Monday, June 26, 2006

Sales Presentation Tip: The Elevator Speech

I frequently see a Google search with the phrase: "elevator speech financial advisor" or "financial advisor elevator speech". It seems to go in phases, sometimes I get close to one hundred inquires a month so I did a Google search and here are some of the leading thoughts on "The Elevator Speech." I just grabbed these randomly so there are no specific credits given.

One person says she is an : affluenziologist" who helps people transfer their values as well as their valuables to future generations.

Another quote: "I'm a money doctor. I make sick money well,"

Another: "My friends call me the financial farmer. I help my clients plant the seeds, nurture their crops and harvest the fruits of their labors when the time is right."

I don't know that I personally could of used these when I was an investment advisor but the test is this: Do potential clients get an a-ha moment or do they probe and ask more questions that eventually gets you an appointment and ultimately a client?

A real eye opener can be to ask your current clients why they do business with you-it may not be the reason that you think at all. From this information you may be able to construct that witty elevator speech that sets you apart from all others!

I don't think there is just one answer but as a consumer I would want to hear a statement that was filled with benefits for me-after all, as a consumer, it's all about me. I've told financial advisors before that they could feel free to steal one of my opening questions to audiences. I ask them how much the "average American" spends a year at Starbucks? The answer turns out to be between $1500 and $1800 a year. It's then fun to ask the audience to envision their current portfolio and ask them if their current portfolio throws off enough in interest and dividends to pay for their Starbucks outing? It gets audiences thinking about their "exit strategy" and how you might help them.

So, if I were a financial advisor crafting an elevator speech I might try to incorporate something along the lines of: I position my clients portfolios to generate enough income to pay for their Starbucks outings as well as the other necessities of life! Food for thought-I hope this information gives you some ideas for crafting those elevator speeches!

Steve Mertz
Elevator Speeches are mini Sales Presentations!

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Blogger Patrick said...

Asking clients why they do business with you is a great practice. I learned in a business sales training course one time that it is good to follow up and ask your clients these questions at 30/60/90 day intervals then again at 6 mos and 1 year. It helps for retention to know why they stay and also on the flipside helps to head off any potential problems that may arise that could lead to losing a client.

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