Sales Resources
Advanced Sales Tactics For Finance Brokers: Pre-Qualifying Warm Leads

Advanced Sales Tactics for Finance Brokers: How to Build Trust with Prospects and Close Deals

Are you tired of the constant rejection that comes with being a broker in such a competitive market?

Do you struggle to gain the trust of prospects and close deals, despite your best efforts?

As a finance broker in a competitive market, it's important to stand out and earn the trust of your prospects in order to succeed. Building trust and rapport with leads can be challenging, especially when you're up against other brokers vying for their business. While using warm digital leads from a reputable supplier like Leadify will increase the percentage of qualified leads you receive, there are still steps you must take to further qualify and close deals with these leads. In this article, we'll discuss advanced sales tactics that will help you to build trust with prospects, establish rapport, and increase your chances of closing deals.

Making the Prospect Sell Themselves: Using Open-Ended Questions to Identify Needs

One advanced sales tactic is to make the prospect sell themselves by having them talk about their desires. This can be achieved by using open-ended questions that encourage the lead to speak about their goals, challenges, and decision-making process. For example, you might ask:

"What are you looking to achieve with a business loan, Rachel?"
"What has been holding you back from getting an auto loan in the past, John?"
"What motivated you to consider refinancing your mortgage, Sarah?"

Asking your lead about their desires is not only a way to learn more about their needs, but it also helps to build a connection with them and make them feel like they are a part of the conversation. Plus, who doesn't love talking about themselves and their hopes and dreams? It's a win-win for everyone!

Pre-Empting Objections: Addressing Concerns to Build Trust and Credibility

As a finance broker, it's crucial to be able to anticipate and address objections from leads in order to build trust and credibility. It's frustrating when a prospect is hesitant to move forward with a loan due to concerns about this and that, but pre-empting those objections and offering solutions, you can help to alleviate their concerns thereby increasing your chances of closing the deal. Remember, your knowledge and expertise in the finance industry is what sets you apart from the competition, so use it to your advantage and show your prospects that you have their best interests at heart. For example;

"I understand that the repayment schedule can be a concern when taking out a business loan, Dave. Our loans offer a flexible repayment schedule, so you can choose a plan that works best for your business. This allows you to better manage your cash flow and focus on growing your business, rather than worrying about loan payments. Is that something that would be of interest to you?"

By pre-empting objections and offering solutions, you can help to alleviate the lead's concerns and build trust in yourself and your company.

Building Trust in Yourself and Your Company: Tips and Strategies

In such a competitive market, it's essential to stand out and earn the trust of your prospects in order to succeed. But let's be real, building trust and rapport with leads can be tough at times - customers are smarter than ever. That's why it's important to show your prospects that you're the real deal and not just another finance broker looking to make a quick buck. Being transparent, providing valuable resources and information, and showcasing your expertise can all help to build trust and credibility. And don't forget to use social proof to show that other people have had success with you.. After all, nothing says "trustworthy" like a bunch of satisfied clients singing your praises.

For example, you might say:

"We have helped hundreds of small business owners just like you secure the financing they need to grow and succeed. In fact, one of our recent customers, Maria, was able to increase her sales by 50% within the first year of taking out a business loan with us. Would you like to hear more about how we can help your business succeed?"

Rapport Building: Establishing a Connection to Increase Your Chances of Closing the Deal

Rapport building is another important aspect of pre-qualifying leads. By establishing a connection with the lead and making them feel comfortable, you can increase your chances of closing the deal. There are several ways you can build rapport, including finding common ground, using the lead's name, and actively listening to their needs and concerns.

For example, let's say you are working with a lead named Sarah who is interested in refinancing her mortgage. You might start by asking her where she is currently living, and if she mentions that she is from the same city as you, you can use that as common ground to establish a connection. You might say:

"Oh, I'm from [city] too. How crazy has the rain been this year?! [let them talk - do not interrupt, respond in a thoughtful manner] then transition… So, tell me more about why you are considering refinancing your mortgage."

It's important to remember that building rapport is about establishing a genuine connection and understanding of the lead's needs and concerns, not about cracking bad jokes or being cheesy. Emotional intelligence is key in sales, as it allows you to read the lead's reactions and adjust your approach accordingly. By being attuned to the lead's emotions and respecting their boundaries, you can avoid breaking rapport and maintain a positive and productive relationship.

Statistics show top sales performers discovery calls are 76% longer than low performers.

Finding Common Ground and Using the Lead's Name

Using Sarah's name throughout the conversation can also help to build rapport and make her feel more valued as a customer. People love to hear their names! For example:

"So, Sarah, what are you currently paying in mortgage payments each month?"
"Thanks for sharing that with me, Sarah. That's really helpful information."

Actively Listening to the Lead's Needs and Concerns

Active listening is another key element of rapport building. By fully focusing on what the lead is saying and demonstrating understanding through verbal and nonverbal cues, you can show that you are genuinely interested in their needs and concerns. This can help to build trust and establish a rapport that will be beneficial as you move forward in the sales process.

  1. "Mm-hmm" or "Uh-huh" to indicate understanding and agreement
  2. "I see" or "I understand" to acknowledge the speaker's perspective
  3. "Tell me more" or "Can you expand on that?" to encourage the speaker to share more information
  4. "I appreciate your honesty" or "I understand how you feel" to show empathy
  5. "What I'm hearing you say is..." to demonstrate understanding and provide a summary of the speaker's main points

Tonality To Build Human Connection

Tonality is the secret sauce of sales - it can be the difference between a deal sealed and a lead lost. Use it to your advantage by injecting some enthusiasm and confidence into your voice. It'll help you build trust and rapport with your leads and make them feel like they're in good hands. Using tonal patterns you can find structure in your tonality, see below;

"Getting your hands on a new Ford Ranger, huh? [Excitement]
"That's a top-notch ute mate. Just think of all the trips you could do with that beast!" [Enthusiasm]
"Have you thought about how you'd like to finance it yet?" [Curiosity]
"I mean, who wouldn't want to drive around in a shiny new ute?" [Confidence]
"Looks like I could get you pre-approved for finance in no time based on your profile." [Sincerity] [Assurance]
"How does that sound?" [Clarity]

Tonality is truly an art form and mastering it can take a lot of practice and experimentation. While we can't possibly cover everything there is to know about tonality in this article, there are some great resources out there for learning more about this important aspect of sales.

Some books we recommend include "The Lost Art of Closing" by Anthony Iannarino and "Influence: The Psychology of Persuasion" by Robert Cialdini. Both of these books delve into the psychology of sales and offer valuable insights into how to effectively use tonality to build trust and close deals. Simply Googling about tonal patterns will yield a lot of valuable information too. Additionally, you may want to consider working with a sales coach or taking a sales training course to help you hone your tonality skills.

Research suggests 93% of call success is attributed to tonality.

Closing the Deal: The Importance of Circling and Trial Closes

Circling is a sales tactic that involves returning to the same topic or point multiple times throughout the conversation. This can help to reinforce the importance of the topic and increase the likelihood that the lead will remember it. For example, if you are working with a lead who is interested in a business loan, you might circle back to the benefits of the flexible repayment schedule.

"I know we've talked about the pain of volatile cash flow a few times, Sarah, but I just wanted to emphasise how important it is that we get you payment terms that will be right for you. Using tailored loan repayments based on your cash flow, whether it be weekly, fortnightly or monthly means you can focus on growing your business and reaching your goals rather than being held back by inflexible loan terms. Does that make sense?"

Finally, trial closes are a useful tool for gauging the lead's level of interest and moving the conversation forward. These are subtle questions or statements that allow you to test the waters and see how ready the lead is to make a decision. For example, you might say:

By using trial closes, you can get a better sense of where the lead is at in the decision-making process and determine the next steps to take. Just be sure to use trial closes in a natural and subtle way, rather than coming across as pushy or desperate. And for the love of all things sales, please don't use any cheesy lines like "If I could show you a way to save thousands on your mortgage, would you be interested?" - it's not only cringeworthy, but it'll likely turn your lead off completely.

Structured Sales Process: How to Get Your Team Consistently Practicing These Strategies

To get your team consistently practicing these, it's important to create a structured sales process that includes training and ongoing support. Start by training your team on these tactics and setting clear expectations for their use. You may also want to consider incorporating role play exercises or other interactive learning methods to help your team practice these techniques and build confidence. In our office we like to have a bookcase constantly filled with new books and monthly book recommendation from management. This is a great way to provide endless resources to keen learners!

Another helpful strategy is to establish a system for tracking and measuring the success of these tactics. This could include setting goals for the number of deals closed or the amount of business generated using these techniques. This can help to motivate your team and provide them with a sense of accomplishment as they see the results of their efforts.

Finally, be sure to provide ongoing support to your team by offering regular coaching and feedback sessions. This can help to identify any areas where they may be struggling and provide them with the guidance they need to improve their performance.

Overall, there are many advanced sales tactics that can help you to effectively pre-qualify leads and increase your chances of closing the deal. By asking open-ended questions, pre-empting objections, building trust, establishing rapport, and using trial closes, you can create a more personalised and engaging sales experience for your leads. And let's face it, we're not in the 90s anymore - those aggressive, cringe old school sales tactics just don't cut it anymore in the modern world. So, embrace the future and focus on these tactics to improve your chances of success and help your finance brokerage to thrive with an excellent reputation to boot.

Latest and Fresh
up arrow icon
Read more Latest Insights
Auto Finance Brokers & Lenders image
up arrow icon
Newsletter April 2023 - Leadify's Q1 Success: Helping 100+ Clients Across 10 Industries Achieve Remarkable Growth
We're proud to share our Q1 success, where we helped over 100 clients across 10 industries achieve remarkable growth through our high-quality, pre-qualified leads. In this edition, we will highlight a unique opportunity for the mortgage refinance industry and a surge in demand within the property investment sector.
April 15, 2024
Auto Finance Brokers & Lenders image
up arrow icon
Newsletter May 2023 - Buying Leads: The Importance of Proof of Consent in Australian Lead Generation
Please enjoy the latest edition of the Leadify newsletter. We are delighted to share with you our insights and knowledge on lead generation, conversions, and strategies for business growth. In this month's edition, we share some insight around what we're expecting to see as we near the end of the financial year, as well as introduce a new addition to our team. Furthermore, we're pleased to share an article about the importance of proof of consent in Australian lead generation
April 15, 2024
Start your growth journey today.
Join forces and build your business on a foundation of qualified, conversion-ready customers. Reach out today and set the stage for sustained growth and success.
Start Your Growth Journey
up arrow icon