Facing Rejection in Your Business? Do these 2 Simple Steps to Potentially Close that Case!

In this financial advisory space, it’s very common to face “rejections.”

Clients tend to delay things.

Even after you have discussed a lot about financial planning or estate planning….if the client thinks it is not important for him/her right now, then you would most likely fail to push it through.

You’ll hear the words “you know what, I have to think about it”

Then they’ll probably ‘ghost’ you afterwards, right??

And many will say “No don’t worry it’s just normal because not all clients are [insert reason]”

But let me burst your bubble here.

You don’t have to just blindly accept these rejections and move on to the next prospect so quickly.

Because you can still turn the table around—maybe not right away, but it is still very possible.

How?

Just follow these 2 steps:

1?? Reflect + Understand

First thing you need to do is to understand your prospect’s rationale.

Why did he/she not want to push through?

What are the factors affecting this decision?

Is it the timing? The budget? Their needs?

Most of these things you can already figure out from your initial consultation.

But if it’s possible to actually ask the client about his/her reason for not pushing through, then that would be very helpful.

The important thing is to reflect on what happened and understand the reason for the rejection.

This will help you better relate to this prospect in the future, and better value add your new and existing clients.

2?? Follow up + Nurture?

Ever noticed how online shopping platforms or coaches offering courses keep sending you follow-up messages via email?

That’s because that’s the whole process of making a sale.

You can’t expect people to buy after just one encounter….not unless you’re a big brand like Apple or Mcdonald’s.

There is a certain process or framework that businesses often follow and it more or less goes like this:

Create intrigue ?? Capture their attention ?? Trigger an emotion ?? Emphasize the need / Highlight a painpoint ?? Create scarcity ?? Make a sale

The idea is this: There are people who you can easily convince to buy your product because they have already convinced themselves that they need it beforehand….and there are those who you still need to persuade a little more.

So to put it in the context of financial advisory,

You need to do 2 things:

? Have a systematic follow-up process.

? And continuously nurture your prospects before following up with them.

The first one is pretty much straightforward.

You cannot really pester your prospects right??

So you just have to create a proper flow to follow.

You can schedule follow-ups however you like—after 6 months? 3 months? Whatever you feel makes sense.

Because the prospects who did not push through before may be in a different frame of mind or life situation by that time.

Now the second one (Nurture) is something you need to do so you stay on top of your prospects’ minds.

If you have their email address or even their contact details, you can send them news articles or any type of info that you feel will be helpful for them.

Do this without any expectations of closing a case.

Just provide value along the way so that when you follow up with them after a couple of months, it wouldn’t look too abrupt or random.

Remember: The “value first” mindset is what will keep you thriving in this industry.

It is also what will make you stay.

Because most of the time, advisers who only think of bringing in more commissions/income end up not being fully satisfied in their career—which makes them give up and switch to other jobs.

Shifting your focus to bringing value to your clients will make this whole journey more worthwhile.

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So the next time you feel down or unmotivated because of rejections, take note of these 2 steps. They will be very valuable to your sales process.

And if these prospects still wouldn’t want to push through even after your follow-up process, remember that:

1) You still have a lot of people you can add value to, and…

2) There is still so much more value you can bring to your existing clients. You can upskill and learn how to help them in other areas of their lives (e.g. learn Estate Planning so you can help them with wealth distribution)

Anw that’s all I have for you today.

Hope you learned a thing or two from this post! Go and add massive value to your clients!

#financialadvisors?

#estateplanning

#clients

#sales