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Two of the most important and often least desirable parts of sales are asking for the order and prospecting. We are great at learning about prospects. We excel at assembling world-class proposals. We can dazzle with presentations. Yet closing the business deal can be difficult.
We get lots of sales training, yet transitioning from presenting information to walking away with signed papers can be tough. Here's the good news: You don't need to reinvent the wheel. Let's look at four effective strategies:
1. The financial planning process. This is designed for working with people, yet it can be easily adapted to working with a business.
- You meet and gather data. Why? You want to present a solution tailored to their needs.
- During the process, you spot some low hanging fruit or immediate business. You resist the temptation because you are interested in the big picture.
- At the next meeting, you review the data gathered, now in the form of a financial plan. You use trial closes to keep their attention. You frequently refer to their stated objectives and how parts of your proposal address those objectives.
The close: "Implementation is the next part of the process. Here's what we need to do…" Out come the papers.
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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.”
