Why Storytelling Should Be an Integral Part of Any Advisor’s Selling Strategy
As a Financial Advisor, it’s your job to influence and persuade. In order to buy from you people must like you, trust you and understand what it is you’re offering them. When a hot prospect walks away it’s usually because they didn’t ‘get’ what it was you were selling them. And no one buys what they don’t understand.
Prospects switch off when you’re talking numbers and statistics because they’re confusing. They don’t care whether you’re talking funds or variable annuities, they simply want the lowdown on how you can make their life better. People aren’t listening when you’re discussing figures, they’re looking at you wondering do you have kids? Where do you live? Can I trust you? Facts (even when you’re 100% correct) don’t make the sale, its perceptions and feelings that matter.
Share your personal experiences and build trust.
Your prospects want to know “Why are you here? What’s in it for you?”
They want evidence you’re not a user, you’re not there to sell them something they don’t want or need. Give them this – tell them why you’re on their side by using stories. Stories let your prospects know you’re human. Your prospective clients don’t think objectively, they’re going to make an emotional decision. People can get to know the real you through your stories, and the barriers will come down.
Get personal and show them you have the qualities they’re seeking: Integrity, compassion, core beliefs they can relate to.
Show them the money and describe what happened to you in the past that gave you these qualities. When you’re looking for a story reflect back and choose the one time in your life you felt you showed these qualities, and develop it into a story. Think back to a difficult decision that left you unsure. Did you make the right decision in the end? If not what did it teach you? Build your story about that.
Stories make your message engaging and let you connect emotionally.
A story has a structure that makes it memorable, it puts the meat on the bone. Find a connection to your prospects’ values using an action story e.g. the time you took one for the team, the time you helped a client exceed their goals. Describe your successes, failures, how your mentor helped you.
Good stories change behaviors, so decide which behaviors you want your prospects to have.
Is it being patient, looking to the long rather than the short term? Decide what one thing you want them to take away and build your story around this.
Create a vision story that will turn mountains, like volatility, into mole hills on the path to a worthwhile goal. Give people a sense of purpose, set goals high and inspire them to act. Employ an ending that verifies the story. Introduce goals, obstacles and decisions to overcome and finish with a good takeaway.
For example get clients to picture a typical day in retirement, their perfect day years from now, having accumulated all the wealth they intended. Then list the obstacles that are stopping them from getting there.
Investing is a complex business. By using stories to make yourself understood, you’ll build rapport and separate yourself from the competition by a country mile.
All you need is two or three stories to enhance your ability to connect with and influence people to act. Weave narrative into the facts. Focus on the outcome rather than the experience. Watch your clients’ reactions when you’re telling the story – how do they impact people? Drop stories that aren’t working.
You’re already a good storyteller, you tell stories every day. You simply need to put this skill to work in your business to make sure your message hits home.
Simplify your message with Don’s mp3 ‘Say It So It Makes a Difference’
… so you are better understood by prospects and clients.
Contains more than 100 compelling stories, analogies and power phrases.
