Overcoming “No” – Handle Phoning Objections Like A Pro
When you’re phoning for new client meetings, handling objections is an essential skill.
When you master your ability to respond to objections in a confident, professional manner, phoning will become more enjoyable and effective.
There are only a handful of objections you’re going to get in your entire career. You’ll get them thousands of times and they should never throw you for a loop.
The key is to be prepared for these objections by knowing and practicing how you’ll respond when they arise.
“I’m all set.”
One of the most common objections you’ll hear from people is that they aren’t interested in meeting right now. This is just their natural first response to being asked.
So, for instance, let’s say you’ve just gone through your script and requested a meeting with a new potential client. You’ve leveraged your nominator or referral, who in this instance we’ll call “Mary.” But, your prospect replies that they have no need for a financial advisor right now.
This will be an objection you’ll face frequently and you should be prepared.
I would reply:
“Listen, Mary had no reason whatsoever to assume that you had a need, nor did I. Things have a way of changing over time. She simply suggested that it would be a great use of our time to get together.”
“Having said that, I know you’re in BLANK (location). If Tuesday doesn’t work, is Wednesday at 1 PM or 3 PM better for you?”
What I am saying is this: I don’t care if you have a need or not. Mary (the nominator) doesn’t know if you have a need or not. However, that’s not why I’m calling. I’m calling because Mary wants us to meet and I’ve heard great things about you.
The mindset behind the language is that this will be the seed of a future relationship.
“I already have an advisor.”
Another common objection is that they already have an advisor. To this objection, I would simply say:
“You know what, Mr. Prospect, I would be shocked if you didn’t have one already. Mary spoke of you as an individual of extremely high caliber, and I expected you would already have an advisor."
"What I’ve found over my career with people that already have an advisor is that after they meet with me, one of two things will happen. First, when I open up the hood and look underneath it, you’ll get the recognition and validation that the individual that you are working with is doing a great job and you’ll feel that much better about it.”
"Or, second, I may identify some needs that perhaps your existing financial advisor hasn’t recognized and they find that important as well. So the way I look at it, Mr. Prospect, is that neither outcome is a bad one. Therefore, if Tuesday at 1 PM is bad for you, does Wednesday at 2 PM or 4 PM work better?”
Make a commitment to go all the way, every time
Once you have your responses to handle your top objections, you need a little intestinal fortitude and guts to be able to go all the way to three objections with every single client you call. It may not feel natural and that’s why practicing is so important.
People are programmed to say no the first time and for most people, even the second time. Successful people appreciate somebody who has passion and has a relentless pursuit for what they want. Believe it or not, it’s more of a turn-on than a turn-off – as long as you’re professional.
I cannot tell you how many of my best clients I landed after going to the third objection.
When the answer is still “no” – your graceful exit
Once you’ve gone through three objections and the answer is still “no,” I’d say:
“Mr. Prospect, things have a way of changing over time. Would you have any objection if I kept in touch with you every six months?”
98% of the time they say, “No problem,” so you put them back in your system and you call them every six months. I had a lot of fun with people that I would literally have to call for four or five years before they would give me a meeting.
I’d say, “Guess what time it is?” and we would laugh. After enough of these follow-up calls, I’d finally just break down that you have to make choices. I couldn’t continue to call them year after year unless they were willing to meet.
That’s just one example of creativity to put you into the spot where you can get the appointment.
Successful people are willing to do the things that unsuccessful people won’t do. Mastering your language and being relentless in pursing appointments with potential new clients will set you apart, and your results will show it.
