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Objection

Consideration

Response

“I don’t want my funds locked away where I can’t access them, they’re useful to me now.”

This will often be a case of someone with more human capital than financial capital. They may not appreciate the value of defining investment goals but could have liquid investible assets such as an inheritance (Source: Jean L. P. Brunel, 2015).

This is a delicate situation fraught with opportunity. Talk though their life goals with them and identify the objectives that are enabled by these funds, and what they should and should not do. Create a small portfolio of investments they can make, and what it equates to in the future. Monitor the relationship, and help them make an investment that positions you as a trusted advisor and friend, into the world of investing.(Source: Jean L. P. Brunel, 2015).

“I’m happy with my current investments and outcomes where they are.”

This kind of situation is going to become more and more common as older adults pass down their accounts to their kids, and/or as advisors retire and pass down their accounts to younger advisors. Differences of opinion in how a portfolio is allocated can lead to disaster in the sales process and warrants the right approach to keep the client happy and investing with you. (Source: Jean L. P. Brunel, 2015).

Remember that the desires of the advisor are similar to the client: sustained growth through acceptable risk. You want to start by talking about goals, time horizons, and required probabilities of success. Use this to create an ‘audit’ of their current portfolio and point to outcomes that could impede achievement of a desired lifestyle or timeline. Ideally you can leverage investment and marketing material in that moment, and sustain the discussion over time. The benefit of investing hindsight makes it crucial that you have the right tools to guide the discussion.(Source: Jean L. P. Brunel, 2015).

“I disagree with your market expectations and recommendations.”

Client types with this objection can range from people who have made money in the past through investing to people who have worked in various markets throughout the financial world. The trick here is not to patronize with goals, or try to outsmart with your experience, but focus on the data and information.  (Source: Jean L. P. Brunel, 2015).

You want to leverage data and insight that cannot be argued. Use your investing content to lay out a wide range of scenarios that have played out across time periods and geographies. Allow the client to realize and appreciate that their knowledge & experience may have been narrow and/or out of context. The name of the game here is data and insight above all else.(Source: Jean L. P. Brunel, 2015).

“I have an advisor, why do I need you?”

This is the best objection you’ll get, if not the most common. This means the client has investable assets and your job is to “wow” them over. Avoid bashing the client’s current advisor, instead focus on how you can differentiate on service. A client with lower assets may be poorly serviced by their advisor, meanwhile a higher valued client could have their assets better managed.

BE CAREFUL not to promise on outcomes. Foresight in the investing world is risky business, and you don’t want to under deliver. Promise on things you can control.  (Source: WealthManagement.com)

First step is to pre-qualify the client. If they’re willing but not ready, put them on a drip-campaign. If they’re completely against your help, move on. Ask questions that make them think about ‘what could’ be with a new investing portfolio. Tell the client that your new clients often come from traditional firms, but the investor was ready to move up to the next level.  Alternatively, you can ask when the last time was that their advisor contacted them and advised on new recommendations. You’re trying to get the client to realize that new value is a phone call away. Offering a free assessment is a great way to start the conversation. (Source: WealthManagement.com)

Objection

Consideration

Response

“The product reacts poorly with my patients, and the competitor product does not.” (Source: Dorothy Leeds, 2011)

Don’t resort to selling your product, your role is to solve this problem and win the trust of the doctor. Solving the problem will win additional sales.

Assure the doctor that the drug is proven highly effective, turn the challenge to patient education. Provide digital content that supports this solution.

“The medicine you provide is too expensive, I prefer the alternatives.” (Source: Ifti Ahmed, 2013)

Price is just a function of perceived value. Consider helping the doctor redefine the cost-benefit.

Ask how the doctor measures the value. If they focus on price only, ask them about the impact of the overall treatment to the department budget, the efficacy of the alternatives, the clinical outcome, ease of use, patient preference, and so forth. It is wise to ask the doctor if they will consider the treatment if you can provide easy material to support the claims.

The Doctor doubts the efficacy of the medicine you provided.

This may have to do with knowledge or awareness of the product. Efficacy can be a broad range of factors, it’ important to ask questions and understand the root of this issue before jumping to a solution. For example, efficacy could be safety, results, ease of use, and even a long standing relationship with another provider that clouds perspective.

First get to the root of the objection. Determine the information needed to satisfy the objection, and provide that content in real time to instil trust in your capability.

Objection

Consideration

Response

“I don’t need it, XYZ won’t happen to me” (Source: Mike Brooks, nd.)

This objection is as much a factor of cost as it is a doubt that something won’t happen. Good questioning can open a world of opportunity.

Ask the client to consider the downside risk of not being insured. If they have a family, ask how they would manage. Probe for potential pricing limits and see if you can coordinate a policy to fit their budget. You’re in the business of providing peace of mind and confidence. Do so by being attentive and flexible to the buyer’s economic situation.

“I’m happy with who I have now.”(Source: Mike Brooks, nd.)

This is the common objection for insurance. Why be bothered when what you have is working for you. Thankfully, many agents are in a false sense of security and don’t often reconnect with their clients. This is the entry point for a keen agent.

Ask about whether their agent has ever reviewed their policy and called with additional ways to save. You could even just ask about the last time their agent called. You can leverage a mobile sales app to initiate the sales call and offer value added outcomes with a promise to keep saving them money and reviewing their policy details in the future.

“Why bother changing what I have now” (Source: Mike Brooks, nd.)

This is a moment when the buyer knows to expect a salesy response. Your job during this time is to show them that you’re not interested in the sale, you’re interested in being a trusted advisor to their insurance needs.

Tell the client you aren’t interested in them changing insurers, you’re interested in covering them with the right insurance for their changing needs, it just takes a review.

Objection

Consideration

Response

“We’re not hiring” (Source: AmericanStaffing.net, 2011)

This will happen often, and in many cases will be true. There will at some point be a need, and perhaps in an adjacent department.

Acknowledge the situation and thank them for taking the call. Ask if you may keep the relationship going with digital content and set the buyer on a drip campaign with planned future interactions.

“We can do this on our own” (Source: AmericanStaffing.net, 2011)

The buyer may actually have a need, and it is crucial to create an understanding that you are there to fill this role if needed.  

Provide details about the options immediately available with your company. The costs and risks of hiring can be alleviated with once phone call. Use content management to provide information about past successes and position as a go-to solution.

“Your fees aren’t worth it” (Source: AmericanStaffing.net, 2011)

As technical skills become more fragmented and top-jobs go to companies with mind share, the staffing agency has flexibility and solutions that solve problems today.

This is the chance to prove the difference. Leverage your digital content management software to start the sales presentation and demonstrate resume options that exist right now if they move fast. Explain how sifting costs time and money, and they could have the solution at the end of the week.