 
By Linda Richardson
While advisors must listen and learn during their
first contact with a client, it is also critical that they "give"
during this meeting. Advisors with the right "give-get ratio"—the
percentage of the time they spend talking compared with the time
the client spends talking—encourage their clients to schedule
a follow-up meeting because they perceive the advisors’ value.
Let's look at some ways to develop a give-get
ratio that will help you create the impression you are a value-added
player.
Prepare
As you open your conversation, leverage and concisely position your
preparation. Statements like "I've spoken with your team …
It would be very helpful to understand … and before sharing
some ideas …" can help accomplish this goal.
Demonstrating the fact that you are prepared gives
you credibility and earns you time.
Map out your call
Your call map has four components. The first is the opening, during
which you build rapport based on the homework you have done and
the cues you recognize. In the opening you also spend one-and-a-half
to two minutes outlining your credentials and those of your organization,
and you show that you are prepared.
The second component is the "need"
dialogue. During your first call with a client or prospect, plan
to spend most of your time learning about the client's needs, drilling
down to learn more and taking notes. The third map component is
positioning. At this point you begin to position your capabilities
relative to the needs you have uncovered. Be sure to use examples,
tailor key features and benefits of your products and check for
feedback from the prospect or client.
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Advisors with the right "give-get ratio" encourage
the client to schedule a follow-up meeting.
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The final component is the closing. End on a specific
next step, whether it is to meet an additional or senior decision
maker or ask for the business there and then, as appropriate.
During your first contact with clients, they
expect to provide you with fundamental information and lots more—if
you ask for it. By positioning your preparation and asking effective
questions, you earn the right to that information.
Once you understand your client’s needs,
you can briefly talk about your capabilities in these areas. You
must show that you grasp what the client has said and you have experience
in that area. Instead of saying, "Let me think about it and
get back to you," you should say something like this: "Let
me give you some ideas on how we might be able to … "
Of course, often you will have to go back and
refine your thinking, but during the client meeting you must show
the potential value you can bring.
Manage your give-get
ratio during the dialogue
During a first call, you must "get" dialogue from the
client about 70 percent of the time and never less than 50 percent
of the time. For subsequent calls, 50-50 is appropriate.
You must "give" dialogue—the
time you are asking questions—about 30 percent of the time.
One way to do this is to trade information when you ask questions.
This will show the client you have insights as well as strategic
and technical substance. For example, you can say to the client:
"We are seeing a move to … with many of our clients.
How are you handling that?"
Use the first call to take a giant step toward
closing. To accelerate your close, end each subsequent meeting with
the next step firmly in place so that you are poised to keep moving
forward until you close.
Linda Richardson has more than 25 years of
sales development and training experience. She may be reached at
215-940-9255 or info@richardson.com.
April 2005
A Lesson
Twice Learned
Converting
Prospects into Clients and Clients into Advocates
Success
in a Small Town
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