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There's no need to reinvent the wheel. Plenty of sales strategies have withstood the test of time. Technology may intervene as everyone looks for the silver bullet, the technique that always works. But the Golden Oldies were golden for a reason.
Feel, felt, found
We often talk about overcoming objections. That implies sales is a battle, culminating in a victor and a loser. In reality, we want a long-term relationship. We are trying to help the prospect choose the solution as best suited to their situation as we can find.
Sometimes prospects object, not because they don't like something, but because they don't understand it fully. Enter, feel, felt and found.
- I understand how you feel. You are building common ground.
- Other people have felt the same way. Your concern is valid. This isn't the first time it's come up.
- Then they found that… You explain the answer to their question or their concern. More information was needed.
Is there anyone else… who else would like to…
This is a technique for soliciting a referral from a client. It's phrased in a way to make it easy for them. Here's the scenario:
A client calls. They've heard about a tax law change that might affect their retirement plans. They only know sketchy details. They've called you for clarification. Although you are not an accountant and don't give tax advice, you can explain the changes, thanks to the background material your firm has provided. Your client is happy with the explanation.
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Bryce Sanders
Bryce Sanders, president of Perceptive Business Solutions Inc., has provided training for the financial services industry on high-net-worth client acquisition since 2001. He trains financial professionals on how to identify prospects within the wealthiest 2%-5% of their market, where to meet and socialize with them, how to talk with wealthy people and develop personal relationships, and how to transform wealthy friends into clients. Bryce spent 14 years with a major financial services firm as a successful financial advisor, two years as a district sales manager and four years as a home office manager. He developed personal relationships within the HNW community through his past involvement as a Trustee of the James A. Michener Art Museum, Board of Associates for the Bucks County Chapter of the Fox Chase Cancer Center, Board of Trustees for Stevens Institute of Technology and as a church lector. Bryce has been published in American City Business Journals, Barrons, InsuranceNewsNet, BenefitsPro, The Register, MDRT Round the Table, MDRT Blog, accountingweb.com, Advisorpedia and Horsesmouth.com. In Canada, his articles have appeared in Wealth Professional. He is the author of the book “Captivating the Wealthy Investor.”
