Academy

Is what you think you are selling the same as what your client thinks they need to buy?

Is what you think you are selling the same as what your client thinks they need to buy?

Have you ever considered whether the service you think you are trying to sell is the same service that your client thinks they need to buy?  It’s all about letting your client ‘experience’ your experience.  Let me explain.

The hairdresser experiment

We once did an experiment.  We had a room full of people and we split them up, women on the left and men on the right.  We then asked them some questions about their hair.  We gave them each 3 questions:

  1. What’s most important to you when you choose a hairdresser?
  2. How long do you normally spend at the hairdresser?
  3. How much do you usually pay for that service?

There was a very clear divide between the men and the women.

The men prioritised speed.  They wanted to get in and out as quickly as possible.  They were prepared to spend between 30 minutes to 1 hour and were happy to spend £10-£15 on their haircut.

The women were prepared to spend between £80-£100 and between 2 and 4 hours.  Their top criteria was trust.  For them, it was a case of “who do I trust to do my hair?”

Transaction versus experience

The experiment highlighted something so important.

The men saw it as a transaction – get in, get out and pay as little as possible in as short a period of time as possible.

The women saw it as an experience – something to be experienced with someone that they trusted.

How does this relate to your service?

Think about your service.  If you have a client who is transactional and they are coming in for financial advice, they probably want to treat your service like a mens’ haircut.  They want to come in, get the advice for a low cost and leave.

So, if they come to you and the service that you think you are selling is experiential Lifestyle Financial Planning, that’s a whole different service – and not what they’ve come in for.  If you explain it like you would a haircut to a man, “it’ll cost £80-£100 and take 2-4 hours” your client will probably run out the door!

Give your client a chance to ‘experience’ your experience

Back to the hairdresser scenario.  Bring the man in and sit him down:  “Here’s a beer, sit down and relax.  Shall I put Sky Sports on for you?  How about a neck massage whilst we wash your hair?”

Suddenly, this is sounding and feeling better.  Suddenly he is prepared to pay more than £10-£15 because he is ‘experiencing’ the experience.

You need to do the same with your clients.  If they walk in the door and they are transactional, you need to let them ‘experience’ your experience. Otherwise, they’ll never know what they are buying and they’ll never commit to paying more for your additional value, time and expertise.

So, give your clients a free taster session (a bit like the beer and the Sky Sports) during your initial chat with them.  Your service is Lifestyle Financial Planning – it’s an experience.

Ready to knock your clients socks off?

Signing up to the Plan Happy Lifestyle Financial Planning Academy is easy.

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It lasts for 30 days and you can upgrade to the full package at any time.

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