Narrowing: A Powerful Technique in a Complex World
One of the most dominant trends in the financial services marketplace today is the integration of product lines – from brokerage and mutual funds to insurance and complex estate planning to solve complex client needs. The result is an increasingly complex sales process which can become bogged down due to the wide range of issues that may be addressed. To avoid this situation, it is imperative that you continually re-focus the sales process on the key issues by using a simple but powerful technique – narrowing.
Narrowing is simply the process of summarizing the key issues and benefits in a simple and systematic manner, enabling the prospect to focus on the important issues and your approach to solving them. After redefining the key issues, you can pursue commitment. The worst case outcome of narrowing statements is identification of client objections – information which is vital to closing the sale.
Remember, the more complex the sale, the more important narrowing becomes in helping you and your prospect maintain focus.image credit