The result is procrastination. You hear phrases like: ‘I’ll think about it.’ ‘It’s not a good time right now.’ ‘I’ll get back to you.’
I’ve been coaching financial professionals for 15 years and I’m continually amazed at how convoluted, technical and dry Advisors can sound!
In the early years when you are faces massive learning curves, it can be easy to lose sight of how real people talk. Your head is down, you’re studying and working to accumulate accreditations and you get bogged down in compliance procedures.
Hang in there! You’re just one step away from making a real impact with your communication.
If you want a Yes, you need to reach your prospect on two levels – their head and their gut.
Your description needs to be simple and clear and easy to understand.
You need to engage their emotions so that there’s a ‘gut-level’ click. They just get it. If you can make them laugh or feel something, you’ve reached them.
The missing piece is a bit of translation. Take all that industry-speak gobbledegook and boil down the essential details into a concept or analogy that people can get their head around!
Paint a picture.
The intrepid business owner in the picture figured out how to grab peoples’ attention and make them laugh, while explaining that he’s in the scaffolding business.
Elon Musk has a knack for explaining complex ideas in a way that instantly makes sense. Case in point: his description of his futuristic 5th mode of transport The Hyperloop:
“It’s a cross between a Concorde, a railgun and an air hockey table”
Selling insurance to young, healthy men is typically a tough go. They feel invincible. The last thing on their minds is preparing for something they think will never happen to them.
This month I’ve had the pleasure of working with Paulo, an Advisor who has a knack for using what I like to call ‘kitchen-table’ or ‘gut-level’ language. I thought I’d share a couple of his analogies:
In sports, you need a good defense before you can have a strong offense. Can’t win without it. That’s how insurance works.
Paulo and a couple of other Advisors have used this effectively:
Imagine if you had a machine that printed millions of dollars of money for you. Would you insure that machine? (of course!) That machine is what you are. Over your lifetime, a typical person earns around 3.5 million dollars. If something happens to you and you’re not prepared, that machine stops printing money.
Put a bit of time aside and create a couple of analogies to describe your top financial products. Painting a compelling picture will quickly help your prospect ‘get’ why they need to invest in what you’re offering.
Once they understand the need for it, the rest of the sales conversation is easy.
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