| So, you have made it through the prospecting | | | | best. They will also tell you what they didn't |
| game. You made your cold calls, sent out your | | | | like...and then you can move forward from there. |
| mass mortgage mailers, invited people to your | | | | If they were turned off by the price....them give |
| coffee-sponsored seminars, you qualified | | | | them other options. If they were turned off by |
| responders as being serious prospects and have | | | | the fee structure of A-share mutual funds, then |
| set the appointment. | | | | tell them about B or C shares. |
| Now what? You have done all this work, are you | | | | 4. Suggest/Recommend- This isn't so much a |
| sure you are going to get their business? In this | | | | closing technique as it is a phrase that sets you |
| article are 5 closing techniques to help you solidify | | | | apart from others by presenting you as the |
| the deal and make the sale. | | | | expert. Think about the times you have heard |
| 1. Quality Demonstration - If you are going to | | | | people use this phrase with you. Typically most |
| take the time to give a demonstration, be sure | | | | large oil changing stations will say at the end of |
| that you listen to your potential client's needs and | | | | their "12 point inspection", "I recommend you flush |
| interpretations of what they expect to get out of | | | | out your steering fluid or use a fuel injector |
| your appointment. There is nothing worse than | | | | cleaner". What happens is that, they are |
| explaining variable life insurance and all the | | | | recommending this to you, which gets you |
| different cash options and disability waivers...to find | | | | thinking, "hmm...they are the experts, perhaps I |
| out they only have a budget of $50 per month. | | | | should listen to them". Versus someone saying, |
| So, listen and then tailor your demonstration to | | | | "you NEED to do this." That phrase turns us off. "I |
| focus on their needs and to solve whatever void | | | | don't NEED to do anything!" When you are sitting |
| they need filled. Don't get too wordy. The best | | | | with a prospective client and you have finished |
| demonstrations have few words, but are very | | | | your demonstration and they have agreed that |
| poignant. | | | | they need to begin a college savings plan, or |
| 2. Small-closes - Throughout the demonstration, | | | | invest in a sound life insurance policy, the next |
| try to get periodic "buy ins" and acknowledgments | | | | phrase out of your mouth should be, "As your |
| that you are on track with solving their needs. | | | | Financial Representative, I suggest we get started |
| Ask for their opinions, ask open ended questions; | | | | with....." or "I recommend that we.....". It sets you |
| be sure to engage the potential client. If you can | | | | up as the professional that they will trust. |
| make many small closes throughout the sales | | | | 5. Take the sale away -This phrase sounds like |
| process, then when it comes time to pull out the | | | | the opposite of what you want to do, but rather |
| application, they won't be shocked or caught off | | | | than chasing someone for the sale, make them |
| guard. When they ask a question, re-state their | | | | ask you for it. Statements like, "I don't even |
| question. This does two things: it lets the potential | | | | know if you will qualify for this....why don't we fill |
| client know that you are listening to their | | | | out some of the medical questions to see if we |
| concerns, but it also restates to them what they | | | | should even move forward with underwriting." Or |
| have just said is their need. So, when the time | | | | if they balk at the initial deposit to open a college |
| comes for you to discuss possible solutions, such | | | | plan or annuity, try saying, "You know what? |
| as term insurance to cover the mortgage, or a | | | | Maybe you are right. This college plan doesn't |
| wrap-around disability income policy to substitute | | | | seem like the right fit to help you cover the cost |
| the rest of their income, then they cannot back | | | | of your children to go to any school they want |
| out and say that it isn't a concern. | | | | to....why don't you check out state savings plans |
| 3. Between 1 and 10 - This has got to be one of | | | | through the bank...I believe that enrollment period |
| the greatest closing lines ever. It is easy to do, | | | | starts in 6 more months". This gets the person |
| and it forces the potential client to sell themselves. | | | | thinking, "Well what is wrong with me? I want to |
| When you have finished your demonstration, you | | | | fit in, I want to belong." When you push |
| simply turn to your client and ask them, | | | | something, it moves away from you....when you |
| "Between 1 and 10...10 being 'I am ready to fill out | | | | pull the same item, it comes towards you. |
| the application and never worry about how my | | | | Another move you can make...if someone says |
| family will financially survive if something should | | | | that the premium is more than they want to |
| happen to me'...or 1 being 'I wish you would leave | | | | spend, you can always say, "you know what, |
| my house right now'....where do you fall? And no | | | | maybe you are right, but why don't we go ahead |
| matter what they tell you, you ALWAYS answer, | | | | and get you underwritten, see if you even qualify |
| "Really, a "#"? Why so high?" Even if they tell you | | | | for this low of a premium, as you could come |
| a "4"....you answer, "Really, a 4? I thought you | | | | back rated. Then once you are approved, then |
| would be a 3, you had your arms crossed and | | | | we can determine which policy will work best for |
| didn't seem interested in anything I was saying. | | | | you." |
| Why are you so high? What made you choose a | | | | It takes a little time to change your thinking, |
| 4?" | | | | especially when you are just starting out. But give |
| And then let them answer. Even with a low | | | | it some time, and practice these steps. You will |
| number, they will point out the features that they | | | | see clients becoming more attracted to you as a |
| liked. They will point out the solutions that worked | | | | professional. |