Insurance Agents - Are You Making The Most Expensive Mistake of Your Career?

Are You Making The Most Expensive Mistake of Your Career?

Why is it that most insurance agents, financial advisors, and financial planners will spend huge amounts of their time, and thousands of their hard-earned dollars on learning about a hot new sales idea or a hot new product, buying and learning the latest software, or earning the latest industry designation? But, when it comes to learning and mastering the two extremely critical success functions of their business, that will make their career a whole lot easier, more fun and extremely profitable, they can’t seem to find the time or the money?

If having the latest sales ideas, products, software and designations were the actual keys to success in this industry, then why are 90% of the people who enter the industry failing and leaving the industry within the first four or five years? Why are the majority of the surviving people earning less than $50,000 per year?

Do you want to do more than just survive in this industry?

Do you want to be earning a significant six-figure income and be enjoying your career?

Then isn’t it time for you to learn and master the two critical keys to success in this industry?

What’s the first critical function for success in the financial services industry?

What I hear most from people is that they are struggling to find qualified prospects. Is that one of your main problems? How much easier and more profitable would your business be if you had a consistent flow of the ‘RIGHT’ qualified prospects? Well you can, if you’ll spend more of your time and money learning how to identify and consistently attract the right prospects to you. The people you have the best chance of selling. And, that’s about learning all you can about Marketing Your Services!

What’s the second critical function for success in the financial services industry? 

What I hear second most from people, is they are having trouble getting their prospects to take action. Whether it’s setting an appointment or closing the sale, most people are only getting a small portion of their prospects to take action right now. Be honest with yourself, are you having the same problem? You can be setting many more appointments and be closing many more (and larger) sales, if you’ll spend the time and money to Improve Your Questioning, Fact-finding & Selling Skills.

Summary

Let face it, you can have the all the latest sales ideas, the most innovative products, the latest software and a list of designations after your name, but if you aren’t able to attract the RIGHT prospects to you and then get them to take action, you’ll continue to struggle in this business.

The unfortunate part is that your companies, marketing organizations, managers, and recruiters are providing very little if any intensive training on these two very critical success functions. And, why should they spend their time and money training you? Aren’t there plenty of people for them to choose from, who want a career in the financial services industry?

If you want to succeed short-term and long-term in this industry, then it’s up to you to get the marketing and sales skills training you need and want… right now!

The question is where do you find the marketing and sales skills training you need?

Unfortunately, there are very few people in our industry who are actually offering this in-depth marketing and sales skills training.

There are lots people offering great sales ideas and product information, like LEAP, Missed Fortune, Infinite Banking, Circle of Wealth, The Wealth Preservation Institute, Annuity Selling Systems, Pension Concepts, College Funding Solutions and others. The problem is that they are primarily just offering sales concepts with very little if any real marketing or sales skills training.

Then there are all of the marketing companies that will tell you they have a great foolproof lead system that will put you in front of a ton of people, like the Broich Approach, Million Dollar Leads, Bank On Yourself and others that are either just recruiters in disguise, or are selling expensive ongoing services that empty your wallets.

Finally, there are the FMOs, IMOs, and other recruiting organizations that will promise you the world, just to get you to contract with their companies.

There are very few people that are actually providing comprehensive marketing and sales skills training, specifically for this industry.

And, there are fewer yet that have the proven industry credentials and experience, with industry leader endorsements and testimonials from successful agents, advisors, and planners.

Marketing and sales skills training is not sexy or exciting. It’s just what makes your business easier, more rewarding, more fun and extremely profitable!

Take the next step and download our free report now! How To Close ‘9 Out Of 10’™ Sales By Asking The ‘Right’ Questions! and learn a skill to make this business really fun and easy!

Jeremy Nason, RFC is the co-founder of the Insurance Pro Shop™ -“The first affordable, full-service insurance marketing and sales resource center for today’s Financial Pro, and Found Money Management™a system dedicated to helping Middle-Income Families to ‘Live Debt Free and Truly Wealthy!’ For more articles visit his blog!

How To Find Your Ideal Life Insurance Clients!

Every week we get a call from a successful financial advisor who is earning a gross income of $100,000 or more per year. They are calling us because, while they are making a good living, they are tired of traveling all over the county and state selling their annuity and life insurance products. They are tired of working 60 hours or more each week chasing their leads all over creation.

Are you in the same situation as these advisors? How many more people could you see, (or how much more free time would you have) if most, if not all your clients were in your local community?

How much of your hard-earned money are you spending on life insurance leads, preset appointments, direct mail campaigns, dinner seminars, etc. trying to get leads? How much more effective would these lead methods be, if the people you were contacting immediately recognized your name as the financial expert in their area?

How much of your precious time are you spending on the phone following up on those leads, trying to set an appointment? How many more appointments could you set with those prospects, if those people already knew about you and the valuable services you provide? Read More

Priceless Life/Sales Advice From My DAD!

When I first entered sales, I asked my father for some sales advice and what the best selling technique was to be successful.

He replied, “The two most important parts of the sales process are your ability to:

  1. Ask The Right Questions!
  2. Shut-up and Listen To The Client!”

Asking the right questions is the number one sales technique that you can use and it makes all the difference in the world. Your ability to provide your clients with the right solution to their problems is the key to your sales success. And to find the right solution, you need to ask the right questions. When you ask the right questions, your client will tell you exactly what you need to do to make the sale.

Unfortunately, when I talk to a struggling agent or advisor, I find they are making the mistake of telling their clients about the features and benefits of their products before they understand what the client is looking for. Your clients buy for their own reasons, and you won’t learn what those reasons are, unless you first ask questions and listen to them.

A successful sales call should be about 30% asking questions and talking, and roughly 70% listening. Remember, you have two ears and one mouth. That means you listen twice as much as you speak.

Why is it important to learn how to structure your sales questions:

You use questions to gain or maintain control during the sales call. If you use questions properly, you can lead your clients to where you want them to go. The proper use of questions also helps you to isolate areas of interest. Ask the right sales questions to help you find the right solution.

By asking questions, you will find out what the prospect is interested in. If you know what they are interested in or need. You can then provide the solution they are looking for and better position them to buy.

You use questions in sales to help acknowledge a fact. When you state a fact in the form of a question, and the response is positive, you have an agreement.

Use sales questions to receive minor agreements. Selling is the sum total of a series of yeses, that lead to the final decision to own or use your service. A minor agreement will also define the area(s) in which they have the most interest. Not everyone buys your products or services for the same reasons. By asking questions, you will find out why they will want what you have to offer.

Use sales questions to arouse and control emotions. Emotions are the thinking that you must arouse in the prospect. If they can’t get excited about what you have to offer, they will not buy. They have to feel that they must own the product.

Use sales questions to isolate objections. You must isolate their objections to understand the real stumbling blocks to the sale. A skilled salesperson knows the prospect will have objections to buying their product or service. But, they also know that most objections are just a reaction and not real. You need to find the objections that are important to the buying decision and focus on what is most important to the prospect. To do that, you have to use questions.

You don’t answer objections by telling. You answer objections by asking questions. The key to handling objections is best done when you ask the right questions that allow the prospect to positively answer their own objection.

The truly amazing part is that if you want to take his sales advice, learning to ask the right questions is one of the easiest skills you can learn and master, to immediately increase your sales and income.

Take the next step and download our free report now! How To Close ‘9 Out Of 10’™ Sales By Asking The ‘Right’ Questions! and learn a skill to make this business really fun and easy!

Jeremy Nason, RFC is the co-founder of the Insurance Pro Shop™ -“The first affordable, full-service insurance marketing and sales resource center for today’s Financial Pro, and Found Money Management™a system dedicated to helping Middle-Income Families to ‘Live Debt Free and Truly Wealthy!’ For more articles visit his blog!

Five Ingredients of Superstar Insurance Professionals

In the past 30 years we’ve seen a dramatic reduction in the sales force for the insurance industry. Agents are leaving in droves and there are very few companies that are bringing in new agents. This, at first, would seem to be good news for many of us… less competition.

However, the reduction in the sales force isn’t over yet. Our companies are still having trouble competing with the banks, investment houses, internet sales, television personalities and other distribution channels. Profit Margins are shrinking and our companies are still being forced to cut expenses. One of the easiest ways for them to cut expenses is to get rid of the low producing agents and only work with the most profitable agencies and producers.

So, the big question is whether you will still be here 5 years from now?

If you want to be a survivor and enjoy long term success in this industry, you’re going to have to make some major changes. You can no longer afford to be just an insurance agent selling insurance, or a financial advisor selling investments, you must become a true sales professional.

Being a sales professional means knowing you’re a salesperson, and making the customer’s needs primary. You cannot help people if you can’t get in front of them, and then get them to take action.

Most of the insurance agents and financial advisors entering this business did so because of the opportunity for exceptional financial rewards. However, the most successful agents and advisors soon discovered if they wanted to succeed it wasn’t about the money, but the service they were providing… Making A Difference In People Lives! 

Industry super-achievers, such as Ben Feldman and Mehdi Fakharzadeh have had a real passion for this business. They all have had a sincere belief in the industry and how it helps people.

What can we learn from them?

Ben Feldman pointed out that… “Most people buy not because they believe, but because the salesman believes.”

Mehdi Says: “Your Success Depends On How Other People Respond To You. Others Hasten Your Rewards. They Can Also Block Your Progress. Cultivate Sensitivity Towards People. Place Yourself In Their Shoes.” Remember The Golden Rule: “Do Unto Others As You Would Have Them Do Unto You.”

Here are five ingredients that all the industry legends have, that enabled them to build a successful lifetime career in sales. Read More

The Missing Piece To Make 2018 Your Most Profitable Year Ever!

Now, for many of you, this may sound very basic. And, as you read this you’ll probably say; “I’ve heard it all before!” The problem is… “Not one in a hundred agents are doing it!” Why aren’t more agents doing it? It’s because they believe it’s too complicated; it takes too much work, and they don’t know where to start! What am I talking about? I’m talking about creating a simple and very effective business plan!

Let’s make it very easy and we’ll help you get started…

All of the talk about a business plan is not hooplah.

If you really want to grow your business in 2018, then you must have a plan.  

An insurance business plan is just as important as it is in all other industries!

Have you ever used or heard the following? Read More

How Can You Consistently Close Sales With ‘9 Out Of 10’ People You Meet?

While most agents and advisors seem to think that closing sales with ‘9 Out Of 10’ people you see is impossible… if you know the ‘insider secrets’ it’s actually very easy!  During my 7 years as a personal producer I was able to consistently close ‘9 Out of 10’ people I met with.  That is one of the reasons my son Jeremy and I are being called the ‘9 Out Of 10 Guys’. (My Media Consultant, the legendary Forrest Wallace Cato came up with that phase when we first started the Insurance Pro Shop in 2000)  And, ‘No’, I wasn’t a pushy salesperson. I didn’t use any of the 101 closing techniques. My lapse rate was below 5%.  And, I didn’t replace other insurance policies in the home.

By the way, if you talk to most of the leading producers in our industry you’ll find that they are closing ‘9 out of 10’ people they meet with.  It’s because they know and practice these 3 ‘insider secrets’ I’m about to reveal to you. So, what I did wasn’t really anything special.

However, the fact that my sons and I have been able to help ‘9 Out Of 10’ agents and advisors to become significantly better at identifying, attracting and setting appointments with their ‘IDEAL’ prospects, and those agents and advisors are now closing a much higher percentage of their sales calls, is what makes our training unique and very special.   Read More

Hamburgers & Hotdogs

Working with agents on their cases is one of the many services you receive with our one on one coaching! In doing these cases (well over 1,000 cases a year!) I have found most agents are trying to hard! Trying to do too much and flat out not giving the prospect what they want!

We try to hard sometimes to fit the square peg in the round hole. 

What we do or should be doing is two different things.

If the client wants a Hamburger, give them a hamburger! Don’t try to talk them into wanting a hot dog.

Here is an example of what I mean…

I was working with an agent and 2 senior clients. The clients wanted income from one of their IRA’s. Easily the agent could have just put them into an Annuity with Income Rider or SPIA. Instead, of doing just that, the agent, wanted to sell them on Life Insurance to maximize their pension (one the right track, just the wrong time) and leaving money to their heirs. The agent lost the case because he was trying to sell the hotdog!

Bottom Line… Give the client want they want first, Make them a client! Then through reviews educate, prove and show them there is a better way!

Find out what your client really wants and watch your sales soar! It all starts today and right here! Download my free report.

Jeremy Nason, RFC is the co-founder of the Insurance Pro Shop™ -“The first affordable, full-service insurance marketing and sales resource center for today’s Financial Pro, and Found Money Management™a system dedicated to helping Middle-Income Families to ‘Live Debt Free and Truly Wealthy!’ For more articles visit his blog!

Prospecting… There has to be a better, much easier and more cost-effective approach…

Most agents in this industry are going about lead generation the wrong way!  They think prospecting is talking to anyone and everyone, knowing the more people they talk to the more they will sell.  This is true.  However there is a much easier way!  The approach we take (in all of our systems and training) is making sure that agents spend their time attracting, contacting and meeting with the right people!  Instead of playing the numbers game, we want the agent to focus on identifying the prospects that they have the best chance of selling. Our strategy is based on 5-4-3! If you talk to five (5) of the ‘Right Prospects’, you’ll set four (4) appointments and close three (3) sales.

The logic is that if you focus on finding and contacting the ‘right prospects’ it’s much easier to set appointments, close sales and make larger sales.  Plus, when you are working with the right prospects… you’ll have fewer cancelled appointments, fewer not-taken policies, fewer declined applications, fewer lapsed policies, etc.

Do you want to sell life insurance the easy way? Do you want to spend less money, generating leads? Do you want to earn $100,000 or more per year, without working 50, 60 or more hour per week?

Then Quit prospecting in the hardest way possible and ask the following questions…

  • Who Are Your Ideal Prospects Life Insurance?
  • Where Do You Find Them?
  • What are the most cost effective ways to get them to contact you?
  • What do you say to get the appointment?
  • How do you get them emotionally involved in the sales process?
  • Where do you find the money?
  • How do I sell cash-value life insurance instead of cheap term?

Read More

Why Are You Not Where You Want To Be?

Let’s keep this quick and simple…

Every day I speak with agents and advisors all over the world. They tell me that their sales aren’t where they want them, they don’t have enough prospects, they’re frustrated with their companies/FMO’s training, etc…

All these agents and advisor typically have all the tools they need except one thing.

Someone who will coach/mentor them through all the ups and downs of business. See, in my experience (20+years), You are just inches away from success. In most cases, you just need someone to put foot to butt to get you going, keep you motivated and fill in the gaps of information your missing that will blow up your sales, keep you in front of qualified prospects.

When I suggest this to agents and advisors, I almost always get the same response “I cannot afford a coach!”. When really the answer is “You can’t afford not to have a coach!” After discussing this with agents, I find money is not really the issue. It’s their pride, ego, fear. It’s not really the money. The problem is between there ears, getting the better of them.

Bottom Line… You’re not where you want to be because you don’t have a coach guiding you, pushing you, educating you, helping you fight these mental battles. The money will come with the right coach you should see almost an instant increase in sales and/or a decrease in expenses.

If you want to make 2018 a special year. Isn’t time for you to invest in yourself and get the help you need!

Download our Free eBook “How to Attract And Sell The Perfect Prospects” and get to know us a little more.

Jeremy Nason, RFC is the co-founder of the Insurance Pro Shop™ -“The first affordable, full-service insurance marketing and sales resource center for today’s Financial Pro, and Found Money Management™a system dedicated to helping Middle-Income Families to ‘Live Debt Free and Truly Wealthy!’ For more articles visit his blog!

Are You Making This Critical Mistake When You’re With Your Prospects?

Are you guilty of this critical mistake when it comes to closing sales? Are you talking too much, trying to be ‘interesting’, instead of being ‘interested?’

People think closing sales is all about fancy presentations, impressing people, and utilizing ‘closing techniques’, it’s not! Most of the agents I talk to are trying to impress their prospects with what they know, what they’ve accomplished, the great companies they represent and the competitive products they offer. However, as the TOP Sales Professionals know, closing sales (especially higher value ones) is all about you being interested, and not about being interesting.

Being Interested Closes More Sales
During your sales calls, are you asking probing questions? Are you interested in and really listening to what your prospect is saying? Or, are you thinking about what you’ll say next while the prospect is talking to you?

If you ask enough probing questions and really listen to what your prospect says, you’ll discover what it is they really want and they will tell you exactly what you must do to close them. Most agents tend to do all the talking and never listen long enough or carefully enough to find out what the prospect truly wants. Consequently they miss the real sale. Read More