Improving the process in process-driven selling

October 04, 2018 by Moriah Diedrich

Improving the 'process' in process-driven selling by Advicent

About the author

Moriah Diedrich

Demand generation specialist

Moriah Diedrich is a demand generation specialist at NaviPlan, the financial planning technology provider of choice for more than 140,000 financial professionals.

Selling in service-based industries is often a monumental task compared to selling in product-based industries. Especially in the financial services industry, it can be difficult to create an efficient, repeatable process that demonstrates value to clients.

Process-driven selling was born from these challenges faced in service-based industries and helps refine workflows allowing sellers to focus more on client needs than on administrative tasks. For financial service providers, improving the ‘process’ in process-driven selling can be done by implementing a tool that reduces variability and adds tangible benefits.

Variability: How do I create a repeatable process that works for a variety of clients?

A defined and repeatable process is just as critical to a firm’s success as their unique experience and value proposition. Process creates guidelines to provide consistent value to clients but should be flexible enough to accommodate a wide range of client needs. 

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To do this, NaviPlan’s Scenario Manager can be used to model a limitless range of intricate financial situations. This and other modules of NaviPlan add structure to the selling process without restricting the ability of advisors to provide a variety of recommendations for clients.


Intangibility: How do I demonstrate the value I add as an advisor?

Services can be difficult to sell as they cannot be seen or felt. An important aspect of a financial advisor’s job, then, is to take intangible offerings and more clearly demonstrate their value to clients.

One way to do this is by converting your financial advice to an actual tangible report. Presentation module in NaviPlan allows advisors to guide prospects through financial scenarios and deliver an engaging presentation. Then, this plan can be printed out giving prospects a tangible piece to take away from a meeting.

Additionally, NaviPlan’s client portal gives clients and advisors 24/7 access to their personal financial plans. Clients can use this portal to see, manipulate, and evaluate adjustments giving a tangible feel to your advice.

Reducing variability in your selling process will increase efficiency and providing a more tangible planning experience will help clients further understand the value you bring as an advisor. Selling a service can be challenging, but the right process will allow you to provide consistent value to prospects and clients throughout the sales cycle.