It’s timely that just after my last post - the one about selling is first determining if you have a motivated buyer, I got a cold call from a stockbroker. It reminded me of the commercial, “They only call you when they want to sell you something.”
Apply this to your selling and then send it to your stockbroker or one you know who’s trying to make more money.
Well, he opened with an intro of who he was, which was good. Then he went into saying something like he wanted to talk to me about my investments. So I said, “OK, I’ll give you some latitude.” Now I should have said, “I don’t really care what you want. I only care about what I want.” But I didn’t.
Then he said, “So what kind of investor are you – aggressive, moderate or conservative?” Now before he got further into his inquisition, – selling guru that I am - I said, “Hold it right there.” I introduced myself as a sales expert and told him about testing for buyer motivation. “After your intro, you should have ask me if I have any issues with my investments, portfolio, etc…, yes/no, that I want to do anything about …, yes/no, with someone new or other than myself …, yes/no?” I followed it with, “Your approach was self-serving and intrusive.” To which he said, “Thanks” and hung up on me.
So what's my point? I didn’t test for his motivation. I should have asked him if he was having any issues related to getting more customers ……, yes/no, that he wanted to do anything about …, yes/no, and did he want any help or coaching …, yes/no? See neither of us was motivated to buy what the other was pushing.
Now just think of the last time your broker called and asked at least if you were having any issues with your investments, etc? If he did, what would you say? I’d bet “Yes,” not because you want to buy more, but because, who’s happy with their investments? This would give your broker an opportunity to sell. A newbie will have to ask the other two questions. However, not to ask if I have an issue, and shoot with the assumption that I do have an issue, will meet rejection every time. So if he only calls when he wants to sell you something, give him a hot tip - but first, ask if he wants it.
Someone please ask me, “So, what do you say when you get no’s?”