Leverage Volatile Markets into Increased Sales
One of the most often stated questions in the financial services marketplace is: “What do you think about the market?” Certainly, with the dramatic swings seen in the indices during recent weeks and interest rates below historical norms, many fear another recession at best or a 1929 redux at worst.
Understanding these concerns, turn them into an opportunity by proactively discussing current market conditions. HOWEVER, apply sound sales skills in initiating the conversation. Don’t make personal prognostications about the future of the market – you have a 50% chance of being either wrong or contradicting your client/prospect’s viewpoint (a no-win situation).
Try the following approach instead:
Create Doubt – “How are you (or your advisor) addressing current market conditions in managing your portfolio?”
Establish Interest – Couple this question with well-thought-out comments about current market drivers.
Create Urgency – “Given the current levels of volatility in the market, would you like to find out more about how we can help?”
Don’t let today’s volatile market conditions be an obstacle to your success; turn it into a competitive advantage.