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Coaching the Buying Cycle - Product Dump, Order Taking & Process
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Last Updated
8th of October, 2008
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Style of Selling
Product Dump is an ineffective long term strategy to sell financial services products.
  • Clients do not like pushy sales people. Sales people that are pushy have low credibility with the client.
  • Presenting a product to a client before they have acknowledged having the problem that the product solves is presumptuous and perceived by most as pushy.
Look Out For:
  • People “pitching” product. (mentioning a product without first getting the client to acknowledge a need).
Coach:
  • Ask if they would ever try to sell something to someone where they knew the client did not have a need. When they say “no” remind them that that is what they are doing when they product dump.
  • Review the risks associated with product dump.
  • Review rule #2
  • Show how by asking good questions they won’t risk the sale they are currently making to the person they product dump on, but only increase their odds of getting those sales as well as much more.

Order Taking is an ineffective long term strategy to sell financial services products.
  • Clients are not experts when it comes to your products and services. If they were then all your clients would have solid retirement plans, be in the best investments for their circumstances and would have all their financial business with your company to take advantage of better pricing.
Look Out For:
  • People that do not sell unless the client mentions they need something.
Coach:
  • Ask if the clients are the experts at our products.
  • If the answer is no, then ask if it is good service to wait for the client to come to the conclusion they need a product they don’t know we sell.
  • When they answer no, review interview skills to help them in starting conversations and getting clients to acknowledge need.
Sales Plan or Process
All effective sales people have a strategy they follow that gives them the best possible chances to make a sale.
  • They do not leave the process up to the client, or to chance.
  • Buyers have a process they go through to make their buying decisions.
  • Sales people need a process that leads buyers through that buying process.
Look Out For:
  • People that do not seem to follow a plan or cannot tell you how they get to a sale proactively.
Coach:
  • Review the Buying Cycle highlighting the importance of each step in the process.
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