One of the most difficult hurdles a salesperson will face is getting customers to buy. The “close” is the point at which a customer decides to buy and you receive payment.
You can’t close a sale unless you ask for it, and asking for the sale can be intimidating. You’re asking someone to give you money, after all. But if you want to sell, you have to learn how to close sales.
The Close Is Not Just An End; It’s Everything You Do
The first thing I want to point out is that the “close” is not a single event, but rather a series of events that begin with your first contact with a prospect and continue until the sale is complete.
If you had to define your job in one sentence, it might be this: “You are responsible for helping people who have money to make decisions about how to invest it.”In other words, your job is to help them make those decisions by understanding their needs, presenting options they can understand and evaluate, and closing on the one that makes sense for them.
By implication, if you do a good job with your clients upfront – and in every phase of the sales cycle, then the close will come naturally.
So if you want repeat business (and who doesn’t), you need a system that’ll set you up for success at every touch-point with a potential customer: from prospecting and qualifying through to closing. And the best part? The best sales system can be replicated – meaning it can be taught and learned irrespective of your experience level. It’s like learning how to drive — once you’ve got it down, it’s easy to do again and again.
Based on raving reviews from fellow advisors who have hitherto given up on filling their book of business with clients, the Taylor Method is a sales training system for advisors taking the industry by storm. A comprehensively developed practical guide from a fellow advisor that started from scratch to become an active million-dollar round table top of table producer, the premise of this sales method is simple: It lets you tick all the right boxes so that when it comes time to ask for the sale, you know exactly what to say when to say it, how often to say it — and why it’s important for them to buy allowing you to increase the number of clients you work with as well as see a huge boost in your overall income.
Don’t leave a single dime on the table, learn more. In the short time the Taylor Method has been around, the steady influx of praise it’s received has been overwhelming – it’s become more than talk – advisors across the country have seen results.
Be A Solutions Facilitator Before You Ask For A Sale
Here’s the thing: If you go into a sales call with the intention of closing a sale, you probably won’t succeed.
That’s because most advisors who try to close a sale from the beginning aren’t closing anything. They’re just being pushy and annoying.
The truth is that advisors who want to make huge money are great at opening doors of opportunities and solving problems.
Here’s what to do:
When next you have a prospect in front of you, ask yourself: Is there something that I can do for this person that won’t cost me extra but rather make them see more value for their money’s worth?
In most cases, yes. These “opportunities for a sale” might be staring you in the face.
You need to analyze the fact-find – i.e. the tangle of facts and information that makes up your prospect’s situation and problems – and look for areas where there are gaps or discrepancies between what they want and what they have now. Then you need to find solutions for those gaps or discrepancies.
For example:
You have an existing client who wants to take out another policy with you because she is thinking about starting a business and needs protection against loss of income from her current job if things go wrong with her new venture. But there’s a problem – her credit history is poor.
What can you do here? Well, refer to a professional in your network that can help her improve her credit score so she can qualify for better rates on insurance. That’s what it means to be a solution facilitator in a nutshell!
Try this before you ask for their money and then watch how quickly things open up for you.
Tips To Help Financial Advisors Close More Sales
Use The Right Words
The language you use when you’re trying to win over a prospect can make or break your ability to close the deal.
Make sure that everything you say is crystal clear and easy to understand. Use simple words and phrases so that there’s no room for confusion or misinterpretation.
And don’t be afraid to use analogies or metaphors – they give your prospects an easy way to picture what you’re saying in their heads without having to strain themselves too much!
Make Sure They Understand What They’re Buying
Take the time to explain everything, from the product or service that you’re selling to the terms and conditions of the sale. If you don’t do this, you’ll end up losing sales. If your client doesn’t understand what they’re buying, they might not be able to make good use of it.
Quell Objections Before They Arise
When someone says “no” to your offer, they’re usually saying “yes” to something else. So it’s important to find out what that other thing is and address it first.
Additionally, people often object because they don’t understand what you’re proposing or why it’s good for them — not because they don’t want it at all! By answering their questions and addressing their concerns, you can move toward a sale instead of away from one.
You should also know that there are different types of objections, and each requires a different response from you as an advisor.
For example:
Objections that relate to having another advisor or company may arise if they have already invested in an insurance policy or retirement plan through another financial planner or advisor. In this case, it is important that you deal with such objections by explaining how working together will provide them with better services and assuring them you won’t “undo the good works the other person has done.”
If they say they don’t have enough money, then you can uncover opportunities that’ll help them increase their savings or decrease their debt.
Ask For The Sale
You can’t expect clients to buy something unless you ask them. It’s that simple!
If there’s something you want from them (a new investment product or service), then ask them directly if they will buy it or not. Don’t beat around the bush or be too subtle about it either.
Last Words
Sometimes we expect our clients or customers to “buy into” our services. The next time that you are ready to close the sale, refer back to these closing strategies. Remember, in the sales world those who succeed do so because of certain approaches that make them more confident in their abilities – a little preparation and planning can go a long way towards putting more money in your bank account.
