How to create a successful annuity sales scriptArticle added by Michael Lovas on April 1, 2010
Colbert , WA
Joined: December 10, 2004
Ranked: #70 (940 pts)
For many years now, we've been teaching advisors how to make sales without having to rely on a script. However, the fact is, most advisors need a script to get started. So, we began to use our knowledge of consumer psychology and influence to teach our clients how to create their own effective sales scripts.
In order to move from effective to successful, you have to understand the logic and psychology at work. This article gives you some of that logic and psychology, and we apply them to creating a sales script to discuss an annuity with a prospect.
Inside your prospect's brain
When you talk with your prospects, they immediately go into a decision-making mindset. They don't have any choice in this. As soon as information is presented, their minds naturally deal with it. They instinctively and subconsciously begin to sort through the incoming information.
The mechanism they use in that moment is called Meta Programs. It's their natural mental filtering system, and it includes 60 filters.
We've worked with these filters every day for about 15 years. In that time, we've discovered that while everyone has 60 filters, only a small handful of the filters are consistently important in a selling situation. Here is a map of the four most important:
In this article, we're going to look mainly at the top left quadrant and look at addressing resistance before the prospect does. This way, it becomes a simple conversation, rather than a case of you having to overcome objections.
The technical term for the Resistance filter is "away from." It's the mental motivation to find problems, then move away from them, or avoid them. This includes the reasons "why not" to do something. It's the thought process that searches for flaws with you, your product, and/or your offer. (Dr. Eric Knowles developed some excellent insights into this body of knowledge.) Let's look at each of the main areas of resistance.
When you have not yet made yourself likeable, you become the obvious and most logical target for attack, and you give the prospect a ready justification for saying no. So, before you even begin to deliver your script, you need to make yourself likable to that prospect. The tools to help people see you as likeable are simple and highly effective.
Facial matching -- We came to understand the effectiveness of this tool while we were writing our book on reading faces (Face Values). Most people have no idea what facial expression they're wearing at any time, so they will not know when you are matching their expression. This is important, because if you don't match the face, the prospect unconsciously thinks you don't understand or don't care about what he's telling you.
Agreement -- This is just a matter of responding with, "Uh huh... I see... Yes... Got it... I agree... Good." People tend to like others who agree with them.
For every great idea, product, or service, there are others of equal value. That's just a fact of today's business. Thus, prospects can always find something comparable to what you're selling. In response to product resistance, you might want to write out all the variations of push back you could hear.
When you hear the resistance, just say, "Yes, you're right. And, there's a logical reason for that." When you go into the explanation, hold the notes or brochure or prop out to the side so it is not positioned between you and the prospect. You want to make sure that the objection focuses on the product and not you.
- It's too complicated
- It's too expensive
- It doesn't do "X"
Approximately 15 percent of the population live in a world of sameness. They place high value in the status quo. If you are presenting something that could be seen as new to them, you're going to get resistance. To overcome this type of resistance, all you have to do is reassure the prospect that your product is similarly based on the time-tested standard; in fact, it's even better.
However, what you would never do is introduce a product as new or different in any way. Most people interpret those words as risky and unproven.
Now that you know what the basic objections are, let's look at a script that addresses them:
As you read back through that script and begin to understand what is taking place, you should be able to see how the logic and psychology actually help the prospect feel comfortable with you while you're addressing his/her resistance. When they bring it up, it's an objection. When you bring it up first, it's a sign of your objectivity, integrity and relevance -- all vital elements in building your credibility.
Because sales scripts and presentations are the primary link between you and your prospects, we want to help you improve the results you get from what you say.
Using the forum below, send us one basic script you use. Time permitting, we will give you a psychological analysis of the script and include some guidance on how to fix it.
*For further information, or to contact this author, please leave a comment and your e-mail address in the forum below.
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