Name: PocketBook4you
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A sale is no longer about pushing products to customers. Tricks and trickery can no longer deceive current and experienced consumers. From there, the authors James M. Benson and Paul Karasik offer “22 Keys to Sales Success”, which will make you achieve satisfactory results and succeed in the financial market.

According to them, in today’s world, sales and financial services professionals must build mutually beneficial relationships with their customers, basing everything on trust and respect.

Do you want to know more? So continue reading this PocketBook and learn the main techniques to become successful in the world of sales!

The authors James M. Benson and Paul Karasik use their experience and achievements in the financial and insurance industry to identify 22 key strategies that can be used by sales professionals in all areas.

Each chapter presents an applicable sales strategy in an easy-to-understand way.

Who are James M. Benson and Paul Karasik?

James M. Benson has sold financial products and services for many years. He is president and CEO of John Hancock Life Insurance Company, where he headed the sales and marketing division.

Paul Karasik is a management consultant and he also trains financial professionals. His previous books include “Sweet Persuasion” and “How to Market to High-Net-Worth Households”. He is a columnist for On Wall Street magazine.

Why should I read “22 Keys to Sales Success”?

The book “22 Keys to Sales Success” is designed for both a sales veteran and a newcomer who is gaining ground in the market.

It is a recommended reading for every professional in the financial services industry who wants to maximize their potential, increase sales, and decrease their work.

What can I learn from “22 Keys to Sales Success”?

Traditional sales methods no longer work for financial products and services;

The only way to achieve success is to build relationships with your customers;

A consumer will buy from you once, a customer is someone with whom you own a relationship that will be mutually beneficial over time;

Get to know your customers and let them know you, respect you and trust you;

When you totally believe in your product, your customers will respond in an emotional way;

People make purchases based on emotions and supported by logic;

Give the interested party reason to say “yes”, but avoid continuing when you notice that the sale is unattainable;

Develop advertising systems that reflect your strengths and personality. Use what works repeatedly, adjusting frequently;

Create more business from existing customers by thinking about new opportunities to serve them. Do not hesitate to ask for referrals;

Be your own mentor, motivator and manager. Avoid exhaustion by breaking old patterns and replacing them with new positive activities.

Download the “22 Keys to Sales Success” Book Summary in PDF for free

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As explained by the authors James M. Benson and Paul Karasik, the current financial services industry has little to do with the financial services industry of yesteryear. Everything has changed, from the way financial products and services are distributed to the way they are advertised and sold.

Traditional sales techniques, which are oriented according to the benefits of the product, have become mostly obsolete.

The only way to succeed in today’s financial industry is to build relationships with customers that are based on trust. To achieve this, there are 22 specific tactics that can help you:

Do not let the stakeholder’s fear or assertiveness influence the direction and flow of your sales process. Anticipate your concerns with a personal reward.

According to the book “22 Keys to Sales Success”, your sale should not only depend on the characteristics and benefits of a product, but these factors are important.

To close a business, you need to control the emotional reactions of the interested party. The thrill that most often blocks sales is fear. People are reluctant to commit to a decision because they are afraid to start a change, lose control or make mistakes.

A world of differences separates a “customer” from a “consumer”.

The authors James M. Benson and Paul Karasik claim that a consumer is someone who buys a product or service but does not represent the potential to create future sales.

On the other hand, a customer is a person with whom you have developed a lasting relationship that generates new business.

By adding a customer per week to your business, you can create a practice that will flourish over time. Remember: a consumer can present himself as a quick and easy sale, but you can only rely on customers to mean long-term gains.

As explained in the book “22 Keys to Sales Success”, many similar financial products and services are available in the marketplace, which makes it terribly difficult to differentiate them based solely on their benefits.

Still, positioning your services in a unique way is very important. Start by creating a text that convinces those interested to do business with you.

Publish your text on the Internet and use it in all your forms of communication. Develop a one-minute text that briefly explains what you do.

Determine a market target and focus your advertising efforts on that industry. Choose a market that is predominantly untouched, accessible, and has sufficient potential customers and resources.

Do everything in your power to get involved with this market. Become a member of a relevant professional association, write articles for publications, give talks at meetings and promote events for clients.

You need to believe in your products with all the strength of your body. When you are passionate about your products, the stakeholders will be responsive and you will establish a connection.

Remember to emphasize the emotional benefits of your merchandise. In other words, you do not sell life insurance, you are protecting someone’s family.

Authors James M. Benson and Paul Karasik claim in the book “22 Keys to Sales Success” that logic does not guide a sale, emotions do.

In order to achieve a high sales rate, it is crucial that you manage your time wisely. Save time by qualifying and identifying stakeholders who really need your services and have the ability to shop.

Qualify stakeholders by discovering who used your products previously. Choose decision makers who are determined to go forward.

Most of all, if you realize that you are wasting valuable time in a bad situation, turn your back and walk away.

Key 7 - Give them something to say “yes”

Include easy-to-answer questions with “yes” on all proposals so the sales process can proceed positively.

Examples of such questions are: “Do you want me to reduce your taxes?”, “Do you want to contribute to the education of your children?”, “Do you want the guarantee of a safe retirement?”.

According to the book “22 Keys to Sales Success”, a six-element proposal system is a great tool for generating agreements. Gather the information to explain these six points: the recommendation, the reasons, the results, the cost, the alternatives, and the timetable.

Start by finding an ad style that you make sure it works with your customers. Your method should include a customized approach to attracting high-quality business, conducting follow-up and maintenance.

Once you have a good system complete, use it repeatedly, making adjustments from time to time for improvements.

Every vendor encounters plateaus and falls. It is at this time that the 60-20-20 rule proves to be effective.

Continue to use your current sales systems for 60% of your time.

The authors James M. Benson and Paul Karasik advise to invest 20% of the time in research on new developments in technology, advertising, and selling techniques.

So, use the remaining 20% by applying and testing the new ideas you've learned.

Use the latest technology to organize every aspect of your systems to boost your productivity. There are several free software that makes contact management.

Choose one and use it to record customer information, track sales activities, save conversation histories, and generate phone call reminders.

The Johari Window is a business model that illustrates the dynamics of cohesive and productive relationships.

Initially, you need to open up to your stakeholders and share your thoughts, experiences and feelings. So be curious about your customers and listen when they open to you.

Apply these basics to building lasting relationships that translate into more sales and greater customer retention.

You are not just a seller offering financial products and services. You are offering knowledge and experience that is extremely valuable to your customers.

According to the book “22 Keys to Sales Success”, when you provide solutions based on your expertise, you make a “sale with consultation”.

Be proactive by demonstrating your experience by writing articles for publications, establishing yourself as a source of information, and producing pamphlets that show your strengths.

Key 13 - Create a new business with existing customers

Your existing customers are your best source of additional income. Therefore, it is important to periodically assess customer needs and think of new ways to help each of them.

When identifying an opportunity, create a marketing plan to present to your client. Ideally, 80% of your sales will go to customers who already trust you.

As explained by the authors James M. Benson and Paul Karasik, to be an effective financial marketer, you must have proficiency in three basic communication skills: questioning, listening and presenting.

Unlike other types of sales that rely on product presentation, financial service relies on sophisticated communication methods.

Learn how to ask the right questions and pay close attention to the answers. Follow rule 80/20: let the person speak for 80% of the time they are together.

In fact, objections are a good thing. They prove that customers are being involved in the sales process. Objections help you identify the concerns that keep the customer away from the purchase.

It is even more important to ask questions that expose any outstanding objections to being able to discuss them with the client about them.

Listen carefully to the concerns of the clients, do not challenge their points of view and have prepared answers.

Key 16 - Always be close to closing deals

Always approach a sale with the mindset of closing deals. As explained in item 5, believe in yourself and what you are selling.

The authors James M. Benson and Paul Karasik say that when you spend more time building relationships, you will need less time asking for purchases. Closing business becomes a mere matter of time.

The content presented above reflects the vision and critical analysis  of our writing team, respecting the fundamentals of intellectual  property in Brazil (article 8, item I). 
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[ENG] 22 Keys to Sales Success - James Benson.pdf

Use 22 strategies to sell, direct your efforts to build lasting relationships, and learn how to turn consumers into customers.

22 Keys to Sales Success - James M. Benson, Paul Karasik

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