Chargebacks mean you didn’t listen. Are you having the right conversations?
In our industry, chargebacks happen. Most often, chargebacks happen because you did not properly listen to your clients and what they were REALLY telling you.
Buyer’s remorse seems to be the biggest culprit when it comes to getting those nasty-grams from the carriers that you’ve just received a chargeback. It stinks when it happens. But have you ever stopped to ask yourself WHY it happens?
Chargebacks are a monetary indication that you may not be listening as well as you thought.
When a client gives an objection to a product recommendation…
- Do you bulldoze over it and try pushing them to make a quick decision?
- Do you gloss over the “WHY” behind the reason you’re having the discussion about a product, and simply go for the sale?
- Have you sweet-talked your way to closing a deal by making your clients feel inferior if they don’t make this “obvious” decision to buy the product you’re selling?
Then they get home. And that’s when the buyer’s remorse kicks in. A week later you get the notice that your client decided that they made a mistake and no longer want this product. Then the conservation process begins. Ugh!
Wouldn’t it be easier to have the right conversations to begin with? I suggest you start with WHY.
Consider including these talking points in your conversations:
- What happens if we don’t solve this problem?
- If we stay with the status quo, what’s the likelihood you’ll achieve your goal?
- When I make a product recommendation, what are the top three things you want to see solved with that product?
- How will you FEEL once we know this issue has been fixed?
- What is your biggest fear when it comes to making a decision about the product I recommend?
Really listen to the answers they give you because it will tell you a lot about how they FEEL about their ability to make the right decision. By having a sincere discussion about these issues, we’re also arming them with their own words about how they should feel after the sale is complete.
Give it a try, and let us know how it turns out!
Financial Professionals: Schedule a 30-minute consultation with Chris Kowalik of ProFeds to see if this proven, step-by-step system is right for you.
Ready to get started? The ProFeds Bootcamp is where all of the magic begins! This training program is limited to the first 10 financial professionals who qualify, so reserve your seat today! CLICK HERE for details about our next available class.
About the Author: Chris Kowalik, founder of ProFeds, is the industry’s leading business coach for financial professionals who specialize in working with federal employees. She is a frequent speaker for financial services firms and federal agencies throughout the country.