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Objections are the linchpins in any financial product or service sale. Building a strategy that overcomes and pivots around these challenges is going to get you more deals. But, saying it doesn’t get it done it needs to be an ongoing part of your sales strategy and professional growth process.
Here are the building blocks to making overcoming objections easy in your finance product selling.
Listening Intently
Financial products and services are inherently complex. That means every customer is going to come to you with lots of questions.
If you start in with a canned sales pitch objections are going to immediately fly. Not necessarily because they don’t want to work with you, but because they want to ask questions.
Start your process with questions about their needs and then shutup and listen. Listen closely and even take notes. When you start talking you should refer back to specific issues and concerns they raise. This will reassure them that they are the center of your concern.
Creating Transparency
One of the main concerns finance customers have is hidden agendas and fees. You should, early in the process, let the customer know how you get paid. Explain how this compensation arrangement advantages them and keeps their needs at the center of any business you do together.
Continue this open honesty throughout your sales process.
Providing Education
When you do talk the process should feel more like a classroom than a boiler room. The customer should feel they are learning. They should be growing in confidence about their knowledge of the financial transaction they are about to make. Better yet, you will be such a good teacher that they feel like they can impress their friends and neighbors with their knowledge and tell them about the good deal they got–this will bring referrals for sure.
Building Trust
Listening, transparency, and education work together to bring the most important thing–trust.
Objections radically decline as you build trust in a relationship. Start with small and verifiable promises and references related to your work. Follow-up on calls, get them additional information quickly, point them to testimonials, show them references in national media that recommend similar solutions.
Build trust and objections fade away.
