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To succeed as an advisor, it’s not good enough to have the right products and the right clients. You need to understand your clients’ underlying goals and constraints and to develop an atmosphere of trust and understanding. In the course of my work with numerous advisors, I have found that the “T.R.I.U.M.P.H.S.” model effectively develops those skills.
Here’s the difference that model made for a couple of advisors:
Susan had been doing well in her advising career for many years. She understood how to how follow up on leads and referrals and how to offer excellent service to her clients. Yet she was amazed at how much more successful her colleague, Michael, was. She seemed to put a lot more hours and a lot more sweat into her work than Michael did, but Michael’s accounts and new referrals grew much faster than hers. What was she missing?
The key difference between Michael’s approach and Susan’s was the fact that Michael has trained himself to be an “active listener.” He used the T.R.I.U.M.P.H.S. model not only to help him maximize his client services, but also to communicate effectively with his wife and teenage children.
Here are the components of your sales ”triumphs:”
T – Treat your clients and prospects with respect. Developing rapport with prospective clients is a crucial first step. Smile, position yourself at the same level (sitting or standing, depending on what the client is doing), and slightly lean toward him, maintaining eye contact. Make sure your cell phone is on silent; give undivided attention to the client.
Listen to what the client is saying and don’t shuffle papers or start thinking about your response. Just listen to her. Regardless of what she asks, don’t fall into the trap of thinking you need to answer immediately. It’s ok to say, “That’s a great question. Give me a day or so to research our products to find the one that precisely addresses your question.”Some clients can be long-winded, nervously asking a lot of questions, especially regarding expensive products but cutting off someone may lose you the rapport you need to develop. Always give the speaker the courtesy of finishing a point before you interject yours. Take notes so you won’t forget what you wanted to say.
R – Reflect back what your client is telling you before you actually respond. The best way to understand a prospective client is to make sure you are listening carefully. The best way to do that is to reflect or paraphrase what you heard her say before you comment on it. An example is, “What I’m hearing is that you are not certain that this product will serve your needs.”
