Financial marketing solution selling
Most financial firms I have worked with a focus on selling services. While it is necessary to present the services you offer, I think the focus should be on financial marketing solution selling. When you connect your services with a solution, you have a much more persuasive message. And after all, marketing and selling are about offering a solution to the buyer. The following are the factors to consider in financial marketing solution selling.
Uncover the needed solution you need to sell
First of all, you need to unearth the prospect’s problems to provide a solution. Therefore, conduct a needs analysis during your first meeting. There may be one major issue or several smaller ones, but without knowing them, you can’t provide an answer that relieves the potential customer’s hassles.
Provide details in financial marketing solution selling
Providing the details in how you will solve the problem can be somewhat tricky. After all, you don’t want to give too much away before the prospect becomes a client. With this in mind, you still need to offer enough detail to promote your advantages and thoroughly explain how you will work with the client. It must be remembered to keep the solution clear and concise to be sure the prospect understands it.
Consider the price as part of solution selling in financial marketing
In any sales process, price is a crucial ingredient. Of course, too high will not win the client. However, too low can seem that you are not offering enough value, and the customer won’t receive the services they expect. The price needs to be fair market value, as well as providing a profit point for your firm. For example, I worked with a client that was pricing their services 30% lower than the competition. Even at that rate, they were not winning the business. I suggested they raise their prices by 15%. Consequently, they began winning new clients. Before, the potential customer was not seeing a value to the “too low” pricing and raising it also raised the perception of value. When implementing financial marketing solution selling, price doesn’t have to be the lowest.
Focus on value when solution selling in financial marketing
Value is the perception of the prospect that the services are worth what they are being charged. When you can show this benefit, being the lowest cost doesn’t factor in the decision as much. To demonstrate the value you offer, solicit client testimonials and referrals. Create case studies as examples of how you provided solutions. As a result of these tactics, you have satisfied clients proving that you deliver value. This is a persuasive financial marketing solution selling message.
About the Author
Paul Kowalski (or Pappy as he is called around the office) spent over two decades working at other agencies before opening Conach Marketing Group in 2008. The early part of his career was working with Fortune 500 clients at different agencies. However, working with smaller clients was his preference. This choice was because of the impact on a client’s business growth and forming closer, personal relationships.
When he was creating Conach, his goal was to bring those Fortune 500 strategies along with years of B2B marketing experience to small business marketing clients. As a result of focusing on business to business marketing, Conach specializes in construction marketing, financial marketing, and industrial marketing. Even though we are in Mid-Michigan, Conach provides marketing services to clients across the country.
For more information, visit conachmarketing.com or contact us or call 989.401.3202.