When Financial Professionals Miss The Big Picture

It’s critical to understand the big picture and how to make money as a sales professional.
Your goal is to have face to face meetings with prospects who meet two criteria:
1. The prospect has money in their control (i.e. not tied up)
2. The prospect is interested in opportunities to do better with their money

If you have any additional criteria, you will lose money as an advisor.For example, if you have a third criteria that the prospect have interest in product A because you sell product A, this will cost you a lot of sales because there is NO PROSPECT who cares about product A..  Prospects care about their objectives such as
1. Safety of principal
2. Tax relief
3. Liquidity
IT’S YOUR JOB TO SHOW PROSPECTS HOW THEIR OBJECTIVES ARE CONSISTENT WITH YOUR PRODUCTS AND SERVICES.The prospect has not interest in what you sell OtHER THAN fulfillment of THEIR OBJECTIVES.

Most sales people fail to focus on the maximum number of appointments with prospects who are viable, the sales person will call the prospect to determine their interest in only what the sales person offers..  But such a call makes it obvious to the prospect that your interest is in YOUR PRODUCTS AND SERVICE  and not their objectives.That’s why you can’t get as many appointments as you desire..

A short story will illustrate.  We run a lot of ads on the Internet to find consumers interested in financial topics.The ad which receiving the most responses was for information about an item we don’t provide..This is a hot topic for your buyers.But the sales people were not interested in those prospects.  I can’t make any money talking to people about social security.”

This is unfortunately a near sighted view that keeps most advisors poor.There are many prospects you will never uncover because you focus on your product rather than the prospects’ concerns..

Focus on the big picture–meet with people you can help and don’t focus on your products and services.Your products and services are merely tools to help people accomplish their objectives, products and services you don’t need to discuss until the last 10% of your conversation.

Additional insights to sell more can be found at the ProspectMatch Blog.