Wholesalers face aggressive activity objectives. Today’s standard is 25 in-person contacts per week. When covering larger geographies this proves challenging. As a result of insufficient scheduling, some wholesalers stop at an advisor’s office after calling to say, “Hey, I’m just down the street…” or – even worse – totally unannounced. “Do you have a few minutes?” turns into 30- 60 minutes. The wholesaler attempts to tell his or her story with little regard for the schedule of the advisor.

Recently a coaching client called me about a wholesaler dropping in unannounced and sucking up an hour of his Associate Advisor’s time. This wholesaler has a quality product, but my client called the wholesaler and advised him not to call or come back. You might ask if this is a little drastic; maybe so.  However, my client was waiting on a report that was to be prepared by the associate – and the report was late. Not only did my client fire the wholesaler, but he had to deal with a delayed meeting because the associate tried to be courteous to the wholesaler.

Are Drive-By’s ever appropriate? Possibly when dropping off a promotional item ONLY or to introduce oneself and schedule a future appointment. However, if a wholesaler expects the advisor to have empty time in his or her calendar because the wholesaler has empty time, the situation is totally unprofessional.

FOR ADVISORS: Be jealous with your time. Give wholesalers your “ground rules” for meeting. And be on time when you have a meeting scheduled with the wholesalers. Their time is as valuable as yours.

FOR WHOLESALERS: Schedule in advance. Use a scheduler. Set your next meeting at the conclusion of this meeting. And always be a pro.

Good Selling!

Today’s kids just aren’t motivated. We have spoiled and coddled them. They don’t have drive, and can’t deal with competition.

Yeah, right.

Yesterday Missy Franklin put an exclamation point on her first world swimming championships in Shanghai.  She won five medals in all — two golds and a silver in relays as well as a gold medal in the 200 back, and a bronze in the 50-meter backstroke. Her performance put Michael Phelps meet – which was outstanding – into the second paragraph of news articles. Phelps was quoted as saying, “She does it all… she’ll remember this for a long time.”

Did I mention Missy Franklin is only 16?

Missy teaches us some wonderful lessons. You are never too young (or too old) to realize big dreams, but those dreams come with a price! During the broadcast, the commentators from NBC mused about the influence of Franklin’s coach, Todd Schmitz. Schmitz taught his young swimmer that when you practice, it is similar to making deposits in the bank. You keep making deposits whenever you practice, and you equate the amount of the deposit to the quality of the practice. When you compete, you get to withdraw everything you have deposited!

Apply this to your business. How can you make “deposits” into your business? What can you “practice” that will result in significant withdrawals in the future? Consider practicing:

• Exceptional Service
• Keeping Promises
• Presentation & Delivery
• Staff Empowerment & Development
• A Never-Ending Commitment to Improvement & Excellence

Congratulations, Missy Franklin. Thank you for your inspiration, and best wishes for continued success, and a long and happy life.

And to you…

Good Selling!

Client reviews are sometimes difficult to schedule. The client says something like, “Well, no need to get together. We are happy where we are.” We assume that means they are “satisfied” – and we are right. However, satisfied clients are not necessarily loyal clients. Maybe we need to examine our review process. Maybe, just maybe, the client does not see the value of sitting down for a review. Maybe the problem is us; we don’t really provide a quality review! Many advisors consider a review to be a time to simply go over account statements, increase positions, and sell additional services.

One of the biggest constraints you face when making any presentation is a limited amount of time to get your point across. You have to deliver your information as efficiently as possible, and address everything you can in the time you have. Your goal isn’t to make listeners instant experts on the subject but to include as much information as they can effectively process. Keep the following pointers in mind, both during your preparation phase and while you’re conduction the review.

1.    Know Your Client. Knowing your clients well helps you determine how best to help them quickly, based on what they want and need to learn. Ask yourself: Who is this person, and do I not know about them?  What’s most important to them? How does your information help them? Don’t worry about your needs; focus on the review from their perspective.
2.    Prepare Carefully. A quality client review begins with a tight, succinct agenda; utilizing an organized, logical process which is goal-attainment. Use a standard meeting agenda. Keep everything as simple and straightforward as possible, supporting your message with facts, without being overly technical.
3.    Broaden Your Appeal. To maximize information transfer, you have to appeal to the basic types of learners. Build your review around their preferred method of gathering, sharing, and organizing information. Some people want the bottom line. Others want detail. Some like visual communication tools, while others are verbal. Know your clients’ communication styles.
4.    Use Effective Visuals. Speaking of visuals, the old saying that a picture is worth a thousand words may be a cliché, but that doesn’t mean it’s untrue. Charts, graphs, and props can add immeasurably to your ability to get your message across, but only if they’re easy to read and easily grasped. Graphics are especially useful for quickly presenting statistical measures and numeric indicators, in order to get your points across. As with your words, though, they need to be concise.

Examine your review process, and consider how you can make it more effective. This pays dividends for the client and for you.

Good selling!

“National Sales Meeting Season” is upon us! Do you get the maximum benefit from national and regional sales meetings? Follow these five simple steps to get the most value from the time you invest attending sales conferences.

1. Set Objectives. What do you need to grow your business this year? How can you deliver even better client service? What efficiencies can you put in place to allow you and your team to work smarter? Asking these questions and setting objectives for sales meetings provides the framework for making these meetings profitable.
2. Review The Agenda. What sessions promise the most for you? What speakers do you want to make certain to hear? Research the speakers to find out about their experience and areas of expertise. Look at the list of sponsors to identify product partners and vendors with whom you would like to visit. Make the best use of the exhibit hall for new learning and service opportunities.
3. Network. Meet people that can help you achieve your business objectives. Look for new attendees, and welcome them. Who knows; they might be able to help you as well! Connect with home office leadership and support staff to build relationships, create liaisons, and advocates for opportunity development and problem solving.
4. Plan Individual Meetings. Schedule breakfasts, lunches, dinners, and coffees in advance with individuals that can assist you as you work toward building your business.
5. Have Fun. Sales meetings often include entertainment, excursion, and adventure opportunities. Take advantage of these, for you can mix business with pleasure!

Good selling!

Business is all about relationships. My business coaching clients often struggle with relationship development. We get so busy with production we sometimes neglect deepening relationships with those involved in our businesses. Relationship development is simple, but not easy, but there is no need for financial advisors to over-complicate relationship development. A little focus goes a long way, so for 2011 consider this simple formula:

20/10/3

First, identify your top 20 client relationships. These are platinum relationships that fir your business model, they like you, and you like them. Develop a strategic contact plan for these clients. When will you call and meet with them? Commit to finding out more about them, and not just facts, but also the foundational life experiences and feelings that motivate their behaviors. Also build a list of potential client that they know, and plan to ask for introductions.

Second, build a list of your top 10 internal client relationships. These are people in your firm that can help you grow your business. Included would be assistants, those in other departments, home office support staff, management, branch employees, etc. This can also include vendors. Develop a plan to get to know these people better, and ask yourself how you can bring value to these relationships. Ask yourself how you can help them, and commit to meeting with them on a regular basis.

Third, list three people that are colleagues. This step includes advisors in your firm or possibly “competitors” – advisors with other firms with whom you enjoy a collegial relationship. Meet periodically to share sales, service, and practice management ideas.

Building better relationships always results in more and better business. Follow this simple formula to make 2011 your “Year Of The Relationship.”

Good selling!

Professional advisors and salespeople know the value of thank you notes. However, most people find writing thank you’s challenging. While speaking in St. Louis last week, I heard an exceptional, simple strategy for writing thanks you’s, courtesy of Roger Plackemeier, a wholesaler with Allianz Life.

Roger suggested this three-part formula:

1. The first sentence starts with “You,” and is focused on the person receiving the note.
2. The second sentence is where you thank the person.
3. The third sentence is an action idea, or next steps.

What does this look like in practice? Look at this example of a note I wrote last week:

“You made my day with the comments about my presentation last week at the 55th APAI Convention. Thank you, and I’m glad the ‘Heroes’ presentation was a part of the conversation when you closed the deal with your customers.  I will stay in touch, and feel free to call me if I can ever help you in any way.”

Thank You Notes don’t need to be difficult. Use this strategy to make your thank you’s meaningful and effective. Thank you Roger, and as always…

Good selling!

When we speak of mass marketing, advisors often turn up their noses. “We don’t use telemarketing or direct mail,” they say. Mass Marketing is defined as, “Broad-brush, unfocused attempt to appeal to an entire market with one basic marketing strategy utilizing mass distribution and mass media. Also called undifferentiated marketing.” (www.businessdictionary.com)

The problem with mass marketing is the lack of focus. However, speaking and seminars provide a great way to mass market in a focused manner.  There are a wide variety of civic organizations, retired employee organizations, and others that would love to have you present a program that tells ablout you and your services. Also consider networking organizations as a way to mass market in a more focused manner.

I practice what I preach. On September 9 I will be speaking at the Midwest Speakers Bureau’s Got Talent Speaker Showcase. Meeting planners from across Iowa will have to opportunity to hear eleven quality speakers in one location.

Consider how and where you can speak in a focused manner to a target audience that wants and needs your services.

Good selling!

Click here to see Michael Roby’s demo video for his presentation of “Double Your Business.”

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