Latest Poll – Sales Techniques

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‘Old school’ sales techniques are far less effective when engaging with the consumer of today.
  • Disagree (52%)
  • Agree (36%)
  • Not sure (12%)

Our latest poll asks you to consider whether historical selling techniques attributable to life insurance and financial advice have a place in today’s consumer world.

While the advice sector collectively laments the disappearance of ‘soft skills’ learning from the armoury of many of today’s financial advisers, the focus of this poll rests rather on the nature of a sub-set of sales techniques often employed by financial advisers in the past – techniques which business consultant, Tony Vidler, effectively says have no place in the current advice environment (see: Old School Sales Techniques Less Effective).

In today’s consumer world, Vidler suggests what advisers often fail to appreciate is the emotional journey the client is going through during the advice process, and that what he refers to as the ‘old-school’ method of objection handling sales techniques holds little-to-no value at this point in today’s customer buying journey.

…ALL financial advisers remain sales people, at least to some extent

We preface any further remarks by suggesting that ALL financial advisers remain sales people, at least to some extent, and this applies even to those who are in denial over this fact. Secondly, Riskinfo sees empathetic soft skills as a critical component within the skill set of all advisers – at least for those who genuinely seek to understand their client at a deeper level and to serve those needs.

When it comes to life insurance advice, an historic collective industry wisdom suggests life insurance is a grudge purchase proposition which must be sold – a proposition which is rarely pro-actively bought. Disturbing the prospective client comes with this territory – at least historically – and such objection-handling and other sales techniques can equally apply to other areas of financial advice.

Do you subscribe to the fact that such closing strategies and other sales techniques – the ones to which Tony Vidler is referring – should still have a place in the consumer world of today? Or do you think the consumer psyche itself has changed over the last generation or so, and that some financial advice sales techniques which may once have ‘worked’ are no longer of any value or are no longer acceptable?

We’ll be interested in your feedback and will report back next week…



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2 COMMENTS

  1. “If one doesn’t ask the right questions, one will never get the right answers!”
    Many of us have been mentored and taught by the best of the best in our great business, and have continued to pass on this legacy to the younger financial advisers. This will continue as the ethos of sharing and caring in our business continues.

  2. Wholeheartedly agree with the commentary here by riskinfo. Very well said. Not Vidler’s comments, risk info comments above. Old school still offers tremendous value for advisers and clients alike. Shame the newbies won’t have anyone left to personally teach and coach them through these career building talents. We can thank those certain insufferable ‘entities’ who forced them from the industry, enmasse, over the past few years.

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