Hot business tip number 14: Get better at handling objections
Listening is key to understanding client objections.
An objection is simply a client telling you they are uncertain and looking for more information to validate their decision.
The key to dealing with objections is to listen carefully and say “I understand” (everyone wants to be understood!)
When responding to your client, make sure you use their own words back to them. For example:
Objection: “I need to think about it.”
Response: “I understand, other clients have said that too. Remember though that cover can be harder to get and more expensive as you get older, so why not lock it in today?”
Objection: “I can’t afford it, money is too tight”
Response: “The fact that you think you can’t afford it shows how important every cent of your income is to you. In other words you can’t afford to not have this cover”.
Reframing your questions to be more positive can also drive more positive outcomes. Preparing for a client appointment is really no different to preparing for a job interview; you should be able to anticipate the sort of questions you will be asked and have your responses well rehearsed. And never forget that the solutions you are recommending are good, and important, and ones you can be proud of. When that penny drops, you can tackle any appointment with confidence and you will be well on the ‘track to success’.
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This is an extract from a collection of business improvement tips for advisers, launched at Zurich’s Trax2Success national roadshow, featuring the 2013 AFA Adviser of the year Jenny Brown.
Click here to read Hot business tip number 1: Look after yourself and your staff
Click here to read Hot business tip number 2: Survey your clients
Click here to read Hot business tip number 3: Place a higher value on your time
Click here to read Hot business tip number 4: Review your client onboarding process
Click here to read Hot business tip number 5: Adopt an estate planning methodology across your business
Click here to read Hot business tip number 6: Tailor your communication strategy by client generation
Click here to read Hot business tip no number 7: Change your approach to review meetings
Click here to read Hot business tip number 8: Create a differentiated service offering (segment your client base)
Click here to read Hot business tip number 9: Set up a Board of Advice
Click here to read Hot business tip number10: Develop a client retention strategy
Click here to read Hot business tip number 11: Run a program where staff drive improvements
Click here to read Hot business tip number. 12: Build your emotional intelligence
Click here to read Hot business tip number. 13: Go Social
Click here to read Hot business tip number. 15: Create stronger referral sources
Click here to read Hot business tip number. 16: Set up a Google account
Click here to read Hot business tip number. 17: Learn from leading advisers
Click here to read Hot business tip number. 18: Make better use of technology in your business
Click here to read Hot business tip number 19: Improve your office environment
Click here to read Hot business tip number 20: Develop a great value proposition
Click here to read Hot business tip number 21: Make more use of video in your business
Click here to read Hot business tip number 22: Optimise your website for mobile
Click here to read Hot business tip number 23: Have a marketing plan
