Selling insurance isn’t easy, not even when it’s amazing insurance products from Final Expense. Finding qualified leads can be tough, and that’s just getting your foot in the door. The most effective insurance sellers use a combination of knowledge, personality, and psychology to help consumers see the value in our products. Here are four strategies you can use to convert more of your leads into sales.
Avoid Lecturing Clients or Telling Them What to Do
A common mistake many agents and advisors make is to accidentally start lecturing a client or telling them what to do. It’s tempting to start talking about all of the ways that the agent can help solve the problem. This can be counterproductive. To the prospect, it can seem like the agent is lecturing them or telling them what to do. Even if they agree with what you’re saying, they can be resistant to change and skeptical of the offer because of the way it’s presented.
The better way to do this is to help the prospect realize for themselves that they want the service you’re offering. Once you understand the person’s problem lead the conversation in such a way that will ask you for the information, you want to give them. This allows the prospect to feel like they are getting what they want from the conversation and not being lectured to a sales agent. People are more accepting of answers they reach on their own, so getting them to realize for themselves that they need the product can lead to more conversions.
Find Common Ground
Since so much of being an insurance agent depends on the relationship you form with clients, it’s important to find common ground with everyone you speak with. Regardless your prospect’s age or background there’s always something you have in common. Did you grow up in the same neighborhood or state? Do you like the same sports team? Do you both have iPhones? And a common denominator for most people is that love their families. Being able to quickly pick up on these commonalities and making a quick comment about them can help you establish a rapport with prospect. This can help the prospect see you as more than just another agent, and that connection can help close deals. Make sure to keep a note of how you were able to establish common ground with each prospect. You don’t want to go back for a second visit and say the same things you did the first time.
Don’t Spew Features
In all forms of sales, it’s important to remember that people buy solutions, not features. All products have features, but the features people care about are the ones that can be solutions for issues they have. Many agents make the mistake of focusing on product features rather than benefits. Make sure that when you describe product features, you frame them in a way the highlights the benefit to the client.
Another thing to keep in mind is that a client will probably only care about two or three of the many features of a product. It’s important for the agent to know all of the features in case one of them is relevant, but they should focus on product features that will satisfy their needs. There will be a time to go over the more technical bits of a policy, but to get them interested highlight how having a particular policy will help them in terms they can understand. For example, explain how the policy help will pay the bills if they become disabled.
Ask Strategic Questions and Be Prepared to Combat Common Objections
There is a tendency among some insurance agents to immediately move in for the sale as soon as they hear a question that can be used as a platform to sell a product. Instead of jumping at the first opportunity, there is a benefit to slowing down and asking strategic questions. These are the types of questions that allow you to better understand the true needs of a prospect. For example, if someone asks, “Do you have flood coverage?” Use that opportunity to ask them about value of the contents in the basement or about the potential financial hardship that would they had to repair or replace all of those contents out-of-pocket. Asking these questions can make it easier to make conversions with the prospect later.
It’s also important to come prepared to answer the common conversation stoppers that clients use when they’re trying to end the conversation before it starts. Consumers will often try to make the case that they do not need certain lines of coverage or specific types of insurance policies. Have quick rebuttals ready that can explain the value, affordability, and need for the proposed insurance policy.
Be sure to take advantage of all of the helpful materials at LearningFE.com that can show you the best way to convert prospects to clients for Final Expense.