FundingStrat™

 

Dale Laszig has written a terrific article on the Green Sheet about education and training.   What is driven home is exactly what the article’s title states: you learn more, you earn more.

 

Sean Murray, president and chief editor at deBanked, makes great points about education for sales agents being paramount to their success. If knowledgeable about the diversity of financial products, and their distinctions from one another, agents can “help customers make informed decisions, which allows them to close more deals.”

 

Customers’ trust in the person, brand or company they are working with is routinely the number one driver, by survey results, of their decision to buy initially, and to be loyal through long-term relationships.

 

In other words, the customer’s trust in who they’re working with is the most important factor in first acquiring that customer, and retaining that customer’s business through a long-term relationship.

 

What is the number one driving factor in the customer’s trust?

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Rubin “Hurricane” Carter was at the height of his boxing career in the mid 1960’s, a top contender for the middleweight title.  His life changed dramatically almost overnight when he was wrongly accused of a terrible crime (triple homicide), which he did not commit.

 

He was unfortunately found guilty by a biased jury and sentenced to three life sentences. Although extremely painful, Carter committed himself to never give up the last thing he had control of: himself.

 

“I am not and never will be powerless” was the declaration he made on his first day in prison.

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When to use it?

 

After deploying the Utility Close and hitting resistance because the merchant is unsure of how he’ll put the funding to work.

 

What does it sound like?

 

“Once you get the funding in place and you get that (insert Key Business Outcome), what’s the impact on the business you’ll  drive?”

 

Ex:

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What does it sound like?

 

“We’re already working with someone else!”

 

Where does it typically tend to show up?

 

Prospecting Call, making contact with a lead for the first time.

 

What do we do with it?

 

Turn around.  Key Objective: to turn around the objection, engage the lead further, and continue to guide the lead through the sales process to ultimately close and fund!

 

How do we turn it around?

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Todd at deBanked has written another great piece about merchant relationships.

 

Important factors Todd found that drive positive long-term relationships are:

 

Pricing

 

User Experience

 

Speed

 

Efficiency

 

Trust

 

A survey on B2B sales conducted by Invesp resulted in some pretty interestingly related insights:

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