Here are eight tips for improving your insurance sales and marketing strategies. By using just one or two of these ideas, you can make stronger connections with more prospects and clients.
1. Eliminate non-words and filler language from your speech. When you are tempted to lapse into "uh," "um," or poor speech habits such as "like," and "you know," concentrate on using two- or three-second pauses instead. You can practice by recording a mock sales interview. Then, make a second one, this time replacing your bad speech habits with planned silences. Play back the recording and observe how you sound more confident, knowledgeable, and in control of the conversation.
2. Never plan a call without looking at things from your prospect's point of view. Consider his or her interests and needs before your own. Then recommend the course of action you would take if you were in that position.
3. Don't be intimidated by high-net-worth prospects, even when they are surrounded by a group of professional advisors and mounds of paperwork. Sorting through the wills, tax plans, trusts and investments to find the client's true financial picture can be daunting, but they often need a knowledgeable producer to help them out. With more assets, high-net-worth individuals have a lot more to lose if they don't have their financial plans in order, and it can become a great opportunity for you.
4. Create a comprehensive business and marketing plan that provides a strategy for one to three years. Your growth plan should project your income flow monthly, quarterly and yearly, and determine how you will achieve that income. Accomplishing more success requires working harder and smarter, targeting the right market segments, and building your reputation.
5. It is hard for younger clients to look into the future and picture themselves as retirees needing the income that insurance products can provide them. Instead, ask them to imagine how their parents felt 30 or 40 years ago, and look where they are today. If the parents were good investors and savers, the clients have a goal for which to aim. If the parents weren't the best at financial planning, your clients have an example to learn from and improve upon.
6. Incorporate the phrase, "Here's where you need help" when you cover the appropriate points during the "recommendations" phase of your sales process. Then you are not selling any more, but working on a real plan.
7. When giving a seminar, put out fewer chairs than you expect you will need. If you are expecting 50 people to show up, put out 35 chairs. Then when you have to add additional chairs as the last attendees arrive, it gives the impression that you have an overflow crowd. People clamoring to see your seminar builds credibility in the minds of attendees before even begin.
8. Being heavily involved in your community is a great way to meet people who can help you build your business. The more active you are, the more people will recognize your name -- which can be very helpful when you approach a CPA, an LTCI specialist, an attorney or another professional about forming an alliance.