5 Reasons Why Prospects Will Hire You Over The Competition
People won’t decide to do business with you because of your products, expertise, experience or reputation. These attributes (whilst important) will not ultimately convert prospects into loyal clients. Your hard skills won’t provide them with a compelling enough reason to hire you over the competition.
If you want to impress prospects, you need to demonstrate that you are not only smart, but that you are likeable and trustworthy.
Here are five reasons why a prospect will hire you over the competition.
1. Show prospects the kind of person you are
In their first meeting with you, potential clients won’t be considering your qualifications or degree. They’ll be more interested in getting to know you as a person. They’ll want to see whether they can relate to you or not.
Tell a ‘who I am’ story to give prospects an insight into the kind of person you are. Let them know why you entered this profession, relate the obstacles you’ve encountered – or how you’ve helped other clients achieve their life goals. If you can make prospects see that you are a caring, authentic human being, they will begin to believe they could trust you with their investments.
2. Be enthusiastic
Bringing up pie charts and listing detailed product information won’t cut it if you want to impress prospects. But your obvious enthusiasm will. If you come across as truly enthusiastic about the prospect of working with them, and get them to see that choosing you is the right decision, you will inspire them to act.
Potential clients, like all of us, want to deal with positive, like-minded people. They will buy into you if you exhibit a happy, upbeat ‘can do’ attitude. In your first meeting Insist that prospects set high goals for themselves. Then assure them that you can make these goals happen for them. Be passionate – because passion is contagious.
3. Convince potential clients you understand their problems
Prospects are not looking for you to sell them products but to provide solutions to their problems. They are looking for someone they can depend on. They want to know you are the right person to help them retire in comfort, get the kids through college without borrowing money or simply beat the bank.
Only by studying people intently will you get to grips with their issues. Ask questions that will pique their curiosity and demonstrate that you understand how they feel and what they want. Draw out their goals by asking open-ended questions, for example ‘where do you see yourself in ten years’ time?’
4. Emanate charisma
When it comes to social skills some people appear to be born lucky. Naturally sociable people are a joy to be around. They’re friendly and quick to put people at ease – they’re instantly ‘likeable’.
As a financial advisor, your ability to come across as likeable is critical to your success. If you feel you’re not naturally endowed with charisma, work on your communication skills.
You can demonstrate charisma by utilizing various techniques – for example, draw people in with metaphors, similes and analogies. Use stories and anecdotes to make the unfamiliar familiar. Ask rhetorical questions, and convey your message with confidence. Engage by using eye contact, facial expressions and gestures.
Be deferential and listen more than you talk, so you can focus on making prospects feel good about themselves. Rehearse these tactics until they come naturally to you.
5. Be the ‘go to’ advisor in prospects’ niche
Having a niche will narrow your field of prospects down to those that are highly likely to choose to do business with you. Start by identifying a target clientele or ‘ideal client’ by examining your unique areas of expertise.
Who are you currently most comfortable working with? What do you have in common with them? Perhaps you share a professional background, play golf or attend a certain church?
If you can develop an expertise for working with clients in a certain niche, you will become ‘au fait’ with the problems they face and be able to develop a model for dealing with their specific needs.
In this competitive industry most financial advisors remain at a mediocre level because they look and sound the same. Unless you make yourself unique and memorable, you too may as well resign yourself to a life of under-achievement. Prospects will decide quite early on whether you’re the right fit for them – so put the focus on your ‘soft’ skills – these are the skills that will differentiate you from the competition.