Discovering high value needs

Posted by Jul10, 2013 Comments Comments Off
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There is a methodical system for discovering a prospect’s high value needs and if you get it right, you’ll win that client for life!

It starts with a low self-orientation approach. That is, approach every prospect with the question “how can I help this person” – not with the motivation of “can I do business”. My aim is that all prospects should hopefully be better off for meeting me regardless if we do business or not. So I’m constantly on the lookout for way I can help them. I try and find an opportunity to “give first”.

Secondly, you need to ask better questions. Ask questions that challenge the prospect – get them thinking. Questions like how much income do they need in retirement? What is their biggest fear with borrowing money? You have to earn the right to ask deep questions so begin with some simple ones and then get deeper as they are more comfortable.

Lastly, keep an open mind. A high value need might not be something directly related to credit advice. Maybe they need help selecting the right investment property – so introduce them to a buyers’ agent. Maybe they need help managing their cash flow. 95% of people need help with something.

Find one to three high value needs, get agreement from the prospect that you have correctly understood those needs and then go about helping them satisfy those needs (and/or introduce them to other trusted advisors that can help). That will position you as a trusted advisor.

You’re far better to sell on high value needs rather than something commoditised such as a low rate, saving the prospect time or service. Good luck!

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