Building The Need
Posted by Joe Anzalone on September 08, 2011
Categories: SalesTalk | 1 Comments
Master the 4 Question Types for More Sales
"Our first meeting will be all about you." Many producers make this claim to their prospects, only to renege on it when the meeting happens. Alas, they are tempted by the opportunity to show how much they know- about the market they're in, the products they sell, or the office they've built. They have forgotten the golden rule: a prospect only cares about what you're selling if they believe they need it. If the producer hasn't asked the necessary questions to build the need, a sale will not be forthcoming.
Wait a minute, many of you may be thinking, I landed the first appointment, so I know they already need something. Well, that's not necessarily true. Some may, but some may not. Have you ever met with a prospect a week or more after your workshop or event took place? If so, that prospect may not remember why they set the appointment, and simply kept it out of a sense of obligation. In any case, mastering these 4 types of questions will help build the need with any prospect.
Type 1: Close-Ended, Detail Related
Many of these are typically covered on the fact-finder or family questionnaire. As close-ended questions, they can be answered with a simple yes or no, or a number. While essential information for proposing your solution, these questions do not elicit an emotional response, so the need is not built here. Type 1 examples include questions about age, value of assets, years to retirement, their desired income, and so forth. For purposes of our exercise, let's start with a basic question:
Type 1: How many years from now would you like to retire?
Type 2: Open-Ended, Detail Related
With Type 2 questions, we are beginning to build the need. They should be asked in conjunction with Type 1 questions, so the prospect is actually verbalizing in the meeting what their financial goals are. As open-ended questions, they cannot be answered so easily, and require your prospect to elaborate. For example:
Type 1: How many years from now would you like to retire?
Type 2: And what do you envision in your retirement, as far as lifestyle and income goals?
Type 3: Open-Ended, Problem Related
Type 3 questions are similar to Type 2- they require the prospect to expound on their answer. There is, however, one important difference: they are problem related. They require your prospect to talk about their fears, concerns and worries. It is here where the need is established and the solution is formulated, because it will ultimately address an area of pain. Remember: if a prospect is not talking about their worries, fears or concerns, they are not emotionally involved in the conversation. It's your job to find their financial pain, just as a doctor diagnoses where their patient's pain is. So, let's continue with our example, and add a Type 3 question.
Type 1: How many years from now would you like to retire?
Type 2: And what do you envision in your retirement, as far as lifestyle and income goals?
Type 3: If you're not able to achieve your desired income level, how will those goals be affected?
Type 4: Close-Ended, Problem Related
If we've asked our questions wisely, the need has now been built in the client's mind. Moreover, they have told you what might happen if their pain is not addressed- rather than you telling them. A Type 4 question also discusses the perceived concern, and gains agreement from the prospect to proceed. These types of "reconfirmation" questions and answers are essential; they are, in effect, a verbal agreement between you and your prospect to move forward and address the problem. Let's take a look:
Type 1: How many years from now would you like to retire?
Type 2: And what do you envision in your retirement, as far as lifestyle and income goals?
Type 3: If you're not able to achieve your desired income level, how will those goals be affected?
Type 4: So, we should talk about a good solution for a possible income shortfall. Correct?
The need has been built. The permission to move forward has been given. And you have laid the foundation for your next sale. While simple, mastering these questions takes practice, but the work should pay off in more revenue from every appointment.