Prospecting Recommendation from a CEO Who Created $22B in Gross sales and Investments
Who ought to hear: Our visitor talks to monetary advisors, however anybody who’s new to prospecting for leads and constructing a ebook of enterprise will profit from listening to this week’s episode.
Key concept: When you think about how few instances you want somebody to say “Sure” so that you can succeed, rejection is nothing to concern.
Motion merchandise: Name the leads you haven’t reached out to but, and contact primarily based along with your present purchasers.
Phil Graham is a CEO and the creator of the life insurance coverage resolution Beneficiary Liquidity Plan™. His profession within the monetary providers and insurance coverage industries spans 20+ years, and, over these years, he and his group have created $22 billion in insurance coverage, annuity, and funding gross sales. In relation to prospecting for leads, Phil provides 4 items of recommendation to monetary advisors which are equally relevant to any skilled salesperson.
The primary is about studying to promote.
Phil’s first job discovered him sitting at a fold-out desk with little greater than a pencil, a pad of paper, an inventory of names, and a cellphone. Every single day, he made calls making an attempt to persuade monetary advisors to work with particular insurance coverage carriers. Critiques of his calls have been good, however—as he tells in his story—sooner or later a CEO of a significant insurance coverage provider was within the workplace and heard him on the cellphone.
You possibly can hearken to Phil inform the remainder of the story however, basically, in colourful language, that CEO advised him he wanted to cease pitching a product and begin telling a narrative.
You first have to ask questions to seek out out what your shopper wants and needs. Then inform them how your product satisfies these wants and needs. However don’t do it with a bunch of details. As an alternative, as Phil says, it’s essential “paint them an image” with phrases. Get them to have interaction along with your resolution to allow them to see how one can assist them.
The second is about discovering your excellent shopper.
Phil recollects one other lesson he discovered when he realized he needed to discover purchasers he was most succesful of serving finest and never essentially purchasers he wished to serve. Somewhat than pursue the purchasers with the deepest pockets, at this time he explains to advisors, “Somewhat than shoot an elephant with a BB gun, why not shoot a few hundred squirrels and make 1,000,000 {dollars}?”
In fact, all of us agree that while you’re first beginning out, you need to be keen to work with anybody not solely as a result of you’ve gotten payments to pay but additionally as a result of it’s how you’ll be taught the place your abilities shine.
The third is addressed to salespeople who resist making cellphone calls.
The best way Phil figures, if making a cellphone name isn’t going to kill you, however might, as an alternative, make you some huge cash, then why wouldn’t you do it? Rejection is just not one thing to take personally—particularly when one name in 100 might make a monetary advisor $100,000.
Phil comes from a time when there was no electronic mail or social media, and the Web was nonetheless new. Right this moment, he says, newer applied sciences allow salespeople to focus on their efforts extra intelligently, however he insists that it’s essential maintain cellphone calls part of the method. He asks, “How else do you get enterprise and generate income with out bodily speaking to somebody?”
The ultimate piece of recommendation is to group up with somebody with expertise.
Phil suggests {that a} monetary advisor discover themselves an skilled coach or mentor—somebody who has already figured stuff out. Such an individual can considerably reduce your studying curve, feed you leads, and probably groom you of their picture in order that they’ve somebody ready to take over the enterprise.
In fact, the dialog with Phil is way richer than the transient abstract introduced right here. We encourage you to hear and luxuriate in this episode. We’d additionally respect it if you happen to would give us a 5-star score and go away a assessment on Apple Podcasts. (Unsure learn how to go away a assessment? Click on right here.)
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
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