By Certified Coach Alissa Gauger, MBA
Historically, Northwestern Mutual has been called “the quiet company” from a marketing standpoint. While the company does do sports sponsorships, cause marketing and other advertising, it is a minimal spend compared with its competitors. How, then, is the company thriving? Word-of-mouth.
So, what does this mean for you--the Financial Representatives of Northwestern Mutual? Prospecting is absolutely vital to your practice and there is a long legacy of its effectiveness. That is why you need to face your hang-ups and anxiety about prospecting and your struggle to do it consistently. This topic will be discussed extensively in future blogs, but let me give you something to consider.
You have thoughts and beliefs about prospecting that are not serving you
Here are the top 10 common objections to Prospecting:
1) "I have not proven myself yet.”
2) “I need to build the relationship more first.”
3) “I ran out of time.”
4) “I don’t want to offend my client and lose them.”
5) “They could reject me and I will feel like a failure."
6) “The client intimidates me.”
7) “Prospecting makes me feel like a greasy sales person.”
8) “People like friends and family have judged me in the past for asking for referrals and I don’t want to go through that again.”
9) “It makes people feel uncomfortable and puts pressure on them.”
10) “I forgot.”
If you relate to any of these objections, it is completely normal. You have formed thoughts and beliefs about prospecting and then collected evidence from your experiences. But it is your mind’s job to think thoughts. Just because you have a thought it doesn’t make it true. Ironically, humans tend to believe their own thoughts just because we have them. Let me give you an example. It is possible, that these thoughts are also, if not MORE true than the ones above?
1) "I have already proven myself.”
2) “I do not need to build the relationship more first.”
3) “I can make time.”
4) “I want to help my client and retain them.”
5) “They could accept me and I will feel like a success."
6) “I let the client intimidate me.”
7) “Prospecting makes me feel like a helpful advisor.”
8) “People like friends and family have helped in the past by providing referrals and I want to go through that again.”
9) “It makes people feel comfortable and does not put pressure on them.”
10) “I remembered.”
The next time you are not prospecting, see if you can notice the thoughts you’re having about it. Isolate the most painful thought. Turn it to the opposite. Now find three reasons that the new thought is MORE true.
I have not proven myself yet.
Turn it around to the opposite:
I have already proven myself.
Three reasons the turnaround is MORE true:
1) I met with the person and provided them value in the first meeting.
2) I need to choose when I have “proven myself”…I will choose the point when I know that I have and commit to it (e.g. during the Fact Finder meeting at the end).
3) The person agreed to meet with me, gave me their time and attention and told me I provided value when asked during the Fact Finder.
Next week…more on prospecting!