Go WIIFM your way to sales success! By Schnurman

I love WIIFM. I can listen to them all day. No, WIIFM is not my favorite FM channel. WIIFM is an acronym for the sales concept “What’s in it for me?” Simply put, WIIFM is both the mindset and art of framing ideas, sales presentations and discussion in a manner that puts the client’s interests at the center of the interaction. Essentially, WIIFM is stating the value proposition in a way that connects, and resonates powerfully, with the client. It is not a generic sales pitch but instead it is customized to the needs of the client. Too often in sales presentations brokers mention facts and features without taking the next step to interpret them in a way that benefits the client. This is never a good idea. This often occurs because brokers possess so much knowledge about a particular asset, and in turn assume that everyone else will extrapolate the same clear benefits. However, we all know what happens when we make assumptions. Don’t fall prey to the curse of knowledge. Instead, proactively, clearly and effectively state the WIIFM and ensure that the client understands it. In brokerage you want to leave nothing to chance. Salespeople solve problems, and to solve problems they need to be framed in the interest of the person you are influencing. Clients have so much information from so many sources that they need to integrate into their decision-making process, so if you assume they can always do it effectively then you are leaving money on the table. Be explicit. Always frame your value proposition in terms of what is in it for your client. At the end of the day WIIFMs often, but not always, involve money.  But there is only one way to find out – by asking good questions. For example, during an exclusive presentation a client might ask you why you are charging what they perceive to be a high commission. By focusing on the commission you are doing the client a disservice.  Instead place the focus on how you will be providing a service that will put more money in their pocket, net of commission. You can simply say, “What is more important, you not wanting to pay my commission or you, net of commission, putting more money in your pocket?” Now go WIIFM your way to sales success! Mark Schnurman is the chief sales officer, principal at Eastern Consolidated, New York, N.Y.