February 1, 2011
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Dithering prospects – we’ve all been frustrated when someone who would be a really great client takes forever to make a decision. That’s why getting prospects to make faster decisions should be your first resolution for 2011.
Here’s an all too common scenario: You’ll have a really good meeting with a prospect, you agree you’ll be in touch to schedule a follow-up meeting – and then they won’t return your calls.
Or a prospect will look interested and ask you to send them some information as a follow up … And again, when you follow up, nothing.
There are a number of reasons that it takes longer for prospects to make decisions. People are busy. Inertia is a powerful force – for some investors, it’s just easier to stay where they are.
And often they’re genuinely unsure whether life with you is going to be better than where they are now.
The result: You need explicit strategies to get prospects off the fence.
Here are four to consider:
First, give prospects a compelling reason to switch their business to you. Second, reduce pressure on prospects. Third, build momentum into your meeting process.
And my favorite way to get prospects off the fence – communicate scarcity.
Strategy 1: Sell your point of difference
The first key to creating urgency to switch over is clearly communicating how prospects will be better off working with you compared to what they’re doing now.
In this respect, the more specific the better … generalities tend to wash over clients.
And you need to concentrate on outcomes rather than the process – how exactly are the people you work with better off as a result of your efforts?
For this to be convincing, be specific rather than general. So if you’re talking about your investment process and how you manage risk or ways you help clients reduce their tax burden, point to specific, concrete outcomes from your efforts.
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