I regularly meet people from Mutual Funds, Banks, Insurance companies and Stock Brokerage Firms and all of them usually have a deep desire to increase sales and attract more clients. Here are some of the strategies that I share with them that have potential to bring in phenomenal change. I personally use all of these and have benefited immensely.
1. Show Real Benefits To The Customer
Show the customer a real and tangible benefit on why they should buy and invest in your offering. Make it realistic and completely honest. And the best way to show this real benefit to the consumer is to bring in other real world customers and people to speak and share their positive experiences.
For instance, a large fund invited some of its most satisfied clients to speak to potential HNI investors. These were real people who had made incredible returns over a period of 10 years with real stories to share.
The result of that experience was increased trust amongst potential investors and an incredible increase in new clients and sales.
2. Simplify Things for Your Customer
Your customers do not spend the same amount of time in the world of finance that you do, and you need to simplify everything for them. The simpler it is, the more easily they understand the benefits, the less fear they have.
Once they understand the benefits and get rid of the fear, they will readily buy your product.
People don’t invest because they don’t understand what is being said. This brings in fear. Once fear comes, people decide to stay away.
For instance, I was once invited to speak to a group of high end restauranteurs and hoteliers. When it came to talking about investing in Mutual Funds, I shared examples of how a Mutual Fund or Stock is like Wine – the longer you keep the wine, provided it is the right kind of wine, it appreciates. The same applies to Mutual Fund or Stock investments. If it is the right stock or Mutual Fund, over time it will appreciate.
This ensured these people didn’t exit their investments.
3. Share A Story
Nothing sticks better than a story. When you share a story, people remember it much better. If you want to market a product or investment, share a real story around it.
So if someone invested in your product ten years ago, and after ten years made so much money that they got their daughter married with the invested returns – share the story. Or share a story of how someone bought a beautiful house or a fancy new luxury car thanks to your product and the joy it brought to your clients. Make the story real and share names, pictures and videos. This ensures people think both with their emotions and logic.
This strategy works so well. I use it all the time for explaining everything.
4. Go Where Your Clients Go
Today the penetration of people investing in financial products in India is very low. You need to go where your customers go and create an experience which adds value to their life. Simply putting up a kiosk outside a movie theatre will not give you the desired results.
Creating an experience around that person at the movie theatre where you make them realize real benefits will give you great results.
So imagine, giving people at the movies the option to watch movies for free for the rest of their life if they simply listen to your story and give you access to meet them at a later date and time.
5. Make it Fun and Entertaining
The more you make things fun and entertaining, the more people love them and are attracted to them. The world of finance looks extremely dry and boring and that is why millions and billions of people are not attracted to it.
But if you think about it, money and wealth are extremely sexy and attractive. They are fun and entertaining. They form the basis of everything we do. You need to bring in the element of fun and entertainment to ensure more people are attracted to investing.
This is what I love doing. People get so excited and are surprised to find how entertaining the world of business and finance really is.
6. Remove Fear From Your Customers
Make sure people get rid of the fear. People have heard or experienced lots of horror stories when it comes to investments that haven’t been the best. Make sure you get them to get rid of their fears by showing how your product is different from all the others that have made them fearful.
And do make sure your product adheres to the highest ethical standards so that your honesty and intention are conveyed to the client.
7. Activate A Virtuous Cycle
The theory of Karma is the most powerful and works all over the Universe – specially in business. The more good you do for your clients, the happier you make them – the stronger your virtuous cycle becomes.
Clients who have benefited automatically will speak about your great product and services and you will end up attracting many more.
Make sure your people are empowered with the above skills and make it a part of their culture. This will ensure great success in every field.
Keep smiling – especially now that you are empowered to sell more and make higher profits!
Yogesh Chabria is a bestselling author, entrepreneur and educator. He is the founder of the much loved Happionaire™ Way that has influenced and transformed countless people from over 100 countries. Do Subscribe to his free blog on www.happionaire.com
The above article was featured in the BSE Forum Views Magazine - September, 2016 Print Issue.