How To Avoid Getting “Shopped” Against Other Advisors

When there is an abundant supply of advisors in your local market, it becomes harder for you to differentiate yourself.?As a result, it’s easy to let your guard down and adjust your fees lower (or add more pre-sale “meetings” to your sales process), out of fear you might lose a new client opportunity.

But if you allow yourself to become commoditized in this way, you open yourself up to being “shopped” against other advisors.

This is a problem facing many business advisors, even successful ones.

Your initial meeting with a potential client will go well, but near the end of the meeting they’ll say to you something like: “Thanks for your time but we’re looking at 2 or 3 other advisors and have meetings lined up this week... we’ll get back to you”.

Ouch... you just invested an hour of your time for a “we’ll get back to you”.

Waiting for potential clients to get back to you is no way to build a reliable and consistent business –and being forced to chase them when they don’t get back to you, only pushes them away.

So, what do you do?

Focus on getting to the truth

When a potential client says to you the dreaded phrase “we’ll get back to you”, understand... it’s not about you, it’s about them.

They have been conditioned to believe that solving their problem requires shopping around for different solutions. The problem is, they aren’t qualified to evaluate any solution... if they were, they could solve their problem on their own.

Subconsciously, they also want to avoid their problem and shopping around provides the perfect distraction.

When they’re in “shopping” mode, you need to call them out, in a refined and delicate way.

After telling you they plan to see other advisors first, you could respond like this:

“May I ask, what is the most important criteria an advisor must have, for you to want to work with them?”

If assessing multiple advisors is a genuine need, shouldn’t they be able to articulate their selection criteria?

I suggest to you, they’ve never even thought about the answer to that question.

Your goal always, is to get to the truth of your potential client’s problem and the reason why they sought your help in the first place.

If solving their problem is not a genuine and urgent priority for them, this simple question will confirm that and allow you to disengage. But if it is a genuine priority, you will have diplomatically shown them that “shopping around” is a waste of time, and brought their focus back to solving their problem with you, assuming you match their criteria.

Remember, your potential client is not interested in how you solve their problem. The main thing on their mind when they meet you is, whether they can trust you to solve it.

Learn how to build trust with your potential clients and dispel any resistance that makes them believe they need to shop around.

Focus on getting to the truth, rather than making the sale.

Ari Galper is the World’s #1 Authority On Trust-Based Selling and the creator of Unlock The Game?, a new sales mindset that overturns the notion of selling as we know it today. His personal insights on how to build trust between buyers and sellers continues to break new ground. Thousands of Business Owners worldwide have been transformed by his trust-based sales approach. You can get a copy of his new book “Unlock The Sales Game” or his Free Masterclass at https://www.UnlockTheGame.com