Write Down Your Sales Process

Have you actually written down your sales process? It may seem like tedious work, but I highly recommend it.

Why? Because after we wrote out our sales process, it helped us to visually see what we could change to improve it. It also helped us get on the same page with all our advisors. When some advisors weren’t closing at the same rate as others, we had something to show to them that they could follow.

We try to close clients on second meetings. Here’s what our meeting process looks like this, but remember, what works for us may not work for you.

1. Establish pre-meeting setup to define time, attendees, expectations, flow, and outcome. Define $$$ required in order for it to make sense FOR THEM.
2. Send a video email reminder
3. First Meeting
   • Establish rapport
   • Disarm
   • What inspired them to meet with us?
   • Review pre-meeting agreement
   • Discuss the three levels of service investors look for when hiring an advisor; explain that we are the premium level
   • Get their permission to identify potential areas of concern in their portfolio
   • After you identify gaps, ask them about their additional concerns
   • Do they feel that this is definitely NOT a fit?
   • If they think it might be a fit, discuss the flow of the second meeting and review the approach given what we’ve learned (which isn’t a full-blown plan and investment strategy since that’s what we do for clients)
   • Ask what two or three things (now that we removed the detailed investment plan) they would like to discuss next time so they can either move forward with us or decide we’re not a fit
4. Second Meeting Prep
   • We create a financial goal analysis (FGA)
   • We evaluate risks in their current portfolio (risk analysis)
   • Prepare for the two or three things they want to discuss
   • Send a video email reminder
5. Second Meeting
   • By the end of our meeting, we’ll either conclude that we don’t have a fit… “Would you be OK telling us if YOU don’t think it’s a good fit?” or if it looks like we have a fit, we’ll lay out the steps for us to begin working together. But, we’re not there yet…
   • We discuss holes in their portfolio
   • We discuss our philosophy and approach
   • Recall the three levels of service… “Which level interests you? Why?”
   • Based on what we discussed, is this NOT a good fit for you?
   • … “Would you like our help?”

If we must do a third meeting, it is usually to make adjustments to the plan. However, we really try to avoid it. If it gets to a third meeting, either we haven’t done our job well enough to resolve their concerns, or they just are gathering as much info as they can so they can do it themselves.

If you don’t have your process written down, here is how you can start:

1. Define your target audience: Determine who your ideal customer is and what their needs and pain points are.
2. Identify your unique value proposition: What makes your product or service unique and how does it solve your customer’s problem?
3. Define your sales stages: Determine the steps involved in your sales process, including initial contact, qualification, presentation, handling objections, closing, and follow-up.
4. Outline the activities and tasks in each stage: For each stage, specify the activities and tasks that need to be completed, such as conducting research, making calls, sending emails, or setting appointments.
5. Create sales scripts and templates: Write out scripts and templates for each stage of the process, including what to say, how to handle objections, and how to close the sale.
6. Train your team: Provide your sales team with training and support so that they can effectively execute the sales process and achieve desired results.
7. Continuously refine and improve: Regularly review and revise your sales process to identify areas for improvement and optimize results.

Let us know how we can help. We can review your process and help you implement it throughout your team.