I've learned a great deal during my 28 years as a professional specializing in middle age and older markets. Perhaps the most important lesson is that if a prospect doesn't trust you as a person, you have no sale regardless of the quality of your product. I've also learned that with each passing year, the typical prospect is a little more knowledgeable, more apprehensive of product claims and more inclined to take a little more time making decisions – especially on high ticket items. For these reasons, seminar sales will play a growing role in the success of those seeking to capture the exploding maturity market.
I can state without hesitation that the 50 plus market is aware that their choices have increased dramatically in their lifetimes. Life’s experience has also taught them the value of making only informed decisions. If confused about a product or service, they are less likely to make a purchase decision until someone takes the time to clear up the confusion. This is especially prevalent with insurance, financial services, retirement housing and health care choices.
While working with a national firm specializing in long-term care insurance, I found the reality of a confused market to be the biggest barrier to increasing sales. This confusion was documented by research summarized in an article for the National Underwriter. Age Wave, an Emeryville, California aging Research Company, had conducted the research for UNUM Insurance. The objective of the study was to determine what consumers between age 40 and 70 knew about long-term care. The result — 1 in 3 thought they owned LTC insurance. An interesting find when only 1% of the population and 6% of those over age 65 actually have a policy. When LTC insurance was described to them, 75% did not recognize the product as LTC insurance. There is clearly a need for more education.
Seminars and workshops provide an excellent vehicle for providing product information in a non-threatening atmosphere. All too often, consumers view new products as something they should be considering. Having little knowledge of the product, the choices available to them or even what questions to ask, places the consumer at a disadvantage in a sales interchange. A situation experienced consumers avoid.
I found the same thing to be true in the senior living industry. By offering information on housing and health care options in a non-threatening, information-packed session, prospective community members are very willing to ask tough questions and openly share their distrust of exaggerated claims and resentment of organizations that misuse statistics in an attempt to scare them into making a decision.
At a purely educational seminar, a knowledgeable professional can simultaneously build a relationship, positively position their product and overcome consumer apprehensions with facts and open dialogue. Seminars can reduce the cost of sale and time spent in one-on-one presentations while increasing the number of referrals. The hard part for many sales persons is forgetting that the objective of the seminar is to educate – not sell.
If the consumer feels the seminar is little more than a teaser to get an appointment, you will do more harm than good. As part of the invitation, attendees should be assured that there will be no follow-up calls or letters based on their accepting the invitation and no pressure of any kind during the presentation of information or immediately after.
If considering seminar sales, the following tips will help you succeed:
- Project a positive image. To paraphrase a quote attributed to advertising guru David Ogilvy, "Customers don't buy products that reflect an image of who they are but who they would like to be." Consumers buy to solve problems, fulfill aspirations, meet needs or protect their families and assets against future risks. Before you make that first presentation, determine the self-image most likely to create a positive perception and communicate it with vigor and enthusiasm. You'll want to be perceived as an experienced and knowledgeable person who cares about the consumer and can be trusted. We all prefer to buy from those we know and trust. While business is becoming more high tech, consumers want the sales process to remain high touch with an emphasis on personal service.
- Help the audience feel good. You only get one chance to make a first impression so make it count. Be positive and up beat. Dress and speak professionally and have fun. Personalize your introduction so people see you as a feeling, vulnerable and empathetic person…not just another salesperson. As the age of your prospect increases, their first impressions are formed more quickly and become more durable and difficult to reverse. While inexperienced consumers may give you a couple chances, the experienced consumer knows what they want and are less tolerant of bad service.
- Let the experience and creativity of the audience work on your behalf. By using fewer absolute statements about product features and benefits, you allow the prospective consumer to help define the product in context with their needs and years of experience. Storytelling will make it easier for prospects to quickly grasp your point. David Wolfe, author of Serving the Ageless Market 1990 and Ageless Marketing 2003, reports that storytelling is more effective for an older audience because the older mind process subjective information more rapidly. Also, most of us prefer deciding what to do rather than being told what to do; so give the audience the facts, not the conclusions.
- Your presentation is the first step in building a relationship. You begin building a relationship by allowing the audience to share their own stories and life experiences. In my experience, there are always several people willing to share their personal stories and frustrations. Once attendees identify themselves, use their experiences to help validate key points. Their values and lifetime experiences influence their perceptions as they process your information in context with both past and current circumstances. Allowing real life experiences to reinforce your points will strengthen the presentation and allow the audience to benefit from additional sources of information. Remain flexible enough to adapt stories and examples to keep them in context with the life experiences of your audience.
- Everything is a part of your presentation. That includes the atmosphere of the room as well as promotional, handout and presentation materials. Include images and symbols that key positive emotional responses - babies, the flag, Statue of Liberty, bald eagles, happy families. These value symbols will key positive emotions and open the mind to the message you will be presenting. Avoid fear tactics, racial, sexist or stereotypical references or graphics like older people with canes or minorities in menial service jobs. When threatened, the mind closes to new ideas, products and relationships. While you may be able to scare someone into a purchase, you are compromising a long-term relationship and future referrals in the process. If providing handouts, design them for all audiences. Text should be clear, easy-to-read (narrative style), personalized and involve the reader. Keep paragraphs brief and concise and use type no smaller than 12 pt. Younger people won't mind if type is a little large; but older consumers may avoid type that is too small or may even perceive you are hiding something.
- Keep data and materials current. In this age of information, available knowledge doubles approximately every two years. Your audience may have come prepared or will "log on" to the Internet following your presentation to check out your facts. Using statistics more than one or two years old will communicate that you are either lazy or trying to select only the statistics that support your view. With more research and information readily available to the typical consumer you must make sure that your source are current.
Whether you plan to purchase a seminar off the shelf or go through the time and expense to design your own, you cannot begin generating leads and referrals until you get before prospects. Your goal is to increase sales, but your presentation should be free of sales-oriented references. If your seminar gives the consumer the information they need to make an informed decision; you begin building relationships that will lead to both sales and referrals. I offer the following tips to help you do both:
- Develop a detailed list of presentation opportunities. Rather than beginning with large public seminars, begin with a 15 to 20 minute informational presentation. Contact your Chamber of Commerce for a list of Service Clubs or service organizations that need speakers on a regular basis. Always ask if there is a list that includes the current year's program chairman and contact that person directly. List your topic as a free talk with as many speakers' bureaus as possible and never miss a chance to speak on related topics.
- Use a Press Release to explain why your information is valuable. Create a catchy title for your presentation. Titling a seminar, Facts about Retirement, reeks of the probability of future sales calls and sounds boring. On the other hand, Risky Business…Protecting Your Assets, Your Family and Your Future is a title more likely to peak people's interest. Include interesting facts from credible sources in the announcement to further increase interest. Your press release will stand a better chance of being published if you can send it to an individual and let them know you are available for an interview or additional information. If you do not know the appropriate individual, call and ask who handles business/financial stories or community calendars. Talk to that person and ask what they prefer in length, approach, etc.
- Develop a plan to control the process. Determine how many presentations you want to do each month and maintain a speaking schedule. If people request additional information at the seminar, follow up no more than 72 hours later. Once you have established a need in the mind of the consumer, the first person with a good product and relationship building approach to contact the prospect is likely to get the sale. Therefore, you will lose sales if you schedule more presentations than you can follow up on effectively.
- Make it easy to contact you following the presentation. Most attendees will not feel comfortable sharing their history in a group setting. My personal preference is to use an evaluation form that includes a place to ask questions and request a free, no pressure consultation. I encourage everyone to complete the evaluation and turn them in as they leave. Having someone at the door to ask for completed evaluations is even better. All handouts or leave behind materials, such as preprinted postcards, should include information on how to contact you and be given out as people hand in their evaluations.
- When the presentation is perfected, offer a longer public or invitation only seminar. With this approach, those who come to the seminar have already expressed a need in your product by their attendance. The seminar provides a way to share an objective and detailed overview of benefits, product features and address consumer questions and concerns. If you come to be accepted as a trusted and respected professional who believes in their product or service but does no selling during their seminars, you will have better attendance and more referrals. A well-done seminar gives you a chance to overcome objections even before making your first call. When following up on referrals, you can ask those who are resistant if they would be interested in attending an educational seminar with no sales allowed. Once you have a list of 15 to 20 interested prospects, schedule and announce your seminar.
If people come away feeling like they learned something from a knowledgeable professional, you are more likely to make the sale during that first follow-up visit. If not, it could take two or more informational visits to build a level of trust that leads to a sale. Making a need oriented presentation to 50 or more people beats the heck out of making the same presentation 50 times. In the age of information, sharing that information could be your best tool in a competitive market.
For more information on Positive Aging services call
520.229.3503 or e-mail ambro@positiveaging.com.
Back
|
