There is a saying that’s very well-known in German financial sales: ‘Fachidiot schlägt Kunden tot’ (loosely translated as ‘technical jargon kills clients’) – it means you shouldn’t try to overwhelm your customer with technical details. But the wisdom of this advice is far too rarely heeded.
And product names such as ‘Rainbow Barrier Euro Stoxx 50 Bonus Certificate’ do not contribute to greater clarity either. Many sales people tend to overload the customer with information instead of telling an exciting story about their products. Because we believe that mass is class. And don’t believe that less can be more.
Look at yourself: if you were sitting in a restaurant, what would you rather eat: a steak or a whole cow? Probably the steak, even if you got the cow with the hide, horns, hooves and the rest thrown in. Good salespeople serve their product benefits in manageable pieces. You know from crime writers that you can’t build up tension if you write on the first page that the gardener is the killer. And you know that abstract and intangible financial products always need a good story if you want the customer to understand them.