Recent buyer research tells us that the number one differentiator between advisors who sell and those that don’t is that sellers “educated me with new ideas”. Educating clients is Number ONE for those who most often make the sale but only Number 42 for those who do not. Prospect education is a lot more potent and important than you may have been led to believe.
In fact, the top ten factors for the most prolific sellers don’t even start to appear on the non-seller’s factors list until Number 19! So, despite the plethora of product, tax and estate information on the Internet, people say they need to be appropriately educated before they are prepared to buy.
This means buyers need interpretation, not information – What does all that information mean to them? Context, not content – how that information applies to their situation for them and their families. And finally, wisdom, not data – what’s the right perspective on the information for today and for them.
Education is what people, who buy, say they want most from advisors inspired to give it to them. Sure, they also need collaboration, persuasion, listening, and understanding – in that order according to that research, but they need to know what they don’t know, first. Today, “educating” is the key to selling more. And it makes sense too. When you help clients understand better, they can make the right decision.
Your job is to bring clients the information they need to make the decisions they have to make to get the results they want. You can use this critical information to craft a compelling answer to that all-important question, “What do you do?” That’s the reason there are identity statements, value propositions, and elevator speeches.
Use the “if money were no object” idea in your elevator speech to build education and interest into your approach and attract more potential business. This approach fits almost any financial discipline and can work with any style of business. Here’s how to do it:
“I educate business owners (families, farmers, doctors, contractors, attorneys, retirees…) on the financial security (insurance, investment, financial planning, retirement) portfolio they could have ‘if money were no object’. It’s a look at what’s possible today. Of course, money is always an object, so I then work with them to arbitrate their wants and allocate their budget, so they get their ideal plan in the circumstances. When you start with the best available, you end up with the best you can get. Do you have any idea of what would be ideal in your situation?” (click on page 2 below to continue)
Jim is an advisor and leader Coach, best-selling Author, Podcaster and Keynote Speaker. He has spoken 4 times at the MDRT Annual Meeting including the Main Platform. His weekly Facebook Live broadcast @JimRutaTV, is watched by thousands every month.
Jim is president of Advisorcraft Media and Consulting and his ICON Protocol™ uses the four core competencies of the world’s best advisors to help aspiring advisors excel and excellent advisors become their best. Advisorcraft Study Groups and personal Coaching help advisors with innovative sales, practice management and operational strategies.
Top of the Table advisor and industry icon, Van Mueller, calls Jim “one of the best business coaches in the world”.
Learn more at www.jimruta.com and www.AdvisorCRAFT.com