So I have been in the business for a couple of years, but am currently in a slump with opening new accounts. I cold call, and always worked in a large group environment, but right now, I'm just working with one associate in an independent office. I think being around other people and hearing their banter was always a reminder of certain rebuttals I might not have used recently or forgotten about. I've found some great reminders on these boards, but I was looking at a few books also, and wondering if anybody has used any of these:
The Financial Planners Mastermind Sales Script Book
Financial Advisors Script Book
I've also seen a lot of mention on here about books by Bill Good, but I am wondering if thats more about sales technique or actual rebuttals.
I appreciate any info, or suggestions that can be provided.
Definitely not pimping for any sites, I just found those googling and they seemed interesting, but I don't want to order them if they don't get good reviews.
As far as just going back to what I'm doing, thats always good advice, thanks. I'm doing the dialing, I have the energy, just feel like im lacking some of the common sense rebuttals and maybe overcomplicating things.
I had ordered that 2nd book by George Miller. Don't bother.
Besides, even George would tell you to develop your own rebuttals using his book as a guide.
If you're getting OBJECTIONS, it's because you're not asking enough QUESTIONS.
Thanks for letting me know not to grab that one. I totally agree about using my own rebuttals, Ive always believed you have to come up with your own fresh stuff, just looking for some kind of reference to remind me of stuff I used to say that was effective.
And very true... questions are key, definitely something to work on.
Conquering objections for the most part doesn't come from a book, rather you understanding that whatever they say is just another way of saying no. Look at it like this when a tennis game all of a sudden transpires where you keep knocking rebuttals and there still being thrown at you, look at the psychology of what is actually taking place which is--I am interested in doing whatever it is you want me to do you just haven't said the right thing to have me do it.
People that have no interest in your product or service tend you just respond with a hang up.
Besides a rebuttal book is just another way of not working and if there is no effort there are no results.
I totally agree with this post -- researching cold calling is a bit like researching how to play the guitar. Yeah, you may read about an interesting technique or two, but you won't learn anything until you actually pick up the guitar and play. Sure, you're gonna make some mistakes and it may sound awful at first, but playing is the only way you're going to get better.
I went independent about 6 months ago (coming from a wire) and sometimes I too miss life in the bullpen. Cold calling was infectious in a room filled with that many people (and it was always motivating to hear someone succeed, reminding you that the process works).
I've recently gotten back into it (after bringing my accounts over and foolishly thinking that referrals were going to keep my pipeline filled). It's hard picking it back up again, but I'm seeing results already. If you're old standby pitch doesn't seem to resonating with prospects, trying calling on product or a complimentary portfolio review. It's a great way to open up the conversation and to get them talking.
Remember, there are only two things you need to do on a cold call:
1. Qualify the prospect -- do they have $$$$ to invest
2. Sell the prospect on you -- do they want to know more about your process/product/investment strategy
If you hang up the phone and you've done both of these, you stand a very good chance of closing some business.
TAPE RECORD YOUR COLD CALLS.
It was the one most powerful thing in improving my presentation. When I taped myself and hear it for the first time I sounded like a retarded daffy duck with a lisp and terrible grammar. I considered cutting out my tongue and trying the sympathy fukc approach as the worlds only dumb (as in can't talk but please have your fun) broker.
Old thread, but Great advice, Gaddock. I'm going to give it a try. Although, I hate the sound of my voice, so listening to myself will be excrutiating. One thing I always try to tell myself is that the purpose of my call is to get to know this person, not to close a sale. I'm not selling encyclopedias and I'm not trying to convert someone to Mormonism (now THAT is sales!!). It makes me feel more comfortable, but it might not be the best approach....
I looked at The Financial Planners Mastermind Sales Script Book hard but, haven't gotten the $ out of my pocket. It's hard to dismiss Tom Gau. This business is about communicating. Attitude is first. After that i'm thinking it's a good idea to have a gene pool of questions and responses that have worked for others to begin refining what works for me.
Gadock, right on!
Be prepared to laugh at how big a gap their is between how you thought you sounded and how you really did. After recording myself for almost a year, it is still invaluable.
I hear the best rebuttals are "thank you for your time", and move onto find the next prospect.