After the Sale: What Buyers Want from the Professional
Nothing is more exciting than closing the BIG case.
You know - the one you have been working on for three years.
The client finally accepted your ideas and has planned properly.
The accountant agreed it was a good idea too.
You did the right thing! But it is also the one where you have calculated the commission so many times it is insane.
In your mind, after the sale, you are thinking of what the money will go towards - taxes, equity line, mortgage, college fund, retirement fund etc.
You even think of how much you can "hold back" so you can pad your checking account.
Then there's production credit towards MDRT and the trips you can win.
Have you ever put yourself in the shoes of the person you just sold? What are they thinking about? Understanding your clients' expectations is vital to your retention, the development of the relationship and the opportunity to sell them additional coverage or another product as their needs change.
Unfortunately, many financial service professionals make weak attempts at the service after the sale.
Yeah they may send them a thank you note and call to check on them now and again.
I know - it has happened to me.
But only the very successful, very few agents make it an ART.
Consider this - the person's financial picture and stage in life should tell you how much effort they expect you to put forth.
Older clients with higher incomes and more assets might not expect you to call on them that much.
But you do anyway, hoping you can tap into more people just like them.
That's fine.
But those that feel insecure, like young families, single mothers and fathers, want you to call them more.
They want to know about other products.
Why? They are extremely motivated to protect the family from a bad financial situation.
Yet this group is not on your sales radar because of lower income and ultimately lower premium dollars.
Shame, Shame.
So how does one tackle both sides of the fence?If you spend your time selling to the younger families, smaller face amounts with smaller investment deposits, you will work your tail off to make a living.
If you focus on the older clients with more invested assets and higher, more flexible incomes, you will make a big sale, but only so often.
You must get organized.
You must contact everyone after you sell them any product.
Keep in touch.
Give them personal attention.
Perform policy reviews.
Find a way to reach the younger family markets - where the desire for financial advice is strongest.
They may not make you a ton of money, but it will provide you with a database of loyal customers with ever-changing needs.
That is how to make it big in this business.
Sounds easy, but difficult to do right? It is easy, if you simply set up the right SYSTEMS, database and contact management program.
I have coached many agents on the art of communicating after the sale.
The Big Time Producers "touch" their clients over 100 times per year.
I'm a fan of about 50-75.
NOW - What will your contact be After the Sale?
You know - the one you have been working on for three years.
The client finally accepted your ideas and has planned properly.
The accountant agreed it was a good idea too.
You did the right thing! But it is also the one where you have calculated the commission so many times it is insane.
In your mind, after the sale, you are thinking of what the money will go towards - taxes, equity line, mortgage, college fund, retirement fund etc.
You even think of how much you can "hold back" so you can pad your checking account.
Then there's production credit towards MDRT and the trips you can win.
Have you ever put yourself in the shoes of the person you just sold? What are they thinking about? Understanding your clients' expectations is vital to your retention, the development of the relationship and the opportunity to sell them additional coverage or another product as their needs change.
Unfortunately, many financial service professionals make weak attempts at the service after the sale.
Yeah they may send them a thank you note and call to check on them now and again.
I know - it has happened to me.
But only the very successful, very few agents make it an ART.
Consider this - the person's financial picture and stage in life should tell you how much effort they expect you to put forth.
Older clients with higher incomes and more assets might not expect you to call on them that much.
But you do anyway, hoping you can tap into more people just like them.
That's fine.
But those that feel insecure, like young families, single mothers and fathers, want you to call them more.
They want to know about other products.
Why? They are extremely motivated to protect the family from a bad financial situation.
Yet this group is not on your sales radar because of lower income and ultimately lower premium dollars.
Shame, Shame.
So how does one tackle both sides of the fence?If you spend your time selling to the younger families, smaller face amounts with smaller investment deposits, you will work your tail off to make a living.
If you focus on the older clients with more invested assets and higher, more flexible incomes, you will make a big sale, but only so often.
You must get organized.
You must contact everyone after you sell them any product.
Keep in touch.
Give them personal attention.
Perform policy reviews.
Find a way to reach the younger family markets - where the desire for financial advice is strongest.
They may not make you a ton of money, but it will provide you with a database of loyal customers with ever-changing needs.
That is how to make it big in this business.
Sounds easy, but difficult to do right? It is easy, if you simply set up the right SYSTEMS, database and contact management program.
I have coached many agents on the art of communicating after the sale.
The Big Time Producers "touch" their clients over 100 times per year.
I'm a fan of about 50-75.
NOW - What will your contact be After the Sale?
Source...