February 10, 2012 
         

Handling Client Rejection



Marvin Feldman, CLU, ChFC
Wednesday, March 1, 2006

Client rejection always hurts, and after 40 years in the business, I am still trying to find a way to avoid it.  The truth is, client rejection is prevalent in our work and will always be a factor.

 

The longer I’m an advisor, the more frustrated I get when potential clients choose not to utilize my services.  After all, I have a lot of experience in the industry and am successful – why wouldn’t they want to work with me?  The answer is, more often than not, the client is simply saying no to my suggestions, not to me as an advisor.  Again, it’s just the nature of our business.

 

I’ve learned that many potential clients are merely “china eggs” – the business never “hatches.”  I don’t waste too much of my time anymore holding on to those names, but rather look for other prospects who will generate great business.  What techniques do you use to handle client rejection?


READER COMMENTS
Bill Upson
Monday, March 13, 2006

I take the position of trusted advisor seriously, as I am very sure you do.
I have found that using what I call my "Stupid letter",(available at my website) at no charge, that I can convert 80% of the "No's" to "Yes's", because they quickly realize I really care. I am not there to sell them something, except reality. The letter simply says what it will cost them to make a poor decision. I have them sign it, or if they refuse to sign it, I sign, date and time stamp it.
Since I provide many LTC solutions and estate planning alternatives in my practice I need to have documentation that the clients saw and understood what they were unwilling to do. Then when their kids show up with the "why didn't you protect my parents (my inheritance)" routine I have my docs.
Turning a prospect into a friend goes back to the old saying by someone in our profession who said "they don't care how much you know until they know how much you care!" Maybe it was your Dad.
Hope this helps.


READER COMMENTS
Jeff Chew
Thursday, March 9, 2006

I expect rejections. The way I handle them is by bringing up statements about rejections during the presentation like "many of my clients will say 'No way!' when I pointed to premiums but when I show them the....."

The point here is to show them that we all feel the same way. The more we can make them feel that many "successful" others are buying from me or doing the opposite of the prospect, the least they are likely to resist.

Do anticipate possible rejections and bring forth before they put us in akward situations.


READER COMMENTS
Babs W. Hart
Tuesday, March 7, 2006

I never occurs to me that someone is rejecting me.



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