5-minute Finance: The Value of Differentiation

At our core, we are all ordinary people – we determine our own outcomes and must work hard for success. The key to achieve extraordinary results in sales is differentiating yourself with an impactful pitch. To stand out from competitors, you don’t need to go too far outside of the box – simple tactics incorporated into your daily routine will make a difference over time and elevate your business to new levels of growth.

Silence Is Golden

Many advisors share the same personality trait, we talk more than we listen. It’s understandable – we’re passionate about our work and want to share our enthusiasm. But to build the relationships our careers depend on, we need to let our clients speak. Silence is only awkward if you allow it to be, so seize the silence and actively listen to learn about your prospect. It’s possible to talk yourself out of a sale, but you can’t listen your way out of one, and the insights you gain make your connection irreplaceable.

When you’re comfortable with silence, you can capitalize on opportunities to cultivate deeper bonds. I like to ask prospects about their personal journey, then remain quiet. Given the chance to speak without interruption, most people happily open up about their goals, allowing you more insight into their needs than they may offer with direct questions so you can tailor your services accordingly. Create a few moments of silence during your next meeting, and see what information you learn that enables you to better serve clients.

Be Dedicated

We’ve all experienced frustration when someone arrives late or unprepared to an appointment, and we don’t want clients feeling undervalued. Creating an environment of authentic dedication to your practice will set you apart from competitors. Arrive on time primed with notes and provide your prospect with undivided attention. Put genuine care into your connections and you’ll likely receive the same courtesy in return, increasing your productivity.

Always keep your promises and build trust by treating each relationship as if it’s your only business. Implement an effective method that ensures you follow up in a timely manner, whether it’s marking your calendar or setting reminders on your phone. Consistency is essential to closing sales, and prospects will choose an advisor who proves their loyalty and unwavering commitment no matter their number of clients.

Check Your Attitude

We have to work for every sale, and your attitude has a large impact on a client’s first impression. Before any meeting, we all check our appearance in the mirror, so take this moment to check your attitude as well. When feeling down, I imagine the best possible outcome from my upcoming appointment. Think of what makes you smile and keep it in mind – optimism is a powerful sales tactic which draws people in and starts conversations to achieve valuable connections.

No matter your status, humility is key to empathizing with clients and winning business. You are never too powerful to lend a hand with small actions, such as working late to accommodate a prospect’s busy schedule or bringing extra copies of financial statements your client frequently misplaces. Your relationships will grow as prospects appreciate your willingness to assist with any of their needs, and the tasks will help keep your ego in check.

Throughout our careers, many of us seek the newest sales method to supposedly elevate our business overnight. However, these simple tools can make us dramatically more effective and transform our work from ordinary to extraordinary. Take the time to form deeper relationships and you’ll distinguish yourself as a professional who sincerely cares for their clients, and reap the rewards with a thriving practice.

Jerry Wellington, Dip PFS, Dip CII, is an eight-year MDRT member with three Top of the Table qualifications and the managing director and independent financial advisor for Financial Planning Concepts. He attended his first MDRT Annual Meeting in 2006 and was so inspired that within two months, he set up his own company to guarantee premier client experiences. Jerry resides in Truro, Cornwall, United Kingdom.