In Part One of this series, I explained the very first objective in a conversation with a potential client. Today, we're going to look more deeply into the process – how to use very simple psychology to help people say yes to you. Why is this important? Because this is how you prove your worth to that prospect.
- The first thing you need to know is what's going on inside your prospect's head. What are his expectations about you in four areas: your organization, your industry, your profession as a sales person, and you as a person. The point here is that any communication with any prospect is all about that prospect. Your possibility of gaining a new client goes down with each tick you divert your focus from that prospect.
- The second thing you need to understand is that people do not like being put into a box. That makes them feel trapped. And, there's a plague of it in the financial industry. It happens when you jump to the solution before the prospect has finished expressing the problem. If you jump in before he's finished, you are dragging him into what we call the "Solution Box." As soon as you do that, you are taking the focus off helping the prospect and forcing it on helping yourself.
Unless you're selling unimportant consumer products (tube socks, pencils, printer ink, hair products, vitamins…) the prospect will feel manipulated and trapped. This is especially true today when the consumer feels so betrayed by the financial industry. (see Edelman Trust Barometer)
- The third thing to understand is the objective. If you're slling high value products and services, your objective is NOT to make a sale. The relationship and subsequent introductions are far more valuable than merely one sale. And, actually, it's not just one objective, but rather a series of objectives:
- Show yourself as being safe.
- Establish trust.
- Make a strong personal connection.
- Prove that you are a resource to help the client think through tough questions.
- Cause that client to reflect on and think about your conversation through the next 24 hours.
If you can accomplish those objectives, you will have made your connection, demonstrated your credibility and avoided alienating yourself from that person.
Questions Rule
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The most effective tool you can use to accomplish those objectives is questions – ah, but which questions? Because personality types and values differ from person to person, it's not easy to know what will be the most effective questions to ask. So, I'm going to teach you a process that will help you quickly see which questions are the right ones at the right time.
It's a no-brainer, two-step process, so just enjoy the conversation. Start by asking simple short-answer questions. They allow the prospect to start interacting easily with you. They invite the prospect to think outside of the solution box. And, with each bit of data you collect from him, you gain possible connections where you can demonstrate your credibility and relevance.
The simple process is to make a simple statement first, then ask the question. The statement sets up the question. But, the questions are probably not what you are accustomed to asking. They're more reflective. They're friendlier. They do not aim at the solution. Think of them as helping hands guiding the client through a process of situational thinking.
First the general topic. Next a slightly more specific situation (determined by the prospect). They include reflective pauses. See the table on the next page. The left side shows you the questions not to ask, and the right side shows examples of ones you should ask. Just mix and match them.
| Category | Dangerous"Solution Box" | Set-upStatement | Consultative Questions No Box |
| Financial Planning Service |
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| Insurance |
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Why does this approach to questions work?
Because when you ask them, you're not talking about yourself. However, they give you the opportunity to demonstrate to your prospect that you're not out for a quick sale. You demonstrate that you know how to listen and honestly want to hear what he/she has to say. You demonstrate your experience and wisdom. You might think about it like this – any person willing have that conversation with you is still looking for an advisor he/she can trust. Is that you?
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