From working in sales over the last two decades, there is one way I have witnessed as virtually 100 percent effective in overcoming objections: the “feel, felt and found” method.
How many of us have heard, “I already have somebody I’m working with, and he does a great job,”? Many advisors struggle with how to respond to this statement, but this is the perfect opportunity to use the feel, felt, and found method.
When a client says he or she is already working with someone, the client might really be saying, “I have a guy I use, and I’ve used him for a while, and I don’t want to be seen as ‘cheating’ on him.”
My top advisors might respond, “You know, Mr. Jones, I understand how you feel. In fact, most of my clients are seniors who had an advisor they worked with for a very long time. These same clients, like you, felt like things were taken care of. But what they found is it doesn’t hurt to have a second pair of eyes review what has already been done to see if there might be any room for improvement.
“Regardless, with something as important as your nest egg, it’s always advised to get a second opinion. If nothing else, it reconfirms you are on the right path. However, if there are better ways to achieve your retirement and legacy planning goals, we can identify them together.”
By acknowledging how your prospect feels, you acknowledge you have heard him or her. The felt statement shows the objection is not really a reason not to do business with you. The found statement shows how their peers were rewarded for their eventual change of heart. Put the three together and it is a great way to get a prospect to change his or her mind and feel warranted, if not justified, in doing so.
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Wendy Swanson has been working with and coaching insurance agents and advisors for nearly 15 years. As a marketing coordinator for Senior Market Sale, Inc., she coaches advisors on marketing tips and sales approaches for annuities and life insurance. She can be reached at firstname.lastname@example.org.