We’ve covered how to be the best you in part 1 and how to prepare yourself to sell in part 2. Here we will turn you into an insurance sales machine.
DON’T CONCENTRATE ON FEATURES
All products have features. Here’s the big secret, your prospect doesn’t care about them. You, as a financial professional are an expert on the subject of insurance. Don’t bog down your prospect with unnecessary information that they will forget in five minutes. Concentrate on the benefits. Identify your prospect’s need and satisfy them.
DON’T USE JARGON
Jargon is defined as special words or expressions that are used by a particular profession or group and are difficult for others to understand.
When you use terminology that is designed to only be used amongst industry insiders, you will turn your prospect away faster than a direct insult. Nothing good comes from using jargon. It confuses the uninitiated and makes them feel stupid.
This tip goes hand-in-hand with the Use Professional Language tip from part one.
DON’T SELL ON PRICE
You are not selling a disposable item. I cannot stress this enough. YOUR PROSPECT DOES NOT CARE ABOUT THE PRICE!
People give price a major consideration when they are buying everyday items. Groceries and gas are expenses that are felt every time someone goes shopping. Major purchases like cars, houses and insurance are different.
What about a comparison quote? Saving money is not enough to convince your prospect to switch. What does your product offer that the current plan does not? How will you help your prospect where their old agent failed? People will pay more for coverage that fits them better.
LIVE YOUR PROFESSION
Every office has that one agent that goes golfing three days a week, drives the ridiculously overpriced car and wears the fancy Italian suits. Then there’s the rest.
What is the difference? Wouldn’t it be great if there was a magic formula? Well, there is.
Selling insurance is very hard work. The hyper successful agents didn’t get there overnight. They sold and sold and then sold some more. They sold in the office, they sold on appointments, they sold on the road and they even sold while filling their gas tanks.
Look at the hardest working agent in your office and one up her!
FOLLOW THE MARKETS
Really? You are a financial professional. Follow the stock market.
Do you need to be and expert? YES! You are asking your prospect to make a major financial investment in the future. You had better sound like you know what you’re talking about. More importantly, you want to know what your prospect is saying when they spew financial jargon at you.
You know what this means. “Keep it simple stupid.” I have harped on you to be an expert. Now you need to hold that knowledge back until it is needed. Give your prospect just enough information to make a decision and ask for the sale. You will either get a yes or a reason why you haven’t earned the sale yet.
Concentrate only on your prospect’s objection and then ask for the sale again.
Go back to the last step until you get the yes.
DON’T FORGET TO ASK FOR THE SALE
You open your sales presentation. Your prospect laughs at your early joke. You find common ground and make personal contact. Your prospect qualifies and you identify needs. You share a feature and associate a benefit. Then another feature and benefit. And another…
Am I sounding like a broken record yet? Good, this is that important! Always remember that nobody will ask you to shut up and let them buy a policy. You have to ask them to buy the insurance. Follow this path and it will not let you down.
FEATURE->BENEFIT->ASK FOR THE SALE
Repeat as needed.
Did you miss part 2? Here it is!