We’re officially over half way! I hope you’ve been enjoying the 6 keys to high performance financial services email series so far. Now onto Key #4 – increasing conversions.
Let’s face it, it doesn’t matter how many leads you are getting or meetings you are having, if you aren’t converting sales, you are wasting your time.
While many factors can influence your conversion rates, there are some areas of selling, which if mastered can help you significantly increase your conversions.
The good news is that you’ve already been working on two of them – having more meaningful conversations and creating consistent client experiences. But if you are serious about increasing your conversion rates this is only the beginning. Here are some of the other tips I share with my clients.
Build powerful relationships
Take time to build rapport. Find out about their family, what they enjoy and what they’re working towards, where possible try to discover what you have in common. I truly believe that people do business with you because they like you and trust you.
Building powerful relationships now that will take you into the future.
Serve not sell
Your purpose going into a client meeting should be to serve your client, not convert a sale. This approach will naturally put your clients at ease and help you to build faster trust and rapport with them.
It will also result in more meaningful conversations with the opportunity to cross-sell and upsell. The moment clients think you’re only interested in the money and not them is the moment you lose the sale and dare I say it reconsider why you do what you do.
Know the problem you solve
People don’t buy life insurance; they buy peace of mind and financial security for their loved ones. How are you articulating this to your clients? I often find Financial Planners don’t go deep into the emotional needs of a client because they feel like they are prying, however the deeper you go the more you connect with your clients on an emotional level and when you connect on an emotional level you build trust and rapport that goes far beyond a normal sales conversation.
Set aside some time to list off all the areas you help your current and existing clients with. When you can clearly and confidently articulate that to your clients it will be the fastest way to build trust and show your potential clients that you understand where they are coming from and what is important to them.
Identify what’s important to your clients
While you need to know all of the problems you solve, not all will be relevant to the potential client sitting in front of you. To do a personalised sales pitch, you need to be able to identify what issues or problems are important to them.
How do you do that? By listening. Then by asking emotional questions that will help you uncover their goals and motivations. Then listening again. Don’t be rushed or distracted by the next question; it’s important to stay present through this process. It can be very easy to miss small clues if you aren’t listening attentively.
Now that you have some tips to implement to increase your conversions – what about the clients already on your books, how do you make them more profitable? Key #5 will address this very question!
What strategy could you focus on to start increasing your conversions?
If you or your business are looking to increase conversions, please contact us at Performance Advisory Group.