Whether getting in the door, gathering underwriting information or presenting final proposals, objections can stop sales efforts cold. How would you respond to a prospect who says, “I'm happy with my agent,” or asks, “Why do you need that information?” What do you tell yourself after a buyer says, “Your price is too high,” or “Who are you?”

Perhaps your prospect researched you or your agency. Something he heard made him uncomfortable and now the buyer objects to your competence. What you do next will either blow life back into the sale or cause the opportunity to expire. To effectively handle any objection, let Objection CPR–confirm, probe, resolve–be your first thought.

Many insurance sales professionals fear, or worse–hate–handling objections. What you tell yourself at the moment you field an objection is critical. Is it something negative: “This is the part of the job I really hate,” or “Oh no! How am I going to answer this?” Do objections make you feel uneasy? Does it show? Is your body language revealing defensiveness? Are you about to “wing it” and hope for the best because you failed to prepare for easily anticipated objections? Could failure to overcome an objection kill the deal?

You could take a more positive approach. Do you tell yourself to listen, gather more information and be certain to understand what the buyer is saying before trying to overcome the objection? Do you confirm your understanding before offering a solution? Do you probe with purpose for the best possible solutions to resolve legitimate issues? When you confirm understanding, probe with purpose and then resolve, you create a professional path to follow when handling objections.

If you sell insurance, you have to deal with objections; it's part of the job. Anticipate objections and get good at handling them. When a buyer questions your competence, requests information or price, know this: you have his attention. Overcoming an objection may well trigger agreement and close a sale. You have a chance to prove your value. What more can an insurance professional want?

Your attitude determines your success when dealing with sales objections. Monitor what you tell yourself. Prepare for typical objections. Then, let Objection CPR be your plan to handle objections.

Confirm understanding

When you hear an objection, resist the urge to immediately resolve it. What's the rush? Instead, verify you're on the right track before you offer any solutions.

Buyers want to be understood. In your own words, tell the prospect how you understand his issue or concern. When you confirm understanding, you save time, build rapport and earn trust.

For example, you approach a targeted prospect and offer to compete to earn their business. Your prospect hesitates and says, “I have a large open claim right now. It may not be in my best interest to shop insurance this year.” How would you handle this objection?

Would you launch into lecture and explain how unfair of the insurance company to hold your renewal hostage just because a large claim is being settled? Instead, assure your buyer that the insurance company must continue to work fairly and responsively on your behalf, even if you move your insurance protection plan elsewhere at renewal. And you may miss the point of the prospect's objection.

What if the prospect says, “I have a large open claim right now. It may not be in my best interest to shop insurance this year,” which actually means the current insurance company and agent are doing a fantastic job settling that claim? Your failure to confirm understanding may end up costing you any future opportunities to work with this prospect.

Instead, take a moment and confirm what you believe the buyer's objection means. If you're right, you're on the right track. If your prospect says, “No, that's not what I meant,” you've just saved time by halting misunderstanding in its tracks. When you confirm an objection before trying to resolve it, you build rapport and understanding, and save time as well.

Probe with purpose

With more information you can better handle objections. You learn little when you dominate discussions with recommendations and solutions. Instead, ask questions for clarification or to gather additional information after you confirm understanding. Get direction with “yes” or “no” questions. Obtain depth with “what,” “how” and “why” questions. The objective when you probe with purpose is to discover conditions and specifics to be met in order to overcome objections. You ask questions; then your prospect tells you what's wanted.

Perhaps a prospective buyer balks at your request for underwriting information by saying, “Other agents aren't asking for my financial statement.” You could simply respond, “Sorry, it's required. I can't perform a competitive proposal without it.” In the end, your prospect may agree to turn the financial statement over to you, but they'll be unhappy about it, putting a strain on the rapport you've worked hard to build.

Instead, probe with the purpose of understanding the prospect's hesitation and viewpoint. Don't assume you know what the buyer is thinking. Ask what the specific issue or concern is. Is it that the buyer doesn't know you well enough to give you proprietary financial reports? Are there conditions whereby the prospect would be willing to provide the information? Specifically, how would the prospect want to be protected with regard to your handling of the financial statements?

Probe with purpose to gain deeper understanding of your buyer's concerns. When you confirm you're on the right track, prospects often lead themselves to options with which they would agree. If conditions must be met to overcome an objection, professional probing is the quickest way to determine details.

Resolve

The best way to resolve any objection is to have your prospect offer the solution. When you confirm understanding and probe with purpose, you lead the buyer to results that the buyer wants. Then decide if you can provide that solution. Use “if/then” resolution language. Be careful not to offer more than you, your agency team or insurance company can deliver. Remember, the time to resolve an objection is after you've confirmed understanding and probed for conditions and specifics.

To resolve an objection doesn't always mean you overcome the objection. Resolution occurs when you handle an objection to a logical conclusion. You either gain agreement or encounter a condition you can't resolve. That's it. You've done your job. By confirming and probing instead of lecturing solutions, you've given yourself the best opportunity to handle the objection successfully.

The proper attitude, preparation and a professional plan yield the best results when handling objections. You're responsible for your attitude.

Remind yourself that objections indicate buyer attention, interest, and often an opportunity to close a sale. Control what you tell yourself. Anticipate typical sales objections when trying to set appointments, gather underwriting information and present proposals. Preparation includes knowing and, equally important, believing the value, solutions, and advantages you provide clients.

When you get an objection, let your first thought be Objection CPR. Confirm understanding. You'll build rapport and trust. Probe with purpose. You'll identify specifics and conditions to be met. Resolve by gaining agreement. Pose solutions as “if/then” propositions. Objection CPR provides a professional path to build trust and handle issues that could kill an insurance negotiation. The result? Measurable increases in sales.

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