In previous columns, we have finished the discovery, identification, and qualifying steps to determine if we have the right type of clients that fit our practice. Now we move on to the crucial need acknowledgement step.
If you are a one-call closer, this will make or break your sale. If you use a two- or three-step process, this will immensely help set up your product/solution presentation.
Need acknowledgement is ensuring a client understands what his needs are. This is a problem for most people. It is essential, as an advisor, to do our best to find the proper solution to meet client needs. This is where we want to ask questions such as:
“John and Mary, if I understand you both correctly, you’re hoping to retire in 10 years in Arizona? With enough money to live a lifestyle current with the lifestyle you have today? I realize that you would also like to own a second home in the mountains? And eventually, have enough money to handle your long term care needs, should either one require it? Does this cover your major concerns?”
You have to be absolutely certain at this point that you have all the information they have to share. If their answer is not a resounding “yes,” review your notes and go back and ask more questions.