Selling To Couples€¦ · Spender Saver Enjoy Future Take Action Opportunity Seeker Enjoy Now Source: Buchanan Marketing Money Personality Test and Selling Financial Services to

Holly Buchanan • Marketing to Women Consultant

Selling To Couples �How to Close the Sale with Two Different Decision Makers

Copyright 2015 Buchanan Marketing



Scenario #1

Youaremee)ngwithacouplewhoownabusiness.Oneismuchmoreriskaversethantheother.Oneisreadytotakeac)onbuttheotherjustkeepsaskingques)ons.



Scenario #2

Youmetwithaprospec)vecoupleandthoughtyoudidagreatjobofconnec)ngwithbothspouses,buttheychosetoworkwithadifferentprofessional.



Scenario #3

Youiden)fyacrosssellingopportunityandintroduceyourclienttoacolleague,butnosaleismade.



Different decision making processes

Differentgoals/priori)es/obliga)ons/criteria



Notallmenthinkalike,notallwomenthinkalikeDifferences“ingeneral”

Decision making styles and gender



Top questions - Men

•  Whatareyourcreden)als/exper)se?

•  HowwillIendupwithabeJerresultifIworkwithyouvs.someoneelse?



Top questions -Women

•  Doyouhavemybestinterestatheart?

•  Doyouknowwhatmybestinterestis?



Women want accounts in one place

•  33%ofwomenwanttohavealltheirfinancialrela)onshipswithasinglebank

•  60%ofwomenhaveconfidencetheirprimarybankcanfulfillalltheirfinancialneeds

Source:2012MasterCardStudyhJp://insights.mastercard.com/posi)on-papers/ladies-first-why-women-are-the

key-to-rela)onship-banking/



Opposites Attract



Couples’ decision making styles

Think It Through

In Control Freedom Seeker

Security Seeker

Spender Saver

Enjoy Future

Take Action

Opportunity Seeker

Enjoy Now

Source: Buchanan Marketing Money Personality Test and Selling Financial Services to Women by Holly Buchanan



“Tell me more about why that’s important to you.”

Provideclarity,nottherapy





Scenario #1

Youaremee)ngwithacouplewhoownabusiness.Oneismuchmoreriskaversethantheother.Oneisreadytotakeac)onbuttheotherjustkeepsaskingques)ons.

Take Action/Opportunity Seeker (men) Vs.

Think It Through/Security Seeker (women)



TakeAc)on/OpportunitySeeker(men)vs.

ThinkItThrough/SecuritySeeker(women)

NOTE: Women can be Take Action/Opportunity types Men can be Think It Through/Security Seeker types



Take Action/Opportunity Seeker



#1 – Focus on immediate reward

Reward motivated – less risk aware



How to ask for a follow up meeting

•  “Tonightwe’vetalkedalotaboutestateplanning.Ifyouhaveques)onsaboutyourop)ons,anextstepwouldbetosetupacomplimentaryini)alconversa)on.”

•  What’sthereward?



What is the reward for attending the meeting

•  “Thegoalofthemee)ngistoiden)fypoten)algapsinyourplan.You’lleitherwalkawayfeelingmoreconfidentinyourcurrentplan,oryou’llwalkawaywithaclearunderstandingofhowwecanworktogethertocreateataxefficient,well-planned,meaningfullegacy.”



#2 - What you know that they don’t

You Your client



What Take Action/Opportunity Seeker clients want to hear

#1-Talkaboutrewards/opportuni6es• “Iiden(fyopportuni(esyoumightnotknowabout.”• “Ilovebringingnewideastomyclients.”• “WecreateProac(vefinancialplans.Westayontopofchangesandnewopportuni(es.Webelieveinbeingproac(veratherthanreac(ve.”

#2-Shareyourexper6se–whatyouknowthattheydon’t• “Acommonmistakepeoplemakeis……..”• “Thisworkisexci(ng.Ilovelearningthelatestabout(areaofpassionorexper(sei.e.alterna(veinvestments).”



Scenario #2


Answer his unspoken question



“Whatexper(sedoyoubringthatIdon’thave?”

.

24

§  Public Sales Management Workshops •  April 12-13, Hilton Suites Chicago •  September 20-21, Hilton Suites Chicago

§  Coaching the Conversation •  December 17 – Presence

Make 2016 the year of Insight



Think It Through/Security Seeker



#1 – Address concerns/preventing problems/What Ifs



Say This Not That

Good

•  Whatareyourfinancialgoals?

Bad

•  Don’tworry.

Be@er

•  WhatdoyouNOTwanttohappen?

Be@er

•  Tellmemoreaboutyourconcern.



#2 – Answer and welcome their questions







Loan Application Men

•  HowmuchcanIqualifyfor?•  What’sthebestrate?•  HowsooncanIgetthemoney?

Women

•  WillIqualify?Forhowmuch?•  Whichcreditop)onisrightforme-

Creditcard/lineofcredit/loan–andwhichtypeofloan?

•  Whatinforma)ondoIneedtoqualifyforaloan?

•  HowwillIbejudged?•  WhatcollateraldoIneed?•  WhodecidesifIqualify?•  Whatwilltheexperience/processbe

like?



Say This, Not That Don’t

•  Therearenostupidques)ons.

Do

•  Iloveques)ons.That’swhyI’mhere.

•  Myjobistomakesurepeoplewalkoutknowingmorethanwhentheywalkedin.



#3 – Share your values – �Why you do what you do



What Think It Through/Security Seeker clients want to hear

#1–Uncoverconcerns/preventproblems/Compare“whatif”scenarios• “Let’slookatwhatwouldhappenif……….”(marketgoesupandmarketgoesdown)• Ask–“Whatwasyourexperiencewithpastfinancialprofessionals?”#2–Answerandwelcomeques6ons#3-Shareyourvalues• “Ilovemyjobbecause…”(Sharewhyyoudowhatyoudo)• “Thehighestcomplimentsmyclientsgivemeis……”



Scenario #3

Youiden)fyacrosssellingopportunityandintroduceyourclienttoacolleague,butnosaleismade.

How to transfer trust



Scenario #2


Answer her unspoken question



“Doyouhavemybestinterestatheart?”



Business owners Men

•  Reachoutforfunding•  Thinkcreditisanecessary

investment•  Growasfastaspossible

Women

•  Self-fund•  Thinkcreditisan

unnecessaryexpense•  Growincrementally

•  g



Types of financing

•  WhenNAWBOmemberswereaskedaboutthetypesoffinancingtheyused:63%ofusedcreditcards,13%usedacommercialorbankloan,11%usedapersonalbankloan,andonly2%usedequitycapital.

•  AstudybyWellsFargoandtheCenterforWomen’sBusinessResearchfoundthatinfast-growthfirms,only39%ofwomenownershadbankloanscomparedto52%ofmenowners.

hJp://nawbo.org/content_10354.cfm



Women winning questions

•  Imagineforamoment,ifmoneywerenoobject,howwouldyougrowyourbusiness?(GreatforgeZnghertothinkaboutcredit)

•  Ifyoucouldfarmoutonetaskthatyoudo,whatwoulditbe?



Holly Buchanan Email:[email protected]:www.SellingFinancialServicesToWomen.comCompany:BuchananMarke)ng

Documents

Selling To Couples€¦ · Spender Saver Enjoy Future Take Action Opportunity Seeker Enjoy Now Source: Buchanan Marketing Money Personality Test and Selling Financial Services to