Five Keys to Selling Insurance Products

Selling insurance is not easy. It’s a highly competitive business filled with a confusing array of products. Consumers don’t like to think about insurance, and they usually believe the price is too high. Many people believe that they don’t need it, or they’re simply willing to put off purchasing a policy until they have more time and/or money. Additionally, buying a policy can be confusing for the uninitiated consumer.

You’ve rustled up five insurance leads from a topnotch online service. Ready to sell each and every one of them. At least, you think you’re ready. Here are some tips to help you prepare to go 5 for 5.

1) Be Organized

Prior to calling anyone, you must be organized. Being organized refers to both the product you’re selling and the method by which you sell it. First, you must know your product inside out and be able to talk about it easily. If a potential client has a question about term life insurance and his or her choices regarding length and amount of coverage, you need to be able to give them an accurate answer. When calling leads, be sure you have everything you need with you. It’s preferable to call with your computer in front of you, enabling you to easily access any information you might require. You won’t lose a sale if you’re asked a question and you say, “Let me just double-check my computer,” but you may lose it if you say, “I don’t have that information right now, I’ll have to get back to you on that.”

You must also be prepared in the manner in which you go about pursuing your leads. It will take numerous phone calls before you connect with a lead. You’ll need a system for tracking calls, taking notes after you speak with the lead and for determining the next action to be taken regarding that lead. It’s very important that you take time to keep careful notes regarding a lead. Missing a follow-up call, forgetting to send requested materials or losing information essential to that lead will all have the same result&ndashno sale.

2) Be Educated

Being educated means that you understand the marketplace, your products as well as your potential and existing clients. How do you know if you’re properly educated? Ask yourself this simple question&ndashwhat makes my service and product more valuable than any of the other services and products that crowd the insurance market? What is the value of what you are trying to sell and what separates it from all of the rest? Is it your commitment to service? Are you a full service agency, offering a broad range of products? Do your products carry great value&ndashare they priced competitively but does the consumer get more for their money than from any other company? Perhaps you provide additional services free of charge&ndasha monthly newsletter, portfolio planning or a yearly insurance review?

To define what gives your service and product value, you’ll need to know what your competitors offer, understand what consumers want and determine the significant attributes of your products.

3) Be Quick

When you receive a fresh lead, you must act quickly. If someone has requested information, there’s a small window of opportunity for you to make contact. Working against you is the fact that people are busy and it will usually take 5 calls or more for you to connect with a lead. If you have the opportunity to leave a message, do so each time you’re given the chance. Hanging up on someone’s voicemail is equivalent to never having made the call at all.

4) Be Polite and Professional

When contacting someone via the phone always remember that you are, in essence, in his or her home or territory. In other words, you’re talking to someone because they are willing to listen to you. Always be polite and professional, even if the lead’s behavior is not reciprocal. Ask if you’ve called at a good time and, if not, if there is a better time to call. Don’t try to keep someone on the telephone if they’ve said they’re busy. Always offer to contact the lead at another time or to send them information via e-mail or the post office. Try to keep the contact alive, and if they say they are not interested, ask if you might call them again in three months to see if they may be interested in your product. Even if you sell that lead nothing, you may still realize a sale due to your phone decorum. That lead that does not work out may know someone who’s looking for insurance and your professional behavior may have impressed him or her enough to mention your company. One thing is for certain, if you’re rude or non-professional, that person will definitely talk about your company to friends and family, and those conversations won’t help you one bit.

5) Be Willing to Go the Extra Mile

Consumers constantly complain about bad service. Remember, you’re working to earn the business of that lead and once you’ve done that; you’re working to keep their business and possibly expand upon it. If you develop a reputation for good service and for going beyond the norm when it comes to service, your enterprise will be held in high regard and good word-of-mouth will provide you with more clients.

Leads do not sell themselves. Yes, there will be those rare times when you get that easy sale, but more often than not it will take persistence, effort, and knowledge for you to convert an insurance lead into a client. In order to succeed, you’ll need to be at the top of your game day-in and day-out. Can you go 5 for 5 in converting those new leads? If you do, you’ll be batting 1.000.

Having to deal with angry and upset customers is by far one of the worst responsibilities we must face on a day to day basis in the world of sales and business.

However, this responsibility, like so many others we must face on a daily basis, just comes with the territory.

Customers become angry for all sorts of reasons. Some are legitimate reasons. Some are not. In any event it is our job to defuse the situation. Here are a few tips on how you can calm your customer down and put them at ease.

1. Give them your hand to shake

When I was in the banking industry, I worked many years as a branch manager. A customer’s body language would speak volumes as they approached my office. This body language allowed me to prepare for what was to come.

It is not difficult to tell when someone is angry. Their face scrunches. Their lips tighten, and their brow wrinkles. They walk quickly with a purpose in their step, and you know they mean business.

My reaction to this type of body language was to reach out my hand to them as an offering of peace. I did this before they had an opportunity to start venting their anger. I would then calmly introduce myself and ask how I could be of help to them.

This technique will catch your customer off guard, and your acts of professionalism and sincerity will ease the tension and put the rationale back into your customers thought process.

This technique is by far the best way to begin any conversation that has the potential to be blown out of proportion.

2. Apologize to your customer

Once you have your customer seated and have allowed for them to vent, the first thing you want to do is apologize on behalf of your company for the way they have made them feel, or for the inconvenience they have been put through.

It really doesn’t matter if your customer is right or wrong, by apologizing to your customer you are being empathetic to their situation. This gives the customer the feeling that you are on their side.

Remember, when a customer has an issue, what they want more than anything else is for someone to listen to their problem and have an understanding of where they are coming from.

There is absolutely no need to take a bad situation and make it worse.

3. Resolve the problem

The last and final thing you want to assure your customer is that the problem will be resolved, or at the very least, the problem will not happen again.

To leave a problem unresolved and your customer hanging will only lead to more confrontations and wasted time down the line.

Remember, when time is wasted, money is wasted.

Again, putting out fires on a daily basis comes with the territory. The sooner you put out the fires the better.

Never take a customer complaint personally. Act as your customers advocate, and you will always prevent a bad situation from escalating.

This article may be reproduced by anyone at any time, as long as the authors name and reference links are kept in tact and active.

The last thing we want to hear during our work day is complaints from customers. However, it does come with the territory. Here are a few tips on how to turn your customer’s complaint into a positive.

1. Listen

When a customer comes to you with a complaint about one of your products or services, listen to them. Listen to what they are telling you, and take notes if at all possible.

The number one thing a customer wants when they have a problem is for someone to listen to them.

Allow them to vent, let them get it all out. Once they have explained their problem in full, begin to ask any questions you may have to get a full handle on the situation.

While you are listening, body language is very important. Make sure you maintain eye contact. This sends your customer a message that you are taking them seriously.

2. Be Empathetic

When the customer is done explaining their problem, show sincerity by telling them that you understand how they feel. Apologize on behalf of the company that they feel the way they do, and tell them that you are committed to resolving their issue within the guidelines of your company.

By becoming defensive in this situation, you are taking a bad situation and making it worse.

By having an understanding of where your customer is coming from on the situation, and speaking in a calm tone of voice, you can clearly defuse the situation.

You don’t by any means want your customer to become angry and cause a scene.

3. Offer a Solution.

We have all heard the expression “the customer is always right.”

I don’t necessarily agree with this, but it is important to work toward finding a solution, even if the customer is in the wrong. For instance, you might try meeting them half way.

You will know wether or not your customer is a repeat offender, and you can handle the situation accordingly.

For customers who have a legitimate complaint, it is best to rectify the situation right then and there. Wether it is giving them their money back, or replacing their product.

Always leave your customer with your business card and tell them if they should ever have a problem again, they should not hesitate to contact you immediately. This will help them regain their confidence in you and your company.

The main goal when a customer has a complaint is to not allow the problem to snowball. Your objective should be to defuse the situation and retain your customer.

By handling tough situations such as these in a professional manner, you will find your once complaining customers satisfied that you resolved their issue, and a new found respect for you.

This article may be reproduced by anyone at any time, as long as the authors name and reference links are kept in tact and active.

In the first article we looked at how many first time (and experienced!) sales people can be held back from achieving success because of the fears they may have on getting out there and selling.

In the previous article I highlighted 6 main selling-related fears: failure; image or self belief; rejection; lack of product knowledge; criticism; presentation. Each of theses fears on their own can cause a breakdown in the sales process and prevent you from confidently tackling another prospect.

In this article I will look at how you can address these fears head-on; what you can do to face your fears and banish them for life!

Fear of Failure

Undoubtedly the biggest fear most people in selling, and business have is the fear of failure. There is nothing more demoralising than a continual lack of success! Fear of failure has been ingrained from school &ndash remember all those tests when the results were read out for all the class to hear? If you had a poor result, you never felt like trying again! But, don’t be like Homer Simpson when he tried to consol his son Bart who had failed in his bid to be class president,

“You tried and you failed. The lesson is … never try.”

So, what can you do to conquer your fear of failure? The bottom line is that you need a rock solid positive attitude. You must have an inner voice which is continually pushing you onto the next prospect and saying, “Come on, let’s find the one who’s going to say yes!”

Failure has to be seen as a learning opportunity. In every failure, there is a nugget of information, which next time, can point you in the direction of better success. James Dyson, the inventor of the revolutionary vacuum cleaner, summed up the need for a positive attitude, when he said, “Success is made up of 99% failure. You galvanise yourself and you keep going as a full optimist.”

Image Fear

Not everyone has boundless self-confidence. When you start out in business, there is sometimes a nagging doubt that you may have bitten off more than you can chew. This inner doubt chips away at your self confidence and soon you have a poor self image, which reflects in your sales pitch. To be a successful salesperson you have to have a strong self image.

To improve the image you have of yourself, follow these steps:

Write down the qualities which you believe a successful salesperson should possess. Try and limit the list to 4 or 5 key qualities

Find a quiet spot and relax your body and mind with deep and steady breathing

Once you are totally relaxed recite the strong, self image qualities you identified earlier

Imagine or visualise yourself possessing each of these qualities. See in your minds eye how you look, now that you have these qualities. See how successful you are, how you look, and the car you are driving, where you are living

Repeat to yourself that you are assuming each of these qualities and becoming a better person with each day that passes

Repeat this exercise first thing in the morning and last thing at night and you’ll soon find your self image and confidence levels increasing!

Fear of Rejection

Closely linked with the fear of failure is the fear of rejection. Hearing the response “No” is not a great motivator! The main way to deal with rejection is just to accept that it happens. Try and re-frame any rejection you get by saying to yourself that it’s the customer who loses out, not you. Walk away with a smug smile on your face and remind yourself that you are one step closer to someone who will say “Yes”.

Product Knowledge Fear

A lack of in depth knowledge about your product or service quickly finds its way to making for a poor presentation. There is only one solution … and that’s to get learning! Absorb yourself in the product. Understand all the features and benefits, so that you can confidently talk about all aspects of your offering. Banishing this fear is one of the easy ones to put right.

Criticism

No one likes to be criticised, especially if you have tried your hardest. Unless you are very thick-skinned, harsh criticism can knock you back. If you carry out the exercises on improving your self-image, your ability to take criticism will also improve. Decide to view criticism more as feedback than a direct attack on you. There is usually some element of truth in the majority of critical comments and it’s important that you take the opportunity to learn and change.

Presentation Fears

You may know all the features and benefits of your product but, like an actor, you suffer from stage fright! The presentation fear can be down to a lack of structure around your sales process. Write a basic outline on how you wish a perfect sales pitch to go. Prepare a script for the key parts of the presentation and rehearse, rehearse, rehearse!

Why not ask someone to help you role play a sales presentation? This will give you the opportunity to make all the mistakes you want but in a risk-free environment! You should also visit your local Business Link office and see what courses they are running on sales skills. Look out for books and tapes on effective selling. All of these actions will assist in improving your confidence and result in a more professional sales presentation.

Selling does not have to be a fearful experience! If you have the right attitude, a strong self belief, a full understanding of your product and plenty of practice, then you will have nothing to fear. So, take a look at each of these fears and put a plan in place to tackle them today!

In the first article we looked at how many first time (and experienced!) sales people can be held back from achieving success because of the fears they may have on getting out there and selling.

In the previous article I highlighted 6 main selling-related fears: failure; image or self belief; rejection; lack of product knowledge; criticism; presentation. Each of theses fears on their own can cause a breakdown in the sales process and prevent you from confidently tackling another prospect.

In this article I will look at how you can address these fears head-on; what you can do to face your fears and banish them for life!

Fear of Failure

Undoubtedly the biggest fear most people in selling, and business have is the fear of failure. There is nothing more demoralising than a continual lack of success! Fear of failure has been ingrained from school &ndash remember all those tests when the results were read out for all the class to hear? If you had a poor result, you never felt like trying again! But, don’t be like Homer Simpson when he tried to consol his son Bart who had failed in his bid to be class president,

“You tried and you failed. The lesson is … never try.”

So, what can you do to conquer your fear of failure? The bottom line is that you need a rock solid positive attitude. You must have an inner voice which is continually pushing you onto the next prospect and saying, “Come on, let’s find the one who’s going to say yes!”

Failure has to be seen as a learning opportunity. In every failure, there is a nugget of information, which next time, can point you in the direction of better success. James Dyson, the inventor of the revolutionary vacuum cleaner, summed up the need for a positive attitude, when he said, “Success is made up of 99% failure. You galvanise yourself and you keep going as a full optimist.”

Image Fear

Not everyone has boundless self-confidence. When you start out in business, there is sometimes a nagging doubt that you may have bitten off more than you can chew. This inner doubt chips away at your self confidence and soon you have a poor self image, which reflects in your sales pitch. To be a successful salesperson you have to have a strong self image.

To improve the image you have of yourself, follow these steps:

Write down the qualities which you believe a successful salesperson should possess. Try and limit the list to 4 or 5 key qualities

Find a quiet spot and relax your body and mind with deep and steady breathing

Once you are totally relaxed recite the strong, self image qualities you identified earlier

Imagine or visualise yourself possessing each of these qualities. See in your minds eye how you look, now that you have these qualities. See how successful you are, how you look, and the car you are driving, where you are living

Repeat to yourself that you are assuming each of these qualities and becoming a better person with each day that passes

Repeat this exercise first thing in the morning and last thing at night and you’ll soon find your self image and confidence levels increasing!

Fear of Rejection

Closely linked with the fear of failure is the fear of rejection. Hearing the response “No” is not a great motivator! The main way to deal with rejection is just to accept that it happens. Try and re-frame any rejection you get by saying to yourself that it’s the customer who loses out, not you. Walk away with a smug smile on your face and remind yourself that you are one step closer to someone who will say “Yes”.

Product Knowledge Fear

A lack of in depth knowledge about your product or service quickly finds its way to making for a poor presentation. There is only one solution … and that’s to get learning! Absorb yourself in the product. Understand all the features and benefits, so that you can confidently talk about all aspects of your offering. Banishing this fear is one of the easy ones to put right.

Criticism

No one likes to be criticised, especially if you have tried your hardest. Unless you are very thick-skinned, harsh criticism can knock you back. If you carry out the exercises on improving your self-image, your ability to take criticism will also improve. Decide to view criticism more as feedback than a direct attack on you. There is usually some element of truth in the majority of critical comments and it’s important that you take the opportunity to learn and change.

Presentation Fears

You may know all the features and benefits of your product but, like an actor, you suffer from stage fright! The presentation fear can be down to a lack of structure around your sales process. Write a basic outline on how you wish a perfect sales pitch to go. Prepare a script for the key parts of the presentation and rehearse, rehearse, rehearse!

Why not ask someone to help you role play a sales presentation? This will give you the opportunity to make all the mistakes you want but in a risk-free environment! You should also visit your local Business Link office and see what courses they are running on sales skills. Look out for books and tapes on effective selling. All of these actions will assist in improving your confidence and result in a more professional sales presentation.

Selling does not have to be a fearful experience! If you have the right attitude, a strong self belief, a full understanding of your product and plenty of practice, then you will have nothing to fear. So, take a look at each of these fears and put a plan in place to tackle them today!