How to Prevent the "I Want to Think About It" Objection for Insurance Agents

There are many times where we have had a successful presentation, and we’re in the middle of closing the sale when the clients say, “I want to think about it.” You immediately scramble to find one statement to change the course of this meeting. Perhaps, convincing your clients the product you are presenting is the solution they have been looking for.

Many experienced agents will say if your clients need to think about it, you didn’t do a good job presenting. Of course, that’s not always the case. During your meeting, it’s imperative to take time listening to your prospects, understanding their needs and ask essential questions to uncover a solution.

Your presentation should be nothing more than showing them what they wanted after a thorough fact find. Fact finders are one of the most commonly used tools in sales meetings to show your prospects, rather than tell them; you are a problem solver.

You can review their financials, their medical needs, and compare and contrast their current (if applicable) plan with what you’re currently offering. It’s recommended that you ask closed-ended questions, then ask open-ended questions. Closed-ended questions get the facts and details, while open-ended questions provide you a direct insight into what they really want and invite them to talk.

Listen. Take notes.

If they have to think about it, there’s either something still uncovered, something was not explained well enough, or they missed it. Review the fact-finding, present it to your clients and continue to investigate the problems your prospects may face (e.g., budget, coverage gaps, future security.)

An important fact to remember on customer behavior is, when people say they have some additional questions, it means they are still interested. Explain the policy again or ask more questions to clarify what they want. You haven’t lost the battle yet! Bring your product brochures, testimonials, or additional materials to show your prospects why what you are presenting is the solution to all of their concerns.

Keep the conversation going.

Some agents suggest that objections can quickly be eliminated by agreements. By asking clients if you can meet their conditions and satisfaction at a price they can afford; what would you do? This seems to give your clients an immediate opportunity to sign the application and write a deposit check for the first month’s premium.

That sounds easy. However, based on experience, it’s reality that not all prospects will immediately sign the application. A lot of times you will hear, “I still want to think about it.”

What do you do in that case? Continue to listen to your prospects, and if you feel as though you aren’t getting anywhere with the sale—leave your card and tell them you will check back in a few days to see if they have any additional questions or are ready to make a decision about their future.

Too many agents spend their time with prospects who are “just looking.” When agents do close a sale, it usually takes two or three appointments. Until you become a highly skilled agent with loads of referrals, becoming a highly qualified prospector is of utmost importance. Then you can meet with high probability prospects who are most likely to buy.

How do you become a better prospector?

Keep in mind your ideal prospect. Whom is your product geared towards? Where do they work? What are their hobbies? Being able to answer these few questions can guide you in the direction of who and where to market. Receiving leads from your marketing will provide higher quality prospects.

This will not ensure you are closing your prospects, but it will increase the probability of a more significant close. Understanding the ideal prospects comes from experience and an honest look at your current clients. Who are they? How did you find them? What did you sell them?

You may also consider going back to your current clients and doing a small survey, by phone or through email communication, asking the following questions:

How would you rate the quality of services I provide?

What do you like best about the services I provide?

Why did you choose to do business with me?

What do you feel I could do to improve my services?

Would you recommend my services to your friends and family?

If so, please provide their contact information.

Give your clients a small gift card for a dinner or trip to the theatre in exchange for this vital information, including new referrals. Testing and understanding your business and how efficient you are is a key component to continuing to improve your marketing efforts. Understanding your strengths and weaknesses also enhance your ability to retain customers.

As you continue to grow and develop new strategies, presentations, and understandings of your business, you will most likely find yourself in a position where you rarely hear the “I want to think about it” objection.

For more information regarding sales and marketing tips and tricks, please contact Agent Pipeline at 800-962-4692 or visit us online at www.agentpipeline.com

Agent Pipeline is a national FMO specializing in Medicare, Life, Group & ACA Health products. We know your values, meet your standards, and exceed your expectations.