Perhaps you will agree the only thing that feels better than receiving a warm introduction from one of your clients to their friend, relative or business associate is when they buy a product or service from you.
One of the reasons you feel so good in both situations is because the client has taken action that confirms their trust in you.
Are you comfortable persuading prospects to buy your solutions but sometimes hesitant or less effective when asking for referrals, recommendation or introductions? If you are you are not alone. That’s why this edition of e-CAPS tackles the issue head on.
Expect clients to help develop leads
Success begins with your mindset. Do you believe that helping enough other people get what they want… helps to assure that you will get what you want?
Whenever you ask someone to make a decision they have an unspoken question going through their mind, “What’s in it for me?” That’s why asking them to tell you what they value about you and your solutions before discussing potential leads improves your odds of success.
Start your process by Probing. Try using questions similar to these:
1) How do you feel about the progress I’m helping you make toward your financial goals?
2) Is there anything about our planning process that you particularly like or dislike?
3) Please tell me the primary reasons you choose to do business with me?
Summarize important benefits your client has accepted
Finding answers to these types of questions helps you understand the benefits that are most important to your client and to keep your attention focused on them. This knowledge also helps you powerfully summarize what the person values before asking for referrals, recommendations or introductions.
Ask the client to help develop leads
Be clear about what you want your client to do. Do you want the names of referrals that you can call? Do you want the client to recommend you to others and wait for them to call you? Do you want a personal introduction over a meal or at a client/guest appreciation event?
Let’s look at two scenarios where we will demonstrate how using CAPS™ will help you secure new leads because your closing request is based on what is important to them.
Client One:
FR: How do you feel about the progress we’re helping you make toward your financial goals?
Client: I feel good because I have more confidence the money I’ve saved will last throughout my retirement years.
FR: It is a good feeling to have a plan in place to provide some guaranteed retirement income isn’t it?
Client: Yes it is.
FR: I have another question for you. Is there anything about our planning process that you particularly like or dislike?
Client: At first I was a little uncomfortable with all the questions you ask but I like how you listened to me before showing me some options for my retirement plan.
FR: I find that asking a lot of questions helps me understand what you really want.
Many of my clients have friends or family they are looking forward to spending time with in retirement. Who are some of the people you plan to spend time with?
Client: We have traveled quite a bit with Bill and Susan Nystrom and we plan on continuing to take some trips with them in the future.
FR: If they are anything like you, they might be looking for some ways to have a more secure retirement. Is there any reason you wouldn’t want to invite them to attend one of our upcoming events where we’ll be showing clients strategies to establish a base of guaranteed retirement income?
Client: I’m not sure if they’d be interested but I’d be happy to invite them because they might get some useful ideas.
FR: You’re right they might get some useful ideas that could help them enjoy their retirement. Does anyone else come to mind that you plan to spend time with during retirement?
Scenario Two
FR: How do you feel about the progress we’re helping you make toward your financial goals?
Client: Good because increasing my insurance coverage means there will be enough money for my family to stay in our home and have the money they’ll need if anything happens to me.
FR: You told me that was important to you so I’m glad I was able to be of service. Would you tell me the primary reason you choose to do business with me?
Client: You helped me figure out how much money my family would need and then showed me a way I could afford the insurance to provide it.
FR: It gives me a lot of satisfaction knowing I’m helping you.
There are many other people concerned about providing for their family if anything were to happen to them. I’ve put together a list of people I plan to contact. I’m wondering if you would you please take a look at it and tell me if you know any of them?
Client: Umm let me see…. Yes, I know Peter Jacobs and Steve Anderson.
FR: Would it be all right with you if I mention that you are clients and that I was able to help you solve one of your pressing financial planning problems when I give them a call?
Client: Sure that would be okay with me.
FR: Thanks.
If you are like many of my clients you may know other people who would benefit by reviewing their insurance and financial needs. If someone comes to mind, would you feel comfortable giving them one of my cards and recommend they contact me?
Client: I could do that but no one comes to mind right now.
FR: That’s okay and thanks for agreeing to pass along my contact information. Here are a couple of my cards. Also, I want you to know that If you’d like to introduce me in person to one of your friends or relatives, you can just give me a call and we’ll arrange a time for all of us to meet.
Conclusion
Clients are “buying” from you every time they agree to provide new leads. Closing to receive the names of new prospects is not unlike closing a product sale. Knowing what each client values in their relationship with you and asking them to explain the benefits that both you and your solutions provides increases your confidence when asking for names of new prospects.
Increase your odds for success by consciously committing to one or more strategies. Is your objective:
• To gather names of referrals?
• Be recommended to others so potential prospects call you?
• Meet new leads in person with existing clients?
Use proven tactics to grow your business with the help of satisfied clients.
• Are you asking for leads at the conclusion of client conversations?
• Do you periodically schedule appointments with the primary objective of soliciting client’s help to develop new leads?
• Do you invite clients to bring someone new to your client appreciation or educational events?
• Do you show a list of potential leads to your client and ask them if they know some of the people on the list?
Polish your communication skills.
• Do you have some probing questions you are consistently asking that encourage clients to explain what they value about their relationship with you and the solutions you provide?
• Are forming transitions based on client concerns so you can seamlessly guide the conversation to your objective of securing new leads?
• Are you listening and correctly evaluating attitudes so you can close with confidence whenever you ask a client for help growing your business?
What do you do to show appreciation to clients who provide you leads?
• Do you mail a thank-you note?
• Do you email a thank you message?
• Do you keep them updated as your develop the relationship?
You will discover it’s easier to persuade clients to help you develop leads when you use CAPS™ because it provides you a proven way to keep the conversation focused the benefits they value while guiding the conversation to your sales objectives.
