Re-engineering the Re-engineering the InterviewInterview

The next time that you meet with a The next time that you meet with a bona fide qualified prospect what will bona fide qualified prospect what will you sell?you sell?

Re-engineering the Re-engineering the InterviewInterview

The next time that you meet with a The next time that you meet with a bona fide qualified prospect what will bona fide qualified prospect what will you sell?you sell?

The answer that I am looking for is The answer that I am looking for is not, “that depends”not, “that depends”

The Answer from The Answer from On the On the Shoulders of GiantsShoulders of Giants

Selling:Selling:•The Relationship The Relationship

•Trust and ConfidenceTrust and Confidence

•Their ProcessTheir Process

One Trick Ponies?Average Increase in Annual Sales Revenue Among High-End Advisor, by Advisor

Segment

-60-50-40-30-20-100

10203040

2000-2001

HolisticFinancialPlanningApproachInvestmentGeneralistApproach

Source: VIP Forum 2002

Rewriting the Typical SalesRewriting the Typical Sales ModelModel

Introduce our Introduce our SSolutionolutionWhich will lead to a discussion of their Which will lead to a discussion of their

PProblems (advisors and or clients)roblems (advisors and or clients)Giving us the ability to have an In-depth Giving us the ability to have an In-depth

IInteractionnteractionThat if all goes well will lead to That if all goes well will lead to TTransactionransaction

Do you believe that Do you believe that purchasing decisions are purchasing decisions are emotional or logical?emotional or logical?

When you don’t get the business what When you don’t get the business what usually happens? (who are your usually happens? (who are your

competitors?)competitors?)

The Ultimate Mental Decision The Ultimate Mental Decision BalanceBalance

The Ultimate Mental Decision The Ultimate Mental Decision BalanceBalance

Your Mental Behavioral SystemsYour Mental Behavioral Systems• Behavioral ActivationBehavioral Activation• Behavioral InhibitionBehavioral Inhibition

For Internal Use Only—Not for Use with the PublicFor Internal Use Only—Not for Use with the PublicAugust 2007August 2007

Who is your biggest Who is your biggest competition?competition?

If people choose not to do business with you If people choose not to do business with you what are their options?what are their options?

They can do it themselvesThey can do it themselvesThey can do business with someone elseThey can do business with someone elseThey can do NOTHING!--- Is it the status quo They can do NOTHING!--- Is it the status quo

that wins most often when you lose?that wins most often when you lose?

For Internal Use Only—Not for Use with the PublicFor Internal Use Only—Not for Use with the PublicAugust 2007August 2007

If your goal is to get money If your goal is to get money in motion---what is your best in motion---what is your best tool to get the motion tool to get the motion starting?starting?

If your goal is to get money If your goal is to get money in motion---what is your best in motion---what is your best tool to get the motion tool to get the motion starting?starting?

To get the money “in motion” you To get the money “in motion” you must understand and be able to must understand and be able to relate to the client’s Emotions!relate to the client’s Emotions!

Seduction of the Left Side of Seduction of the Left Side of the Brainthe Brain

Seduction of the Left Side of Seduction of the Left Side of the Brainthe Brain

• Ibbotson ChartsIbbotson Charts

• Hypothetical IllustrationsHypothetical Illustrations

• Asset Allocation QuiltsAsset Allocation Quilts

• Monte Carlo AnalysisMonte Carlo Analysis

Introducing the Introducing the Conversational StackConversational Stack

What would have to happen…What would have to happen…

What would it mean to you?What would it mean to you?

What would you be doing differently?What would you be doing differently?

What would it be worth to you?What would it be worth to you?

Getting to the GapGetting to the Gap

Client says they want higher returns and less Client says they want higher returns and less risk risk

What do we now know?What do we now know?

The Answers behind the The Answers behind the AnswersAnswers

Get beyond the reflex response to the Get beyond the reflex response to the emotion that is really driving the behavioremotion that is really driving the behavior

You have to get them to open the floodgatesYou have to get them to open the floodgates

Cobb’s First Theorem of Sales Cobb’s First Theorem of Sales SuccessSuccess

A Salesperson’s Closing Ratio is Directly A Salesperson’s Closing Ratio is Directly Related to the Percentage of the Related to the Percentage of the

conversation controlled by the prospective conversation controlled by the prospective clientclient

Stacking your ResponsesStacking your Responses

What would have to happen…What would have to happen…

What would it mean to you?What would it mean to you?

What would you be doing differently?What would you be doing differently?

Ultimately, What would that mean?Ultimately, What would that mean?

What would that be worth to you?What would that be worth to you?

7 Steps to Closing more sales 7 Steps to Closing more sales fasterfaster

Understand the Gap Between where Understand the Gap Between where they are and where the want to be. they are and where the want to be.

•What in your life…What in your life…

•On a scale of 1 to 10…On a scale of 1 to 10…

• If you had a realistic magic wand…If you had a realistic magic wand…

•The Ultimate Recipe Elicitation…The Ultimate Recipe Elicitation…

Clearly Recognize how they Clearly Recognize how they define their outcomesdefine their outcomes

Risk, Safety, good returns, retire Risk, Safety, good returns, retire early, retire comfortably, pay early, retire comfortably, pay less taxes all mean different less taxes all mean different things to different people. Make things to different people. Make sure that you understand and sure that you understand and can quantify what it means to can quantify what it means to your clients and prospects.your clients and prospects.

Identify what will potentially Identify what will potentially improve when they close the improve when they close the gapgap

What will they do?What will they do?

Who will they do it with?Who will they do it with?

What will it mean to their peace of mind What will it mean to their peace of mind about money, work, relationship with about money, work, relationship with others?others?

Cause them to successfully imagine Cause them to successfully imagine enjoying the potential benefits of taking enjoying the potential benefits of taking actionaction

Position them to take Position them to take actionaction

Now that you know (and sometimes Now that you know (and sometimes more importantly, so do they) where more importantly, so do they) where they want to be, is there anything they want to be, is there anything that has to take place before they that has to take place before they take action?take action?

Building a Benefits BridgeBuilding a Benefits Bridge

The Majority of sales people focus most of their time and The Majority of sales people focus most of their time and

energy on their solutions focusing on the features of their energy on their solutions focusing on the features of their

offering. offering.

Champion sales people focus on the client’s problems issues Champion sales people focus on the client’s problems issues

and concerns and how the benefits of their offering might and concerns and how the benefits of their offering might

help solve the clients problems issues and concernshelp solve the clients problems issues and concerns

Intertwine your Solution with Intertwine your Solution with the Client’s Ultimate the Client’s Ultimate OutcomeOutcome

The decision to implement is easier to The decision to implement is easier to make if the client understands you make if the client understands you have made the recommendation have made the recommendation based on their long term goals and based on their long term goals and objectives; risk tolerances, and time objectives; risk tolerances, and time horizonshorizons

Position yourself for future Position yourself for future businessbusiness

You can choose to make the moment You can choose to make the moment when you drop the ticket…the when you drop the ticket…the

moment that you have closed the moment that you have closed the salesale

OrOrThe moment that you begin the The moment that you begin the

relationshiprelationship

Closing More Sales FasterClosing More Sales Faster

Once you have identified a true outcome GRIP itOnce you have identified a true outcome GRIP itGG The gap between where they are and The gap between where they are and

where where they want to bethey want to beRR Recognize how they define itRecognize how they define itII Identify what will change when it closesIdentify what will change when it closesPP Personal Decision making ProcessPersonal Decision making Process

The Ultimate Sales The Ultimate Sales PresentationPresentation

R-Relate the Benefits vs. the costs and R-Relate the Benefits vs. the costs and risks of your risks of your Solution to the closing of the GAPSolution to the closing of the GAP

I-Intertwine their outcome with the I-Intertwine their outcome with the implementation of your implementation of your recommendationrecommendation

P-Position them for Future Sales (The 90 P-Position them for Future Sales (The 90 Day Dazzle)Day Dazzle)

Additional ResourcesAdditional Resources

•Building the Ultimate Bank Building the Ultimate Bank Advisor Book and AudioAdvisor Book and Audio

•Unleashed the Seven Magical Unleashed the Seven Magical Steps to the Ultimate ReferralSteps to the Ultimate Referral

•90 Day Dazzle90 Day Dazzle•Ultimate Bank Advisor Master Ultimate Bank Advisor Master

Class Home Study CourseClass Home Study Course