10 Things I learned from selling 1,000 Insurance Policies in One Year Over the Phone
1 – Controlling the conversation is the most important thing you can do
Customers want to take control of the process, you have to set the tone, control the pace and be the professional. Grab their attention early, establish yourself as the professional and hold that frame through the rest of the call.
2 – Discovery makes or breaks the sale
Don’t use it just to gather information, use it to set the table for the close. Quality discovery helps you guide the conversation into the direction you want it to go instead of down a rabbit hole the customer will try to get you to follow them down.
3 – Customers say they want the lowest price
Many want the best value instead. This is true in insurance, auto sales, mortgages, and even restaurants. Someone buying a Chevy and buying a BMW will BOTH tell you they want the best price, lowest payment etc…. But in the end what they really want is the car.
4 – Customers will often make decisions that are not in their own best interests
Some will go with an inferior product at a higher price than you have available. Some will buy your product when the one they already have would be better. As a salesperson it’s not your job to judge them, it’s your job to advise them and lead them to a good decision. If they choose differently than you would have advised them to, genuinely wish them luck and move on.
5 – Pressuring someone to purchase even if it’s a good deal, seldom works and when it does it leads to cancellations
If someone isn’t genuinely motivated to buy what you’re selling, even if you high pressure close them they will turn around and cancel as quickly as they possibly can.
6 – Giving a customer the feeling of control helps you control the sale.
One way to NOT have to pressure your clients is to give them a feeling of control. You do that by being in control yourself, providing them with the information and options they need at the times they need it, telling them what you’re going to do and why you’re doing it. Give them genuine choices of features, benefits, payments, and even products you may offer. Let them be in the driver seat while you’re the cruise control. The more they feel informed and respected, the more control they will feel and the easier it will be to guide them through your process, ask for the sale, and counter any objections they may give.
Having GENUINE empathy is the most valuable trait you can have, and the best way to allow your customer to feel the sense of control they need. Some clients have no money and have to make difficult choices, some people will just not do what you think they should. Some are angry, abusive, shy, pushy, passive, uneducated, or overeducated. No matter who you are talking to if they know you have LISTENED to them, and value them as human beings, even the most angry difficult people can become valued customers.
7 – The key to selling more isn’t to give the customer what they asked for
Instead show them the value WIIFT (What’s in it for THEM) of your product and YOUR expertise.
8 – Having a very specific script for all stages of the sale from hello, discovery, asking for the sale and all the way through goodbye is critically important.
It allows you to test and track small changes in your approach to hone your personal sales process. Great actors, news anchors, stand up comics, singers all follow scripts. Improvised movies and standup is less polished vs scripted.
9 – Objection handling is easy
When you know the features and benefits of your product, know how to compare it against the competition, believe that you are doing what’s in their best interest and control your emotions.
10- Customers often throw up objections to test you or out of simple fear of making a decision.
Your confidence and commitment to knowing you’ve done the right thing for them will close more sales than the fanciest objection handling scripts.
