In my sales training programs, one important exercise I’ve used is “50 Reasons Why People Should Buy from You.” When I ask LOs why prospects should do business with them, most students cannot come up with more than a handful of reasons — let alone 50.
Once LOs move beyond the standard answers such as “I am experienced” and “I have integrity,” many default to why their lender is so great. Unfortunately, typical refrains such as “we have excellent service” are simply not enough to earn new business.
Developed by Tom Stoyan, a Canadian consultant and President of the Coaching and Sales Institute, the exercise forces sales professionals to think beyond their lender’s canned marketing messages and create a compelling case for why borrowers or referral sources would want to partner with them.
Try it with your own sales team! Ask LOs to write down 10 answers to each question:
- Why should a prospect buy your product/service?
- Why should a prospect buy from you?
- Why should the prospect buy from your company?
- Why should a prospect buy at your price?
- Why should the prospect buy now?
Originators who work through this exercise will be able to drill down and hone their unique value proposition for potential home buyers and real estate referral sources and ultimately position themselves to win in the marketplace.