Objection Handling – Is It Possible to Forestall Objections?
This is a guest post by Don Connelly, originally published on FA Magazine website.
The late Zig Ziglar observed that every sale has five basic obstacles: no need, no money, no hurry, no desire, or no trust. Which of these obstacles is a Financial Advisor likely to experience and can they be forestalled?
We can eliminate three of those obstacles as unlikely.
We can reasonably assume that folks sitting with an Advisor recognize the need for professional planning. They have money available or they wouldn’t be sitting with you. The same can be said about desire.
What about if people don’t feel the need to begin right away? That objection should not come up if the need for action is put into perspective. Explaining to young parents that in 180 months a three year-old will be in college is provocative. Telling a fifty year-old that he only has 180 monthly paychecks left until age sixty five is sobering.
The issue of trust is an interesting one. Trust is simply a belief in the reliability of someone. That’s of utmost importance when your goal is to change someone’s mind. If people trust you, they will assume you won’t let them make a mistake.
But people cannot judge your reliability if they haven’t had time to see you in action. Fortunately, people place a premium on potential. Feeling you are trustworthy goes a long way. And there are actions you can take to engender trust.