The New ABCs Of Selling

Last week I got an email from a financial advisor asking me to share an article of what’s the difference between a product or a service in an intangible world and what’s the difference between a salesman and a trusted advisor.


Here is her perspective:

1. What is the difference between a product and a service in an intangible world?

A product is sold to you with no consideration of your needs. There is no discovery process for your objectives and no ethics regarding your ability to pay for the product or attempt to ensure that it will remain useful to you. There is definitely no follow-up or regular assessment of your needs after purchasing.
A SERVICE however includes clear and meaningful discussion of situation and recommendations are backed up by math that ensures you making the right purchase for the present and the future. It involves meaningful regular dialogue in the future, so that any changes in YOUR life can be re-assess by what you have purchased. (ie your impression of the compensation your advisor received for insurance was based on the quality of the service.)

2. What is the difference between a salesman and a trusted advisor?

A salesman will show you the three sample portfolios, private equity investments, stocks or mutual funds that did the best over the last 6 months to 3 years and will tell you that is what you should invest in to make big money. As most industries and asset choices cycle up and down – you find yourself buying at a high each and every time. They practically ignore you after purchase is made. A trusted advisor starts with what your needs are (for income or return or objectives for estate planning), and looks for the lowest risk solutions that meet those needs. A trusted advisor also considers aspects that are not directly related to the investment like tax strategy (after all – it’s what you keep – not what you make). A trusted advisor spends the time to help you understand your investment choice to the point where you are comfortable enough to see it through should external influencers (like political and economic events).
If you don’t start with the right questions, you will end up with a salesperson each and every time, and will forever be dis-enchanted and dis-illusioned about what traditional investing can be for you.

I do not disagree with what her definitions are but I think it is deeper than that. One of my favorite authors, Daniel Pink, in his new book “To Sell Is Human” prove the deeper part of influencing/moving others through selling. Here’s a video of what the book is all about of the new ABC’s of selling:

If you want a complimentary strategy session of how you can use this in your business, please email customerservice@lourdesgant.com to schedule a call with me.

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