For most financial planning businesses "opt in" means you will need to change systems, processes, methodologies and the philosophy of how you do business. To do that you need to bring the people in your business along the journey and you need to have something to implement that maximises the possibility of opt in success.
This is an organisational change process. And it is a process that needs to be specific to financial planning where the critical factor affecting success is relationships.
Rather than approaching this traditionally with problem - solving change management protocols an approach of appreciative inquiry seems to dove tail into financial planning businesses.
This approach reframes relationships around what is positive and what is possible.
It is representative of positive organisational behaviour - where the people in the business focus on positive aspects and in so doing improve business and personal success and subjectve well being as a consequence.
The beauty of this for financial planning businesses contemplating an opt in world is that the process you can use to re-create your business can also be directly applied (with the help of tools from Positive Client Engagement) when working with your clients.
There is a "four D" model for this process.
Discovery, dreaming, designing, delivering.
Discovery
- identify positive elements of your business
- document and create stories about positive client outcomes you have created
- interview your staff about what drives them in serving clients
- interview successful businesses that you know of - perhaps in the same AFSL as you and discover the strengths of these businesses
- look to sources of research on businesses - eg: The groundbreaking Asteron Life 2 year study on the 7 best practices adopted by businesses who have successfully tapped into the intergenerational opportunity
Dreaming
- gather your staff and have a vision coaching session where you imagine the possibilities and what you would deliver to clients in the ideal business
- remember it's a hypothetical business so feel free to fearlessly design a cutting edge business without barriers
Designing
- also involves your staff and now you shape the dream into what becomes a common and shared image of what can be for your business - and it shifts focus back to the day to day roles and how such a model would be implemented
Delivering
- set specific tasks, objectives, directions, time frames, resources for the agreed upon model
What does the ideal business look like? And how do you apply the same model to clients?
The ideal business discovers what a client sees as positive elements of their life and in so doing provides motivations to overcome the negative aspects of their financial world.
The ideal business tells stories about success they have had with similar clients and uses the concept of social proof to de-mystify the process of financial planning.
The ideal business writes white papers that research the areas of the businesses expertise that are a demonstration of ability, empathy and experience to your clients and prospects.
The ideal business has a process for assisting a client to dream what is possible in their financial world and imagine possibilities unlimited by past experiences or current circumstances.
The ideal business takes a palpable stake in the clients vision and designs the success plan as a shared image of what is possible clearly identifying the role the business plays in the outcomes and the journey.
The ideal business delivers the direction, objectives and plan in a way that is meaningful and relevant for the client and is achieveable, measurable and timely.
The ideal business engages it's clients positively, uses tools such as a Positive Client Engagement Lifestyle Questionnaire (c) and the Positive Client Engagement Wealth Management Index (c).
So let go of your structured norms and change your mindset. Investigate the positive possibilities and have queues of advocates opting in to your financial planning business.
Saturday, 25 February 2012
Thursday, 23 February 2012
Transformational Leadership For Your Clients and Your Staff
According to McShane and Travaglione, (2008) transformational leaders are agents of change that create, communicate and model a shared vision and inspire followers to strive for that vision.
In a financial planning business, long term success at delivering best of breed services to clients and creating a client base of advocates is predicated on the ability of the principal adviser to lead in a transformational manner.
Successful financial planning businesses not only take their clients on a journey that creates for the clients a vision that they strive towards but they also enable their staff to support their clients vision.
The four elements of transformational leadership as described by McShane and Travaglione are applicable to not only the financial planning and insurance process but also to building your financial planning and insurance business by developing your staff.
- Create a strategic vision
- Communicate the vision
- Model the vision
- Build committment towards the vision
Vision coaching with clients then become your first appointment process not just a fact find.
Vision coaching with your staff means you involve your staff in shaping your financial planning and insurance business client value proposition.
Communicating the vision is key. A topic for next time.
In a financial planning business, long term success at delivering best of breed services to clients and creating a client base of advocates is predicated on the ability of the principal adviser to lead in a transformational manner.
Successful financial planning businesses not only take their clients on a journey that creates for the clients a vision that they strive towards but they also enable their staff to support their clients vision.
The four elements of transformational leadership as described by McShane and Travaglione are applicable to not only the financial planning and insurance process but also to building your financial planning and insurance business by developing your staff.
- Create a strategic vision
- Communicate the vision
- Model the vision
- Build committment towards the vision
Vision coaching with clients then become your first appointment process not just a fact find.
Vision coaching with your staff means you involve your staff in shaping your financial planning and insurance business client value proposition.
Communicating the vision is key. A topic for next time.
Wednesday, 22 February 2012
Invaluable Consumer Insights - "How we'd like our financial adviser to engage"
So if you've been a reader of our posts you may be thinking these writings are a bit left of centre, that you have a process for engaging clients in your financial services, financial planning, insurance business and it works just fine.
That's great!
So I need to ask you something.
Can you self assess your process against the following wants of clients?
Recently we conducted some focus groups with consumers on a range of brand recognition issues(in respect to financial services companies) and engagement perceptions by insurance advisers and financial planners.
We found brand recognition high for the 2 major players in the domestic market in respect to the fact that these two AMP and MLC were immediately associated with financial advice. Product recognition was high for BT and Colonial First State but the associated financial planning groups were not recognised.
The major banks had a high degree of recognition for lending services but low recognition with financial advice and the perceived quality of that advice.
In regard to engagement this is what the consumers said they wanted:
- "I want an adviser that shows they are interested in my situation and what I need"
- "I want to understand how what products they recommend are actually going to make a difference to my family"
- " I do not want off the shelf advice, I want it personalised"
- I want the adviser to know what is important to me, before they give me advice" - " I want them to know me, not just my financials"
- "If they can't connect the strategy to my life goals, then I think they miss the point"
- "I feel like I'm being sold something that's standard I don't understand how it's for me"
- "I don't care about generic newsletters in a service offer, I want something that is relevant to me"
- "I got some advice, I couldn't understand it, the report was 100 pages long, it was just a computer programme with my name on the front. Then they asked me to refer family and friends, they are kidding themselves"
-"My mortgage guy knows more about me and my family than my adviser ever could. The guy who did my loans has been to my house, he knows how I live and what sort of people we are"
So, how much do you know about your clients? How relevant and meaningful are your recommendations? What does you advice - written reports - statements of advice - look like, read like?
Still comfortable with your process?
That's great!
So I need to ask you something.
Can you self assess your process against the following wants of clients?
Recently we conducted some focus groups with consumers on a range of brand recognition issues(in respect to financial services companies) and engagement perceptions by insurance advisers and financial planners.
We found brand recognition high for the 2 major players in the domestic market in respect to the fact that these two AMP and MLC were immediately associated with financial advice. Product recognition was high for BT and Colonial First State but the associated financial planning groups were not recognised.
The major banks had a high degree of recognition for lending services but low recognition with financial advice and the perceived quality of that advice.
In regard to engagement this is what the consumers said they wanted:
- "I want an adviser that shows they are interested in my situation and what I need"
- "I want to understand how what products they recommend are actually going to make a difference to my family"
- " I do not want off the shelf advice, I want it personalised"
- I want the adviser to know what is important to me, before they give me advice" - " I want them to know me, not just my financials"
- "If they can't connect the strategy to my life goals, then I think they miss the point"
- "I feel like I'm being sold something that's standard I don't understand how it's for me"
- "I don't care about generic newsletters in a service offer, I want something that is relevant to me"
- "I got some advice, I couldn't understand it, the report was 100 pages long, it was just a computer programme with my name on the front. Then they asked me to refer family and friends, they are kidding themselves"
-"My mortgage guy knows more about me and my family than my adviser ever could. The guy who did my loans has been to my house, he knows how I live and what sort of people we are"
So, how much do you know about your clients? How relevant and meaningful are your recommendations? What does you advice - written reports - statements of advice - look like, read like?
Still comfortable with your process?
Saturday, 18 February 2012
Connecting with Your Clients
Some of the final check points you should be able to tick of in your client pitch involves the ability to have your client say of the interaction that you " understand them" and "answered all of my concerns".
You can only do this if you do actually understand your client, how they feel about issues facing them and then can speak with them about what it is that they truly care about.
Most financial strategy solution pitches do not resonate and cut through the audience as they are delivered in a sequential agenda driven format.
You only need to attend a presentation from an investment house to understand this. The summary is flashed before you and the speaker however articulate moves through the topics in sadly most cases without capturing the attention and recruiting the passions of the audience.
You financial strategy and insurance solution pitches face the same problems because of the way we have been taught to write and present them.
The best method of delivery encompasses:
- providing a structure without the formal method
This means it needs to be personal.
In her book "Say It Like Obama and Win", Shel Leanne, writes of the method employed to speak to the needs of people.
Recognises, Remembers, Responsive.
She emphasises that listeners want to hear that the presenter realises the issues they are facing, references those issues and is responsive to thoe issues.
By connecting your sales pitch in this way, you are able to not only demonstrate that you understand, but you transcend further your competitors by illustrating that you care.
Taking this a step further involves you demonstrating that not only have you tailored your solutions for the specific concerns of the client in front of you but that you also have experience dealing with the same situations either yourself (in you family - revisit the family tree conversation) or with other clients.
This shows the client that you "have been there yourself" or you "really get" the client through your experiences.
This is far more powerful than you brochure on all of your technical experise and the credentials on your wall.
Next time we'll look at the use of imagery in closing your pitch.
You can only do this if you do actually understand your client, how they feel about issues facing them and then can speak with them about what it is that they truly care about.
Most financial strategy solution pitches do not resonate and cut through the audience as they are delivered in a sequential agenda driven format.
You only need to attend a presentation from an investment house to understand this. The summary is flashed before you and the speaker however articulate moves through the topics in sadly most cases without capturing the attention and recruiting the passions of the audience.
You financial strategy and insurance solution pitches face the same problems because of the way we have been taught to write and present them.
The best method of delivery encompasses:
- providing a structure without the formal method
This means it needs to be personal.
In her book "Say It Like Obama and Win", Shel Leanne, writes of the method employed to speak to the needs of people.
Recognises, Remembers, Responsive.
She emphasises that listeners want to hear that the presenter realises the issues they are facing, references those issues and is responsive to thoe issues.
By connecting your sales pitch in this way, you are able to not only demonstrate that you understand, but you transcend further your competitors by illustrating that you care.
Taking this a step further involves you demonstrating that not only have you tailored your solutions for the specific concerns of the client in front of you but that you also have experience dealing with the same situations either yourself (in you family - revisit the family tree conversation) or with other clients.
This shows the client that you "have been there yourself" or you "really get" the client through your experiences.
This is far more powerful than you brochure on all of your technical experise and the credentials on your wall.
Next time we'll look at the use of imagery in closing your pitch.
Tuesday, 14 February 2012
Passion, Flow and Meaningfulness - Your Business Plan for 2012
We've taken a deviation from the latest series of topics (which have been focussed on sales pitches and presentations using the engagement techniques we've promoted).
The reason is that there are no techniques, no presentations, no silver bullet to sales, and the development of your small business in the professional insurance, financial planning and financial services space if you do not have the motivation and well-being suited to managing your work efforts and direction.
Richard Sisely, New Zealand Journal of Employment Relations, 35(2), 28-40, looked at the issue of motivation and the facilitation of autonomous motivation and its impact on well being.
Sisley wrote that intrinsic motivation had a high connection with relationships built on trust, empathy and stability.
Hang on a second. Isn't that what you are trying achieve as a professional financial planner and insurance adviser?
Tell me more!!
Sisely also then expanded and suggested that striving for self-determined goals (such as your plans for 2012 in your business) is connected with well-being and a determinant of a daily positive mood.
I'm liking the sound of this especially in the current economic climate!
Because this has implications for your business and in turn your clients.
First in your business this has implications for staff selection and for the assignment of roles/tasks in your business.
If you've read the E -Myth, or done a sticky note exercise where you look at all the tasks in your business and who does them.....and who should be doing them...then you understand where this is heading.
You need with these tasks as Sisely describes to assign a value identification with them. You need to take your staff on the journey of the validity of the task and the impact on the client.
This leads to better client engagement and outcomes.
What about you and your motivation and your passion?
Passion according to Sisley has a correlation with work satisfaction, well-being, and less stress.
Passion is critical. What in 2012 are you passionate about? Share it. Document it. Write it on a wall (or whiteboard). Share it with your clients. Make yourself accountable to your passion.
Flow, or the optimal experience (read effectiveness and efficiency) brings with it positive moods. You are far more likely to take on those tasks that you already have attached validity to and that are assigned correctly when your passion is driving you. It's that feeling of, well for want of a better word....flowing.
Meaningfulness. My favourite of Sisely's writings, meaningfulness depends on your own values and that also means having a high enough emotional intelligence quotient that you can respect others values. EI is that ability to not only be aware of your own feelings and emotions but to then use that information to guide your actions (Hur et al, 2011).
And that's where a transformational leader can create a service climate of exceptional quality.
It is a palpable feeling that you get when you walk into a business that delivers excellence in the customer experience.
Can you learn EI? Yes there are courses. Maybe you can improve. It is said it improves with age...so you can wait I guess.
But if EI houses the qualities of empathy, motivation, self-awareness, trust, emotional stability and these are all qualities of a transformational leader then there is one thing you need to do.
Get up, walk to the mirror and ask yourself a few questions.
- what are you passionate about?
- are you ready to share that passion?
- what are your values?
- do you live them?
- what are the values of the people around you?
- do you know - do you ask them?
- do you act in a way that is true to your values?
- what can you do daily to develop empathy, motivation, self-awareness, trust, emotional stability
But most of all - get passionate!
Back to the presentation pitches next time
The reason is that there are no techniques, no presentations, no silver bullet to sales, and the development of your small business in the professional insurance, financial planning and financial services space if you do not have the motivation and well-being suited to managing your work efforts and direction.
Richard Sisely, New Zealand Journal of Employment Relations, 35(2), 28-40, looked at the issue of motivation and the facilitation of autonomous motivation and its impact on well being.
Sisley wrote that intrinsic motivation had a high connection with relationships built on trust, empathy and stability.
Hang on a second. Isn't that what you are trying achieve as a professional financial planner and insurance adviser?
Tell me more!!
Sisely also then expanded and suggested that striving for self-determined goals (such as your plans for 2012 in your business) is connected with well-being and a determinant of a daily positive mood.
I'm liking the sound of this especially in the current economic climate!
Because this has implications for your business and in turn your clients.
First in your business this has implications for staff selection and for the assignment of roles/tasks in your business.
If you've read the E -Myth, or done a sticky note exercise where you look at all the tasks in your business and who does them.....and who should be doing them...then you understand where this is heading.
You need with these tasks as Sisely describes to assign a value identification with them. You need to take your staff on the journey of the validity of the task and the impact on the client.
This leads to better client engagement and outcomes.
What about you and your motivation and your passion?
Passion according to Sisley has a correlation with work satisfaction, well-being, and less stress.
Passion is critical. What in 2012 are you passionate about? Share it. Document it. Write it on a wall (or whiteboard). Share it with your clients. Make yourself accountable to your passion.
Flow, or the optimal experience (read effectiveness and efficiency) brings with it positive moods. You are far more likely to take on those tasks that you already have attached validity to and that are assigned correctly when your passion is driving you. It's that feeling of, well for want of a better word....flowing.
Meaningfulness. My favourite of Sisely's writings, meaningfulness depends on your own values and that also means having a high enough emotional intelligence quotient that you can respect others values. EI is that ability to not only be aware of your own feelings and emotions but to then use that information to guide your actions (Hur et al, 2011).
And that's where a transformational leader can create a service climate of exceptional quality.
It is a palpable feeling that you get when you walk into a business that delivers excellence in the customer experience.
Can you learn EI? Yes there are courses. Maybe you can improve. It is said it improves with age...so you can wait I guess.
But if EI houses the qualities of empathy, motivation, self-awareness, trust, emotional stability and these are all qualities of a transformational leader then there is one thing you need to do.
Get up, walk to the mirror and ask yourself a few questions.
- what are you passionate about?
- are you ready to share that passion?
- what are your values?
- do you live them?
- what are the values of the people around you?
- do you know - do you ask them?
- do you act in a way that is true to your values?
- what can you do daily to develop empathy, motivation, self-awareness, trust, emotional stability
But most of all - get passionate!
Back to the presentation pitches next time
Saturday, 11 February 2012
Laying the Ground For The Perfect Sales Pitch
The perfect sales pitch delivery doesn't happen on the day of the pitch. The fertile ground that is sown during the initial discovery meetings with your clients AND how exactly you sow that seed will determine your success.
In fiancial planning and insurance sales this involves you as the professional adviser enaging the client on:
- areas of discomfort for a client and doing this early in the engagement process removes/reduced barriers to change
- sharing commonalities, shared experiences, shared values and aspirations
- winning their heart and mind by showing that you understand their point of view AND that you have had experience dealing with the situations they face
THIS IS NOT THE TIME to share with them a diatribe on your education, experience and your financial services guide. (We expect of course there is some compliance requirement that has been met appropriately).
THIS IS THE TIME TO:
- question them on why they have not taken action before
- their experiences with the provision of advice
- sharing your story with them about what you have done to insure and plan for your family
- what experiences your other clients have had and NOT how you dealt with and provided solutions BUT rather how they felt when the solution you crafted was put in place
You NEED THEREFORE
- to adopt the techniques described in how to use the family tree technique
- to tell your own story
- to tell compelling client stories - insurance claims are key here
- to engage them on values
- to verbally acknowledge the barriers they may have and respect them
A well crafted client questionnaire such as those now available from Positive Client Engagement will be a success guide and tool for you and an assessment for a client that can lead with your help to outcomes that are transformational.
In fiancial planning and insurance sales this involves you as the professional adviser enaging the client on:
- areas of discomfort for a client and doing this early in the engagement process removes/reduced barriers to change
- sharing commonalities, shared experiences, shared values and aspirations
- winning their heart and mind by showing that you understand their point of view AND that you have had experience dealing with the situations they face
THIS IS NOT THE TIME to share with them a diatribe on your education, experience and your financial services guide. (We expect of course there is some compliance requirement that has been met appropriately).
THIS IS THE TIME TO:
- question them on why they have not taken action before
- their experiences with the provision of advice
- sharing your story with them about what you have done to insure and plan for your family
- what experiences your other clients have had and NOT how you dealt with and provided solutions BUT rather how they felt when the solution you crafted was put in place
You NEED THEREFORE
- to adopt the techniques described in how to use the family tree technique
- to tell your own story
- to tell compelling client stories - insurance claims are key here
- to engage them on values
- to verbally acknowledge the barriers they may have and respect them
A well crafted client questionnaire such as those now available from Positive Client Engagement will be a success guide and tool for you and an assessment for a client that can lead with your help to outcomes that are transformational.
Wednesday, 8 February 2012
The Power Pitch - Succeeding at Sales Presentations
When we talk about financial planning and insurance sales presentations to clients we are typically talking about the formal required presentation piece called the Statement of Advice (the proposal, the recommendation, the strategy paper - people use different terminology around the world).
Unfortunately the Statement of Advice is a device that protects the adviser AND the consumer. In simple terms it should contain a description of why the client came to see the adviser, what the adviser did to research the clients needs, what the adviser recommends to meet those needs and finally how it relates to the reason the client came to see them in the first place.
It's a process document. And importantly it needs to be tailored not only to the licence requirements and pre-requistes that the adviser needs to follow in accordance with the type of advice given, it needs to be in a format that a reasonable person could understand.
IT IS NOT A SALES PRESENTATION DOCUMENT.
So after all the client engagement and reciprocity of information on values and beliefs, it's incredulous that we try and "close" the sale with the finest recommendations that can make a positive difference in a clients life with a document that does not speak the clients language and is presented in a style that is highly likely not to be the preferred mode of communication for the client.
Is it any wonder they take their lengthy document with them, a little disappointed in their demeanor and say "we need to think about it".
So what to do?
This is a pitch! So treat it like one. Actually do a presentation in line with the preferred communication style of the client - make it visual, give them visuals and collateral to handle during the presentation. Make them part of the presentation - give them a script that is part of the presentation and involve them!
In your SOA use flow charts and print them out separately and give them to the client. Laminate them - they will be posted on the clients fridge as the map of the choices they have affirmed with your help. They will be on the back door of the pantry in case of emergency. Put your logo and contacts numbers on them so that you will be the first person called when they need your help the most.
Put these in your SOA. Remember do this in addition to the SOA in a cover letter, in a visual slide show and in words. Three ways of communicating the same message. Punctuate your Statement of Advice with bold double font quotes from the client lifestyle questionnaire as the "sub-headings" for each relevant recommendation. Triple the font!! Make the SOA speak their language so they can see the connection between the strategy and their dreams.
And the killer slide, or page in the SOA or additional laminated page......."if you remember nothing else from our presentation remember this......our recommendation is designed to maximise the possibility of you living well and looking after your family and the people you love...including yourself"
We are assuming that your have had the discussion with them about what living well means to them and who it is that they love.
If you have then expect them to say yes, to put in place a relationship with you that will positively transform their lives, the lives of the people that they hold dear .....and your life as well.
Till next time.
Unfortunately the Statement of Advice is a device that protects the adviser AND the consumer. In simple terms it should contain a description of why the client came to see the adviser, what the adviser did to research the clients needs, what the adviser recommends to meet those needs and finally how it relates to the reason the client came to see them in the first place.
It's a process document. And importantly it needs to be tailored not only to the licence requirements and pre-requistes that the adviser needs to follow in accordance with the type of advice given, it needs to be in a format that a reasonable person could understand.
IT IS NOT A SALES PRESENTATION DOCUMENT.
So after all the client engagement and reciprocity of information on values and beliefs, it's incredulous that we try and "close" the sale with the finest recommendations that can make a positive difference in a clients life with a document that does not speak the clients language and is presented in a style that is highly likely not to be the preferred mode of communication for the client.
Is it any wonder they take their lengthy document with them, a little disappointed in their demeanor and say "we need to think about it".
So what to do?
This is a pitch! So treat it like one. Actually do a presentation in line with the preferred communication style of the client - make it visual, give them visuals and collateral to handle during the presentation. Make them part of the presentation - give them a script that is part of the presentation and involve them!
In your SOA use flow charts and print them out separately and give them to the client. Laminate them - they will be posted on the clients fridge as the map of the choices they have affirmed with your help. They will be on the back door of the pantry in case of emergency. Put your logo and contacts numbers on them so that you will be the first person called when they need your help the most.
Put these in your SOA. Remember do this in addition to the SOA in a cover letter, in a visual slide show and in words. Three ways of communicating the same message. Punctuate your Statement of Advice with bold double font quotes from the client lifestyle questionnaire as the "sub-headings" for each relevant recommendation. Triple the font!! Make the SOA speak their language so they can see the connection between the strategy and their dreams.
And the killer slide, or page in the SOA or additional laminated page......."if you remember nothing else from our presentation remember this......our recommendation is designed to maximise the possibility of you living well and looking after your family and the people you love...including yourself"
We are assuming that your have had the discussion with them about what living well means to them and who it is that they love.
If you have then expect them to say yes, to put in place a relationship with you that will positively transform their lives, the lives of the people that they hold dear .....and your life as well.
Till next time.
Sunday, 5 February 2012
The Power of Referrals - Great Sales Techniques
We promised that this edition would look at a power slide for presentations and keeping it simple.
Well, that will be the next edition, but we had to make comment about an event that happened today.
And no that's not the superbowl, although we are very very happy Giants fans right now!!!
It was the opportunity to present today to a group of about 50 financial advisers about positive client engagement techniques including our lifestyle questionnaire and wealth index.
We were fortunate to be the presenter after Greg Ritchie and industry legend who talked about centre of influence referral generation and relationships.
We hope the message was not lost on our audience. Greg talked about those basic client and relationship building techniques and importantly the positive change in peoples life that the right advice - especially risk insurance can make. As Greg put it - risk insurance provides money when people need it the most so they can make choices when they are at their most vulnerable.
hats of Greg and cheers to the audience today. We look forward to our interactions as you positively engage your clients!
Well, that will be the next edition, but we had to make comment about an event that happened today.
And no that's not the superbowl, although we are very very happy Giants fans right now!!!
It was the opportunity to present today to a group of about 50 financial advisers about positive client engagement techniques including our lifestyle questionnaire and wealth index.
We were fortunate to be the presenter after Greg Ritchie and industry legend who talked about centre of influence referral generation and relationships.
We hope the message was not lost on our audience. Greg talked about those basic client and relationship building techniques and importantly the positive change in peoples life that the right advice - especially risk insurance can make. As Greg put it - risk insurance provides money when people need it the most so they can make choices when they are at their most vulnerable.
hats of Greg and cheers to the audience today. We look forward to our interactions as you positively engage your clients!
Friday, 3 February 2012
Writing a Great Sales Pitch - Statements of Advice written by your client
So last time we promised that the next step was to discuss what to say in your sales presentation and importantly how to say it.
Well it's a little more involved than that BUT it's paradoxically simple.
Great sales presentations in financial planning and insurance do not depend on being a great presenter. Rather you need to have a great presentation as a base.
This point should instantly ease the minds of those insurance and financial planning professionals who HATE "presenting".
Even a poor presenter can make a few lines from Shakespeare sound good. Who couldn't?
It's the content of your pitch that is critical.
This means it's the right story for the client to hear and see. Using the right words that will resonate with the client. It's about using their words - the very words they've used when answering your lifestyle questionnaire. By doing that you capture the emotion of the core motivating drivers that are in play for the client.
So what's the lesson here when writing your pitch:
1) Use the clients words to show that you appreciate and respect thier values and dreams
2) Connect your financial planning and insurance solution to those values and dreams
3) Do it with a mix of visual, audio and text content
4) Describe it in broad terms
5) Make sure that what you are saying has a structure around it
6) Make sure that you repeat the core essence of the outcomes of your recommendations over and over and over and over again throughout your presentation
Do this in a cover letter, in a visual slide show and in words. Three ways of communicating the same message. Punctuate your Statement of Advice with bold double font quotes from the client lifestyle questionnaire as the "sub-headings" for each relevant recommendation.
The Statement of Advice will then be transformed from a document that is disconnected financial planning jargon to a document that is signposted with the clients words, thoughts, hopes, dreams and ambitions.
It will become a document that they have immense ownership of and when you own something .....you protect it.
In otherwords - they become your client and your advocate.
Next Time:
- keeping it simple
- and the power slide/page in your pitch
Well it's a little more involved than that BUT it's paradoxically simple.
Great sales presentations in financial planning and insurance do not depend on being a great presenter. Rather you need to have a great presentation as a base.
This point should instantly ease the minds of those insurance and financial planning professionals who HATE "presenting".
Even a poor presenter can make a few lines from Shakespeare sound good. Who couldn't?
It's the content of your pitch that is critical.
This means it's the right story for the client to hear and see. Using the right words that will resonate with the client. It's about using their words - the very words they've used when answering your lifestyle questionnaire. By doing that you capture the emotion of the core motivating drivers that are in play for the client.
So what's the lesson here when writing your pitch:
1) Use the clients words to show that you appreciate and respect thier values and dreams
2) Connect your financial planning and insurance solution to those values and dreams
3) Do it with a mix of visual, audio and text content
4) Describe it in broad terms
5) Make sure that what you are saying has a structure around it
6) Make sure that you repeat the core essence of the outcomes of your recommendations over and over and over and over again throughout your presentation
Do this in a cover letter, in a visual slide show and in words. Three ways of communicating the same message. Punctuate your Statement of Advice with bold double font quotes from the client lifestyle questionnaire as the "sub-headings" for each relevant recommendation.
The Statement of Advice will then be transformed from a document that is disconnected financial planning jargon to a document that is signposted with the clients words, thoughts, hopes, dreams and ambitions.
It will become a document that they have immense ownership of and when you own something .....you protect it.
In otherwords - they become your client and your advocate.
Next Time:
- keeping it simple
- and the power slide/page in your pitch
Thursday, 2 February 2012
Sales Presentations That Win!
We hope you've started 2012 ready to embrace the opportunity that awaits those financial planning and insurance businesses that have developed the capabilities to positively engage clients with depth relevance and meaning.
That means you'd be familiar with the concepts around client engagement that are regular features of our writings:
- using smart questionnaires that embed communication models within them
- you have a great story
- you use a family tree in your dicussions with clients
And most of all you have developed capabilities in your business to engage the client throughout the buying process and made the financial planning and insurance strategies, relevant by using techniques that ensure the client projects and assesses the future and can see what your strategy looks, feels, even sounds like to them, thus providing compelling reasons for action.
Now you just need to make your final pitch.
In the financial planning and insurance business - you need to present your Statement of Advice.
The next phase of our writings in the coming months will be focussed on making sales presentations.
A good reference for anyone making any sort of presentation is a wonderfully engaging book by Stephen Bayley and Roger Mavity - "Life's a Pitch: How to Sell Yourself and Your Brilliant Ideas" (2008).
As Bayley and Mavity point out, "when you are pitching to someone, you're asking them to judge the future.....their judgement won't be based on logical fctors, but on emotional factors, trust, confidence, hope, ambition, desire".
In the financial planning and insurance world this point is incredibly relevant.
If you have not engaged clients for example with an understanding of the four drive theory - then you have not engaged your client with emotion, trust, you have not inspired confidence, demonstrated the ability to deliver hope and the ambitions and desires they have.
Your sales pitch is doomed.
Re-read our previous articles for help if you have no idea what we're talking about at this point!!!
Next time we'll look at what it takes and how to write a great presentation and over the coming weeks, we'll discover:
- what to say and how to say it
- keeping things simple
- the power "slide"
- where to put your executive summary
- the power of practice
- language that resonates, is remembered and illicits a response
That means you'd be familiar with the concepts around client engagement that are regular features of our writings:
- using smart questionnaires that embed communication models within them
- you have a great story
- you use a family tree in your dicussions with clients
And most of all you have developed capabilities in your business to engage the client throughout the buying process and made the financial planning and insurance strategies, relevant by using techniques that ensure the client projects and assesses the future and can see what your strategy looks, feels, even sounds like to them, thus providing compelling reasons for action.
Now you just need to make your final pitch.
In the financial planning and insurance business - you need to present your Statement of Advice.
The next phase of our writings in the coming months will be focussed on making sales presentations.
A good reference for anyone making any sort of presentation is a wonderfully engaging book by Stephen Bayley and Roger Mavity - "Life's a Pitch: How to Sell Yourself and Your Brilliant Ideas" (2008).
As Bayley and Mavity point out, "when you are pitching to someone, you're asking them to judge the future.....their judgement won't be based on logical fctors, but on emotional factors, trust, confidence, hope, ambition, desire".
In the financial planning and insurance world this point is incredibly relevant.
If you have not engaged clients for example with an understanding of the four drive theory - then you have not engaged your client with emotion, trust, you have not inspired confidence, demonstrated the ability to deliver hope and the ambitions and desires they have.
Your sales pitch is doomed.
Re-read our previous articles for help if you have no idea what we're talking about at this point!!!
Next time we'll look at what it takes and how to write a great presentation and over the coming weeks, we'll discover:
- what to say and how to say it
- keeping things simple
- the power "slide"
- where to put your executive summary
- the power of practice
- language that resonates, is remembered and illicits a response
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