Credibility

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Improve Your Credibility
Through Questions?

In the last edition of Inner Circle, we offered to send you our new report "Ten Ways to Improve Your Credibility."  The response was wonderful.  It was the second most successful Reward we've ever offered, and the feedback we received made me blush.  This edition of Inner Circle focuses (and expands) on one of the most effective ways.  Of course, I'm happy to send you the entire Report (free), just send me an email to let me know that you want it, and include your contact information. Meanwhile, enjoy:

Ask Insightful Questions

One of the most commonly taught sales tactics is to ask open-ended questions. The intention is to get the other person talking.  The more the prospect talks, the more comfortable he/she becomes with you.  It's a flawed tactic.  There is a time for open-ended questions, unfortunately at the beginning of your meeting is the wrong time.  You have to earn the right to ask those questions. (Hint: if you're asking open-ended questions too early, you're probably irritating your prospect.)

It takes skill to ask the right kind of questions at the right time. Especially in the beginning, because in the early stages of a conversation with a stranger, you’re still showing that you’re competent, trustworthy and relevant.  Until you prove those things (competence, trust and relevance), no one wants to divulge important information to you. Again, you have to earn the right to ask those questions.  Notice the process below.  This is how you solve this puzzle.

Step 1 - Go Short!  You are far better served to ask intelligent, relevant, short-answer questions that help the client discover that you are insightful and experienced.

The formula is simple: Begin with specific questions that show your Credibility.  A question that would elicit a short answer would be based on "YES/NO."  For wholesalers, you might ask:  "Do you enjoy the planning process?"  "Do you work with seniors?"  For advisors, you might ask, "Do you have other advisors?"  "Do you have a pressing financial question?"

By asking that type of question, you give the other person a chance to give you a one-word answer, or volunteer more. Then move into questions that elicit slightly longer answers.  

Step 2 - Go Medium!  How might you get someone to give you a longer answer? That sentence demonstrates it.  Ask a question based on the word "HOW."  It elicits a procedure.  Any procedure causes the person to organize information and express most or all of it, and giving you the entire procedure or alternatives. A wholesaler might ask, "How does a variable annuity fit into your planning work?"  An advisor might ask, "How do you protect your estate now?"  Then, introduce an open-ended question.

Step 3 - Go Long!  When you see the prospect lean toward you, you can ask longer questions.  When you see his face become more expressive, you can ask longer questions.  When you realize that you are indeed having a real conversation, say, "Do you mind if I ask an important question?"  Then, ask your open-ended question.

The science. Why is that approach more effective for you than beginning with open-ended questions? There are two rules here: 1) Knowledge and wisdom are demonstrated in questions - specifically ones that include relevant specifics. You include knowledge and insight in the questions.  2) The more specific a question, the shorter the answer. Think of this as the "Theory of Implication." It works like this; when I demonstrate a given level of insight, you will presume that I have even more insight. 

Here are a couple of other ways to express this theory: "Where there's smoke, there's fire;"  and, "It's just the tip of the iceberg."  Psychologically, we're talking about the "presuppositions" inherent in projecting knowledge.  People project assumptions or presuppositions unconsciously.  We're simply leveraging their behavior. 

Why bother? When you follow that process, you systematically engage the prospect in a progressively deepening conversation.  When you consider how many advisors talk more than listen, you can see that this approach immediately separates you from them.  It shows you as different, better and more likeable.  And, that's getting close to Credibility!  Pus, it's just very effective.

The Key.  Sitting in front of a stranger and needing to know what's relevant to that person within a matter of seconds seems like an impossible task.  Actually, it is simple and easy. The key is to "read" that person while you're shaking hands.  What does his/her face tell you about his/her values?  This body of knowledge is readily available to you in our book Face Values.  The value of Face Values is that it teaches you specifically how to read and connect with every prospect you meet with. 

Whether you're a wholesaler or advisor when you ask questions based on the prospect's values, you will become relevant form the start and demonstrate insight from the first question.  *Find Face Values at: www.aboutpeople.com

Michael and Pam in Morningstar 
Last year, we were interviewed by David Drucker for an article titled "Mental Magic" in Financial Advisor.  This month, watch the January 17 issue of Morningstar for another article on us by David.  The focus of this article is our work in Credibility. 

"Credibility & Likeability" Keynote
On January 10, Pam and I delivered a keynote on "Credibility & Likeability."  The program explored the science (research) behind what Credibility is.  Then, we described the practical application - how you can get it.  We always teach our audiences specific (and relevant)  ways they can improve their personal Likeability and Credibility.  If you want to learn these skills, or see this program delivered at your firm's conferences, please call us at: 509.465.5599 immediately.

-- Michael Lovas
-- Pam Holloway

Find AboutPeople resources at:  http://secure.megatrans.com/aboutpeople/Catalog