step.”
Here’s the shift to help you break this cycle:
Your prospect isn’t looking for the solution to their problem. They’re looking for someone they can trust to solve their problem for them.
That’s a subtle difference but its impact is significant.
It means your solution, knowledge and competence isn’t what they need to trust you; they assume you are competent, otherwise they wouldn’t be meeting with you.
A solution-based approach cannot build trust nor shift your prospect out of their indecisiveness, because knowledge, competence, and solutions themselves have become ubiquitous.
The only way to shift your prospect out of indecisiveness is through a problem-centric model (not a solution-based process) that brings their issues into focus and makes the idea of solving it an urgent priority.
They won’t trust you if they feel unclear about their own situation, as they’ll be unsure about whether you want to genuinely help them or just win them as a new client.
This is how you differentiate (and with no free consulting involved).
Your prospect doesn’t care about how you solve their problem, they only care about if you are the one to solve their problem, and your value isn’t the deciding factor. If you struggle to understand this, you’ll always be compared to the next advisor.
To learn how to shift your mindset to a category-of-one trust-based sales approach, 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.
