Advisor Resources: Better Conversations Podcast

Where do client objections come from?

Overcoming objections banner

Objections come in many forms. Whether a client doesn’t fully understand your recommendation or they are dragging their feet and not returning your calls, how you navigate this resistance from clients and prospects can be the difference between a thriving business and one that is stuck in the mud.

Recently, in episode 61, Sarano Kelley shared a framework to identify where client objections come from. He suggests that the root of this client behavior may actually be due to a lack of advisor understanding and process. Sarano suggests an objection is really just the byproduct of a broken process. So, how do you fix this? Let’s take a look at the framework.

The schematic that Sarano shared uses a variation of the sales cycle to help you identify where a client objection might be coming from; so you know exactly where to pinpoint an improvement in your communication style. Here are the four steps, and questions to ask yourself along the way:

Leverage = All the ways you meet new clients

  • During the introductory process, does the prospect fully understand who you are and how you help people?
  • Was the prospect introduced to you properly?
  • Do you fully understand what the prospect expects from you?

Rapport = The client likes you

  • How engaged are they in your conversations?
  • Are they quick to agree, or do they challenge your ideas?
  • How quickly are your calls and emails returned?

Relationship = The client trusts you

  • Do they share openly with you or are they guarded with information?
  • How engaged are you in conversations with them?
  • Are you actively listening and asking questions, or is your mind thinking about what you’re going to say or recommend next?

Recommendation = The client does business with you

  • Does the client fully understand your recommendation?
  • Did you check in with them along the way to make sure they don’t sign off without reviewing completely?
  • The client continues to stall – how do you decide if you should continue pursuing this client relationship or move on? Consider the appropriate response based on these potential answers you might receive:

Utilize these frameworks to pinpoint exactly where a client objection is coming from and where you can make improvements to your process. Doing this will help you ensure the next time a client drags their feet, your practice doesn’t suffer as a result.

Listen to the full episode, Overcoming client objections featuring Sarano Kelley, visit bmogam.com/betterconversations.

 

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