Do I Push on Even After Getting 3 NOs?

[papercutter]

I am running into a lot of resistance over the phone and on the porch right now. In my past sales work I was trained to keep countering objections until you hear 3 NOs. Well I'm hearing 3 NOs a lot now. I even push and get the occasional 4th NO.

Is the 3 NO approach even a good idea in final expense sales? For instance:

Me: Mr Jones I just need 5 minutes of your time to let you know what this is all about.

Mr Jones: I can't afford to spend another dollar each month. I'm on a fixed income.

Me: I can certainly appreciate that, Mr Jones. In fact, the last 5 people I enrolled in these plans told me the very same thing the first time I spoke with them.

Mr Jones: No, I just don't have the money right now.

Me: Well Mr Jones, without knowing what the rates are, how can you be sure? I can tell you this much, they WILL cost more in the future.

Mr Jones: I'm barely getting by as it is. I just can't afford it.

Me: Thanks for speaking with me today Mr Jones, have a great day.

Can you really just keep arguing with these folks until they relent and let you inside? Somebody please tell me what I'm missing. Thanks.

 

[PA Bill]

It's good you are being persistent. Here is my take on where you're going wrong. "The last 5 people I enrolled....", "without knowing what the rates are....", (and here's the doozy), "I can tell you this much, they will cost more in the future."

He's scared about the money and all you're talking about is money, confirming his fears. Don't talk about the money!

 

[sirherbie]

You're beating a dead horse in the mouth. The one objection I walk away from is if they tell me they're dead broke and they don't want to take it out and drop it.Sure you could get even more aggressive and possibly sell it but you're probably looking at a lapse after 1-2 months. Sure you can show the need for it but the client must have the want and financial ability to pay for it.Understand life insurance is a 12 month commitment for the agent to get fully paid thus its easy for a client to spend that first premium and drop it. When you sell an air unit or kitchen appliance once they buy its a done deal pretty much.Thats why a big part of my presentation is affordability. Its also shows I care about the client and want the insurance to be there when its needed most.You're doing nothing wrong. Unfortunately you're running into a lot of broke people who are habitual in mailing final expense cards in.

 

[Baseball7]

Personally your gerring into to mcmuch at the door. Sell yourself in then sell your presentation.

 

[Newby]

I am running into a lot of resistance over the phone and on the porch right now. In my past sales work I was trained to keep countering objections until you hear 3 NOs. Well I'm hearing 3 NOs a lot now. I even push and get the occasional 4th NO. Is the 3 NO approach even a good idea in final expense sales? For instance: Me: Mr Jones I just need 5 minutes of your time to let you know what this is all about. Mr Jones: I can't afford to spend another dollar each month. I'm on a fixed income. Me: I can certainly appreciate that, Mr Jones. In fact, the last 5 people I enrolled in these plans told me the very same thing the first time I spoke with them. Mr Jones: No, I just don't have the money right now. Me: Well Mr Jones, without knowing what the rates are, how can you be sure? I can tell you this much, they WILL cost more in the future. Mr Jones: I'm barely getting by as it is. I just can't afford it. Me: Thanks for speaking with me today Mr Jones, have a great day. Can you really just keep arguing with these folks until they relent and let you inside? Somebody please tell me what I'm missing. Thanks.

What you need to be selling him is free. You need to be selling him on meeting with you. No price objection should be able to stop that sale because it's free and it can be very valuable.

You definitely need training on the basics.

 

[sirherbie]

Newby that sounds great on paper. My appt setter has made many appts with people who when I get there saying"I told the person I was unemployed but she insisted on the appt".I still believe the pt of leads is somebody has to have an open mind to listening to you and somewhat of an interest. If somebody is pounding you off the bat with being broke imho its a dead lead.I understand why J.D. likes people to already have insurance as they're already paying for it so all you have to do is show a better value.The objections a agent needs to work on are"I want to think about it or I want to shop around".But the off the bat objection "I have no money" is a bad start.

 

[jdeasy]

Newby that sounds great on paper. My appt setter has made many appts with people who when I get there saying"I told the person I was unemployed but she insisted on the appt".I still believe the pt of leads is somebody has to have an open mind to listening to you and somewhat of an interest. If somebody is pounding you off the bat with being broke imho its a dead lead.I understand why J.D. likes people to already have insurance as they're already paying for it so all you have to do is show a better value.The objections a agent needs to work on are"I want to think about it or I want to shop around".But the off the bat objection "I have no money" is a bad start.

The "5 reasons" people don't buy is something I have written down and refer to regularly to make sure whatever I do is addressing those 5 reasons.

One of the them is no trust and another is no money. Of the 5 reasons the hardest one to over come is no trust. The only one impossible to overcome is no money.

By that I mean truly no money. Not the smokescreen objection of no money. But first you have their trust to find out if it's a smokescreen or the real deal.

It all ties together and that's where training from people in the field comes into play.

It's obvious that the OP has been trained by a piker.

 

[John Galt]

The "5 reasons" people don't buy is something I have written down and refer to regularly to make sure whatever I do is addressing those 5 reasons.

One of the them is no trust and another is no money. Of the 5 reasons the hardest one to over come is no trust. The only one impossible to overcome is no money.

By that I mean truly no money. Not the smokescreen objection of no money. But first you have their trust to find out if it's a smokescreen or the real deal.

It all ties together and that's where training from people in the field comes into play.

It's obvious that the OP has been trained by a piker.

Or not trained at all......

 

[jdeasy]

Or not trained at all......

Well, since he said he was trained to get 3 no's and he's following through on that training I assumed he was, indeed, trained.

 

[Newby]

Newby that sounds great on paper. My appt setter has made many appts with people who when I get there saying"I told the person I was unemployed but she insisted on the appt".I still believe the pt of leads is somebody has to have an open mind to listening to you and somewhat of an interest. If somebody is pounding you off the bat with being broke imho its a dead lead.I understand why J.D. likes people to already have insurance as they're already paying for it so all you have to do is show a better value.The objections a agent needs to work on are"I want to think about it or I want to shop around".But the off the bat objection "I have no money" is a bad start.

How many of these people are already paying on something that you can improve upon?

A LOT of them. He don't know what he don't know. And you can't teach them on the porch.