Top insurance agent sales solutions to help you rescue the sale
You’ve talked with the prospect numerous times. You nailed the presentation. You followed up with multiple helpful emails. Taking their temperature, you’re certain they’re about to sign on the dotted line, when…crickets. Or they begin to throw roadblocks at you. It’s time to pull out some high-powered insurance agent sales solutions to help you rescue the sale.
Here are a few tips and tricks from sales experts:
1. Reword your proposal’s value. If they were eating out of your hand at the proposal, when you showed them how much money they’d save, then you know you’re on the right track. However, as Hubspot sales coaches say, the more you talk about saving money, the more desensitized they become. They’ve heard it – several times. So it’s time to switch gears. Restate your value in terms of lowering their risk, being able to provide them with risk management tools and how that will make their job easier, etc.
2. Show them how easy and streamlined the process will be. Perhaps they’re dreading switching brokers, thinking it’ll take way too much time. Remind them that you and your team of CSRs and risk management specialists will make it easier. Provide anecdotes from similar clients as to how easy your onboarding process is.
Related: Insurance Agent Sales How-tos for successfully closing the deal
3. Use social proof. Taking that thought of client anecdotes further, it often helps to give a skittish prospect examples of how you’ve helped similar clients and companies. Called the herd mentality, it explains why people are influenced by their peers to adopt certain behaviors (in this case, to sign on the dotted line!). It helps to provide them with written testimonials, perhaps even including the contact information of a client or two (just get their permission first, of course). Forward a thank-you email from a happy client. Show them a positive third-party online review. Point them to your positive Facebook reviews.
Insurance agent sales solutions when technical difficulties stall your presentation
It happens to every sales person at one time or another: Their Prezi fails. Their iPad battery dies. The bulb goes out on their LCD projector. The internet connection dies. And they’re left to wing it.
What do you do?
First, it’s best never to start a lengthy presentation without a back-up: a print out of your most crucial or detailed slides. A flash drive or dongle with your presentation.
If it still happens, here’s what to do:
- Take a deep breath to calm your racing heart.
- Acknowledge the problem with a little humor and a quick apology.
- Don’t keep apologizing – it undermines your authority and appears unprofessional; instead remain upbeat and focus attention on your troubleshooting efforts.
- Fix it quickly if you know what the solution is, but don’t waste too much time or you’ll lose your audience. Just continue on with your hard copies.
- If you’re hosting an online meeting, make a quick judgement call: Can you continue without visuals? Can you quickly email the remaining slides to the group and continue on? Or do you need to reschedule? If so, be sure to send the new meeting notice within an hour or two at most.
Insurance agent sales solutions when the prospect says the price is too high
Just as you’ve become an insurance sales maven, your prospective clients have become buying mavens. During negotiations, they know if they push back, they may get a lower price. They may not understand that our rates are set by state insurance boards, with little wiggle room. They’re simply looking to sweeten the deal they’re about to make with you. This blogpost on overcoming pricing objections offers 30 responses, although several don’t apply to our industry.
Aja Frost, the blogpost author, says follow these steps:
- Wait for the prospect to finish speaking.
- Pause for 3-5 seconds.
- Ask a question to clarify their position.
- Pose a follow-up question to further explore their concern.
- Summarize their objection in 2-3 sentences.
- Clarify if you missed anything.
- Diffuse their concern.
Responses she suggests range from “Too expensive compared to what?” and “How much will it cost you to do nothing?” to “Let’s explore some creative strategies for fitting this into your budget.”
My favorite is number 12 on her list is “Okay. So which part don’t you want?” Applying that response to our industry, it would be “Which risks do you not want to insure, then, because you can handle the expense out of your budget?”
Related: Romance your selling process with these insurance sales tips
Whether your sales conversation stalls because of price, technology breakdown or a host of other issues, these insurance agent sales solutions can help you overcome and seal the deal.