An annuity prospect has agreed to a meeting. You’ve set up the appointment, and the two of you have discussed their financial situation, retirement priorities and preparedness. You’ve introduced a fixed indexed annuity and described the product’s various benefits and how it can help the client meet their financial goals. All that’s left is for the prospect to sign on the dotted line – but it may not be so easy to seal the deal.
Here, then, are six ways advisors can successfully close the sale once the prospect has pen in hand.
1. Uncover your prospect’s pain
According to Elizabeth McCormick, motivational speaker and CEO of Soar2Success International, and sales and marketing expert Toni Harris, it’s important to understand the pain that your product will solve for the prospect and address this issue during the sales presentation. “People typically buy for two reasons – to relieve pain or experience pleasure,” McCormick and Harris explain. “If your product or services address their pain, then you are likely to close the sale.”
2. Ask for the sale
Tom Hopkins says that, in most situations, sales fall through because the salesperson failed to ask the right questions. “Sometimes, it’s not just the question that matters, but how it’s presented. You may have to set the stage or tell a story leading up to the question that helps the client rationalize the buying decision. No matter how good your lead-in or story is, however, you won’t get the sale if you don’t ask for it,” Hopkins says.
3. Watch your prospect’s body language