Stop talking, start closing: Here's when your prospect is ready to buy
We’ve all heard of people who “talked themselves out of a sale." When do you stop presenting and start closing?
You know the drill. When competing for corporate accounts, they have a structure. They might bring you back for a second round, like making it into the semifinals on The Great British Banking Show. But when selling to individuals, the rules are different. They won’t say: “Stop talking. You’ve convinced me! Where do I sign?” We’ve all heard of people who “talked themselves out of a sale.” When do you stop presenting and start closing?
Sometimes you don’t need to! As a financial advisor, I once had an experience when a client referred me to a friend. When we met, she handed me a stack of papers and said: “You are my new financial advisor.” It’s rarely that easy.
Signs before arrival
Some “we are close” signals happen before you even meet!
Referrals are interested. Your client did the heavy lifting for you. They delivered an interested prospect.
They are prepared. Before meeting, you told them what to bring. They arrive saying “It took me forever, but I managed to find everything you wanted.”
They have a need. We often go to the doctor for periodic checkups. Sometimes we ask for an immediate appointment because we’ve got a pain or see a disturbing symptom. If your prospect is meeting because they have voiced a specific need, they are motivated to address the need.
Signs while you are presenting
You learned about them. You put together a financial plan that led to a proposal. You are delivering the proposal now. Of course you will review Compliance items and costs during the presentation, but when do you know they are ready to commit?
Trial closes get “Yes” answers. You’ve asked questions along the way. They’ve agreed on every one. That sounds like “buy in.”
Interaction. They are asking questions. Often it sounds like they think they already own the products. “What if I don’t want the income for the first six months? Can I reinvest it?” “Those monthly premiums you mentioned…Can I pay them through an automatic debit to my checking account?” They are eager.
Body language. Rocking back on the chair legs with crossed arms and a sour grimace means “You haven’t convinced me.” Leaning forward, smiling and asking questions communicates “I’m on board.”
They are unlikely to say “What happens next?” You will need to give them Action Steps.
Your close might start with “The next step is funding the account…” It might be bringing out the paperwork, explaining it and showing them where to sign.
You will be asking for the order. Here’s where you can use your own style, what works best for you.
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