As a sales trainer, this is actually one of the most common questions I see from newer agents. Truth is if you do a good job building rapport, trust, listen to the client’s needs and show your product or service as a solution to their problem, you shouldn’t get objections. Almost always the true objection is the money. In other words your “cure” is more expensive than their problem. Most people don’t readily come out and tell you that they just can’t afford what you are selling. Maybe its ego, embarrassment, or pride, but usually the salesperson has to do their due diligence to find this out. Here are some of the most common objections that we see and how to respond to them.
I believe the number one objection is the “Need to think about it”. This stops the unseasoned salesperson in their tracks. The sales pro just smiles and keeps on going. This is more of a stall than an objection. What the prospect is really saying is “this is moving too fast and I’m not comfortable.” In the insurance business, we teach the think about it trap. You simply ask how long they need to think about it and before they answer, you tell them two or three weeks long enough, which is plenty of time. When they agree, you say “great that’s just how long it takes to go through underwriting. So why you are thinking about us, we can be thinking about you.”
My favorite is the “Never buy anything the first time I see it.” This is an easy one. I look at them very puzzled and say, “no way, I have never met anyone who does that. You mean you go to the grocery store and fill up the cart with groceries, leave and come back the next day to buy them?” It’s funny to listen to their answer when they realize how that sounded.
Last but not least is the “I’m not interested” objection. I am sorry to inform the new sales person, but that has more to do with you than them. If you hear this very often, you need to revisit your whole presentation from top to bottom. Back to the basics of building rapport, trust, listening, caring and problem solving and stop just selling. People hate to be sold, but they love to buy. Stir the emotions and let them buy not try to ram it down their throat.
“An objection is not rejection; it is simply a request for more information”—Bo Bennett
Tim Wilhoit is owner/principal of Your Friend 4 Life Insurance Agency in Nashville, TN. He is a family man, father of 3, entrepreneur, insurance agent, life insurance broker, salesman, sales trainer, recruiter, public speaker, blogger and team leader with over 25 years of experience in sales and marketing in the insurance and beverage industries.