You spend a lot of money to get in front of these prospects. So, doesn’t it just make good sense to give yourself the best opportunity of closing the sale? Time, money, and manpower are your assets. Don’t waste them! Set the stage for a successful conclusion to every sales meeting.

For many professionals, closing the sale always seems to be the toughest part of the sales cycle. If you have had this problem, don’t think you are all alone. It is the toughest part of any business. In fact, “closing the sale” applies to professions you may not have thought of.

Consider these examples:

• The teacher is constantly selling. He/she is trying to get students to “buy into” the fact that this knowledge can be beneficial.
• Men and women of the cloth are “selling” in their sermons. They not only are selling the fact that their message is beneficial, but also that it is urgent.
• Politicians? Boy, do they sell! They are selling a beneficial message, with urgency and with the hope that their message is novel.
• Parents? Of course! Parents are doing all the above selling and many times are more specific. For example, “You will study or you won’t get into college and you will not get a good job!” This is a classic sales pitch!

What all of these effective “salespersons” do that you may not be doing is “setting the stage” for the closing. They know, perhaps instinctively, how to prepare their “clients” for a definite conclusion.

Setting the stage includes:

• Having a steady stream of qualified prospects. Bad prospects mean low sales. Too few prospects and you will look hungry and not get the close.
• Knowing your market. Thoroughly knowing your market requires lots of time and study, but it is truly worth it. It’s part of “setting the stage” for the closing.
• Understanding why people don’t purchase from you or anyone else.

Here are four general reasons that people don’t buy:

• No money
• No need
• No hurry
• No trust

Understanding these “rejection factors” is why it’s important with every prospect to build trust, qualify them financially, and conduct a thorough needs analysis. A “fact finder” form allows you to find your prospect’s number one concern or need. Once you discover that need, you will be able to focus on it. As you present your story, you can make sure that you are addressing your prospect’s main concerns.

Furthermore, during this fact-finding process, you should never introduce new needs or concerns. The successful advisor always sticks to the big picture. If you do present new topics, you will sidetrack your discussion and move away from not toward closing the sale.

Now, I know you’ve heard these tips hundreds of times. You know what to do... but are you doing it? If not, you should review your branding and prospecting methods, examine your knowledge of your market, evaluate your time management procedures, and scrutinize your sales presentation.

Again, at the heart of the process – the beginning of the sales call – is the use of fact finder interview. You would be amazed at the high percentage of advisors who don’t bother to use a fact finder. Most advisors simply walk in and try to dazzle their clients with their footwork and close a sale fast. Using a fact finder will separate you from the majority of financial salespeople, because your clients and prospects will see you as the true, professional advisor.

Do your homework – know your prospect, your products, and your market. Engage in some careful fact-finding to identify the true needs of your client. Then, begin your “pitch” while staying on track throughout the conversation until you reach the conclusion. You will find that if you accomplish these steps, closing the sale will be the obvious and normal conclusion you and your client reach. ​​

Retirement income planning is like a puzzle. We usually start with the outside pieces and move inward. We begin with essential income needs, and then the discretionary needs like vacations, gifts, etc. Then, we take a look at available assets. If the person is a "pre-retiree," we look at the assets and estimate growth. We factor in Social Security and come up with the available income. Many times, it stops right there. The client purchases a financial instrument, and then we close the book. Everyone feels pretty good, and things aren't that stressful.

One thing that reduces stress is that the client underestimates how much money he/she will need in retirement. They also don't worry about the "lost Social Security check" (remember that if the client is married, the smaller check goes away when one spouse dies).

Most will agree that they will need more money to continue the life they have become accustomed to. You can only work with what is available. However, many have the "secret stash" that they keep around for emergencies. And, if it isn't needed, they will pass it to the kids or grandkids. But, there may be a better place for that money, and it might just "complete the puzzle." Let's look...

I am speaking about many of the hybrid life and annuity products on the market today. Some are so simple and they are "custom-made" for the annuity professional to present. In short, these products have an accelerated death benefit. The death benefit can be used for "LTC Type" expenses. In most cases, the client does not have to be confined to a nursing home. They qualify if they cannot perform 2 of the activities of daily living.

The money comes to them tax-free - they never have to go back to the doctor to be "recertified," and they can use it as needed for their expenses. And this benefit may keep them independent and not dependent upon their children. Plus, with many... no exam, fluid draws... just a phone interview. Also, cash value growth linked to an index. Let's keep looking.

If they don't need it for care, the death benefit goes tax-free to the beneficiary. A lot more than would have been available if the "stash" was in the bank. And, what happens in the event of a big emergency and they need the cash? No sweat, many have a return of premium at any time.

The bottom line: this could be the final piece to the puzzle. We have the tools, the videos, the point of sale pieces, and the white papers. So, take a close look at this and give us a call at 1-877-844-0900 if you would like some guidance.

One more thing, commissions are higher than annuities, first-year bonuses, and CPS that blow away annuities. Everyone wins on this one. This is a great product for client reviews. Until next time... good selling.