Tuesday 10th Nov 2020
Modern-day customers demand honesty and authenticity from the organisations they liaise directly with – especially when conducting business during an ever-changing economic climate.
That’s why it’s important to leverage those communication skills when you’re having several, often difficult, conversations with prospects and an existing portfolio about their cashflow circumstances.
And although this article says ‘challenge’ – this isn’t really about going gung-ho into a client meeting and delivering a ‘hard sell’ approach as to why your financial solution is better. What it means is to be clear, precise, and human in the alternative options you’re presenting.
When speaking to customers about their current state of play – and where they can make improvements to their cashflow – being honest and comfortable enough to address any cash issues and alleviate fears can prove to be pivotal for both you as the broker and the business leader you’re speaking to.
Of course, there will – at times – be challenges coming from the organisations themselves, especially from those who find it difficult to move away from ‘how it’s always been done’. But as the expert, you’re there to help them through a more cost-effective process – providing guidance throughout.
- Listen to your customer’s concerns
This might sound obvious, but a client may typically only contact you when they’re experiencing financial trouble and need your specialist advice there and then. Find out what’s not working for them, identify any worries they have and work on a plan of action together – keep communicating.
- Address issues clients may raise regarding time and complexities
Many people stick with their current financial solution because they don’t have the spare headspace to switch to an alternative – even when this option might be better for them. As the broker, help them understand the pay-off when embarking on a change of direction.
And if they shy away from asking questions about financial topics they don’t understand, make them feel like they can rely on you to provide the answers they need.
- Be honest throughout
Often, organisations will be turning to you at a time when they need your help the most. Therefore, keep being truthful and provide solutions that will make their lives easier. Customers want to be aware of any ‘hidden costs’ or vital information to make an informed decision – that’s where you come in.
- Research the ever-evolving market
A savvy financial professional should always be ahead of the curve when it comes to responding to new or reformed guidance and regulations. If this year has taught us anything, it’s to be abreast of a changing business landscape. Take the time to get clued up on the various financial options available to customers.
We help over 800 SMEs to bolster their cashflows via our invoice finance services. Get in touch about our six-month trial period HERE.