What Counts Most

You'd think investors would rate superior performance as the most important factor in choosing an investment dealer.

But you'd be wrong.

When Goldman Sachs asked their clients to rate the reasons for choosing them, return on investment was consistently below trust and similar issues.

In one survey, clients ranked track record only 9th in a list of 17 attributes. "A sincere desire for a long-term relationship" ranked higher.

David Ogilvy, the advertising genius, observed that sellers are wrong to emphasize superiority. You can accomplish just as much by convincing a prospect that your service is good.

Think about it. How good does a tradesman have to be when you are looking for a plumber, say, or a gardener? And how much more would you pay for the very best? For that matter how do you determine that a firm is "the very best"?

When asked "What is the main reason you continue to deal with this firm?" the most common answer clients give is "I just feel comfortable with them."

So, as Harry Beckwith says in "Selling the Invisible" (from which most of this is gleaned), "Prospects do not buy how good you are at what you do. They buy how good you are AT WHO YOU ARE."

What Counts Most - To learn more about this author, visit Donald F. Pooley's Website.

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