129. Dealing with Sales Rejection

 

Dealing with sales rejection can be tough, but it's an integral part of the sales process especially in financial advisory. Here are five pieces of advice along with real-life examples to help you handle rejection more effectively:

Develop Resilience: 

Understand that rejection is not personal. It's just a part of the job. Focus on building resilience to bounce back quickly after facing rejection. For example, a prospect you have been working on rejected you after making several presentations, instead of dwelling on the rejection, focus on analyzing what went wrong and how you can improve for your next prospect.

Learn from Rejection: 

Treat rejection as a learning opportunity. Ask for feedback from prospects who decline your offer. Understanding their reasons for rejection can provide valuable insights into potential areas for improvement. For instance, a prospect decides not to buy life insurance at this time, ask them for specific reasons why. Their feedback might reveal features or aspects of your proposal that need enhancement.

Maintain a Positive Attitude: 

Keep a positive mindset even in the face of rejection. A positive attitude not only helps you cope with rejection better but also makes you more resilient and appealing to potential customers. Consider the example of financial advisors who faces rejection from doctors when trying to pitch a new way to save for retirement. Despite the setback, maintaining a positive attitude helps them stay motivated to approach other healthcare professionals.

Focus on the Next Opportunity: 

Instead of dwelling on past rejections, shift your focus to the next potential sale. Set new goals and develop strategies to achieve them. For instance, if a client rejects your proposal, immediately start identifying and reaching out to other potential clients who might be interested in your services.

Build a Support Network: 

Surround yourself with colleagues, mentors, or friends who understand the challenges of sales and can provide support and encouragement during difficult times. Sharing experiences and strategies with others in similar situations can help you gain perspective and stay motivated. For example, participating in sales training workshops or networking events allows you to connect with peers who can offer valuable advice and support when dealing with rejection.

By following these strategies and incorporating them into your sales approach, you can turn rejection into an opportunity for growth and improvement, ultimately leading to greater success in your sales career.

All the best my friends!!

#acgadvice