Client Receptivity

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Business Relationships - On Whose Terms?
Understanding “client receptivity”

Ever since life insurance was invented, agents have been saying, “I want to develop a relationship-based business.” Ever since the term “financial planner” was unleashed on us, planners have been saying, “I prefer to work with clients who value our relationship.” Can you see yourself in those?

See the flaw in both of those. It’s a problem of monumental proportions that neither the equities side nor the insurance side of the industry has addressed. Certainly, this problem has never been solved, and until it is solved - if you believe in a relationship-based business - you’re forcing your will, your attitudes and your values on your clients. Doesn’t paint a very positive picture of your business relationships, does it?

The Problem. Any personal relationship should be the melding of the two sources to create something comfortable and more advantageous to both parties. In a business relationship, the focus must be on the client, and your job should be to focus the focus on that person.

However, in the insurance and financial industries, who typically determines what the relationship is based on? The advisor. You. We've been coachng in this industry for many years, and one of the worst problems we face with nearly every coaching client is what we call the, "backwards focus." The advisor force-feeds his will, attitudes and values on the clients.

The point is - If your business is truly focused on relationships, shouldn’t you be forming relationships based (at least in part) on what the client wants? On the client's personality and psychology? Shouldn’t you begin the relationship by finding out what the client values? How the client thinks? If not, then what you get is one-sided and not really a relationship, but a transactional arrangement.

The Solution. Since the industry’s practitioners have been claiming “Relationship-focused” for eons, let’s look at what key information you need to gather from your clients:

IF the client even wants a relationship, or prefers just a transaction.
IF the client wants to ease slowly into a relationship, or "git 'er done".
IF the client wants strategic planning, or something more short-term.
IF the client looks to improve over time, or is satisfied with sameness.
IF the client wants (or needs) your guidance, or not.

Until you can capture those things, you're shooting in the dark.

What to Do Now. It is impossible to purposefully build a real relationship until you first learn how to recognize some specifics about your prospects and clients:

Their personality type
Their values
The way they need information delivered
IF they want a relationship

Until you can determine those things, any relationship is either accidental or one-sided. And, the other term for a one-side relationship is “manipulation.” Not much of a relationship is it?

At AboutPeople, we believe the advisor should be smarter about relationships than the client. You should become skilled at purposfully building rapport and trust with the client, recognizing what the client really wants, collecting better information, presenting your solution in the way that person needs to hear it.

Strange as it seems, even though this is a "relationship-focused" industry, very few financial and insurance professionals have these skills. Good news - it is the skill set we teach.

When you can implement these skills, you will find your clients asking you if it would be OK to introduce you to their friends. You'll find greater enjoyment in your work. You'll also see your income leap up. Why? Simply because you will have learned HOW to purposefully build positive business relationships focused on your clients. They will feel rewarded, and they will reward you for it.

Your Reward. Want to learn these skills? Want to gain the financial rewards that you deserve? Want better, more profitable client relationships? Just send me an email - michael@aboutpeople. Include this paragraph and your contact information. I will give you a $100 discount off our next group coaching program where we teach you how to use the Client Receptivity Guide.

-- Michael Lovas, C.Ht.

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