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Why You Should Ask Questions

Back in my old financial advisor days, there were certain things that made most of the people in our industry angry. At the top of the list were "financial gurus" who made appearances on radio and TV. These "experts" gave generic, blanket advice which was meaningless, but they made a great deal of money in appearances and book sales.

Why was their advice bad? Because they conveniently omitted something that we, as financial professionals, knew: Everyone is different! When it came to our clients, incomes, risk tolerances, ages, goals (personal, professional, financial) and family situations were all different. And the only way to know what the client's needs were was to ask questions and keep asking even more questions.

For instance, how many kids did they have? Were they planning on funding the kids' education? What was in their budget to spend on insurance, investments, etc? Did they even have a budget? Did they work? When did they want to retire? And so on and so on.

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It doesn't matter what you're selling, you need to ask questions. The obvious reason is that you'll know which of your products or services is the best fit. You don't want to force a size 9 foot into a size 6 shoe because that's all you have to offer.

But there is another reason that is even more important. You're building a relationship and/or rapport with that customer, and that is the secret sauce to successful selling. People buy from people they like and trust, and by asking the correct questions, you'll be earning trust and more sales down the road.

It's a whole lot easier to sell to someone whom you've already sold to in the past than it is to find a new customer. And "relationship selling" will also get you referrals. I know a very successful insurance agent who doesn't even have business cards. She gets 100% of her clients purely through referrals.

So take the time to get to know your customer. Ask relevant questions that can help you make the sale and earn trust. If you aren't sure which questions to ask, search the web for "fact finding questions" or something like that. You'll be glad you did.

Chris Castanes is the president of Surf Financial Brokers and speaks to groups on sales, marketing and networking. If you would like him to speak to your group check out his site at www.ChrisCastanes.com
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