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The thought of a client withdrawing their funds with you can trigger a deep sense of fear.
If and when it happens, you most likely would have a feeling of betrayal – “Don’t they recognize my value?”.
How could they do this to you given your knowledge, experience, and the sheer amount of value you’ve delivered consistently as their advisor?
You can complain and defend yourself all you want, but it’s no use, as your value-status has been put into question.
How does this happen?
Why do some advisors often end up in such a deleveraged position in some of their business relationships?
It’s often because, they focus on the wrong areas of their business, like getting more leads, getting the latest management tools, or building out complex lead systems for delivering their knowledge -- all of which add complexity to selling but don’t increase actual sales.
Consequently, they lack confidence in their ability to replace a client if one were to walk away.
A lack of confidence in attracting and converting new clients, leads to a fear of losing your existing clients, which leads to over-delivering on value (also known as “free consulting”), which leads to a commoditized and weakened position.
Eventually, you give all the value you can give, you’re tapped out, and there’s nowhere else to go.
It’s natural to want to be appreciated for the work you do for your clients - and to expect that by doing more work and delivering more value, their appreciation for you will grow.
But there’s a line you must not cross if you’re to maintain your position as the authority, or the one whom they need in the relationship -- and if you cross it, they’ll no longer feel they need you.
Don’t seek appreciation for your knowledge and expertise.
Seek respect from being a “trusted authority”.
Being a trusted authority means that you’re no longer dependent on proving your knowledge and expertise, to make the sale or retain clients.
Rather, your “value” is based on being the one whom your prospects or clients trust to solve their problems for them, so they never think of going anywhere else.
But becoming a trusted authority will require you to change your sales approach.
You’ll need to be trust-based and problem-centric, rather than value-based and solution-centric in your sales conversations.
Why?
Because then you’ll be able to get to the truth of the sale, quickly and without resistance.
Here’s the big idea to get to grips with...
The sale is always and only ever about them, not you.
Creating clarity around their problem makes it easy for them to trust you as an authority on it -- and you don’t need to give value first for this to happen -- you can build trust and make the sale from the initial sales conversation itself.
When you master the art of trust-based selling, you’ll be able to create trust in a split-second and never feel afraid about losing a client again.
To learn more about trust-based selling, order your complimentary book and consultation below.
Related: Are Your Prospects Rational or Irrational?
Ari Galper is the world’s number one authority on trust-based selling and is the most sought-after high-net worth/lead generation expert for financial advisors. His newest book, “Trust In A Split Second” has become an instant best-seller among financial advisors worldwide – you can get a Free copy of Ari’s book here and, when you click the “YES” button in the order form, you’ll also receive a complimentary “plug up the holes” lead generation consultation.