Q + 3L + 2R = Trust
May 25, 2006
By Thomas Wolff, CLU,
ChFC
With more than 50 years
in the industry, Tom Wolff has learned just how important it is to overcome
clients’ natural suspicions towards salespeople. He has devised a simple
formula agents can use to begin building trust with their prospects and
ultimately close more sales. (The following article is an extract from Sales Success—The Tom Wolff Way, which can be ordered from the NAIFA Marketplace.)
You have an appointment at
7 tonight with a couple referred to you by a client. It is 6:30 and you are on
your way to the meeting. Let’s listen to the conversation the couple is having
as they clear the dinner dishes.
She says, “I’m really
bushed. I can’t believe you made that appointment for tonight. Besides that, we
all the insurance we need.”
I know, but Jim recommended
we see this person. It can’t hurt,” he says.
“But we’re not going to buy
anything, right?”
“Right.”
“You promise?”
As you ring the doorbell he
says, “I promise.”
You exchange pleasantries.
The meeting goes well. You’re confident of a sale.
As you close, do they say,
“No, we are not buying”? Hardly. They are more likely
to say, “We really like what you have shown us, but we need more time to think
about it.”
What’s going on here?
First, we must realize that when a prospect gives an objection, it is the
beginning of the sale, not the end. Do we know how to respond to objections?
Have we learned our responses so well that they make prospects rethink their
objections?
For example, we can ask
them, “Would you mind sharing with me why you feel that way?” And then you can
follow up with, “Is there any other reason in addition to that?”
Second, studies indicate
that today’s buyers are more sophisticated. Hence, two interviews, even three
in complex cases, may be necessary to close a sale.
Third, and what is most
important, we must use the first interview to build trust. Why is this so
critical? Because prospects are suspicious of us. If
we make a sale, we put money in our pocket. No sale means we earn nothing. We
know this and prospects do too. Prospects do not buy when they are made to
understand. They buy when they feel understood.
The Trust Equation
How can we help them feel understood so that they will
trust us? I use the “Q+3L+2R=Trust” equation. Let’s examine the formula more
closely.
Q=Questions: Ask a lot of feeling, finding types
of questions, such as, “How did you get started in your career/this business?”
L=Look: Look at prospects as you speak with
them. Sooner or later, your eyes will meet. When they do, trust is being built.
L=Lean: Lean forward. This indicates your
high interest in what your prospects are saying. That great interviewer, Larry
King, uses the lean technique to perfection.
L=Listen: Do not interrupt prospects. What
they are saying is important and you want to hear it all.
R=Record: Record the data provided because it
is important and you will use it in preparing your recommendations.
R=Reward: Compliment prospects on their
achievements and successes with comments such as, “You certainly have a
wonderful family.”
This formula has helped me
close many sales. Closing begins at the beginning, during the fact-finding
process. It is here that we can build the trust that leads to a sale later.
Thomas John Wolff, CLU,
ChFC, served as 1979-1980 president of NALU (NAIFA). A member of MDRT since
1958, he is a recipient of the John
For More Information
·
Sales Success—The
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Marketplace
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877-TO-NAIFA
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