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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' - June 2004
* How To Succeed In Insurance Sales By Taking Baby Steps... Part 3 * Success Tip * Important Prospecting Update... * Sales Tips * Hot New Sales Opportunities ________________________________________________________________________
How To Succeed In Insurance Sales By Taking Baby Steps… Part 3
In the previous two Marketing Tips Newsletters, we've discussed the only 3 ways to grow your business…
See More Prospects… Convert More Prospects To Clients… Sell More To Your Clients…
The majority of the agents I talk to spend most of their time finding and seeing new prospects. Some agents are making an effort to enhance their sales skills, so they can convert more prospects to clients. Unfortunately, very few agents are taking the time to learn how to 'Sell More To Their Existing Clients'…
So, 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…
Have you ever called a friend, neighbor or client and have them tell you; "I just bought a $100,000 annuity" or "I just bought a $1,000,000 life policy" from the agency down the street? "I didn't know you …" Why are these people going to your competitor? Is it because they don't know you're in the business, …or if you're still in the business? Is it because they never hear from you?
Start by communicating every month with your clients (and making sure that your staff does the same thing). Find out what your clients need/want most - and then make sure you satisfy that need. If you don't stay in from of your clients and genuinely fill the needs you purport to fill, your clients will soon abandon you.
Learn How To Help Prospects To Sell Themselves. Keep in touch with them regularly. Help them! Guide them! Provide real value to them. Earn their respect and trust. Treat them as you would treat your friends. Send them a monthly newsletter and other useful tips, articles and resources to help them reach their goals quicker. Soon they will be calling and you asking for your help …and asking to buy from you!
Learn The Secret To Cross Selling. If you can help new clients to buy another product or service from you, you will double the value of the client and your profit. Example: If you are selling health insurance, why not ask them about their life insurance or disability insurance?
It's all about transitioning after you've made the initial sale. "Oh! By the way, if you don't mind me asking, do you have a disability policy that would make your mortgage payments if you were to be disabled tomorrow? How do you feel about that?"
Learn About The Magical Effect Of Annual Reviews. Repeat Sales are vital to every business. Let's assume for a moment that you own a restaurant. Would it be better to cater to repeat customers, to keep them coming back or would you want to spend all your time and money looking for new customers? How long would your restaurant survive, if your current customers stopped coming back? Isn't it the same for a clothing store, gas station, furniture store, attorney, doctor, or accountant?
Well, the insurance business isn't any different!!!
Annual Reviews are the most overlooked and yet the most profitable of all prospecting activities. Annual Reviews with your existing clients, will cement relationships, retain business, create repeat sales and generate high quality referred leads. While I was in sales, annual reviews accounted for 40% to 50% of my new sales income every year, and that isn't counting the sales income I got from referral leads.
If you aren't scheduling regular annual reviews, you are missing a great sales opportunity. Situations do change. People change jobs, lose benefits, have children, inherit money. And their priorities do change...
The best part is, that if you conduct annual reviews regularly, these people will be clients for life.
Starting today, establish an automatic system of seeing you're 'A' and 'B' clients at least once a year.
Re-cap There you have it, the three ways to build a deliciously successful insurance sales business, by using baby steps.
It's up to you! 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.
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
P.S. If you missed the first two parts of 'How To Succeed In Insurance Sales By Taking Baby Steps...' Please visit our newsletter archive: http://www.insuranceproshop.com/sampprivate/clientnewslettersl.html
P.P.S. If you want to learn how to attract your ideal prospects, learn how to help your prospects to identify their problems, and then offer them real solutions to their problems - it's all in the Insurance Marketing and Sales Resource Center...
© 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.
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…
"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 If there is a group many agents do not talk to enough, it's their current customers.
Many agents tell me their clients know all about them. They tell me they don't want to go after their current clients for more business. They just sit and wait for their clients to ask for more. Well, these thoughts open the door to you losing your clients. Why? Because your clients only know what they know ... they do not know what they don't know. And it is a "fact", your clients do not know as much about you as you do.
So, plan on building your reputation by repeating your message... to your clients, too.
Why do you think we spend so much time creating and sending out our monthly Marketing and Sales Tips Newsletter?
If you need a highly effective, inexpensive client newsletter that you can mail or email please visit: http://www.insuranceproshop.com/Newsletters.html
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…
Make Your Prospects An Offer They Can't Refuse
Your offer is a prime reason many of your prospects will become your clients.
An offer allows those "undecided" to consider you. It gives them a reason (vs. excuse) to say:
"Okay, let's look at what these guys can do for us." An offer also gives those who do know you a solid reason to stick with you. And not fly to the competition.
Offers are over and above your collection of benefits. Frequently it is NOT the reason someone buys. It IS the reason they STOP ... pause ... think ... and consider you. It is an "extra". It is over and above your benefit package.
Offers can be almost anything: More for less, Less for less or an "extra" when you make a commitment. They can be tied to a visit or other action by the prospect.
An offer is mandatory in direct marketing ... if you are to enjoy maximum success.
Always make an offer.
"Acting on a good idea is better than just having a good idea." Robert Half
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Sales Tips
It is easy to decide what you want to sell BEFORE you talk to the client. Because you know where you want to go - where you feel you need to be.
It is fine to think this way ... as long as you "kill" the thought, push it to the back, bury it, as you begin your sales call. When you go into any sales situation with your plan, your direction, your focus up front, you are not listening for options available from the other person.
Have an open mind. There are many routes to get from where you are to where you need to be. You may prefer some routes over others... fine. Still, the bottom line is getting to the finish line with a "sale"...
In every sporting event there are countless ways to score. Whether it's a low scoring game like hockey or soccer, or high scoring like basketball or football - there is more than one way to "win". BINGO: same in sales. There is more than one way to get to the finish line.
Have an open mind as you begin each sales call.
"It's not the answer, it's the quality of the question."
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Hot New Sales Opportunities
Since introducing our programs only 3 years ago, we've helped over 1,500 agents reach sales levels that they never thought possible. Many New Agents, and Agents who were earning under $50,000 annually are now earning $70,000 to $100,000 each year. Agents who were earning $50,000 to $100,000 annually are now earning $25,000 or more each month. And, they are working fewer hours and having a lot more fun.
What's the secret to their success?
No, it's not some magical new product! And, it's not some clever new lead generation program! Each of these agents has learned to identify and improve critical areas (or skills) that provided an immediate, dramatic increase in their sales. And, they did it one area at a time.
In most cases it was as simple as getting extremely focused on a niche market or learning how identify and attract their ideal prospects. Other times, it was simply learning how to lead prospects with questions, overcoming objections or helping prospects to find the money.
The bottom line is, by making some minor changes, most agents are able to double or triple their income in a matter of only a few weeks to a few months.
We've created several step-by-step programs to help you grow your sales. These programs are more than just providing you with the tools. They also provide you with the little secrets you need to make those tools really work for you. For example: many agents send out mortgage letters to everyone who has a mortgage. Unfortunately, they fail to realize that there are some prospects that are better than others. Not everyone wants, needs or can afford mortgage insurance.
Generally, the only people who want or need mortgage insurance are people with families to protect. If they just bought a home, in many cases they can't afford life insurance right now. Or, life insurance takes a backseat to buying curtains and other necessities for their new home. 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.
To find out more about us, our products and our services please visit…
http://www.insuranceproshop.com/productcatalog.html
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
We are Members of the 'Better Business Bureau' Florida, South East Chapter… I-Cop Protecting the Consumer & 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. Stop wasting your time, and your 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 or better yet, forward this page to them. 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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