Sales rejection is probably the worst part of an insurance agent’s job. But few realize its importance and the role it plays in developing strong and fearless characters. It is these rejections that build confidence as you learn from them and rise again.
There is no way for anyone to escape rejection, of any form, in life and in business. So your best bet is to learn to deal with them. Merely developing a thick skin is not enough. One needs to master acceptance and subsequently turn the rejections into invaluable lessons. So how do successful agents do it? Here’s how.
4 ways successful agents deal with sales rejection
1. They don’t put a negative connotation to ‘rejection’
There could only be three possible outcomes when you pitch a sale to a new prospect: Yes, no, maybe.
A no can mean a few things, but it does not necessarily mean you are being rejected. If we are objective about them, instead of attaching our emotions to them, we would not feel the dejection and disappointment when a prospect says no.
The core responsibility of an insurance agent is to add value to the lives of their customers by empowering them to make informed decisions about their financial goals and futures. The decision should be theirs and theirs alone. A “no” to you should not mean your failure. Once you remove the negative connotation to the “no” you no longer take them personally.
2. They understand that rejection is part of the job
Many enthusiastic young agents come into this business with high hopes to make it big. Some are promised the lives they have been dreaming of as long as they put their mind, heart and hard work into it. But sadly not all of them were told to expect rejections let alone how to deal with them.
While some agents take rejection as the sign of their failure and weakness, successful agents have realized at an early stage that rejection is part of the job. In fact, successful agents expect them, knowing that rejections are what make them strong and fearless.
In business and in life, what makes a person successful is his ability to turn what is usually perceived as negative into a positive.
3. They know no does not necessarily mean never
There could be many reasons why a prospect is saying no. Maybe they need time to think, or they really have not allocated the money for it. Maybe they need to get their spouse’s approval but are too embarrassed to say so.
Whatever it may be, a no should not mean the door is shut forever. Learn to read between the lines when a prospect says no. Ascertain the reason before you leave the meeting. Be sure to let the prospect know that you will continue to look for the best products for him and will be sharing the information from time to time.
This ensures that you are not letting the door shut behind you as you leave and the prospect does not feel surprised when he gets a call from you one day.
4. They turn rejections into lessons
Instead of blaming themselves for failing to close a deal, or worse, resenting the prospect for saying no, they take the time to reflect. Although you can not escape the occasional rejection, receiving too many too often may be an indication that something you’re doing may be wrong.
This is especially true of young agents who are new to the industry. Take time to analyse your entire sales process. From prospecting to conducting sales pitches. Could you be targeting the wrong market or do you still sound jittery during a sales pitch?
Best way to find out is to ask your prospect. An outright question asking for the reason he said no may not get you the answer you want. So come prepared with a set of questions focusing on how you did during the presentation instead.
Ask the prospect if you managed to explain clearly and if he felt comfortable with you throughout the presentation. Ask also how you could have made the presentation better for him. This serves two purposes.
One: It helps you identify the areas you need to work on to improve yourself.
Two: It helps prospect to be more open with you as he realizes your sincerity in serving him. This in turn creates trust. Because a no does not necessarily mean never, this means your next meeting with this prospect will be easier.
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