Client says, “This article says your product is horrible”

What do you say?

AGREE WITH THEM!  Don’t get defensive… agree with them.  When you do this it always puts the client back on their heels.  They did not expect this.  Argument over… almost.

You are never going to win an argument with a client, so here’s how to avoid one and still win.  Follow these 3 steps:

  1. When a client says something you don’t like… don’t argue, but instead agree with them.  This shuts down their “fight-flight” mentality and gets them listening to you again… instead of prepping for an argument.
  2. Then get on their side.  Tell them why what they are saying is right.  This is difficult to do at first but when you master this skill… the world becomes your oyster.
  3. After you have convinced them that you TOTALLY get where they are coming from… then and only then have them take a step back and look at the bigger picture.
  • Here’s what I mean by this.  Every objection is valid in the client’s eyes… so first look through the client’s eyes (get into their shoes).  And after they feel validated then you simply say, “Now let’s look at the big picture.” – and here’s the miracle… they will!  They will because you didn’t try to prove them wrong.  You instead proved them right… and then had them look at it from a different angle.

This skill is so important I have practiced it religiously for 30-minutes a week for 16 years.  But the great thing about this skill is you can get better at it in just 5 minutes of trying… the reason I train weekly on this skill is the same reason NFL players train on tackling and blocking weekly… not necessarily to get better, but to make sure the skill doesn’t backslide.

Posted in General | Tagged , , , , , , | Leave a comment

The “It’s Over” Checklist

Though we hope it never happens to our clients… sometimes they get divorced.  I’ve created a helpful checklist for those clients that are considering or pulling the trigger on getting divorced. If you’d like that checklist to add to your tool chest you can find it HERE … my treat.

Posted in General | Tagged , , , , , , , | Leave a comment

Please Leave a Message… But Make it a Good One!

Please leave a message.  How many times a day do we hear it from our client’s phones… or do we deliver the same message to our client’s ears?  Too many.

So here’s the question.  Are you treating it like a nuisance or as an opportunity to create business?  Whether it is you leaving a message or your client hearing your message, don’t miss this opportunity to be different… pique their interest or put a smile on their face… do anything but have them roll their eyes at your message.

Here are 3 different types of messages you can leave:

  1. Helpful tips: Give them an idea that they can put to use right away.  For example you could say this at the end of what you actually called for, “… and remember it’s spring cleaning time and that’s a perfect time to shred all your old financial documents.  There is a community shredding being offered at the library this Saturday between noon and 4 p.m.”
  2. Fun Facts: End your message with a bit of fun trivia.  For example at the end of your message you could say, “… and did you know that the US debt is now ten times larger than all the money circulating in the US right now?”  Or “… if you have $10 in your pocket and no debts, you are wealthier than 25% of Americans?”
  3. Favorite Quote: Or finish with your favorite quote like, “…as Will Rogers said, “Too many people spend money they earned… to buy things they don’t want… to impress people that they don’t like.”

Do this with your messages and people will remember you in a positive way.  You will stand out from all the other “noise” they receive every day… and they will want to speak with you.

Posted in General | Tagged , , , , , , , | Leave a comment

How Do You Simply Explain High Yield Risk

Have you ever had a client bring in some article or tell you that they’ve heard about some fantastic yield?  You know it’s rife with danger, but how do you explain it to them?

Here’s a great little drawing by that clients “get” immediately.Here’s how I would change it to make it even simpler.

Posted in General | Tagged , , , , , , | Leave a comment

5 Ways to Capture Prospects Emails

Email is the easiest and cheapest way to market to your prospects but how do you get their email addresses?

Here are 5 ideas:

  1. First and foremost have an offer on your website—that could be a free book, a free report or a free trinket.  Place that offer front and center on your web page.  They’ll need to put their email address in to receive that offer.
  2. Promote your website everywhere!  On letterhead, envelopes, business card, all of your marketing pieces, your business sign on your building… everywhere.
  3. When you do a speaking engagement always have an evaluation form.  Make it clear that you would like them to fill out the evaluation form.  Tell them, “Folks, it obviously costs me some money to come and speak with you which being a smart advisor I write off for tax purposes.  Could I please ask you help?  Please fill out the evaluation forms completely so that I have proof for the IRS that I actually did spend the money to come speak with you… and not to go on a luxury vacation? J”
  4. Create an email newsletter and promote it heavily—my preference for newsletters is what I call the “church bulletin” newsletter.  What I mean by that is make it look hand made.  Most people read their church bulletin from front to back… why?  It looks simple.  It is written by someone they know… about people they know… doing things they find interesting.  What this means for your newsletter is that it should absolutely contain something personal about you or your family in every issue.  It should NOT be just about money… it should be about things that are helpful in their everyday life.  Remember they already know you know a lot.  They don’t care how much you know… until they know how much you care!
  5. Run a contest and tie the entries to providing an email address—People gladly supply their email in order to enter a sweepstakes.  The sweepstakes prize could be for dinner and a movie… a visa debit card… a free big screen tv… whatever.  Then advertise the heck out of the sweepstakes. You can collect hundreds of great emails this way.
Posted in Marketing Tips | Tagged , , , | Leave a comment

Have FAITH in Growing Your Business

You have lots of friends and acquaintances at your place of worship.  These are people you like and they like you. They would be the perfect client but… you don’t want to be seen as trolling for business.

There is a really easy, fun and respectful way to grow your business through your faith based community.  If this is a community that you have always wanted to approach, click here to view a free copy of my Faith Based Marketing system called the Halo System.

Posted in General | Tagged , , , , , | Leave a comment

Simple Drawing Illustrates that Slow and Steady Wins the Race

You know that clients are rarely served by chasing last year’s returns.  Here is a simple drawing to help them understand the importance of sticking with the plan.

Posted in General | Tagged , , , | Leave a comment

When Being Good… is Bad

We think we are doing a good job when our clients are satisfied… WRONG!  Study after study shows that satisfied clients will only stay with you – until they find something better.  That means satisfied clients leave.

Clients don’t expect good… they expect the extra mile from us.  Fortunately for you, very few of your competitors go the extra mile, which means you have an opening to take their clients.

What is your extra mile?  Every advisor says they are an IRA expert… income expert… alternative investment expert… every advisor is saying that, so you CAN’T use that angle.  What about talking about how much you care?  Sorry, every advisor says that too.

In order to stand out from all of your competitors… you must be providing more value than they are, otherwise a client will have no reason to move to you.

So figure out what your unique “value add” is and you will see your business jump!  If you would like to check out a 10-minute video on the “value add” that I and the guys I work with, use.

Click here to watch the video

Posted in General | Tagged , , , , | Leave a comment

Whoa! Here’s an Easy Way to Add 3.75% Onto Your Clients’ Returns

If your clients ever want to know why paying your fees are worth it to them… Vanguard Mutual Funds gave you the ultimate proof.  A report by Vanguard called “Putting a Value on Your Value: Quantifying Vanguard Advisors Alpha” makes the case that people working with advisors will make an additional 3.75%!  Thank you Vanguard!  It makes us look like a steal to the client.

The paper illustrates that the advice of a competent advisor increases an investor’s return by:

  • Making clients “stick to the plan” an advisor will, on average, add an additional 1.5% annually to a client’s return.
  • Appropriately distributing a client’s assets between taxable and tax-protected vehicles can add an additional 0.75% a year to a portfolio’s return.
  • Paying attention to product fees can add another 0.45% to the return.
  • Regularly re-balancing a client’s portfolio adds another 0.35% annually.
  • Laying out a well thought out income (spend-down) plan can potentially add another 0.7% to the annual return.

Add those up and you get 3.75%.  So any fee we charge seems like a steal in comparison!

Click here to read the paper

Posted in General | Tagged , , , | Leave a comment

If You Haven’t Done This First… every sale is going to be difficult

The definition of conviction is: a fixed or firm belief

So how much conviction do you have for the process or product you sell?  In other words, how many of the products that you sell do you actually own?

I know a couple of huge life producers and they own tons of life insurance.  I know some big money managers and they own the platform they sell.

They believe in it.  They have conviction.

I’ll just cut to the quick.  Own what you sell or you are never going to be completely believable!

Posted in General | Tagged , , , , | Leave a comment