Trending
The idea of you and your prospects needing to be a “fit” is deeply entrenched in in the old ways of sales thinking.
Some advisors will say, “I only closed 3 clients out of the 10 leads that I got last month... but that’s ok, the other seven weren’t a fit so I let them go. I only focus on those who are a fit”.
This idea is based on the old sales philosophy called “know-like-trust”, which is where you spend time getting to know your prospect to make them like and trust you.
But instead of creating trust and closing the sale like it used to do, this approach now creates indecision.
It goes like this...
Your sales process flows smoothly.
You and your prosect get along beautifully.
But just when you think you’re about to seal the deal they say, “I need to think about it”, and you never hear from them again.
They were such a good fit... until they weren’t.
You’d probably agree (if you’re being honest), no one chooses to lose a sale, so the idea of letting prospects go because they “weren’t a fit” is a bit of a cop out and an excuse.
Sure, you’ll get some who literally have no money or just have a bad personality, and you’re better off not working with them.
But that’s probably only 10% at the very most.
For the other 90%, you didn’t lose those clients because they weren’t a fit -- you lost them because they didn't trust you enough to hire you.
You see, you’re an advisor and when someone schedules a meeting with you, it’s not because they’re looking for a friend or a confidant.
It’s because they have a financial problem, and they don’t feel confident they can solve it on their own (if they did, then they wouldn’t be talking to you).
So, your goal in the intial meeting is not to find out if you’re a fit or if you’re going to get along.
It’s to clarify and simplify their issues – in the first meeting - so you can build their confidence back up and make them feel they can be solved.
The relief from that psychological burden is what they’re really looking for, and what their hiring decision ultimately comes down to.
But here’s the thing...
They’re not simply shopping for a solution to their problem -- they’re looking for someone they can trust to solve it for them.
There’s a big difference in that and your approach will determine whether you’re treated as merely a solution provider (one of many) or a trusted authority.
If it’s the former, then you can expect indecisiveness -- there are many other advisors competing with you, and your prospect will want to compare your solution to theirs.
But if it’s the latter, then you can expect trust in an instant, and to find yourself getting hired in one meeting only.
The bottom line is that if you’re losing more than 5 out of every 10 qualified potential clients, then it’s not because these people don’t like you or that they aren’t a fit.
You’re losing them because your attempt to build rapport with them is taken as a ploy to sell, which makes them feel you’re more interested in getting a client than solving their problem.
In short, they don’t trust you.
Stop trying to build a relationship pre-sale based on the vague concept of “fit”, and shift to providing clarity on your prospect’s financial situation, like a doctor diagnosing a patient.
In a commoditized industry like advisory, the only way to build trust is through your sales process.
Your prospects don’t need to know or like you, to trust you to solve their problem.
They just need to feel the authenticity in your approach.
Be trust-based, not rapport-dependent.
To learn more about trust-based selling, order your complimentary books and consultation below.
Related: Selling Is No Longer a Fishing Expedition
Get Ari’s 6 best-selling books for FREE here and you’ll also receive a Complimentary Sales and Lead Generation Consultation (value $995.00). Ari Galper is the world’s number one authority on trust-based selling and is the most sought-after high-net-worth new client acquisition expert for financial advisors. His latest books "Are You Chasing Ghosts", "Trusted Authority" and "Trust In A Split Second" have become instant best-sellers among financial advisors worldwide, get your free books here.