146) Handling Objections on Initial Approach
Unit Trust Consultants will normally get "objections" when they try to ask people to discuss further on financial planning. Listed below are common "objections" and some ideas to handle them.
Few people don't like to use the word "objection". They prefer the word "concerns" or "holding back". The logic was that the prospect had other "concerns" and did not want to discuss. Or something is "holding back" the prospect from discussing.
Nobody likes to be given objections or being objected. Always remember that the Prospect objected or rejected the opportunity to discuss with the UTC. It is not the UTC (as a person) being objected or rejected, but just the discussion opportunity.
No matter which words you use, it is the concept that "further discussion is not going to happen."
Few people don't like to use the word "objection". They prefer the word "concerns" or "holding back". The logic was that the prospect had other "concerns" and did not want to discuss. Or something is "holding back" the prospect from discussing.
Nobody likes to be given objections or being objected. Always remember that the Prospect objected or rejected the opportunity to discuss with the UTC. It is not the UTC (as a person) being objected or rejected, but just the discussion opportunity.
No matter which words you use, it is the concept that "further discussion is not going to happen."
The main objective of the initial approach is to get your prospect to agree to discuss further. Some people term it as:
"To Sell the Appointment, NOT the Product".
"To Sell the Appointment, NOT the Product".
The discussion is to find out their problems so that you can provide possible solutions.
Below are some of the common "objections" or "reasons" and how the UTC can answer it politely.
Not Interested
Mr Prospect, I can understand why you are not interested in
something you are have not had the opportunity to know yet. How about giving
yourself an opportunity to know better. We just share the knowledge with
each other. Once you know better, then you will be able to decide if you are interested or not.
Not Ready
Mr Prospect, I would be surprised if you had said you were
ready and not doing something about it. How about we exchange knowledge and
ideas that will be useful for you. Once you are ready, you will know better
on what to do.
No Money
Mr Prospect, I understand that everyone is trying to reduce
expenses and make more income. Let’s share ideas and knowledge. Maybe one of
the ideas can help you to make more money.
No Need
Mr Prospect, you may not need it now. You will be the one
who decide if the knowledge is useful and valuable to you. You can always
share the knowledge with others who may need it.
Too Busy
Mr Prospect, everyone is busy
nowadays. This sharing will take a short while only. I will summarize for you.
You can decide if you want to discuss further.With the knowledge, you may be able to plan better. You will be less busy then.
Wasting Your Time
Mr Prospect, we are just sharing of knowledge. You may find
some value in the ideas shared. We can
learn a lot from each other.
How it works?
Mr Prospect, it is good that you want to know how it works. Let’s
discuss this further and I will answer all your questions.
Is it Unit Trust?
It is sharing knowledge on planning for your future goals.
After we understand your goals, we can discuss what are suitable for you. There
are more than just Unit Trusts.
Email to Me
I will be happy to send to you. However, there are many
ideas and knowledge that cannot be answered in an email. Let us discuss on what
you need and discuss how you can achieve your needs.
I have Pension/Savings
Good to know that. Let us discuss on how you can enhance
your current savings you have.You may be able to implement steps to make your savings work harder for you.
Reluctant Objector
Mr Prospect, it is nice knowing you. I really would like to
learn more from you. We will keep in touch and exchange more knowledge in the
future.
Where you got my number?
Mr Prospect, what is more important is that we get to know
each other. We can share and exchange knowledge with each other.
Once you have answered the "objections", request for a appointment to discuss further.
Notes to Approach
Objections
If this is via Telephone call or Face to Face meeting, ask
permission to have a short appointment with the prospect. It is to get to know
each other and sharing of knowledge.
Suggest time and date that is convenient for both of you. You may
suggest alternative time A or time B, to make it easier for the prospect to decide.
If you can, schedule a few appointments near to one another on
the same day. This is to minimize traveling time, effort and cost. It also
reduce the issues of traffic jam.
If the prospect have time, you may start the detail
discussion on the spot. Be prepared to present and share your ideas all the
time and at any time.
Do message me your own answers used.
Do share your experience and we all learn from one another.
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