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Thank the Advisor for a referral

got coach — Sat, 08 Jan 2011 10:59:00 GMT

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It is important to thank an advisor for every referral they give you.

You should always send them a handwritten thank you note. If they are a good referral source or one of their referrals develops into a top client, it would warrant some of your budget money for an appreciation gift.

Referrals are your lifeblood. Treat them that way.

Respect your customer's schedule

got coach — Thu, 06 Jan 2011 11:56:00 GMT

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Nothing turns off clients and prospects like being late.

It is imperative to be prompt. If customers cannot trust you to be on time then will they trust you to deliver solutions? May I suggest taking promptness to a new level? If you schedule a meeting at noon, then arrive at 11:55am. Promptness translates to trustworthiness.

Being “fashionably late” is not an attractive quality in this business.

Be entrepreneurial

got coach — Tue, 04 Jan 2011 11:54:00 GMT

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The best wholesalers are entrepreneurs.

They respect that they are given a territory, product, marketing and support. They understand that the rest is up to them. They have the mindset that how much they sell and make is up to them. Take ownership in your territory and run it likes is your own business.

If you take ownership in your business you will go that extra mile to succeed.

Update the advisor on their referral

got coach — Thu, 30 Dec 2010 11:51:00 GMT

<:od><:od>Be sure to report back to the advisor on the progress you are making with their referral.

They will feel involved and could feel comfortable enough to continue to refer people to you. Advisors hate to give referral only to find out that the wholesaler never followed up on that lead.

Following through is a trait advisors are looking for in a wholesaler.

Be Yourself

got coach — Tue, 28 Dec 2010 11:49:00 GMT

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It is so important to be genuine.

The client and prospect will see through a counterfeit. It is important to portray the true you to the customers. Remember, people do business with people they know and trust.

Let the customer get to know you.

How do you handle "No?"

got coach — Wed, 19 May 2010 12:55:00 GMT

We work in an industry where we are trying to close clients. The final objective is to get a "YES" from them. Unfortunately, we occasionally run into a "NO."

The question is how do you respond to the "NO?"

Typically, people walk away from a "NO" never to be seen again. It is obvious that the customer doesn't know what they are doing. They clearly are narrow minded or have a bad decision making process. They don't have a quality due diligence practice. They obviously aren't going to be successful as long as they continue to make the decisions the way they do. There is no reason for me to visit them again.

Maybe there is a better way to deal with that "NO."

Try the gracious approach. Write the client a "thank you" note. Thank them for investing the time to research your idea. Perhaps you want to complement them on making a good decision for what they are looking for now. That does not mean you believe their research criteria is right, but that process does not favor your product today. You might even want to review what you have learned from the process and explain what you may change in the future. You want to make it clear that you are in it for the long haul, not just this sell.

There are clearly two different ways to handle "NO."

Which technique is going to get you invited in the next time the need to make a decision? Which technique will put you in line for their business if the first choice does not work out? Which technique will put you in a better light with the customer?

I think the answer is obvious.

Build a marketing library

got coach — Tue, 18 May 2010 13:09:00 GMT

Over the years you will come upon many marketing pieces and ideas that have worked for you. You will also run into other firms marketing pieces that work.

Gather any and all good pieces and start a marketing library.

You will be amazed how you will use those pieces or develop similar pieces down the road. I still find myself retreading ideas from yesteryear that are very timely today.

Sometime it makes sense not to reinvent the wheel.

Different types of meetings

got coach — Tue, 11 May 2010 14:47:00 GMT

When you are sitting down with your clients you should view it as a "real time marketing meeting" with real people. This is an opportunity to position how people feel about you, your firm and your product. There are three types of "real time marketing meetings" that you will have. It is important to know the types of meetings and to stay the proper course.

1. Information.
This is where you will be downloading as much quality information/date as necessary to get a point across to the client. You may dress it up as a conversation, but understand the primary objecting is to inform.

2. Gathering.
This is meeting where your are trying to gather as much information as possible from the client to build a quality action plan. You are soliciting direction and ideas from the client. This meeting is about them, not you.

3. Permission.
This is where you are trying to "close" the client on and idea or action plan. Your main objective it to get a "YES" answer to your proposal. While you are trying to get a "YES" answer the client also has the power to say "NO." You will need their permission to move on.

It is important not to confuse the different types of meetings. Know what you are trying to accomplish and stay on task. If you jump around within a meeting the client will get confused and the meeting will get messy. It is also important that the client stays on course. If at any time you feel the client is drifting into a different type of meeting...Stop. Review what you have accomplished so far in the meeting and move the meeting back in the right direction.

In your "real time marketing meeting" you are either informing, gathering knowledge or soliciting permission from a client. You need to set your course and stay on task. Clients like meetings with direction and will respect your ability to run a focused conversation. In the world of wholesaling we are always marketing ourself, our firm and our products. View our client meetings as "real time marketing meetings." How are you marketing yourself?

Be a "Story Seller"

got coach — Fri, 07 May 2010 12:30:00 GMT

Bring your presentations to life.

Stimulate your presentations with enthusiastic stories. When explaining a major point in your presentation, give them a real life experience. By bringing that major point to life it will be more memorable and real for the client to remember.

Bring life to your presentations. Put a little sizzle on that steak.

Under promise, and over deliver

got coach — Mon, 03 May 2010 12:19:00 GMT

Clients love a bonus.

Improve the quality of your client's experience with this mantra: I'm going to promise my customers less, but deliver more. Don't be the one (of many) that over promise, and under deliver. Think how you feel when you get more than you expected versus how you feel when you don't great everything that you paid for.

Be the person handing out the bonuses.

Feedback is good

got coach — Fri, 30 Apr 2010 11:09:00 GMT

Be sure to circle back to your customers for feedback.

Many wholesalers don't want to hear from people they have sold. Get feedback. The more you hear from your customers that they are happy with your products or your service, the better you will feel about yourself and what you do.

No news is no news! Good news is uplifting!

Be respectful of others

got coach — Fri, 23 Apr 2010 11:39:00 GMT

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Regardless of who the person is, they should be treated with respect.

Beside the fact that it is the right thing to do it also could have a long term effect. With all the promotions and demotions that happen in our industry there is a good chance that a subordinate will be elevated to a decision making position.

When making a decision the decision maker will remember how you treated them when they were your subordinate.

Create a referral pitch

got coach — Wed, 21 Apr 2010 11:44:00 GMT

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Develop a 30 second pitch on why you need referrals.

Explain what type of referrals you are looking to gather. If you have one well organized and brief pitch it will be easier and more comfortable to ask for the referral.

It will also remind them that you are similar to them and understand the importance of referrals.

Learn, Learn, Learn

got coach — Mon, 19 Apr 2010 11:46:00 GMT

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Don’t rest on your laurels.

Every day there is another wholesaler trying to steal your clients. It is important to keep improving your knowledge and skills. Read as much as you can. Take classes to improve your skills. Work with a tutor or business coach.

Once you think you know it all, those wholesalers that continue to improve their skills and knowledge will take your clients.

Take control of your office meetings

got coach — Wed, 16 Dec 2009 11:37:00 GMT

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Have a plan when you perform an office meeting.

Build a creative and informative presentation. When delivering your presentation stay the course. Advisors will try to get you off on a tangent for selfish or innocent reasons. It is important to control the meeting. You paid for the meal. You own their attention. It is your room. Take control of the meeting.

Respect their time with a high quality meeting and they will keep coming back.

Ask for the referral

got coach — Mon, 14 Dec 2009 11:33:00 GMT

<:od>It is always important to ask your customers and prospects for referrals.

If your clients appreciate what you bring to their business they will repay you with the gift of a referral. Make sure you articulate what type of referrals you are looking for.

Your clients, prospects and “centers of influence” will take great joy in helping you.

Don't judge the book by the cover

got coach — Fri, 11 Dec 2009 11:30:00 GMT

<:od>Many of your prospects and clients will have their faults.

Do not get stuck on their faults. Look past their warts and find their needs. If you can get past the negative and find their needs then we will have a chance to help them.

If you can provide a solution to their needs then you will have a grateful customer and the book cover will look a whole lot better.

Set goals

got coach — Wed, 09 Dec 2009 11:22:00 GMT

We all need goals to be successful.

Determine what your goals are going to be. Have a long term goal and short term goals. Have product goals, prospecting goals, servicing goal, etc. Reward yourself for accomplishing your goals. Give yourself a reason to go that extra yard to accomplish your goals.

Extraordinary wholesalers have extraordinary goals and focus on achieving them.

Stay in touch with the "center of influence."

got coach — Mon, 07 Dec 2009 11:13:00 GMT

Make sure you stay in touch with a "center of influence."

So often wholesalers make the initial contact with the "center of influence" and never return. They may not do business with you, but they are influencing many of your clients and prospects. It is important to have an ongoing relationship and not be a one hit wonder.

Nobody respects a "one hit wonder."

Things are good when the competition is trashing you.

got coach — Fri, 04 Dec 2009 11:51:00 GMT

In our industry, there is a lot of "negative" selling being done by our competition.

Be flattered when this occurs. The only reason others are speaking negative of you or your firm is because either they are frightened of you, or want what you have. Clients and prospects see through this archaic tactic. The more people sell negatively against you the more it reiterates to your clients and prospects that you are the competition that they fear.

Make sure you don't negative sell. You are only confirming the strength of your competition.