Have you ever watched a movie or read a book? If so, then you’re probably familiar with the technique of foreshadowing — and this can be helpful for even those who aren’t directors or authors.
It’s almost impossible to find a movie or a book that doesn’t use foreshadowing. By showing a person, a weapon, a comment, or a concept early in a story, the director or author can bring that element back later on and have it make sense. Without foreshadowing, the introduction of that element might seem harsh or unexpected. When it comes to insurance business there are three specific ways you can use foreshadowing — all of which can have an effect on your bottom line.
1. Getting clients to hire you
Disclaimer: I don’t like the phrase “closing the sale,” because in the financial services world, you should never think in terms of closing. You should instead think in terms of opening a relationship that will continue for a long time — that is, if you want them to do more business with you and refer you to others. So, instead of “closing,” I’ll use the term “confirming” (for confirming the start of the new relationship).
The best way to demonstrate how you can use foreshadowing to motivate a client to hire you is through a couple of sample conversations. Everyone’s situation is different, so use these sample conversations as a guideline only, but I think you’ll see how foreshadowing the confirmation will make it easier for you to ask for the business.
- The foreshadowing: “Today is a chance for us to get to know each other a little bit more and to make sure we both feel comfortable moving forward. The next time we get together I will have quite a few questions for you to assess your current situation and your financial goals. I will use that information to formulate my suggestions of ways I can become a valuable resource for you. After I explain my recommendations, I’ll check in with you to see if it makes sense for us to begin working together.”
- The confirmation: “Well, George, I guess we’ve reached that time I mentioned during our very first meeting. From what I’ve presented here today, I believe I can be a great resource for you. Shall we move forward on these recommendations?”
2. Getting clients to follow your advice
Most people will procrastinate making financial decisions. In the following sample conversation, you’ll see how you can strongly encourage them to accept your recommendations without pushing too hard.
- Foreshadowing your leadership role: “George, one of the ways I believe I can best serve you is to take a ‘leadership role’ with you. Think of me as your financial quarterback. When I see something that you should be doing with regard to your finances, I’m going to tell you. It’s my job to point out important things to you, to question your assumptions, and to sometimes hold you accountable for doing the things you know are important. And this will always come from a place of care and concern for you and your family. Are you OK with me taking on that role?”
- Assuming your leadership role: “Well, George, I think we’ve reached one of those places where I feel compelled to assert myself as your financial quarterback. We’ve discussed the importance of long term care insurance for you, yet you seem to be procrastinating on this. Can we explore this a bit? I want to make sure you do the right thing for yourself and your family — so I’m going to ‘call the play’ and see what we need to do. Tell me your current thinking on this issue.”
3. Getting referrals
Another way to use foreshadowing is in the referral process. You can foreshadow a possible request for referrals later in the relationship. Then, when the time is right, the referral question will not come as a surprise to your clients, giving you more confidence to ask.
- Foreshadowing referrals: “George, as we begin this discovery process, I want to alert you to something that may happen. Quite often, as I go through this process, my clients think of other people in their life and wonder, ‘Should my parents do this?’ or, ‘Did my sister do this already?’ If that comes up for you, take a moment to let me know. Then, near the end of the meeting, we’ll see if it makes sense for you to introduce me to anyone you may have thought of. How’s that sound?”
- Asking for referrals: “George, we talked about a lot of very important things in our meeting today. What stands out as the most important things we discussed? [Wait for the client’s answer] I’m glad you’re finding value in this process. And, of course, there is more work to be done. At this time, I’m wondering if you’d be open to a little exploration to see if we can identify some people you care about who should know about this valuable process. Can we do a little brainstorming?”
Trying all three of these approaches can help make your recommendations and your referral-seeking less abrupt, increasing your chances of success.
Bill Cates is the president of Referral Coach International and author of “Get More Referrals Now!” and “Don’t Keep Me a Secret!” He can be reached at info@referralcoach.com.