Day 2: Afternoon TD Ameritrade Speakers
Submitted by Grunden Financial Advisory, Inc on February 5th, 2010Ricky attended the TD Ameritrade Institutional National Conference in Orlando and below are highlights from day 2 afternoon speakers and sessions. This includes sessions on the psychology of a sale and trying to read client’s minds.
The Art and Science of Sales
Jim Watkins, Consultant with Miller Herman, Inc.
What all clients are looking for:
- To accomplish something.
- To fix something.
- To avoid something.
Clients psychologically follow a three phase decision making process:
- Understand (Cognitive Thinking).
- Generate (Divergent Thinking).
- Select best (Convergent Thinking).
“People buy (decide or select) for their own reasons, not for yours (the seller or provider).”
Book: The New Conceptual Selling, Robert B. Miller and Stephen E. Heimen.
Reading Your Client’s Minds
Kerry Johnson, Ph. D, International Productivity Systems, Inc.
Women buy:
- 83% of consumer goods.
- 62% of cars.
- 52% of investment products.
Women want: Intimacy and rapport.
Men want: status and power.
Three things women hate in financial advisors:
- Giving advice without asking if they want it.
- Interrupting while she is talking.
- Advisors who don’t listen.
What women buy:
- Protection for children.
- Protection against disaster.
- Long-term client relationships.
Women communicate: connection first.
Men communicate: credibility first.
Book: Mastering the Game, Kerry L. Johnson.
Ricky’s comment: If you’re getting the impression men didn’t fare too well in this session, you’re right! :)