Presentation on theme: "Re-engineering the Interview The next time that you meet with a bona fide qualified prospect what will you sell?"— Presentation transcript:
Re-engineering the Interview The next time that you meet with a bona fide qualified prospect what will you sell?
Re-engineering the Interview The next time that you meet with a bona fide qualified prospect what will you sell? The answer that I am looking for is not, that depends
The Answer from On the Shoulders of Giants Selling: The Relationship The Relationship Trust and Confidence Trust and Confidence Their Process Their Process
One Trick Ponies? Average Increase in Annual Sales Revenue Among High-End Advisor, by Advisor Segment Source: VIP Forum 2002
Rewriting the Typical Sales Model Introduce our Solution Which will lead to a discussion of their Problems (advisors and or clients) Giving us the ability to have an In-depth Interaction That if all goes well will lead to Transaction
Do you believe that purchasing decisions are emotional or logical? When you dont get the business what usually happens? (who are your competitors?)
Your Mental Behavioral Systems Behavioral Activation Behavioral Activation Behavioral Inhibition Behavioral Inhibition For Internal Use OnlyNot for Use with the Public August 2007
Who is your biggest competition? If people choose not to do business with you what are their options? They can do it themselves They can do business with someone else They can do NOTHING!--- Is it the status quo that wins most often when you lose? For Internal Use OnlyNot for Use with the Public August 2007
If your goal is to get money in motion---what is your best tool to get the motion starting?
To get the money in motion you must understand and be able to relate to the clients Emotions!
Ibbotson Charts Ibbotson Charts Hypothetical Illustrations Hypothetical Illustrations Asset Allocation Quilts Asset Allocation Quilts Monte Carlo Analysis Monte Carlo Analysis
Introducing the Conversational Stack What would have to happen… What would it mean to you? What would you be doing differently? What would it be worth to you?
Getting to the Gap Client says they want higher returns and less risk What do we now know?
The Answers behind the Answers Get beyond the reflex response to the emotion that is really driving the behavior You have to get them to open the floodgates
Cobbs First Theorem of Sales Success A Salespersons Closing Ratio is Directly Related to the Percentage of the conversation controlled by the prospective client
6 Part Strategy to Getting to the Floodgate Experience How can I help? How can I help? To what Degree (The Ultimate Value Proposition) To what Degree (The Ultimate Value Proposition) RSNIP Disclosure RSNIP Disclosure Conversational Stack Conversational Stack Exploratory Questions Exploratory Questions Hyper-Open Ended Questions Hyper-Open Ended Questions Deepening Questions Deepening Questions
Stacking your Responses What would have to happen… What would it mean to you? What would you be doing differently? Ultimately, What would that mean? What would that be worth to you?
7 Steps to Closing more sales faster Understand the Gap Between where they are and where the want to be. What in your life… What in your life… On a scale of 1 to 10… On a scale of 1 to 10… If you had a realistic magic wand… If you had a realistic magic wand… The Ultimate Recipe Elicitation… The Ultimate Recipe Elicitation…
Clearly Recognize how they define their outcomes Risk, Safety, good returns, retire early, retire comfortably, pay less taxes all mean different things to different people. Make sure that you understand and can quantify what it means to your clients and prospects.
Identify what will potentially improve when they close the gap What will they do? Who will they do it with? What will it mean to their peace of mind about money, work, relationship with others? Cause them to successfully imagine enjoying the potential benefits of taking action
Position them to take action Now that you know (and sometimes more importantly, so do they) where they want to be, is there anything that has to take place before they take action?
Building a Benefits Bridge The Majority of sales people focus most of their time and energy on their solutions focusing on the features of their offering. Champion sales people focus on the clients problems issues and concerns and how the benefits of their offering might help solve the clients problems issues and concerns
Intertwine your Solution with the Clients Ultimate Outcome The decision to implement is easier to make if the client understands you have made the recommendation based on their long term goals and objectives; risk tolerances, and time horizons
Position yourself for future business You can choose to make the moment when you drop the ticket…the moment that you have closed the sale Or The moment that you begin the relationship
Closing More Sales Faster Once you have identified a true outcome GRIP it GThe gap between where they are and where they want to be RRecognize how they define it IIdentify what will change when it closes PPersonal Decision making Process
The Ultimate Sales Presentation R-Relate the Benefits vs. the costs and risks of your Solution to the closing of the GAP I-Intertwine their outcome with the implementation of your recommendation P-Position them for Future Sales (The 90 Day Dazzle)
Additional Resources Building the Ultimate Bank Advisor Book and Audio Building the Ultimate Bank Advisor Book and Audio Unleashed the Seven Magical Steps to the Ultimate Referral Unleashed the Seven Magical Steps to the Ultimate Referral 90 Day Dazzle 90 Day Dazzle Ultimate Bank Advisor Master Class Home Study Course Ultimate Bank Advisor Master Class Home Study Course