Absolutely nothing you do as a Financial Advisor is as important as ‘closing the deal’, right? It can, however, be the hardest part of the sale though. You’ve created a relationship with the client, listened to them attentively, and tailor-made the best possible solution for them, and right at the end they just don’t sign? How do you close more sales?
How can you get your customers to sign on the dotted line, every time –without being too ‘salesy’? Here are our top five tips to being a better advisor AND a better closer:
This may have been the first thing you learnt in sales school, but building trust really is an imperative part of the sales cycle and most especially to the closing of a sale. According to Forbes.com contributor, Elizabeth MacBride, building trust does one of four things:
- shortens the sales cycle
- increases prospect conversion
- eases pressures to lower fees
- saves business development time and expenses.
All of which sound pretty good, right?
Solve a Problem
Most of your mentors will tell you, your main role is to problem solve. Offer clients the solutions they need – solve their problems – and your sale should be guaranteed. When you get into a position that you know your clients and their needs so well that you are solving problems they didn’t even know they had, then you’re really cooking.
Leave your laptop in the boot
Sales Guru frontman, Mark Keating, noticed that his sales shot through the roof when he stopped boring his clients with dull presentations. “There was a time when I would roll out a presentation as soon as I sat in front of a prospect, but once I realized that nobody … not one person … really cared about what my presentation said, I stopped doing it and started asking questions.” Says Keating. Forget about your sales pitch, listen to your client.
Forget the Pitch
Leading on from ditching the presentation, now it’s time to ditch the pitch too! Especially in the financial advisory and investment business, there is so much information and misinformation out there that clients can become untrusting. Kim Brown, President of American firm, JNBA Financial Advisors says, “if you give people information and options, and remain as objective as possible, there is a self-selection process that occurs. You ultimately end up with the right clients and they end up with the right advisors and everyone wins.”
The Direct Close
There are many closing techniques to choose from – every company will have their list of preferred pitches. At DFC Greater Gauteng, we believe that if you’ve met the client’s needs and you’re confident in your service and the package you’ve put together, there should be no reason why you can’t ask the direct question, “so, Mr Customer, are you ready to sign?” It shows confidence in yourself and the product, but make sure you are sure that his answer will be YES!
If you want to work for the best Financial Advisory firm in Gauteng, contact DFC Greater Gauteng today – and start closing!