The PSABC Method of Engaging with Clients

The PSABC Method of Engaging with Clients

One of the biggest problems first and foremost when we engage with client is ourselves.

There is a very big difference between selling and finding solutions to a client’s problems. This is often a common problem in our earlier days as junior advisors, as we are focused on the sale and not actually on engaging with our clients. For many of us though as we become experiences, we don’t move from this way of working and that as a result, can leave our clients feeling uneducated and insecure about the products and services that we are offering them.

There is a sales technique that I learnt many years ago, that I would like to share with you.

PSABC Method:

Problem:
All our clients have problems that they are looking to us to solve through financial products and services. As an example, your client may have a problem with his business, but the problem may very well be that he is not home enough or other stresses.
Often the problem that he may have engaged you on, is not actually the problem itself, but something underlying. We as advisors need to find a solution to the problem, and that cannot be achieved through a purely sale mindset.
So often we as advisors will have a client that presents us with a problem, and we are quick to provide a just a solution.

Solution:
I therefore challenge you to move away from the pure sales process and ask relevant questions. Do the “digging” that is necessary to help find a solution for your client that will meet his needs correctly.

Advantage:
By finding the solution you thereby give your client the advantage as you have the correct analysis of the real problem the client is facing, not the one that he presented at face value.

Benefit:
You can therefore properly explain the benefits of the product that you have for your client, to meet his problem. By educating your client on the benefits, you also provide the security for him, that the product he is taking, correctly meets his needs.

Close:
This is the part that we are so often focused on, instead of the valuable process as mentioned above, that should be followed.
When you use this process, you will find that you engage very differently with your clients. You will find that you stop selling and start providing solutions that are beneficial to their bottom line.

Retention of clients:
As a result, you will also find that clients are less likely to move away from you, if you have followed this process. When you are in the process of just selling, and don’t take the time to really invest in explaining the advantages and benefits for client, you may find that over time clients will question why they have a particular product, as it was never explained to them. As a result you will find that your business doesn’t “Stick “ and clients will move on. If you follow the PSABC method, you will have invested the proper time to explain to your clients the needs for the products and they will feel secure that their problems and needs are being met.

There is a huge advantage of moving from a selling to a solution mindset and you will find this will not only benefit you but your clients as well.

Luke Matthews | Hampshire Advisors

Luke Matthews

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