How to Make Prospective Clients Violently Negative
Oh yes, I suppose I should explain the odd title of this week’s tip, but don’t you think that would be a great seminar to attend? There are lots of seminars on how to make clients happy, but I for one think a seminar based on what not to do, would also be quite valuable. More on that in just a few paragraphs time…
I have been coaching advisors for many years, and I have seen just about every prospective client ‘onboarding’ process under the sun. Some (most actually) simply operate under the mandate of ‘get the deal.’ Some advisors ‘interview’ prospective clients and look for hot buttons, and then push them, so they can ‘get the deal.’ Some advisors lead with how they approach investing and sometimes it can be very technical. The advisors describe their approach to investing the best they can, and then they try to ‘get the deal.’ Spot the pattern yet?
All of those methods can be effective to some degree of course, but think about whatever approach you are using right now, and ask yourself the following two questions:
- Is my approach memorable?
- Could I be referred based on that onboarding approach alone?
If you are a Pareto System coaching client, you just answered yes to those two questions, and I know that just as sure as I know the leaves are going to fall off the trees this autumn.
Oh yes, back to the catchy title of this week’s tip. One of my coaching clients recently attended a conference and what the company had done as a part of this conference, was to recruit a panel of laypeople. The laypeople, none associated with the Financial Services Industry, were asked to watch a variety of different approaches, facilitated by different advisors, and then they were asked to vote positively or negatively on what they had just seen. These were real live potential clients, and they had established beforehand that anyone on the panel had to have minimum assets of $250,000 and upwards. Wow.
This was an incredible thing for an advisor to see; real people voting negatively or positively on the usual array of approaches that advisors lead with when meeting prospective clients. In my opinion, it was simply a fantastic idea on the part of the company hosting the conference.
Anytime one of the advisors started talking about anything remotely technical, or used insider jargon, people voted violently negative across the board.
I was not there, but this is what my client told me about the experience: “Terry it was crazy; anytime one of the advisors started talking about anything remotely technical, or used insider jargon, people voted violently negative across the board. One time it was the advisor saying as something innocent as ‘I use an open platform.’ and the negative votes flooded in. On the other hand, any time someone talked about the importance of ensuring that it was a good fit, and that they had a process, the panel voted overwhelmingly positive.”
Now to my client, who had already undergone his transformation with us for a few months now, and who had already seen prospective clients’ reactions to his new approach, this was nothing particularly new, but it dramatically increased his confidence about being on the correct path. What path is that you may ask?
Pareto Systems clients are always taught the importance of ensuring a proper ‘fit’ with prospective clients, and then they are taught all of the necessary processes to ensure that a ‘fit’ is met. Sometimes there is a fit, and sometimes there is not, but in every case, the process was memorable, and it was extremely attractive to the prospective clients in either scenario. I have heard many times from advisors over the years that sometimes even prospective clients that went through the process, and were not a good fit, actually ended up referring someone back to the advisor that was a good fit!
When prospective clients ask our coaching clients about their approach, they are able to delightfully respond with this sentence: “Absolutely, I have a process for that very thing! Why don’t I call you when I get back to the office, and I can tell you more about that.” Prospective clients LOVE it.
When I ask advisors if they would be open to an approach whereby prospective clients actually aspired to work with that advisor, instead of the advisor trying to convince them, many advisors think I am nutty as a fruitcake. My clients would stick up for me though, after all, that is the world they now inhabit, and they would never look back.
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With the holiday season fast approaching, it’s time to order your greeting cards. And don’t just get any greeting card, obtain the most stunning cards you can find and own the mantle this holiday. We suggest Lavish Cards. Also, if you are looking for a beautiful and cost-effective calendar to send to your favorite clients, Lavish has a beautiful array of calendars with stunning images for each month. In addition to their website at lavishcards.com, you can reach the team at 1-888-599-7599.