On a recent episode of Road to Exchange, VettaFi Head of Research Todd Rosenbluth interviewed Jennifer Morgan, founder & CEO of Connective Communications. Morgan is slated to bring her “Storyselling” workshop to the Exchange Conference.
Morgan on Storyselling
Asked to unpack the term “storyselling,” Morgan said that, in financial services, it can be easy to get locked into stats, facts, and metrics. “The idea being that if you can connect to someone and make them envision something, see their future, really give them a path, and outline something using a story it's much more powerful.”
Morgan explained the neuroscience behind storytelling and how it can give people a path to connect with a fact or a stat. It is one thing to tell people they need a certain amount of money to retire. In a vacuum, that amount my not mean much. But, when you tell someone what that amount of money will allow them to do, it is suddenly easier to connect.
“It’s really creating a story around what that stat or fact is,” Morgan said.
Advisor Value Proposition
Speaking about advisors, Morgan underscored the importance of properly articulating their value proposition to clients. “People are looking for advisement on how to live their most fulfilled and limitless future through investments,” she said.
It can be easy for advisors to just start sharing raw information that leverages their expertise as subject matter experts without doing what Morgan calls “the detective work” of connecting with their clients. “Oftentimes we will go in and we won’t ask enough needs analysis questions.” Taking the time to hear about where clients and prospects are and what they want can be a huge difference maker.
Morgan Understands It Is All About Communication
According to Morgan, communication is key, but some folks think that sharing a lot is impactful. Morgan highlighted the importance of focus and brevity. “Its about how the bicycle’s been ridden, not how the bicycle's been built using what parts,” she joked.
She also noted that, on an MRI, the brain of someone who is sharing information lights up more than someone who is receiving communication, underscoring the importance of listening to build trust and connection. Subject matter experts such as financial advisors can easily make the mistake of steamrolling a non-expert. This means losing opportunities to connect. Morgan urged listening to prospects and hearing out their concerns and challenges. “From there you can create a solution to retrofit and actually help them live a more fulfilled financial future.”
Anticipation
“If I had to boil it down to one thing, it's being anticipatory,” Morgan said. Understanding how to respond when a prospect says yes, no, or maybe is essential. Even with a “no” there are ways to deepen a relationship. Morgan also noted that sales can unwind after a “yes,” sharing that, “They talk themselves out of a deal.” That's why a blueprint for how you will act and what you will say when certain things happen is so important.
The Best Selling Book
Morgan’s book, Hearts, Minds & Wallets, has made huge waves. Asked about the important takeaways, Morgan offered, “I think it is really about respecting people’s time.” Given that all people have limited time in the world, when they choose to spend some of that with you, it warrants respect. Morgan also offered that we should allow for as much grace as possible for others, because we don’t know what’s going on in their lives.
All of this underscores the importance of preparation in advance of a meeting. “At the end of the day, its understanding that the more prepared I am for your time with me, you are respecting my time, I’m respecting your time, the more enriching and fulfilling conversation we’ll have as a result.
Storyselling Teaser
At the end of the interview, Morgan offered a teaser for her storyselling workshop, which will cover neuroscience and storytelling in a jampacked session. How someone shows up to a conversation — their tone, what they are saying, how they are delivering it — can all have an enormous impact. “It can literally make or break someone’s day,” Morgan said.
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