Contructive Prospecting Thread

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Aug 15, 2007 12:07 pm

Hey I have an idea.  Instead of sparring, why don't we actually have a "convo"  that could benefit everyone (aside from DAtoo, since he doesn't prospect). 


Why don't we get a list of all of the objections that we hear on a daily basis and break them down, and develop a list of ideas on how to overcome those objections.


We did this to a certain extent with the "Cold Call Objection" Thread over in the rookies forum, but I think this could actually be a good thing.


I'll go first:


I already have an advisor.

Aug 15, 2007 12:10 pm

Handle this one:


"My son is my financial advisor.  Thanks for calling and good luck to you."

Aug 15, 2007 1:20 pm

I'm happy with everything right now.

Aug 15, 2007 1:40 pm
DAtoo:

Handle this one:


"My son is my financial advisor.  Thanks for calling and good luck to you."



Me:  Then we have something in common!  The only difference is, I wouldn't touch my parents' account with a 10 foot pole. 


Prospect:  Why not?


Me:  While I could take-over their account tomorrow, it's best to keep family and planning separate.  While I take a look from time-to-time, and make sure things are in-line, a hands-off policy is the best bet. 


My friend, a top-notch surgeon, has the same policy and says he wouldn't operate on his family members if they needed work.  Different scenario, same issue.


Why don't you come in and we can talk about it in depth?  I can then give you some insight into how emotions can cloud professional  judgement and lead to disaster.


(I'm no Bobby Hull, but every league needs rookies to get on the ice sometimes, right?)




Aug 15, 2007 1:50 pm
DAtoo:

Handle this one:


"My son is my financial advisor.  Thanks for calling and good luck to you."



"I already knew that..."

Aug 15, 2007 1:58 pm
Bobby Hull:
DAtoo:

Handle this one:


"My son is my financial advisor.  Thanks for calling and good luck to you."



"I already knew that..."



Oh really?  How did you know that?

Aug 15, 2007 1:58 pm
snaggletooth:

I'm happy with everything right now.


What is it about your portfolio that's making you happy? 


What is it about your advisor that's making you happy?


Aug 15, 2007 2:50 pm
Ferris Bueller:

[A good prospect is located not created and you make up for the No answers by calling more people.


I'm new, but this seems like incredible advice.

Aug 15, 2007 2:55 pm

It is very good advice... The hard part is applying it...

Aug 15, 2007 3:08 pm
Analyst:
Bobby Hull:
DAtoo:

Handle this one:


"My son is my financial advisor.  Thanks for calling and good luck to you."



"I already knew that..."



Oh really?  How did you know that?



Who do you think sold me your name?

Aug 15, 2007 3:25 pm

This is only appropriate if you are selling the appointment and you don't need someone to have large dollars to invest to make them a decent prospect:


1) Agree with all objections.  It does not matter what the prospect says.  I handle all objections pretty much the same. 


Prospect: "My son is a financial advisor."


Me: "That's good to know.  Many of my clients have children in the business.  Like I said, I have a meeting with Joe Blow in your office at 2:00 on Tuesday.  Can we get together for a few minutes at 1:50 or would sometime on Thursday be better?


Since I do a lot of insurance work, I just need a prospect to have assets or cash flow.  Either way, they can make a decent prospect.  Therefore, advance qualifying isn't important like it would be in a wirehouse.

Aug 15, 2007 3:52 pm
Bobby Hull:
Analyst:
Bobby Hull:
DAtoo:

Handle this one:


"My son is my financial advisor.  Thanks for calling and good luck to you."



"I already knew that..."



Oh really?  How did you know that?



Who do you think sold me your name?



Holy crap!  That's great. 


It keeps throwing me off, and making me want to ask more questions.  Raises the emotions I guess?  Kinda like prospecting for women?


I have a lot to learn!



Aug 15, 2007 3:55 pm
blarmston:

It is very good advice... The hard part is applying it...


I hear ya.  Thanks.

Aug 15, 2007 4:22 pm

My husband is the one that handles the finances...

Aug 15, 2007 4:23 pm
pretzelhead:

My husband is the one that handles the finances...


JUST TO CLARIFY: That was the objection...I don't really have a husband...

Aug 15, 2007 4:35 pm

My husband is the one that handles the finances...


This is probably the one objection that I wouldn't try to overcome.  The one common characteristic that I want with all of my meetings is that I want to meet with the decision maker.


Aug 15, 2007 4:59 pm
DAtoo:

Handle this one:


"My son is my financial advisor.  Thanks for calling and good luck to you."



"Call me when your son is out of the business in 6 months."

Aug 15, 2007 5:11 pm

My only advice is that is if you are saying the same thing, and you are not getting results CHANGE WHAT YOU ARE SAYING.


I sat next to this guy who said the same thing over and over and over.  Something like "I am a financial advisor and I work with clients to make sure they do not run out of money in their retirement."


His voice was very soft, dull , and BORING.  Needless to say, he failed.


Say something that makes people feel they NEED to meet with you.


And just keep up the good work.  Congrats to all of you working hard everyday.  This is a tough business.

Aug 15, 2007 5:12 pm
deekay:
DAtoo:

Handle this one:


"My son is my financial advisor.  Thanks for calling and good luck to you."



"Call me when your son is out of the business in 6 months."



Just another of the endless string of inane comments made by people who seem to take pride in their inability to contribute anything.

Aug 16, 2007 11:25 am
DAtoo:
deekay:
DAtoo:

Handle this one:


"My son is my financial advisor.  Thanks for calling and good luck to you."



"Call me when your son is out of the business in 6 months."



Just another of the endless string of inane comments made by people who seem to take pride in their inability to contribute anything.



Case in Point.