Financial Advisor Training: Closing the Deal With 3 Simple Sales Closing Techniques

Interested in closing the deal with greater frequency and predictability?

Tired of using sales closing techniques that don’t work from insurance and financial advisor training sessions that do nothing more than blow hot air?

You’re in the right place.

This blog post is 100% meat…ZERO filler.

And if you’ve got 7 minutes, I’m going to show you:

  • 3 POWER statements that grease the skids and move deals to CLOSE.
  • A no-fail ultimatum to force tire-kicking prospects to make a decision.
  • The 2-part close technique you can deliver in 7 seconds or less.
  • A powerful close strategy that REASSURES skeptical prospects and clients.

And that’s just the start….

Will you give me your undivided attention?

3 Power Statements for Closing the Deal

Sales closing techniques are a dime a dozen in our industry. 

The problem is that most of them are overused and/or are nothing more than shots in the dark.

If you want to close more deals, you need proven tactics that are based on human psychology and persuasion. 

I’ve got three of them for you right here:

‘2 Kinds of People’ Close

The first time I heard this sales closing technique, I was at a financial advisor training and marketing seminar many years ago.

And ever since I first heard it, I’ve thought it was just brilliant.

It basically presents a scenario where there are two options. 

It paints a clear line of demarcation. The prospect has to choose which type of person they are.

I feel like it’s best used when you’re getting within reach of closing the deal and you need to pull out one of the more powerful sales closing techniques in your repertoire. 

The formula looks like this: 

There are two types of people in this world: those who [INSERT A COMMON ACTION OR BELIEF PROSPECT HAS WHEN THEY ARE SHOPPING FOR YOUR SERVICE], and those that [ACTION  RELATED TO MOVING FORWARD AND MAKING A DECISION OR ENJOYING A POSITIVE  OUTCOME].  

Any time you find yourself in a situation where closing the deal is imminent, but there’s still a little pushback, you can pull out this line and slip it into the conversation

It’s great for life insurance, annuities, financial advisory services, IRA and 401k rollovers, employee benefits…anything!

You’ll want to mold it to the specifics of the conversation you’re having with the prospect or client on the other end of your phone call or Zoom meeting, but here are some examples:

  • “John, there are two different types of people in this world: Those who judge something before they’ve even tried it and those who are willing to try something and then form an opinion based on their own experience.”

Have someone who is a self-doer and/or highly skeptical? What about somebody you’re showing a brand new idea to? (Like infinite banking or a new tax planning strategy). This is the perfect statement for these scenarios.

  • “There are two types of people in this world, Amy: Those who leave their financial success in the hands of chance and those who decide to take responsibility for their actions and architect their own futures.”

This technique is ideal for getting rid of tire-kickers and making them reach a faster decision point so that you can save each other time. They’ll either move on and continue searching Google for a satisfactory answer that fits their agenda, or they’ll decide to work with you.  

  • There are two types of people in this world: Those who resist change in favor of nostalgia and those who see the writing on the wall and move with the times to create a better future using modern tools.  

Have an old school prospect who can’t seem to move past 1992? Help them understand that what used to work, might no longer be effective. Use this technique to gently prod people who resist change.

Finishing the ‘2 Kinds of People’ Close

It’s up to you to decide how direct you want to be, but sometimes I like following this closing statement up with a simple question like: 

  • Which kind of person are you?
  • Which kind of person would you say you are, Amy?
  • Based on our conversation, I think I know which kind of person you are.

How’s that for closing the deal?

If/Then Technique

This technique can help your prospects see (in very simple terms) what the positive outcomes will be when they decide to buy life insurance from you or rollover their portfolio from another advisor.

It’s a simple formula where you present an ACTION followed by a POSITIVE OUTCOME. 

It looks like this:

If you let us [WHAT YOU DO FOR CLIENTS], then [REACTION THEY ARE GOING TO HAVE AFTER THE PROCESS IS FULLY IMPLEMENTED AND THEY ARE ENJOYING THE BENEFITS].

The outcome can be a positive or negative emotion, so long as it’s true. You’ll have to decide which approach will be most effective in closing the deal.

Here are a few punchy if/then statements to throw into your arsenal of sales closing techniques:

  • If you decide to give this a try, then I promise you won’t be disappointed.
  • If you don’t do something this year, then I’m afraid premiums could go up soon. 
  • If you give me a chance as your advisor – like 57 other couples already have – I’m confident you’ll thank me later.
  • If you put this in your portfolio, then I am certain your spouse will thank you later. 

The If/Then Technique is effective across all mediums, including LinkedIn, virtual sales meetings, in-person meetings, phone sales presentations, etc.

‘Don’t Worry’ Strategy

Do you know the story of runner Roger Bannister in 1954?

If you’ve never heard the complete story, I’d encourage you to do a little research. The account of how he became the first human to break the four-minute mile barrier is one of the more interesting and motivational events in recent history.

But it’s also a powerful snapshot into the human psyche.

See, people had been striving to break the elusive four-minute mark since as early as 1886. But no matter how hard they tried, it just couldn’t be done.

Then when Bannister barely broke it with a time of 3:59.4, the floodgates suddenly opened. 

Just 46 days after his record-setting feat, Australian John Landy broke the barrier again with a time of 3 minutes and 58 seconds.

Then a year later, three more runners joined the club. 

And over the last 50 years, more than 1,000 people have run a sub-four-minute mile.

The moral of the story? Once we see somebody else do something, it gives us a sense of possibility. 

I like to teach the ‘Don’t Worry’ Strategy whenever I’m doing financial advisor training or marketing strategy sessions, because it’s dead-simple – and it flat out works! 

The formula looks like this:

Don’t worry, most people in your shoes [INSERT ACTION YOU WANT PROSPECT TO TAKE],  knowing that [INSERT STEPS THAT HAPPEN AFTER THE FIRST ONE THAT LEAD TO THEIR  DESIRED RESULT].  

And here are two examples you can use/tweak to fit your next sales call:

  • What most people do is place a small order with XYZ policy, then once they see that they’re completely covered, they usually ask us about life, disability, and other products to protect them.
  • What most people do is complete the forms with me here today. You then receive your welcome pack and we get you booked in for a launch. 

Sales closing techniques like this work, because they’re rooted in basic human psychology. Keep this one on a sticky note at your desk and go to it often.

Closing the Deal With Virtual Sales Meetings

In order to implement the sales closing techniques I highlighted in this article, you have to put yourself in situations where you’re interacting with prospects and clients.

In today’s world, that means virtual sales meetings.

My question to you is: How comfortable are you with virtual meetings?

If you’ve been hanging around the Advisorist blog much over the past year, you’ve learned a lot. 

But it always helps to have a few more tactics in your back pocket.

Provide your name and email in the form below and I’ll send you my 44 BEST tips for crushing it with virtual meetings so that you can set yourself up for supercharged growth over the next 12 months.

 

 

Free Insurance & Financial Advisor Training

Every week, hundreds of advisors gather for what’s quickly becoming the best insurance and financial advisor training workshop in the industry.

We cover in-depth sales closing techniques, marketing strategies, virtual meeting tactics, sales funnels, and prospecting cheat codes….

And it’s all FREE!

That’s right…it won’t cost you a dime.

The only trick is that, unless you’re an Advisorist MAX member, we only do these LIVE.

No recordings and no do-overs.

Add it to your calendar by clicking HERE, and show up every Wednesday afternoon at 12 noon ET …

Jeremiah Desmarais

Jeremiah Desmarais

Jeremiah is the founder and CEO of Advisorist® and is a 23-time award winning financial marketer, a TED speaker and philanthropist. He’s been featured on Forbes, CNN, and Worth. His work has generated over $2 million insurance leads and helped advisors in over 51 countries generate over $300 million in sales commissions. He is the author of the best selling book, SHIFT.

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