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Discover what every agent ought to know about insurance marketing and sales…
In this issue of 'Insurance Marketing and Sales Mastery' - April 2004
* How To Succeed In Insurance Sales By Taking Baby Steps...
* Success Tip
* Important Prospecting Update...
* Sales Tips
* Hot New Sales Opportunities
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How To Succeed In Insurance Sales By Taking Baby Steps...
As Jay Abraham, Dan Kennedy and all the great marketing Gurus will tell you there are 3 ways and only 3 ways to grow your business…
See More Prospects…
Convert More Prospects To Clients…
Sell More To Your Clients…
You can focus on improving just one of these ways to grow your business and your business will grow linearly. It's like simple interest. For example: If you 'See 50% More Prospects' (Giant Step), hopefully you will have a 50% increase in sales.
However, if you 'See 15% More Prospects' and 'Convert 15% More Prospects To Clients' and you 'Sell 15% More To Your Clients' (Baby Steps), you are going to grow your business exponentially… It's like compound interest. You are going to grow your business by 1.15% x 1.15% x 1.15%, which is over a 52% increase in sales.
Consider, is it easier to 'See 50% More Prospects' (Giant Step), or is it easier to improve all 3 of the ways to grow your business, by only 15% (Baby Steps)?
For example, if you are already seeing 10 prospects per week and working 40 or more hours per week, is it likely that you will have the time to 'Prospect For and See 50% More Prospects', which is 5 more prospects per week. Or, how likely is it that you can take a giant step and start converting 50% more of your prospects to clients, or sell each client 50% more products?
Isn't it going to be much easier to make little improvements (Baby Steps) in each area?
Let's take a look at what typically happens…
When we came into this business, we were told that we needed to see 10 to 15 new prospects each week and we were expected to convert 1 out of every 3 prospects to clients. We needed to make 3 -5 sales per week.
In order to see 10-15 prospects per week we needed to spend 15 to 20 hours per week prospecting and an additional 20 to 30 hours per week seeing these prospects. That didn't count the time we spent at meetings, completing applications, following up on cases, case preparation, etc…
The expectations were unrealistic… There just wasn't enough time to do it all, let alone the additional time needed to get the training we needed in order to get better at what we do. Is it any wonder that 90% of the agents don't make it past 5 years in this business, or why the average agent is making less than $38,000 annually?
There has to be a better way...
Let's assume for a moment that you could learn to 'Convert More Prospects To Clients'. Instead of closing 1 out of every 3 prospects, you now are able to close 1 out of every 2 prospects. How many prospects would you now have to see to make your 3 - 5 sales per week? Wouldn't you now need to see only 6 to 10 prospects per week? That would reduce your time prospecting and seeing prospects by almost 35%. You'd have saved almost 15 hours per week, which makes succeeding in this business almost possible.
But, let's go one more Baby Step…
Now let's 'Sell More To Your Clients'. Let's assume that the 3 - 5 sales, you're required to close each week, generate an average commission of $400 per sale, or $1,200 to $2,000 of income per week. That's an annual income of $60,000 to $100,000…
Now what would happen if you increased the average sale to $500? Aren't you now earning $1,500 to $2,500 per week, or an annual income of $75,000 to $125,000. That's a 25% increase in income...
Think about it, to 'See More Prospects...' means you have to make a long-term commitment to spending more money for leads, or a long-term commitment to spending more time prospecting. You'll never need to see fewer prospects, until you learn to 'Convert More Prospects To Clients…' or learn to 'Sell More To Your Clients…'
In a very short time, with a few minor changes and a minor financial commitment you can dramatically grow your business... If you learn to 'Convert More Prospects To Clients…' and learn to 'Sell More To Your Clients…'
So how do you 'Convert More Prospects To Clients'?
Learn The Secret To Setting Appointments With People Who Actually Want What You Are Offering. Stop wasting your time with lookers & shoppers!
Learn How 'Top Producers' Create Instant Credibility & Trust. People don't care how much you know, until they know how much you care…
Learn How To Uncover Your Prospects' Innermost Desires, and use that knowledge to craft an offer that is irresistible to them.
And, how do you 'Sell More To Your Clients…'
Learn How To Help Prospects To Sell Themselves. They'll buy more when they believe it's their idea.
Learn The Secret To Cross Selling. One additional sale in a household can make a big difference in your income.
Learn About The Magical Effect Of Annual Reviews. Most people will buy more as they get to know and trust you…
Remember there are 3 ways to grow your business and only 3 ways... If you truly want to grow your business, the fastest and easiest way, you must use all 3!
Lew Nason, RFC
Marketing Coach
Creator & Founder of
www.insuranceproshop.com
© 2005 by Lew Nason, RFC, All rights reserved
Lew Nason has been helping agents to achieve long-term success in insurance sales for over two decades. His unique perspective, on how to truly help clients, has enabled scores of agents reach the top levels of their profession. Visit his web site at www.insuranceproshop.com or call him toll free @ 877-297-4608.
You'll get the information you need to become a better marketer and close more sales by becoming a member of the Insurance Marketing & Sales Resource Center…
"All of us do not have equal talent, but all of us have an
equal opportunity to develop our talents."
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Success Tip
What Product or Service Is Being Bought?
This sounds easy. I sell widgets - people are buying widgets. Not always so!
If you sell locks it is my contention people do not buy physical locks. They buy what locks give them. Peace of mind. Their family can sleep at night. Safety. Security.
When you sell an automobile people have many choices. They could truly need basic transportation. Or, maybe it is safety for their family. Or if it is a big car, they may need it to haul the entire soccer team about. Or, is it status they're buying?
If you sell music, people may buy for the joy of the music.
A book or magazine or newsletter gives education or relaxation or knowledge.
Know what people really buy when they buy from you.
All the tools and information you need to create endless streams of new, repeat, and referral business, are in the Insurance Marketing & Sales Resource Center...
"Everyone has peak performance potential - you just need to know where they are coming from and meet them there."
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Important Prospecting Update…
If I could show you…
Whether you are on the phone or talking to prospects face to face, would you like to be able to close more people for the initial sales appointment? Then make it practically impossible for them to say no…
Here's a simple, very effective closing script that can be modified for almost any situation…
"If I could show you how to -----------------------------------------, without sacrificing your current lifestyle, would it be worth 20 minutes of your time to talk about it?"
Examples:
"If I could show you how to… have $20,000 more income per year at retirement…, without sacrificing your current lifestyle, would it be worth 20 minutes of your time to talk about it?"
"If I could show you how to… pay off your mortgage 5 to 10 years early…, without spending an additional penny out of your pocket, would it be worth 20 minutes of your time to talk about it?"
"Acting on a good idea is better than just having a good idea."
Robert Half
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Sales Tips
Expand On The Benefits
When pointing out the benefits of your solution (recommendation) to a prospect, enhance the benefits dramatically by expanding on them.
Instead of just saying, "You'll have an additional $100,000 at age 65."
Say this: "If you had an additional $100,000 at age 65, what would this mean to you?"
- "Could you pay off your mortgage early?"
- "Could you provide your children or grandchildren with the money they will need for college?"
- "Would your retirement be more enjoyable for you? Could travel, play golf, visit your grandchildren more often, etc., etc,."
Get the idea?
"It's not the answer, it's the quality of the question."
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Hot New Sales Opportunities
A Couple Of Quick Questions For You…
How's your business going this year? Are you off to a great start, or are you in the same old rut as last year?
What are you going to do about it?
If you keep doing the same things, then aren't you going to get the same (or less) results?
Remember, the definition of insanity is doing the same thing over and over and expecting a different result.
Would you agree, that nothing is going to improve your situation until you decide to take action?
So, the Million Dollar question is, when are you going to take action. When are you going to take control of your future?
Here are some of the incredible results your associates have experienced… by investing in their future… and taking control of their business…
You could be experiencing similar results in the next few weeks…
"I am having my best month ever with seminars, appointments, and closes. I am sure that a lot of it has to do with the coaching sessions and becoming more aware of my own actions during the seminar presentation and the opening appointments. I have sold more life insurance in one month than I use to sell in one year and the annuity sales have been unbelievable. Not only a higher percentage of closes but much larger sales."
Rick W., ND, April 3, 2004
(Resource Center Member & owner of the Annuity Sales Excellence System)
"I have combed through your website and read almost every page and want to say thank you! The information has helped big time, my production is up 65% over last year already." Rich H., Winnipeg MB, March 3, 2004
(Resource Center Member & owner of the Dynamite Referred Lead System)
"I bought the Annuity Quick Start plan with the hope of getting a system that will keep me in front of the money. The first day after reading some of Lew's ideas on presenting and closing sales, I closed 3 out of 3 appointments. I ended up closing 5 out of 7 appointments for $350,000 for the week (all were one call closes). I have to give Lew credit, I made some slight changes in my overall approach that produced immediate results. I now feel confident that Lew can help me when I begin to set up my marketing game plan. Nobody will ever be any more skeptical than I was, when I ordered this program. The very first appointment after implementing these techniques, I paid for the plan almost 20 times over just off of that first sale." John H., LA, November 24, 2003
(Resource Center Member & owner of the Annuity Sales Excellence System)
"Thank you. Since starting with you 3 weeks ago I'm already seeing a big difference. This week I closed 4 life insurance sales for $9,000 in commissions. It's my best week ever." Tony F., IL, October 9, 2003
(Resource Center Member & owner of the Mortgage Insurance Tool Kit
& the Dynamite Referred Lead System)
Many Thanks to Rick, Rich, John and Tony for their kind words!
To find out more about us, our products and our services please visit…
http://www.insuranceproshop.com/
The Insurance Pro Shop is ranked as the #1, Most Popular and Most Trustworthy...
Insurance Marketing and Sales Support Web Site On The Internet!
By Ranking.com
Member of the 'Better Business Bureau' Florida, South East Chapter…
Member of I-Cop, Protecting the Consumer
Member of the 'Better Internet Bureau'
"Wisdom is knowing what to do next, skill is knowing how to do it,
and virtue is doing it." David Star Jordan
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Well, that's it for this month's insurance marketing and sales tips newsletter. I hope you found the information interesting and helpful in your efforts to grow your business.
Yours In Success,
Lew Nason, RFC
Marketing Coach
Creator & Founder of www.insuranceproshop.com
P.S. Listen: Over the years, you're going to spend... thousands of dollars in time, money and effort promoting your insurance business. Why not learn to do it the most effective, money making way? Why not learn the techniques that some of the best agents on the planet use? It just makes good sense.
Stop wasting your time and money playing marketing and sales guessing games! Invest a few tax-deductible dollars today in the success of your business. Click on the following link and start running your insurance business with the confidence of an Insurance Marketing Mastermind. www.insuranceproshop.com/productcatalog.html
P.P.S. Do you have a friend or associate who needs help? Why not tell them about our web site. They'll thank you!
© 2005 by Lew Nason, RFC, All rights reserved
Lew Nason has been helping agents to achieve long-term success in insurance sales for over two decades. His unique perspective, on how to truly help clients, has enabled scores of agents reach the top levels of their profession. Visit his web site at www.insuranceproshop.com or call him toll free @ 877-297-4608.
Helping Insurance Agents create endless streams
of new, repeat, and referral business…
www.insuranceproshop.com
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