During individual coaching sessions, I typically assume that if an adviser has been working with me for any length of time that they are utilizing some of the fundamental tools that we have been discussing. Unfortunately, sometimes that assumption is incorrect.
Take for instance, my client John T., a financial adviser with more than 30 years of experience in the financial services industry. During our recent coaching session, I asked John what he thought was the biggest clog in his pipeline. He replied, “I guess it’s just getting new prospects and former clients to be interested in meeting with me.”
This is the first of many possible clogs because if you cannot connect during an initial conversation, then a prospect (or former client in John’s case) never actually gets funneled into the pipeline. Knowing that John had learned from me how to frame the conversation, which is a process for what to say in the first 60 seconds of your initial call, I was confused about why he was having this challenge. “John, let’s role play what you say when you call someone,” I suggested, and so we began.
Within the first minute of role play I realized that John had no structure or framework for his calls. He was saying whatever came to mind at the time! So I coached John to do the following:
Frame the Conversation
- Introduction: State your name, the company you are with and its location. This is important to establish with the prospect so that they know right upfront who you are and with whom you work for.
- Reason: Next, you incorporate “The reason I am calling” statement, which is designed to help busy prospects know the reason you are contacting them and for them to then determine whether or not they may feel your products and services can bring value to them.
- Benefits: Then comes, “The benefit” statements, which are designed to establish credibility and to help a prospect relate to what value you have brought to others that have had similar challenges.
- Close: The close is designed to elicit a desired response, such as setting up an appointment.
Creating a Compelling Conversation
It didn’t take John long to fully understand and apply the process during a future role play coaching session. Then in our next conversation he explained that he was finding success.
“So, why do you think this tool has been helping you?” I asked.
“It’s because I now have structure to my conversations and I’m giving prospects or former clients a reason to want to speak with me by explaining the benefits of what I do,” he said. “I used to just try and make small talk and hope that they would like me and want to meet with me. With this new framework, I create a compelling enough conversation so they understand how I can actually help them! I only wish I would have started with this “tool” thirty years ago!”
If you read this article and would like helpful techniques about how to customize your own ways to frame the conversation, email Melissa Denham, director of client servicing at firstname.lastname@example.org to schedule a free complimentary consultation with Dan Finley.
Daniel C. Finley
St. Paul, Minn.