In sales, there is very little substitute for personal experience. It’s not surprising that when looking to purchase a product of any kind, be it a new mobile phone, a TV package or a holiday, consumers place most value on the opinion of family and friends who’ve bought the same. A salesman can have all the information available on a product but unless they have first-hand experience of using it they can’t compete.
The same applies in financial services. If you are recommending your client take out a product with a certain provider which you have personal experience of dealing with, not only will you be able to give an honest review to your client but they will no doubt trust your recommendation all the more.
If you can be a personal advocate for a product you can rest assured that the advice you’re giving is good advice (because you know the product works well) and have total confidence in the solution you are recommending.
And, by looking at the products you have and why you chose them you can get an insight into the minds of your clients and what drives them.
So, ask yourself, how do you choose the financial product you have? What prompted you to choose one provider over another. Was it the price? Were you attracted to the provider because it is particularly progressive in terms of technology? Perhaps you liked the ethos and values of the business and felt like they mirrored your own. Did you make your choice based on customer service?
With all this in mind you should look at the product you’re recommending for your client and, assuming similar needs, ask yourself would you really choose this product for your own use? If you wouldn’t – unless there is a very clear reason for this relating to personal circumstance – you should be questioning why you’re considering offering it to someone who trusts your professional opinion.