12 Common Objections #1: “I Can't Afford It”
You may present your client the most perfect sales pitch ever, and the customer could still raise an objection or two at the end of the discussion.
Some agents believe that marks the end of the conversation -- if the client objects, they're not going to buy. But that's not often the case. Generally, an objection is simply a request for help or more information. Over the next 12 posts, we're going to look at the objections agents tend to hear the most and how you can effectively respond to them.
We'll start with maybe the biggest of the bunch: “I can't afford it.”
Sometimes, the customer totally means this. He/she came in expecting one price and got something so far outside what was expected that they've been gobsmacked.
But that's not usually the case. Most of the time, a customer doesn't think he or she is getting his or her money's worth with the policy. And why is that? It's because you haven't demonstrated the policy's value to the customer. You may think you have, but you may have not hit the customer's sweet spot.
So ask: What would make it so you could afford this policy at the same rate? Or what would you be willing to remove from the policy so the rate goes down? Talk it out. Figure out a way together, to make it affordable. Nothing's carved in stone.