When selling to accredited investors you need to understand their needs – their true needs. It’s easy to say that the need to make more money, but do they really? And even if they do, why do they need to make more money with you? Can’t they make more money elsewhere? After all, these are successful people who have already done well financially.
Being able to answer those questions is what separates the amazing salespeople from the okay salespeople. The most successful salespeople understand that it is not about them – it is about the people they are selling to. In this case, the accredited investor.
You have to start by understanding that a sales call is not about you. It’s about them. What are their goals, ambitions, or fears? Ask questions to find out and then show the investor how your opportunity can either help them to achieve a dream or to ease their fears for the future.
Behavior economics is an interesting field of study that has combined psychology with economics to better understand why people make the decisions they make, especially when those decisions impact their wallet. Through their research they have identified several principals that can help you, including:
#1 People are afraid of losing or missing out
It turns out that people are more motivated by the fear or risk of losing something than they are the idea of gaining something. Fear of loss will make people act faster and in this case, that’s a good thing. If you can get an accredited investor to move quickly you can close your offering faster and move on to the next one. So, when creating your sales pitch and offering materials, keep in mind that you need to have a shorter deadline and remind people that missing out on this opportunity could be something they regret.
#2 Use price anchoring
Price anchoring sets the standard that people can expect. This is why it can help to provide an anchor for why the shares or units of an offering are priced the way they are. Is this because a similar deal was priced a certain way? Whatever the anchor is, be sure to put it out there so that investors are not wondering if it is a good deal. Show them up front why it’s a good deal.
Remember to ask open-ended questions. These are questions that cannot be answered by a yes or no and will typically begin with a ‘why’, ‘how’, ‘what’, or ‘when’. For example, instead of asking “do you want to make investments this year” ask “why do you want to make investments this year”. Even if the answer is “I don’t want to” it lets you ask a follow up question of “why don’t you want to invest this year?” to get them talking. And the more they talk, the more you know and the better able you will be to close the deal.
It starts with a leads list.
Before you can do anything, you need an accredited investors lead list. These are hard to find but we have you covered. Order your sales leads today by giving John a call at 561-239-0364.