Buyers Are Sometimes Ready Now
One of the top mutual-funds salespeople I ever met had spent years
developing his sales presentation. It moved from the general to the particular. It
included every benefit that an investor could enjoy from a mutual fund. By the
time the presentation was complete, it included thirty-two different points at
which he could close the sale.
What he told me was that every prospect is either very close to buying when
he meets the salesperson for the first time, or very far away. Actually, most
prospects are somewhere in between. Some prospects only need one or two
reasons to say yes. Other prospects require a much longer sales process before
they are ready to buy. His sales presentation was designed to be effective with
any prospect he met at any stage of the buying cycle.
Ask for the Order Early
Sometimes he could close right at the beginning with a highly qualified
prospect. In his mutual fund presentation, he would start by asking a question
such as, “Would you like to see a way to get the highest return on your money
with the lowest possible risk in the market today?”
If the prospect said yes, my friend would take out a piece of paper and draw
two circles. He would say, “Mr. Prospect, these two circles represent what you
can do with your money. If you put your money into the first circle, into a
traditional savings account, you can earn 3 to 5 percent on your money before
taxes. Isn’t that right?
“But if you put your money into the second circle, into a well-managed
mutual fund, you can make 10 to 15 percent on your money and pay no taxes on
the money until you withdraw it. Which of these two would you prefer?”
Often the prospect would say, “Well I would rather get 10 to 15 percent on my
money.”
The salesman would say, “Great! Why don’t we get started right away?”
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