In this sales training video, we discuss how to structure your insurance sales pitch so that you can resolve and get around sales objections. You are guaranteed to face objections when talking with prospects, and the more prepared you are for those, the better your sales results will be.
Three Sales Objection Handling Options
There are three options for how to handle sales objections in your insurance sales pitch.
Comply with the Objection
One obvious way to handle a sales objection is to comply with it. This is to basically accept it and move on by usually ending the conversation and pursuit of the prospect.
It is important to comply with objections at different moments when talking with sales prospects. What you don’t want to do is comply with the first objection that a prospect gives, as this would be an approach where you might be giving in too easily to the prospect’s resistance.
A good rule to apply to how you handle sales objections with your insurance sales pitch is to try to resolve or get around the objection two to three times before going in the direction of complying. If you go beyond that point without complying, you could damage the level of rapport with the prospect, and when you begin to do that, you greatly reduce the probability that the prospect will purchase from you.
Overcome the Sales Objection
Another direction that you can go with how you respond to sales objections with your insurance sales pitch is to try to overcome the objection. This is an attempt to defuse or resolve the objection that the prospect has.
If you think about it in simplest terms, to overcome an objection is to change someone’s mind. This is not an easy thing to do, so there are certain times when you don’t want to go in this direction.
For example, if you are cold calling and you hear objections like “I am not interested” or “We are not making any changes right now,” to try to change the prospect’s mind in these scenarios would be to make them interested or make them want to make a change.
That is fairly difficult to do on a cold call because you have both a limited amount of time and limited attention. But if you are in a meeting with a prospect or deeper into the sales process, if a prospect has a sales objection, you can then try to address and overcome the objection in order to keep moving forward.
Redirect the Sales Objection
The third way to handle sales objections is to redirect the objection. This is an approach that focuses on trying to keep the conversation going and get somewhat away from the objection.
For example, if a prospect responds with an objection like “we already work with someone today,” you can redirect that objection with your insurance sales pitch by asking who they are working with, how long they have been working with them, what do they like about working with them, is there anything they would like improved, etc.