6 ways to close a prospect

It’s rare a prospect will say, “Stop talking, you’ve convinced me. Where do I sign?” Instead, you’ve got to ask for the business. So how do you do it?

If you know how to learn about the prospect’s goals and objectives, you can develop a proposal and present it. How do you go from presenting information to asking for the order? Here are a few phrases used by successful advisors.

• Are you ready to address the issues?
• Can you see yourself benefiting from the strategy?
• Can we proceed with the plan?
• Are you comfortable enough with the recommendations to proceed?
• Can I have your business?
• I want to work for you, and just need your go-ahead. Can I have it?

What do all six expressions have in common? They are closed-end questions. They all focus on the prospect by including the word “you”. Most important, the uncomfortable answer is no. (Read each question and answer no. How does it feel?)

Read: Six reasons a prospect will choose you

What happens now?

Sometimes new clients back out. Imagine you’ve persuaded your prospect. She signs the papers. Then you smile, pack up your briefcase and leave. The new client might think, “There’s a winner and a loser here. A smiling guy just ran out. What does that make me?”

Read: How do top advisors find prospects?

Consider this strategy instead: Congratulate her on making a good decision by explaining how signing with you will bring her closer to her goal. Next, review exactly what you will be doing together — reading back the order is standard procedure.

Then explain what happens next. “You will receive confirmations in the mail.” Ask her to call when her first account statement arrives. The initial statement may be unfamiliar, so say you’ll review it together.

Read: Prospect for clients online

Finally, take the initiative. Don’t wait for her to call to review the statement. Call when it should be in her mailbox or better, when it’s available online. This gets her into the habit of reviewing statements via your firm’s website.

Why take all this time after the client has said yes and handed over a cheque? Because you can win the sale and lose the relationship if you don’t keep in close touch afterwards.