Advice for the Aspiring Financial Services Agent

by Jacques Werth

I suggest that you join a medium-sized independent brokerage that has several agents who earn $200,000 or more in commissions.  Get a commitment that you will be able to observe their top earners one day a week, while they are prospecting and selling to their own clients.  Take notes on everything they say and do.  Then, do what they do.

Do not offer to reciprocate in any way.  That kind of mentoring is priceless, and most highly successful people enjoy doing it.  If you need help closing some of your prospects, it’s okay to split the commission when they do.

Your market should focus on executives and managers of large organizations that are most likely to have substantial disposable incomes and/or a high net worth.

There are thousands of expert agents and representatives for every financial product and service who cannot sell.  They will do all of the work for a small part of your commissions.  Your expertise should be focused on prospecting and selling.  However, in the beginning just offer life and disability insurance and mutual funds.

Most important – “interested” prospects seldom buy.  Spend your time with prospects that WANT what you offer them.

 

Advice for the Aspiring Financial Services Agent

Persuasion is a Great Way to Sell If…

Another story from my observations of top producer selling methods…

Bill Silvers was the top producer for the largest textile manufacturer in North America. He was the second of hundreds of top salespeople that I observed working with prospects and customers. During the first sales visit that I went on with him, he was showing his company’s new seasonal textile samples to the owner of a dress manufacturing company. The owner said, “Bill, none of these samples are what we want for this spring’s line. We’re going in a different direction.”

Bill said, “Okay Manny. How about telling me about any changes you plan for your summer line?” They discussed that for the next fifteen minutes and then we left.

Walking to his car, I asked Bill why he didn’t try to persuade the customer that his samples would sell. He said, “Manny knows his business far better than I do. If I tried to persuade him, he would feel disrespected, resist my persuasion and he would resent me for trying. This way, I kept his respect and enhanced the probability of doing business with him in another few months.”

Persuasion is a great way to sell if you can find people who want to be persuaded to buy. But, think about how you would react when someone tried to persuade you to buy something you did not want. You would probably resist and resent them, too. That is why prospects who want to be persuaded are so rare that finding them is a real long shot.

If you really think you are a good persuader then you probably make appointments with people who are interested in your products and services. Interested people may seem to be in need of persuasion, though they seldom want to be persuaded and most of them resist. Salespeople who prospect and sell that way make loads of appointments. However, most of them don’t do much business.

Salespeople who think they are not great persuaders often sell a lot more. They gain a big advantage by focusing on finding and making appointments only with people who already want to buy what they are selling.

Good Selling,
Jacques
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If you want to read more about the advantages of not persuading, the first 4 chapters of our book is available online.

If you want to experience what it feels like to talk with a High Probability salesperson, give us a call at 800-394-7762 (disconnected in 2015 – see updated contact page).

Persuasion is a Great Way to Sell If…

Objection-Free Selling?

By Paul  Bunn

High Probability Selling

 

“Whenever you find yourself on the side of the majority, it is time to reform (or pause and reflect).”

   Mark Twain

 I’ve done a bit of internet searching about objections.  In the majority of sales training websites, “overcoming objections” is listed as a critical part of any sales process.  There are a multitude of techniques and tactics offered, including memorizing the 150-plus common objections and using 135 or so phrases to overcome them. 

When you are trying to get people to do something they don’t want to do (such as getting them to give you an appointment, or persuading them to buy something they don’t want to buy yet) you generate sales resistance in the form of objections.  Sales resistance is the most prevalent root cause of the objections that salespeople have to continue to try to overcome. 

What if there was another way to achieve a closed sale without having to overcome objections?  What if there was a way to prevent the sales resistance that causes nearly all the objections heard by salespeople? 

Our research, compiled over 40 years of observing top salespeople in the field, has shown that they eliminate the cause of most objections… by changing the approach to selling.  Several key observations came from this research, two of which are:

Top producers approach prospecting in a very different way.  Instead of attempting to convince a prospect to make an appointment, the goal of their prospecting is to find the prospects that don’t require convincing and persuasion to make a purchase.  Contrary to popular belief, these prospects exist in every market we’ve encountered. 

Then, these top salespeople approach selling in a very different way.  On the rare occasions that an objection comes up, they acknowledge and discuss it with the prospect in a manner that we describe as “full disclosure.”  They discuss the detriments of their offering as well as the features and benefits, which prevent an objection from becoming a deal-killer.

The result:  Objection-free selling.
 

 

If you want to learn the process and mindset of top producing salespeople, you want to learn more about High Probability Selling.

Until Next Time…Sell Well

Jacques Werth – High Probability Selling

Copyright 2007.

 

Tags: How+to+sell, The+secret+to+selling, Selling+and+Persuasion

Objection-Free Selling?