How to Handle Rejection from Prospects
As an agent, it is inevitable that you will have to face rejection. While no one loves getting a no, Regional Sales Manager, David Russell outlines techniques he uses to turn these rejections into opportunities.
David Russell advises that your initial goal should not be to overcome the rejection, but instead acknowledge it. This means, telling the prospects you understand how they feel. Ask if anyone from our office has already reached out to them to help. David recommends acknowledging they are not interested, or maybe you caught them at a bad time. Mention that the market is shifting, so it’s possible they may have questions about that once you bring it to their attention. Ask them if you can call them back at a later time, perhaps in two weeks.
Getting a No
Generally, when a prospect says no, it’s a not a no to you. They just may not have taken the time to investigate the questions they would ask so you caught them off guard. An important thing to do during a conversation with a prospect that declines your assistance is to seek to understand them and find common ground. For example, agree with them, reassure them, and mention how important it is for them to invest their money wisely as the economy changes. Ask them how they handle these changes. Just see if you can get them to talk to you in a broad sense. If they mention that they don’t need your help because they already have a plan, say you understand, but ask them what they like about their plan and how it adapts to changes.
Depending on why you are calling them, there could be a time frame issue. Right now, we are at the end of open enrollment; so as an agent, you need to be aware of time constraints. This also applies to instances when prospects want you to call them back at a later date. If you caught them at a bad time but need to speak to them soon because enrollment is closing, make plans to call them back at a convenient time for them. If it is a broad subject, like health insurance, which doesn’t have an ending period, just set up a time to speak with them. David recommends speaking with them outside of the work week, perhaps on a Saturday morning. This gives you more time to speak with them, and to be more thorough.
If the prospect misses a scheduled meeting or phone call with you, David recommends calling them back and asking important it is that you speak with them. If the prospect replies that its about a 3 on a scale of 1-10, then it’s not necessary to meet right away. Ask when the best time for them is; it might be in the future when they are less busy. If they say it’s about a 6 or a 7, try to set up another meeting that night or the next day. It is important they get taken care of as soon as possible.
It’s very important to keep your prospects and appointments with prospects organized. Keep a calendar/reminder with details on each prospect. Follow up easily by creating a retention plan. Empower Brokerage recommends using the 30-60-90 method.
If a prospect asks you not to contact them again, don’t be pushy. Respect their request, and let them know if they ever have any questions or concerns in the future to feel free to reach out to you.
If you have any questions, please leave them in the comments section below or call us toll-free (888) 539-1633.