Financial Services are intangible, they are abstract. People can’t touch, smell or taste them. This makes it very difficult to clearly demonstrate why your services are needed or are good. Difficulty in clearly demonstrating your service can lead to the following:
|Difficult to conceptualize||People can’t picture clearly in their minds your services or the good that they will do them|
|Difficult to evaluate||Because it is difficult to conceptualize, they will have difficulty evaluating your service. They can’t figure out the value your service represents.|
|Uncertainty and risk||Because they can’t effectively evaluate your service, their perception of risk rises. Any perception of risk, especially when selling financial services, is going to pour cold water on your possible success of converting that person.|
|Difficult to promote your offer||When people can’t clearly picture your offer… and then have difficulty conceptualizing your offer… and on top of that, perceive that any change on their part is risky… you have a difficult sales situation.|
Now that we understand selling our intangible service is difficult… how do we remedy that? When you go into Costco or an ice cream shop, do they ever offer free tastes? Why do they do that?
How can you create a “free taste” of your services? What can you do that will allow them to hold, feel, experience what you do?
- Provide a Preview of your services—show them how to create a digital executor and let them know why it’s important.
- Give them something easy to accept—give them a cheat sheet on how long they should keep their household records, or any other “tip” type checklist.
- Give them tangible research—provide them with a link to research something that has a direct impact on their lives.
- Make it interesting—avoid huge amounts of details and instead get to the point about EXACTLY how something you offer benefits them.
- Become a leader—become an expert in your area by cultivating relationships with your local community, newspapers, radio stations and tv stations about a specific expertise you have.
- Mine your backyard—are there services that you offer that some of your current clients didn’t yet use? Or maybe they aren’t even aware that you do? You bet there are! Go back and show them new and exciting things that you can do for them.
- Rinse and repeat—once you have cultivated your specific area of expertise… constantly repeat your value-added offerings through every avenue available to you. Something repeated constantly, and often, becomes TRUTH.
Make it your goal to make your services, as tangible as possible.