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March 2009
Sales Idea: Everybody Tells You What To Do
Don’t tell me what to do. I just got an industry newsletter telling me to take advantage of what will turn out to be, in retrospect, one of the greatest buying opportunities ever. I was told to call my clients right away. I got one the other day telling me that this time things were not different and I should act accordingly. I was told to call my clients right away. I got yet another one last week warning me to beware of what will turn out to be a trap for the bulls. I was told to call my clients right away.
Tell me how to do it. It’s occurred to me that you are reading the same newsletters and periodicals that I am reading. It also occurred to me that everyone is telling you what to do and nobody is telling you how to do it. There seems to be a built-in assumption by people giving us good advice that we know how to carry out their advice. They assume we don’t need the “how” part of the equation.
I’ve got a buddy who is one of the brightest and most successful people in our industry. Twenty years ago he was a recent graduate of Georgetown and a phone rep at a major mutual fund company. He approached me one day back then and asked if he could get some advice. He said that the president of the sales company at his firm ended every meeting by telling his staff members and phone reps to ask for the order. His supervisor also said the same thing over and over. His question to me was at first shocking. “How do I ask for the order?” I assumed he knew how to do that. Apparently, everyone else did too. He didn’t. He needed the “how.”
We all need the “how.” How, for instance, do we engage our clients and prospects in a meaningful conversation after months and even years of disillusionment? How do we broach the subject of investing with someone who has been hearing “Just hang in there” since the Dow was 14,000? How do we sound credible when our credibility has been stretched to the limit? How do we respond when our success and the financial success of our clients is dependent on the market going up slowly and steadily, not down like a falling star? What’s our value proposition as we stand in the smoldering ruins? It’s not easy in this day and age to engage people in conversations about the stock market. Give me a script!
Three conversations to have. As I talk to investors, both here and abroad, three areas of concern keep coming up. I know they are worried and I know they are looking for guidance. And I know that therein lies the “how” part.
So here are three conversations you can have today with any prospect, anywhere in the world. And I want to leave you with a sales idea that is a natural segue from any of these conversations.
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