Yesterday we covered the answer for the  “I can’t afford it.” objection.” My assertion that great salespeople show the prospect that their biggest objection is exactly the reason they need to purchase was met with a TON of controversy. Instead of defending my point of view, I am going to give you 3 more examples! Including today!!!

Remember that the following are the answers to the objections.  To be good at overcoming objections you must follow the entire formula of objection handling, not just spouting “answers.”

Assuming that you are following the objection handling formula, here are the “answers” to the objections that stump most new agents:

The Exact Reason They MUST Move Forward

Objection 2, My Employees Can’t Afford it.

Objection – You don’t understand my employees. There is no way they are going to want to have another dollar come out of their check. (My employees can’t afford it.)

What most insurance agents say – “They can’t afford not to have it.” or “You’d be surprised. I promise they’ll buy!” or “We’re only talking about $7.00 per week. Surely your employees can afford that, right?”

Why that’s the wrong thing to say – It is very combative and you are basically telling the business owner that you know his employees better than he does.

What you are going to say from now on –

• You –  “You’re absolutely right! I promise you that right now none of your employees want to have another penny taken from their check. (This takes all the pressure off.) In fact, let me ask you this, in all the 27 years you’ve been running this place, have you ever had someone knock on your door and say, ‘Hey Frank, me and the boys were talking out in the shop, and we decided we make too much money and have too many benefits. Any chance we could get a reduction in both?’”
• Them – (Chuckling) Of course not! In fact it’s just the opposite. There in here every other day asking for more money.”
• You – “Of course they are. In fact, it’s in their best interest to convince you they don’t make enough money, right?
  
• Them – “Yeah…”
• You – “Let me ask you this: How many of those people do you see carrying in Starbucks each morning? How many of them drive late model cars?
• Them – “Yeah….. A lot of them actually.”
• You – “Like I said, no one wants money just coming out of their check for no reason. The less people make, the closer they are living to the edge. For instance, we work with banks all the time. The branch managers who are making $75-$100 K a year aren’t usually that interested. But the tellers who are making just about minimum wage will stand in line to purchase our coverages. Why do you think that is?”
• Them – “The don’t have much is savings and if something bad were to happen, they’d really be in the weeds.” (If I say it, it’s subject to doubt. If they say it, it’s gospel truth.)
• You – “What we’ve found is that these programs are completely educationally driven. If we just run out into the shop and yell, ‘Hey, does anyone here want to buy more insurance?’ how many people do you think are interested?”
• Them – “Now very many.”
• You – “Of course not!” But when we do get the opportunity to educate employees in the widget manufacturing industry, give them packets of information to take home, show them how affordable it is, and then follow up two days later, we get 60%-80% of the employees to enroll in at least one program, without fail!” Besides Frank, I’m not asking you if your employees are interested in having a payroll deduction. All I’m asking is: ‘IF your employees are interested, would you be willing to help them, help themselves by making it available through a payroll deduction?
• Them – “I don’t see any reason why not. I just think knowing my employees the way I do, you are in for a disappointment.”
• You – “That may be. But at least you will know that if anything bad happens, and your employee comes to ask you what you can do to help them out, you can look them in the eye and tell them honestly that you gave them an opportunity to protect their family. Oh by the way, if you are like most businesses I work with there is never going to be a perfect time to implement something like this. (We can’t wait for them to have a perfect time to roll this out or it will never happen.) But again, if you are like most businesses I work with, there is a day of the week or week of the month that would be horrible to try to implement this kind of thing.”
• Them –  “Monday’s and the last week of the month.”
• You – “Well then, why don’t we do this…..

Upcoming installments in this series:

Friday –  What to say to the employee who says, “I forgot to talk to my spouse about it. When do I have to make my decision by?”
Saturday – (Bonus Blog) I will give you a stunning answer to the employer objection, “We’re not interested!!!!” By the way, this technique is not for weenies!!! You have to have serious cojones to pull it off. You have those, right?

Conclusion: Don’t argue with the employer. You can win the battle, but still lose the war!

Question: Give us some examples of ways you have been able to tell a business owner they are wrong without upsetting them?