I deal with many financial service professionals day to day. Some sell life insurance and annuity products, while others offer those products, as well as others, as part of a Financial Plan. Not so long ago, a veteran life and annuity agent sat me down and began to ask me questions. In his hand, he held a piece of paper. It was a replacement notice from one of the carriers he represented. He explained that he was upset over the replacement. It was a "long-time client and friend" that has just moved his business away to another agent. The veteran asked me "how could this happen?" I replied in the most professional manner I could.

"This is a prime example of an agent not looking after the needs of his clients," I said. "And another, more aggressive, more helpful agent, going the extra mile." You see, it was the "oh well" approach from the veteran that led the client to offer another professional the opportunity to earn his business. The client could satisfy his need for a life insurance product by working with anyone that holds a license. What could the new guy have done to sway the client? I'll tell you. He used two tactics that are a must when you sell a commodity product: Asking Questions and Telling Stories.

Instead of going to great lengths to SELL the product to the client, the more trustworthy agent asked questions about the details of how the policy would be used. There were questions about family, business and personal goals. There were more questions about "what if" scenarios. Most sales professionals do not ask enough questions, yet it is one of the most effective sales tactics you can use. It leads to uncovering dreams, wants and desires. As you ask important questions, clients feel more known and understood by you as they answer. In turn, this discovery helps build a strong bond with the client.

In between questions and answers, the new agent began to tell short stories. They don't need to be long. A sentence or two, worded correctly, can be very effective. The stories were of how the agent has helped additional clients use concepts to accomplish their goals. When needed, he goes into detail so they can see how their financial situation relates to others. Story telling transforms the product or concept from a potential idea into a solution for your clients. Features, though exciting to an agent, are never that important to a client. Talking about benefits gives agents a bit more selling power than features do. It is story telling though that ultimately wins. It blends the how, when, why and what of the concept pitch into an entertaining presentation that holds their attention. Stories project you as a caring and informed financial service professional.

Now make sure you use these two tactics to win a few new clients, and keep the ones you already have.