For many people in banking, selling doesn’t come easy. I know from my own experience that trying to sell a service is difficult simply because it’s so intangible. And how can you get the client to see the value of something that doesn’t really exist in a form that they can see? Add to that the problem that all bankers face – the product is really not that different to the competitors’ most of the time.
The answer lies in the way that you approach the “sale”. Obviously, there are times when it’s easy because the client comes to you and asks for a particular product or service. But what happens when you go to see a client to do an annual review or maybe it’s a call on a prospective client who doesn’t even bank with you yet? In those cases, the sale opportunity is not so clear-cut.
So, here’s my advice. Don’t be a seller, be a solver. If you approach the opportunity with a view to making a sale, the chances are that the client will see through that approach and put up the defences. But if you go with a view to solve a problem, it’s more likely that the client will feel that you’re on their side and you’re genuinely trying to help. With any luck, that will also differentiate you from their existing bankers if they’re a new prospect.
The only way to get someone to accept anything is to have them see for themselves that what you propose is to their benefit – you already know about the difference between product features and benefits. Tie that to a strong desire to solve a client’s problem and you put yourself in the best possible position. Sure, it’s not a magic bullet and not everyone will buy, but the majority will. Just keep asking those questions to uncover the problems, then offer your solution.