How to close bigger sales using new technologyArticle added by Tyler Hoffman on January 20, 2011
Tyler Hoffman, FMA

Tyler Hoffman


Joined: August 27, 2010

My Company

Tyler Hoffman

How do you plan on closing bigger sales within your market? What if you can close more sales, and they're bigger sales? This is a double edge impact. This is why I am seeing such huge increases in advisers' businesses when they use a high-touch, multimedia Web-based presentation.

There are two things I've learned about working with clients. First, the higher the quality of the prospect you talk to, the more they respond to quality in the way they're approached. Second, the higher the quality of prospect you talk to, the better the gate keeper is in keeping you out.

The thing I love about multimedia presentations is that they bypass the gatekeeper and get you straight to the decision maker, enabling you to make a perfect pitch every time.

Trust is paramount isn’t it? The more professional you appear to be, the greater sense of trust people will have in you. You will be able to close bigger sales because when your prospect trusts you, they will invariably give you more of their business.

But you can’t just dress nicely and smile for the camera. There are three things you must do in order to put yourself in a position to gather the additional business you don't have now. I've found you can't do this with a letter, nor can you do this with a phone call. You've got to put something tangible in your client's hands that does the following three things:
    1. Solidifies relationships
    First, you've got to put something in your client's hands that solidifies the relationship, reminding them of the reasons they selected you, and reinforcing those reasons which instill confidence.

    2. Fully educates
    Second, you must educate clients fully as to the entire range of ways you can help them. This is one of the biggest mistakes we make. We assume, incorrectly, that because they're clients, they understand all that you can do. No way.

    I hear this all the time from advisers: “We thought all you did was life insurance. We've been doing all this other business down the street at XYZ firm. Now that we know, we'd really prefer to have you!”

    3. Establishes credibility
    The third thing you have to do is finish the job. You didn't need to fully establish credibility in order to get them to buy once. No, partial credibility was all you needed. You had established just enough credibility so they threw you a bone. They said, "You know, Tyler, that sounds good. Let's put $50,000 over here."

    Now the mistake we make is we call them a client. In my opinion, they're not a client; they're still a one-time buyer. So, how do we take the one-time buyer and turn them into a lifelong, multiple purchase client? We must finish the job and fully establish credibility. See, it's you they buy first, which means it's your credibility that's at stake. To establish your credibility, you must give them information about you. You can't do that with a paper business card or even a brochure, because there's nothing about you that jumps off the page.
The advisers who use the newest technology available in multimedia presentations will position their practice to gather new premiums and more assets overnight. Good luck!
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