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When I speak with advisors for the first time, they typically tell me, out of ten qualified leads they speak with, they usually convert two to four. It’s at this point I ask them a question that usually leaves them a bit stunned:
“What happened to the other four to eight opportunities that didn’t convert?”
They immediately start rattling off a list of reasons (other than themselves) as to why they didn’t convert.
“It must be them, it can’t be me,” they think to themselves.
Like most advisors, they’ve been conditioned to accept the idea that you can’t win them all, rarely taking a deeper look into why their prospects are not choosing them. After all, aren’t those conversion rates the norm? What’s the big deal if some of them don’t convert? Sales is supposed to be a numbers game, right?
When you accept the norm (average), you deceive yourself into believing that it’s okay to work twice as hard to get half as much — simply because your peers are getting the same results.
Most average advisors benchmark themselves against the industry averages. But imagine how much more profitable you would be if you converted all your qualified prospects in the initial meeting.
That alone would instantly remove hours of stress and wasted time that could better be spent growing your practice and helping your clients get the results they need. You could catapult your business forward and gain more control of your time.
If you want to be a superstar producer, who operates as a category-of-one business, then you must never accept the industry “norms” that are really barriers holding you back from achieving your full potential.
You may be thinking: “I would if I could, Ari, but onboarding everyone is impossible!”.If they are not qualified, then it is impossible. But if they are qualified, why aren’t they choosing you?
Your potential clients are coming to you with a problem, and you have a solution — it’s a straight line of sight. For someone to meet with you and leave without trusting you enough to make a commitment, is not their issue — it’s yours. It’s the “hole” in your sales process, stemming from the old mindset of selling, which decreases clarity and prevents them from trusting you enough to take the next step.
To shift to a top production level, you first have to look at yourself and accept that you are the obstacle, not them.
Your goal from now on should be to shift your mindset to create deep trust instantly, so you convert 100% of your qualified prospects — anything less is unacceptable — if you want to be a top producer.
If you’re ready to step up and defy your industry norms (averages), get your complimentary book and consultation below.
Ari Galper is the world’s No. 1 authority on trust-based selling and is the most sought-after high net worth/lead generation expert for financial advisors. His newest book, “Trust In A Split Second” has become an instant best-seller among financial advisors worldwide – you can get a Free copy of Ari’s book here and, when you click the “YES” button in the order form, you’ll also receive a complimentary “plug up the holes” lead generation consultation. Ari has been featured in CEO Magazine, Forbes, INC Magazine and the Financial Review. He is considered a contrarian in the financial services industry and in his book, everything you learned about selling will be turned upside down. No more chasing, no pressure, no closing.
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Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
