Art Mortell

The traditional sales strategy is product selling. We discuss the value of our products, versus our competition, and seek a positive decision. More recently we have transitioned to need-based or consultative selling. The focal point is to “know thy client.” Rather than sales people selling products, we are consultants providing solutions.

The third and most important strategy is relationship selling. Our only two objectives are relationships and results. The better the relationship, the better the results. However, the type of relationship that one person might prefer with us might distract someone else. Our challenge is to gain each person’s trust and confidence, so they feel comfortable depending on us.

Understanding how to merge these three strategies together – of product, consultative and relationship selling – and when to use which, can take our success to the next level. Effective sales people develop the selling skills that assure their success through the six stages of the communication and persuasion process.

Our results are a by-product of relationships. The better the relationship, the better our results. However, people are different. The type of relationship that one person might prefer with us might irritate or distract someone else. Our challenge is to understand what is required to gain each person’s trust and confidence, so they feel comfortable depending on us.

Understanding each person’s unique personality, as well as realizing our own complexity, can help us resolve conflict and develop strong relationships that ensure results.

Successful financial advisors know what they need to do to develop their client base, gather additional assets with existing clients, and take their success to a higher level by developing more affluent clients. The challenge is to understand why they might avoid prospecting for new business, developing stronger relationships with existing clients, asking for referrals an calling on more important people.

Through self-coaching techniques such as knowing when to go for advice and when to be a mentor, and breaking down objectives into stepping-stones, they are always extending themselves without feeling overwhelmed.