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Sometimes you are on stage and the spotlight is on you and only you. As a benefits professional, you have been trained to get in front of the decision maker. This often requires many preliminary meetings, impressing the right people as you climb the mountain. In other situations you have entered into competition through a request for proposals (RFP). You have made the "short list" and have your opportunity to present before the head of the company, often with other executives present. What must you do?
- Be completely prepared. You are on stage. You are delivering a performance, similar to an actor in a Shakespearean play. These actors do not "wing it." They know the lines they need to deliver. They deliver them with passion. Be thoroughly rehearsed. Lawyers role play, an activity called mooting before arriving to argue their case before the Supreme Court.
- Can you get reinforcement? It has been said, "You cannot poison a rabbit." Why? Because they thoroughly sniff unfamiliar food before eating it. Many managers are naturally cautious. In your office, if you approach your Compliance manager with a new idea, they will likely say "No." If you say: "There is a guy in this other office. He is doing this. I want to do it too," they will likely call that Compliance manager. If they like what they hear, they will give you the go-ahead. Can others in the company or peers of the CEO put in a good word for you?
- Call for backup. This is different from getting someone with the right connections put in a good word for you. You might only get one shot presenting to the top person. Does your home office have an expert, someone responsible for administering plans in this industry? If you are presenting to the board and CEO of a public museum, it helps to bring to the meet the person overseeing plans for other museums across the country.
- Stick to your allotted time. When preparing presentations to be delivered as speaking engagements, you need several versions designed for different time slots. You might have 15-, 30- and 45-minute versions. Why? Because the moderator will tell you how long you have on stage. When presenting before the committee or the CEO, you need to be aware they are seeing multiple presentations. I like to start by acknowledging the time. "I will be making three points in the next seven minutes…" This shows respect for their time.
- Get to the point. Newspaper stories are written with the understanding the first paragraph gets the entire message across. If someone stopped reading at that point, they would have the basic message. Business letters might involve an introduction, body and conclusion. In this case, you are dealing with people who often have a short attention span. Make a point, expand on it and move to the next point.
- Be able to document everything. Someone might ask: "Where did you get that number?" You need to be able to pack up your assertions, reference the study that was done and where they can find the information. They want to know you stand behind your numbers.
- Do not try to bluff your way through answers. They have antennae that detect this technique. You cannot make up an answer on the spot. They will know. It makes more sense to admit what you don't know and give a timetable when they will get an answer.
- Ask for the order. Your entire journey has been to get you to this point in front of this person. You want to present a call to action, list the next steps. "I need the go-ahead from you." Your objective is to get them to say "Do it." The other people around the table make that happen.
Related: Benefits selling: Mastering the art of identifying new business opportunities
They are professionals. You are a professional. You believe your solution is the best solution. You are prepared to work hard behind the scenes to deliver satisfaction. Get that point across.
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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.”
