Global investment markets are challenging and it is clear that poorly prepared and skilled institutions will be casualties. This session focuses on the essential process of professional account development and new business acquisition– and why this is so critical in any market.
This session focuses on the customer’s personality and likely motivational needs both of which will determine their approach to relationships and environment. The inner personal states needed to cope with conflict and market conditions are also critically important as these typically are externalised when under pressure. Developing the participants’ abilities to influence the clients trust levels using verbal and non-verbal communication will be a key outcome. It will start with an analysis of poor “trust breaking” non-verbal communication then analyse the different interpretations and impacts of “weak word” choices that the participants may make to deal with a client’s situation. The session will finish with further practical exercises where participants will be asked to communicate with each other using the techniques discussed.
A quality new business development approach requires a systematic, organised approach and excellent record keeping. In order to achieve a quality first contact, forensic research needs to be completed on every potential target. It is impossible to do this with vast numbers of prospects and so our first priority to is to distil our opportunity base down to some “hot prospects”
A quality first contact, whether face to face or on the phone, is down to the quality of our forensic research.
Clearly, when making an appointment call or even when asking an existing high net worth client for a referral, we have to use a persuasive approach to gain the client’s commitment to give us that prospect name or introduction. For some of us this persuasive skill comes naturally but, for the rest, the good news is that it is a trainable skill! The first base is to be able to pinpoint the client’s position in their own psychological buying process then to understand what our role is in bringing it about.
Often, robust client targeting approaches are let down by inadequate, clumsy initial approaches to clients, and can lead to blowing the opportunity out of the water. The truly “cold” phone call really is a myth in terms of success – the best sales people know that this MUST be preceded by some form of introductory letter or other contact.
The phone call will determine success or failure – once we are in front of the client, our chances of doing business improve dramatically. No appointment NO DEAL!! This session will use a patented appointment gathering approach - “Procall” ® - that develops confidence and fixes quality appointments
This session focuses on encouraging participants to re-think the highly technical, expertise-driven product sale and to partially re-design it. Current client feedback surveys will then lead us to investigate further the actual Buying Process all clients go through; this element will give both new AND experienced sales people a real competitive edge by recognising what their role and approach should be with any client. Finally, the participants will be able to critically appraise a sales methodology that is trained across the majority of Banks and other financial institutions globally. The session will finish with participants defining a practical persuasion process that will engender trust and build relationship
A detailed case study will now allow teams to first analyse the client and make a short recommendation for the type of products and portfolio structure that the initial client research document would suggest. Our conclusions from this exercise will now allow us to prepare for the simulated face-to-face meeting with Mr Cowling.
Half the group (Team A) will now be given a more extensive briefing and be asked to prepare themselves to take the part of Mr Cowling. The objective will be to test the other half (Team B) to see whether, as the Bank team, they apply the questioning structure fully and actually gain a true picture of the client before building the needs, offering solutions and asking commitment questions.
This session will now look at how to structure our client recommendations into a powerful client proposal
The Negotiation toolbox consists of a fast run through of all the key skills needed to control a negotiation and the main pitfalls to avoid! HNWI’s have varying levels of sophistication and their portfolios reflect this. The most sophisticated clients will not only attempt to self-recommend but also will be committed to cutting management fees to the bone
The opportunity for the group to reflect on the learning imparted and how they will apply it in real life
