Source/Contribution by : NJ Publications
Financial advisors have to be master salesman; sales is where they get their bread and butter from. Though there isn't any set format for developing sales skills, or some theory which can be mugged to be good at sales; these skills come from experience and passion. There are people who have some specific skills or manner of handling clients, which make them better than their counterparts. There are some people who are doing really well in their business, there is a unique style of each such salesman. We have to keep our eyes open, even a Lehenga seller in Chandni Chowk can teach you a skill or two to be better in your task.
This is about a Wedding Lehenga shopping story of Richa.
Richa got engaged in June 2015, and since then the wedding Lehenga was the next big thing for her. The wedding was in October the same year, and she used to spare at least an hour of her day researching on the designs, the lehenga vendors, or the bollywood movies which had a wedding scene. So, after a thorough research she decided to go to Chandni Chowk and listed down six shops which she had to visit.
She along with her friend Ashima, went to Chandni Chowk to get Richa's Wedding Lehenga. It was 11 in the morning and as soon as they got down from the metro station, it felt as if it was a warplace, and the enemy was firing from all directions and she had to reach her target, making way, escaping from the bullets – the 'sales agents'.
Thanks to her research, she did not pay any heed to them, and managed to take a sidestep and reached her first target store 'Kamal Bhai'. It was a fancy shop in a dingy lane. So, as they entered the shop, there were about 10-15 customers, the owner of the shop came to them and greeted them very warmly. His first question: “have you been to the other shops yet?” Richa: “No, we have just entered the market” Kamal Bhai: “So, my suggestion is that you first go and explore other shops, because I know that you will buy your lehenga from me only. I'll book an appointment for you at 4:30 in the evening. Please don't be late” Richa: “Yes, please book a slot, we'll be there”and after this he offered them a cup of tea, even though they were going ahead in their search to other shops and might not return to him.
They went to four more stores and she liked some lehengas. She was in her second last store of the day, and she really liked one piece, for which the storekeeper quoted Rs 55,000 and said he could bargain a bit. It was 4:20 PM and Kamal Bhai's deadline was ticking in her head, and she did not want to buy this one without having a glimpse at Kamal Bhai's collection. So, she hurried up and reached Kamal Bhai in time.
They were tired and hungry, Kamal Bhai welcomed them very warmly, and they had a grand white couch to sit. He said, “Tusi Chandni Chowk aaye ho, Matar kulche ni try keete, Lehenga te baad che vi ho jayega, tusi pehla chain naal baith k khao” - “You have come to chandni Chowk and din't try matar kulche, Lehenga can be done later, you first relax and eat”, to which they readily agreed. He ordered matar kulchas for them and started asking for their budget and if they have anything specific in mind or if they have a whatsapp image, he could replicate anything. So they told him what their preferences were, and after finishing the meal, he started 'narrating' the lehengas. One by one, Lehenga's kept coming in and he had a big shot designer's name for each piece. His salesman also conveyed to them in a hush tone, “Kamal Bhai has the same artisans working for him as Manish Malhotra's”. She shortlisted three lehengas, one was for 89k, one for 79k and one for 65k. So, she told him about the 55k lehenga that she liked in the other store. He took a piece of paper and the prices of all those lehenga's came under 60k. She was elated and picked the most beautiful one for 56k. She paid him the money, and he whatsapped her a picture of her Lehenga, since you are not allowed to take pictures in these stores until to buy it, took the receipt, had another cup of tea at his store and left with a big smile and a sense of accomplishment.
Back on her way, she pondered why did she chose Kamal Bhai's Lehenga and not the one from the other store, he could have brought down the price further and that lehenga was equally beautiful. And there were so many other beautiful lehenga's in the market. The answer was simple: it was his sales skills that had cast a spell on her. We can juice out certain important points from this anecdote for our financial advisors:
- Like her Lehenga, your client's goals are very important for them. Don't ever take the goals lightly, the client will trust you only if you seem sincere towards his requirements and the products that you offer are fit for meeting his goals.
- Social Media: The secret to make clients look for you and not vice versa is making yourself known on the internet, try to get yourself reviewed. Be active on social media, have your own website.
- Don't harass your prospective customers by forcing them to come to you, like the Chandni Chowk agents. In order to create your worth in the eyes of the client, you don't have to pull the customer into your office by his hand, you just have to show him the gate and he will follow.
- Be confident like Kamal Bhai, if the client wants good service and products , he will come back to you, but make sure you have finished your homework before this. Make sure that you are good when it comes to service and the products you suggest are best suited for him.
- It was the attidude that Kamal Bhai had, that really worked. You have to be warm, polite and assertive at the same time. An advisor cannot be aggressive in his tone and wearing a frown on his face. He has to be calm yet fierce, so that the client is engrossed in your warmth and impressed by your assertiveness.
- “The way to a man's heart is through is stomach” - Kamal Bhai applies this principle to win the hearts of his clients. Hospitality matters in advisory business too, offering a cup of tea or even a small chocolate counts. Being courteous towards the client, or these small gestures will not cost much, but will significantly add to the pleasure for your client.
- Word of mouth works the most in advisory business. Richa was impressed when Kamal Bhai's salesman told her that he and Manish Malhotra share the same artisans. If someone else speaks for you, it is the best that can happen to you and your business.
- Value your time, decide a time to meet, which is suitable for both, you and your client. And make sure that you convey to him that you are taking out time for him from your busy schedule. As it is commonly witnessed that the clients do not turn up at the time of the meeting and at times don't even inform before. This casual attitude can be eliminated by stressing on the fact that though customer is the king, yet your time is precious too.
A lead converted into a sale and a satisfied client is what we all look forward to. The aim of this story is working towards our ultimate objective.
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