The Sale Hinges on a Split-Second Decision

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

Advisors are conditioned to believe that the more “runway” they have with a prospect, the more time they’ll have to show them enough value to make their hiring decision.

But is this true?

The average conversion rate of advisors proves otherwise.

The long and complex advisory sales process, in which educating your prospect is the centerpiece, convinces less than three out 10 qualified prospects on average to become clients.

If you’re investing your time and energy with multiple conversations, you’re only lowering the number of new paying clients you’ll be acquiring.

Why is that? Because the choice to hire you is a split-second decision, which the prospect makes silently in their mind during their initial conversation with you. It's internal, not external.

Most of your prospects are in shopping mode.

They’re out to gather information, speak to a few advisors, then go away to contemplate a decision later.

They’re completely unaware that their process can be convoluted (which is why they’re still shopping).