AboutPeople Inner Circle

Fast Track!
How to Improve Your Credibility – Now!

I’ve been coaching in the financial industry for about twenty years. The two problems I see most often are:

1) Financial professionals don’t know now to prove their credibility
2). That makes them appear are generic.

This article shows you how to solve both of those problems – right now!

Why is Credibility important? The answers link directly to your bottom line. First, when your prospects see you as credible, they buy from you, sooner. So, the sales cycle is significantly shorter. Second, when your clients see you as credible, they talk about you to their friends. Where do you think true referrals come from? Credibility gives your clients something to talk about. And, when you do it right, that something is you.

Bottom line - when you invest in your Credibility, your investment comes back to you bigger and faster. You make more money faster. You get more new business faster. But that still leaves a huge question for us to answer - how can you build your credibility?

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Quick Quiz: What tool gives you the most credibility?

Company brochure?
Product brochure?
Newsletter?
Seminar invitation?
Business card?
Website?
Greeting card?
Ballpoint pen?
Refrigerator magnet?
Tee shirt?

The answer is NONE OF THEM! None of those things gives you any measurable credibility. OK, if not them, then what does: a book!

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Credibility! It’s in the eyes of the client! I don’t care how much training you have or how many years you’ve been in business. If you can’t prove that you are Different and Better, then you are proving that you’re the same as most everyone else and actually less than a few others. What does this mean to your business? Look…

Sales are not the results of events. They are the end result of a logical process. The process requires time for you to prove that you know what you’re talking about, while not talking the prospect’s ear off about yourself. Break the process and the prospect walks.

While you can’t interrupt the process, you can shorten it by proving your credibility up front. Picture yourself handing your prospect a book and saying, “Before we get started, I’d like to give you a copy of my book.” The result – a whole new ballgame, and you set the rules! See, credibility short-circuits the process. Along with credibility comes greater trust and, as psychologists say, “A heightened expectation of success in the mind of the prospect.”

When someone comes into your office … when you address your seminar audience … when you enter someone’s home … when you enter the board room to make your presentation - in all of those situations, you have a choice. You can approach those situations just like everyone else – thus proving that you’re generic – or you can give the other person/people what they want – thus proving that you’re Different and Better (credible). What they want is a reason to trust you. The main reason they’re in front of you is that after years of searching, they have yet to meet an advisor they feel they can trust. That’s also one of the reasons so few clients give ALL of their money to only one advisor .

Look at 3 basic facts - the foundations of Credibility:

Fact One. People do business with people they perceive as being credible. It is such a simple fact that you can’t argue with it. When the chips are down, we look for the best person for the job. When the client’s wealth accumulation, preservation or distribution is at stake, he wants the most credible person to help him. Who is it? When the executive wants to roll her pension, she looks for the most credible person. That’s the person with credibility. Since so few advisors are seen as credible, this is a tremendous opportunity for you. So, why not jump at a chance to show your credibility right now?

Fact Two. Most producers will opt to look generic. The cost of credibility is modest compared to what you get. But, rather than invest a modest amount of money and choose to get the credibility, most producers and advisors will let the opportunity for credibility pass them by. That’s great news for you because it means you can stand out even more! Let's say it costs $7500 to build your credibility. How does that compare to what you'll pay in marketing, advertising and lists if you don't have credibility?

Fact three. When you have nothing that proves your credibility, your job is significantly more difficult. Actually, it’s almost impossible. However, when you have built your credibility, it enters the room before you. It's the Anticipation Rule, which means that when you can build greater anticipation, you're seen as more important you are seen, and your solutions are seen as more valuable. But what if your credibility is based on an ugly business card and self-aggrandizing brochure?

Example. Let's say you're a business owner being approached by a financial advisor – one you didn’t already know. How easily can you trust that person? Fact is, you probably don't trust that person at all – until she proves her credibility. Fact is, most financial people try to prove their credibility by talking about themselves. Fact is, most brochures are just more talk about them, based on what they like and value - not on the client. All that really does is prove they're self-focused. Who wants to do business with an egomaniac?

Now, let’s look at you. Let’s say that in ten seconds, you’re going to deliver a presentation. It might be a seminar, speech or one-to-one pitch. You get only a few seconds to establish your credibility, otherwise the person/people will roll their eyes and think, “Generic!” How can you prove your Credibility?

What can you do – right now – to improve your credibility? What can you get that will speak loudly of your expertise? The answer should be obvious – publish a book! Hand your prospect the book. Hold up your book when you enter the stage. Talk about the book. Think of it like this: only heavy-weights have books. Who would know of Wayne Dyer or Tony Robbins if they had not published a book?

Closer to home, let’s look at the financial industry. In the mid-west, Lee Hyder is probably the best-known financial professional. He has a book. In New York, hands-down the king of credibility in the senior market is Bob Sagar. He has a book. In Alabama, Benjie Lloyd owns credibility. He has a book. Are you starting to see a trend?

Very few people ever hear about any other advisors in those areas. Why would they? Advisors without books are a dime a dozen, no matter how smart they are. But only a small handful of advisors have books. Why is that? I wish I knew, but it’s good news for you. Think how many pieces of mail hit the average mailbox in a week. Now, think how many times your target market is offered a book by the author. It is a no-brainer.

Pick an industry, and do a Google search for the professionals working in that industry. When you link to those websites, one of the first things you’ll look for is his or her publishing history. Does he have a book? Does she write a column? Does he contribute to industry publications? In the academic world, the rule is, "Publish or perish." In the financial industry, if you want to be a heavy-weight, it's the exact same thing.

When you are the author of a book, you have proof. When you have a book, it gives your target market permission to trust you. It becomes OK for them to take that leap of faith and believe you. They say to their friends, “You ever heard of Mike Lovas?” Maybe not before that moment, but from that moment on, they have heard of Mike Lovas. The point is, why was the name Mike Lovas brought up in the first place? Why do people trust Mike Lovas? Because he has a book – eight books in fact.

Bottom line –
1. People do not talk about financial advisors who do not have a book.
2. Those who do publish a book become celebrities. (Because so few advisors publish!)

Your Reward. If you want to solve your credibility deficiency, just let me know. I will help you save about $10,000 on your own book. Now, that’s a real reward! Just send us an email with "Credibility Reward" in the subject line, and give us your contact information.

Next step. Link to: http://www.aboutpeople.com/Solutions/CredibilityMarketing.php. Go there and see some of the book covers we have created for our credibility clients. Want to put your photo on one of those covers? Call me.

Coaching Update:

You may not know this - AboutPeople conducts a very active coaching program. We work with individuals, teams and companies. We work with producers, advisors and wholesalers. Currently our corporate clients include: Met Life, Ameriprise, Union Securities (in Canada) and Paladin Registry. Those professionals learn new skills. They learn how to read the psychology of the people they meet with. How does it work in real life? Brilliantly!

Picture yourself at a "Speed Networking" meeting. You quickly move from person to person in a timed/structured way. With each person, you focus on building rapport and making a meaningful business contact with twenty to thirty people. If you can quickly read each person, you automatically know how to build rapport and can walk away with a new business contact/prospect. If you don't know how to read that person, you'll stumble over your tongue or say the same thing to every person. What a disaster. They will see you as a jerk. But, when you can read them, you can connect with all of them. Which would you prefer?

Doesn't it make sense to learn how to read people? After all, the financial industry is all about people! And that is our area of specialty. AboutPeople is the go-to firm for advisors who understand how important psychology is to their communication with their A-level target market and ideal clients.

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