Broker Check
Do you speak Client?

Do you speak Client?

January 17, 2024

It’s great to have a high caliber vocabulary of industry specific terms, acronyms, and buzzwords, but the greater value is making sure that your client understands exactly what you are saying. It is not always the business that has the best product or service that makes the sale, it typically is the Advisor who can best communicate to the prospective client.

Clients Must Understand to Stick Around

Clients need and want to understand answers to questions and how a product or service can benefit them. They don’t want to feel inferior or uneducated when talking to someone about a potential purchase. Of course, Advisors need to be well-informed about the product or service they sell, but there are correct and incorrect ways on how to communicate important information.

Although clients needing a particular product or service might be very well educated, this does not mean that they will necessarily understand what the Advisor is saying to them. Unless the Advisor has the same knowledge about a product or service, which most likely will not be the case the majority of the time, the best advice when trying to make a sale is to omit industry jargon and highly technical language. It’s great to be an expert, but trying to impress clients with language they don’t understand completely undermines the sales process and potential value provided.

Tips to Improve Business Communication

•    Use fewer words rather than more words.
•    Ask for clarification if asked a question that you don't understand.
•    Use complete words and phrases rather than using acronyms.
•    Make your point using simple language rather than using business terminology.
•    Forget about trying to speak like an expert, just speak on the same level as your client.
•    Translate buzzwords into language your client will understand.
•    Engage the client by asking questions and listening.
•    Don’t overpower the conversation.
•    Be prepared and knowledgeable about your client and their needs.
•    Remember key points your client brings up.
•    Be honest and sincere with your comments and concerns for your client.

Be a Conversationalist

People generally like to talk...especially when they are talking about themselves or their businesses. This technique of communication can work wonders in your business or life. Ask questions so you can relate not only personally with a prospect or client but can understand how you can best relate your company's products and services to their needs and wants. Being the best conversationalist in business is not about monopolizing a conversation with specifications and reviews, but how back and forth dialogue can enhance the communication process and, ultimately, close a sale and add value.

Make Every Opportunity Count

There are endless opportunities to practice the art and skills of effective communication whether with prospects, clients, vendors, co-workers, or business acquaintances. These encounters might be at your place of business, a networking event, or an industry conference. Regardless of the individual or setting, make communication work for your business by practicing the finer points of simple, yet effective, communication.

For clients making decisions that have financial impacts always make sure you understand what is being conveyed to you by an Advisor and that you are comfortable moving forward. Never feel bad or embarrassed to ask questions or for explanations given to be explained again in a different way.

For questions or comments reach out to Brian directly at brian@gibborimfinancial.com .