Let me tell you a short story before we go in depth. It’s about the new reality of a car salesman. Traditionally, many car dealerships are based on a simple idea: they know more about cars and pricing and profit than the customer does. By leveraging the information advantage, they can sell cars at a higher markup, upsell add ons, etc.
But what happens when the customers know more then they do, when potential customers know about every option, the inventory at every dealer, etc?
This is going to happen to every business, every sector, every level. Also to our financial planning business. When information is set free, does it help you or hurt you?
What if you can save at least 60 minutes worth of explanation, reasoning, justification, comparison and analysis in your client interviews? I believe that in the financial planning business there is still a traditional reasoning-centered approach to selling the service. It’s not strange. Most advisors don’t know about the possibilities of right brain selling. I didn’t for 11 years although I continually studied during this period. Are you still using the traditional approach and therefore missing chances to engage, connect and sell more?Continue reading
“I believe that financial planners will be more successful when using their right brain potential”. Actually it’s strange for me to say. I’ve always been a typical left brainer for years. Good at maths, very rational and successful with study. And always focussing on building knowledge. Because when I finished a study I could say that I achieved something. And that’s very tangible. That’s great, because left-brainers love it when it’s tangible.
I also thought that with this knowledge I could help my clients the most. But after reading Simon Sinek’s book ‘Start with Why’ about three years ago, my perspective changed. The book gave me the urge to search myWHY. And I discovered something I never knew before. Since ‘Start with Why’ I’ve read many, many other business books and found out that almost every successful and innovative influencers (like Seth Godin, Robert Cialdini, Anthony Robbins & Daniel Pink) wrote about the power of the right brain. Since then I can’t stop reading and researching about it. And more important: I’ve applied it in my financial planning profession.
Now, my goal is to inspire other financial planners to believe in their right brain potential. I believe in the importance of the financial planner. Financial planners are by definition highly educated. They have the ambition to reach for the best. And more important: they truly want to help people. Not by selling products. But to give real advice based on what their clients really want. Because financial planners have these strong ambition and are almost always smart people I know financial planners have this right brain potential. When using it right, it’s going to build more profitable and enduring relationships.
To prove it to you I’m not going to tell you a story, influence you with a metaphor or let you see the big picture. In other words, I’m not appealing to your right brain. To show you that what I believe is true, I’m going to appeal to your left brain in this article. Because I know your left brain asks you to rationalize your choice to work on your right brain potential. And therefore it needs facts and numbers. So please take a look at the picture below.
We are very proud, happy and overwhelmed with emotions with the birth of our beautiful and healthy daughter and sister Julia. Julia was born this Wednesday the 26th of June. Please take a look at the picture below. We love your comments. Thank you.
Picture this: a technique to seduce people which makes them do the things that you want them to do. In his best selling book Influence: The Psychology of Persuasion (Collins Business Essentials), persuasion-professor Robert Cialdini presents 6 scientific based seduction techniques from social psychology. The book gave me ideas a financial planner can use to make their clients say ‘YES’ to the service financial planners are offering.
Remember great epic series like The Game of Thrones, The Tudors or Spartacus. There’s always the bad guy (the king) and the good guy (the hero). Next to the bad guy (the almighty king) is always a personage who is called the king’s counselor. His job is to advice the king about what the king should do to avoid future dangers. You often hear him say things like ‘danger is coming’ or ‘the enemy has gathered’.
What would happen if, starting today, you had to begin selling your service or advice without the use of numbers, statistics or charts? Would you suffer paralysis by analysis? Let’s just pretend that this scenario did take place and ponder which alternative forms of presentation you would choose to use.
What is your value proposition that sets you apart from other financial planners? Do you use terms like: ‘independent’, ‘wealth management’, ‘the best advisor’, ‘actual knowledge’, ‘CFP’, ‘trustworthy’ or other features? The problem with this kind of terms is that it’s used by everyone. And it’s also not really compelling. It’s just a feature, while your client is really interested in benefits. So how does your (potential) client know why he has to do (or has to stay in) business with you? He doesn’t, unless you have the right value proposition. That’s why it’s essential to write it in the exact words that relate most to your target audience.
The easiest way – and for most financial planners a really scary way – to discover what these words are, is to do this: