Perhaps you’re just starting out in financial sales. You might have been selling financial products or services for at least five years. You are looking for the best sales systems and training programs to help get you started or increase your sales to six figures and beyond. Search the Internet, consult industry publications, speak to your manager, and ask your associates: “What’s The Best Sales System?” “Who do they recommend?” There are over 100 sales trainers and systems available. You contact a few of these companies. After reading and/or listening, you’re unsure who to choose. Each company tells you they are the best. How can you make an informed decision?
Your pain is my own. I also have the same problem. How can I show you and all the other financial advisors, insurance agents and financial planners that we have the best training programs and sales systems in the financial service industry? It’s a challenging problem. As many of my competitors, it is possible to make absurd claims that appeals to the insecurity and fears of most salespeople. “Guaranteed Overnight success!” “One thousand new prospects in six weeks!” “Obtain High Quality Prospects to Call You and Beg for An Appointment!” “Work From Home In Your Underwear!” Or “Make a Million Dollars in Six Months by Working Part-Time!” I doubt you’re intelligent enough to believe any of these… “In-Your-Face” advertisements. These ‘In-Your Face’ ads are used mainly by scammers and hucksters. They are aware that financial professionals, like all people, want instant gratification and success.
It is not possible to guarantee that your success with our programs will be 100%. There is no one marketing, prospecting, or sales program that works for everyone in every part of the country. There are too many variables. We don’t know anything about you, your talents or financial situation. We don’t know where you live. We don’t know the attitudes, likes and dislikes of their residents. We don’t know their competition, who they are in the immediate vicinity, what the negative publicity is like in their area, or how much demand there is for your products and/or services.
How do you choose the right system and organization to train your salespeople?
Do your research!
These are the main points that I consider before I spend my hard-earned money on any system or sales training program.
1. Is the company able to provide you with their complete contact information? Are they able to give you the names of the owners, key employees, addresses, telephone numbers, and an email contact form? You should ask them why they don’t provide all this information. You should be able call them and talk with them about their support program to determine if it’s right for you. How can you verify their credentials if they won’t give their names? What does this say about them?
2. Are these people actually able to sell products and services in the financial service industry? Are they simply sharing information that they have read in a book? Or from other sales situations? Are they actually able to sell intangible financial products or services?
3. What was their success rate in personal sales? Is it just a lie that they tell you they are successful or is there actual evidence? Every company I know in the financial industry gives plaques, trophies, and other physical awards for the top 10-20% producers.
4. What was their average time in personal sales? Many people are successful for a few years but have since stopped selling personal products because it didn’t work out. Although they made a decent living for a few years, they were pushy salespeople who didn’t tell all the truth, tricked people into purchasing, or sold to their friends and families. Because of their high lapse rate and inability to find referrals or new prospects, they were forced to quit personal sales. These are the people you want to support your career.
5. Are these people able to train new or experienced salespeople? How long have they been doing this? It doesn’t necessarily mean that they are able to teach others how to use the system. Is the system transferable?
6. Are they able to support their agents full-time by training them and supporting them? Are they still full-time in personal sales? How much time can they spend helping you if so? How difficult will it be for you to reach them?
7. Are they able to provide testimonials from happy customers? It’s easy to make up testimonials. It’s harder to falsify video testimonials. Are they satisfied customers you can reach out to?
8. Are they endorsed by financial industry leaders or associations? These endorsements are difficult to obtain because it is not easy for successful people or associations to endorse something that does not work. These endorsements can’t be faked because it is easy to check if they are genuine. What number of endorsements does each person have? Are they only able to get one or two endorsements from friends?
9. Are they able to provide a complete list of the contents of their courses and systems. Does it serve primarily as a sales or marketing system? It must include detailed information on marketing, prospecting and appointment setting in order to make any system or training work. You can have the most brilliant sales idea in the world but it won’t help you reach the right prospects consistently.
10. Is it possible for them to disclose the exact cost of training and materials upfront? Why don’t they disclose upfront the actual cost of their training and materials? Do they want to make you contact one of their sales representatives? Do they want to get all your information so that they can continue sending you stuff to buy?
11. Are they able to offer coaching and personalized training? Is it just group training? Are you going to get the help that is best suited for your situation?
12. Are they able to offer a “No Questions Asked, Money-Back Guarantee?” Most programs are not able to afford a ‘Money back Guarantee’. They may also require that you complete a lengthy process in order to receive a partial refund. This makes it easier to identify if they’re a reputable and successful company.
13. Are they in good standing with one or more consumer protection organizations, such as the Better Business Bureau? Many companies with less programs are not members of any of the consumer protection organizations because they receive too many complaints. To verify that they are in good standing, it is easy to contact consumer protection agencies.
14. How is their reputation overall? It’s easy to find out about any company or person today with the Internet. What does this tell you about their credibility and marketing/sales abilities?
15. They are just recruiters disguised as such. The vast majority of recruiters will say or do whatever it takes to get you signed up. To get you to sign up with them, they will offer you ‘Free Leads’ and a ‘Free System’. Ask to speak to the five newest agents before you sign a contract. (Agents who have been contracted in the past 6 months.) What does this tell you about them?
You must do your research to determine the best sales training and systems for you. Don’t fall for the “In-Your-Face” advertising. You will have a better chance of selecting the best systems and sales training for your situation by using all 15 points.