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As we've discussed before, analogies are great for making the unfamiliar familiar. In today's action plan, we use an analogy to relieve any anxiety and doubt a client may feel about getting started with you. I call that doubt 'separation anxiety.' We've all had it. Just as you are ready to hand over your credit card for that major purchase, you ask yourself just how badly do you need whatever it is you are buying. You'll have the new item, but you'll never see your money again. Clients new to investing experience a similar feeling. Your challenge is to explain in a way they'll understand that they are not parting with their money. They are simply rearranging their finances. Please read the action plan. I think you'll enjoy the analogy.
Once again, a simple analogy will serve you well.
"Mr. and Mrs. New Client, I know you are concerned about losing control of your money as you take this big step toward securing your future. Did you ever rearrange your living room? Of course you have. When you rearranged your living room, did you throw away any furniture? Of course you didn't. Well, investing your money is like rearranging your living room. After we make these investments, you will still have all your money and you will still be in control of it. We are simply rearranging your money."
1) What are the analogies you like to use for overcoming various objections?
2) Write down your favorite analogies and practice them over and over and over until they become routine in your discussions with prospective and current clients.
I think you'll find that images from good analogies provide more comfort than mere words.
Successfully Overcoming Objections is a Stepping Stone in the Relationship Building Process
Running time: 2:04
An objection is your friend because it allows you to know what the other person is thinking and fearing. If you succeed in allaying the person's fears, you are one step closer to gaining trust.