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Moving Up in the Marketplace

By admin - Posted on 06 February 2012

Over the past 12 years I have trained and worked with over 160,000 salespersons, sales managers and executives. Based on that experience in over 30 countries I am seeing an unfortunate trend. First, most people who join the financial services industry fail. And if they don't fail, they never achieve a leadership position in sales. Most are just average performers. This does not mean they are failures, it only means they have not figured out a basic principle.

The principle is how they should behave in their marketplace. The majority of the salespersons are transaction sellers. Their primary interest is to make a sale. Many even sell in one appointment. Financial service and products have become very complicated and the selling of them requires specific knowledge, skills and abilities. Some salespersons are just product pushers. When their companies release a new products, the salesperson tries to sell that product to everyone regardless of the customer's need.

The minority of salespersons, the leaders in our industry, are interested in building a relationship. They understand if they take the time to develop a relationship with the potential client, they will eventually buy and become a customer. They will sell the products but their focus is on meeting the needs of the client.

Remember a product is nothing more than a solution to a need that is uncovered in a planning process.

In every country there are three markets; the lower, middle and upper markets. As a financial advisor, if you wish to move up in your markets you will need to move away from the transactional sale and move towards the relationship sale. The middle and upper markets understand the value of advice. The middle and upper market customer wants advice first, then they are prepared to buy the product.

Those highly successful salespersons in the financial services industry sell much larger policies or products and receive much high commissions or bonuses. If you want to succeed, truly succeed, then you must adopt behaviors that are acceptable to the upper markets.

If you are happy with your results, then don't change anything. BUT if you want to change your results, then you must change your behaviors.

Remember - Success is a Choice!