Client-Focused Selling: The Key to Selling Annuities
Client-Focused Selling
If you are going to make a sale in today’s world, there is only one principle that you should always stick with: good customer service. Nobody would like to buy something from an unprofessional and unaware seller. That is why it is important to build a client-focused approach to selling.
It is imperative, both ethically and financially, for a financial advisor to work towards the satisfaction of his prospect or client. He must therefore understand what they need and want and start from there. Consultative planning or selling is a good strategy to use in building good relationships with clients.
Consultative planning is the process of gathering information about the prospect (their needs, wants, goals, interests, assents and plans among others), putting them together, and creating a single plan that will best meet the prospect’s satisfaction. Financial advisors should attack this by listening and analyzing the information that they have generated. Then, they should translate these to find the best product and service that their client needs.
Steps in Consultative Planning:
Successfully selling annuities require a step by step procedure. You will have to do a preliminary planning by assessing your resources at hand. You will then begin to start your planning tailor-made to your prospect’s needs. Lastly, you will need to put your plan into action and try to build a lasting relationship with your client. Here are the more detailed steps in a client-focused selling:
1. Find the right prospects. A right prospect is someone who has a potential to do business with you and has the financial means to do so.
2. Approach your prospects. Set up an appointment with your prospects.
3. Meet your prospects and gather information about them. Make a good impression and ask related questions that you will need.
4. Analyze the information you have gathered. Look at what will work and what will not for your prospect.
5. Establish your custom-made goals for your prospect. Organize your analysis and create a goal to meet your prospect’s need.
6. Create an implementation plan that will best meet your prospect’s needs. Make your plan focusing on the goal you have set. Remember to get your prospect’s approval before implementing your plan.
7. Implement your plan or suggest courses of action. Put your plan into action. Guide your client if there are requirements.
8. Build good client-advisor relationship through good service. Always give the best service you can. Continuously guide your client through the contract term and offer them new plans that will both benefit you and your client.
You can also employ a reliable company to sell your annuity plans for you. This is the most convenient and easiest way to sell annuities. This is because these companies have the necessary sources and experiences to make good sales. Make sure though that you hire a reliable (preferably reputable) third party can assure you that your annuities will reap maximum benefits when sold.
But of course, there is a downside to it. You will have to pay them fees thus, not getting the whole profit of the sale.
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