Ep 088: Learning A More Genuine Sales Conversation Approach To Better Turn Prospects Into Clients with Nancy Bleeke

Financial Advisor Success

Michael Kitces

News, Business, Entrepreneurship, Business News

4.8 • 696 Ratings

🗓️ 4 September 2018

⏱️ 111 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today we’re going to talk about a topic that makes many financial advisors cringe: sales. But despite the negative reaction many people within the industry have to this topic, my guest today is here to explain why “sales” actually isn’t a dirty word. Nancy Bleeke is the founder of Sales Pro Insider, a training platform for financial advisors that teaches how to better turn prospects into actual clients, and she’s here today to share how to take a comfortable and ethical approach to selling that really works.

In this episode, Nancy shares her somewhat nontraditional sales training approach that simply focuses on having a structure to conversations with prospects to ultimately help them make a decision or take an action at the end. Listen in to hear her expert advice for how to talk to both prospects and clients using the WIIFT™ structure—which is both focusing on what’s in it for them and a five-step conversation process—the big mistakes many financial advisors make that scare away potential clients, and what it takes to increase both your comfort level and the comfort level of your prospects when it comes to selling.

For show notes and more visit: https://www.kitces.com/88

Transcript

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0:00.0	Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with
0:07.2	financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading financial
0:13.0	advisors navigated the inevitable challenges that arise on the path to success and get insight
0:18.7	from leading industry consultants about how to break through to the
0:22.1	next level in your advisory business. And now here's your host, Michael Kitsas. Welcome, everyone.
0:28.3	Welcome to the 88th episode of the Financial Advisor Success podcast. My guest on today's podcast is
0:33.9	Nancy Blakey. Nancy is the founder of Sales Pro Insider, a sales training platform for
0:38.7	financial advisors that teaches how to better turn prospects into actual clients. What's unique about
0:44.4	Nancy, though, is her somewhat non-traditional sales training approach, which isn't about
0:48.4	pushing features and benefits and going for the hard clothes, but simply about having a structure
0:53.2	to the conversation that
0:54.7	occurs in an approach talk with a prospect to ultimately help them make a decision or take an
0:59.4	action at the end. Because the reality is, even if you're in the business to get paid for your
1:03.6	advice and not to sell your company's products, you still have to sell someone on the reason why
1:09.2	they should hire you and pay your fee in the first
1:12.0	place. In this episode, we talk in depth about Nancy's WIFIT structure to the sales conversation,
1:18.2	which is both focusing on the what's in it for them of the Wiffitt acronym, but also a five-step
1:23.9	conversation process of wait and prepare, initiate, investigate, facilitate,
1:29.3	then consolidate. The importance of asking more questions to really understand a
1:34.7	prospect's context so that you can refine and right-size the information that you give them.
1:40.2	And the dangers of giving prospects more information than they actually need in a manner that can just put them into analysis paralysis instead of helping to motivate them to take an action or make a decision.
1:51.2	We also talk about the actual key questions to ask a prospect throughout the meeting process, from setting an agenda with them in advance of every meeting to ensure you're really
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