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How to Increase Your Sales in Insurance
| Guest post by: Gordon O'Neill |
Article Overview: Ensure your customers are protected against the worst case scenario. By following my unique approach to insurance sales, you will optimize your sales presentation and change the way you feel about insurance. As a result, you will see your sales go through the roof and more of your customers will be protected.
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Free Download - How to Sell to the Price Driven Customer By Gordon O'Neill |
How to Increase Your Sales in Insurance
When selling insurance your mindset going into the sales presentation is key. You must believe that you are protecting your customer from a pain far greater than the cost of a monthly premium. A crippling injury can immediately change the path of your customer's life. You are selling them a life vest that will keep them afloat.
Having this mindset is easy, because it's the truth.
Many sales professionals don't view insurance sales this way, they are so afraid that if they mention insurance, their customers will only see the bottom line getting bigger and ultimately it will jeopardize the entire sale.
Your mindset, your approach, your focus is the energy that fuels the direction of the sale. If you believe you are offering your customer something that could protect them and add to the quality of their life, they will feel that. If you are hesitant going into the sales presentation and fearful of loosing the deal altogether they will feel that too.
Statistics show that nearly 13% of YOUR customers will inevitably suffer a serious disability. What if YOU were the salesperson that didn't offer them insurance?
Insurance is crucial, it protects our property, possessions, income, and even our credit rating in the case of an unforeseen event.
Many sales professionals don't recognise the value in insurance. The best type of insurance is the one that we will never have to use. However if the time comes that your customers could use insurance the value is priceless. It is our responsibility as sales professionals to inform our customers that we have creditor insurance products available.
Throughout my career, I was always an industry leader in insurance sales and I had some of the highest insurance penetration rates in the country.
I have always believed in fully securing loans, but I quickly learned that many people don't feel the same way.
I found that most of my clients were willing to purchase life insurance however they were reluctant to opt for disability benefits.
I couldn't understand why anyone wouldn't want disability insurance. Even when I would use real life examples of people that I knew who had suffered a disability, my customers still didn't seems to see the value.
After months of unsuccessfully promoting disability insurance I had an epiphany.
I begin using a story about a fictional character named John and titled it The Man Who Didn't Die.
I discovered that I didn't have to sell disability insurance. All I had to do was give my customers this story, when they finished reading it, suddenly the insurance sold itself.
This story dramatically increased my sales and allowed me to position the insurance sale in a way that connected with my customers and showed them the value in the product.
By using this sales tool you take yourself and your sales pitch out of the equation and allow the customer to make an informed decision on their own. Naturally your insurance sales will increase.
THE MAN WHO DIDN'T DIE
John Smith was a family man who worked hard to provide his family with a comfortable middle-class lifestyle. He considered himself to be responsible, so he purchased Life Insurance.
John felt that if he died too soon the Life Insurance would provide sufficient money to maintain his family's standard of living; the mortgage and other debts would be repaid; Susan, his wife, would not have to go back to work; and Scott, his son, would be able to attend university. John did not, however purchase DISABILITY INSURANCE because he was healthy and didn't need it.
One day John did suffer a prolonged disability which would prevent him from earning an income for several years!
BECUSE JOHN DIDN'T DIE, his mortgage and other debts were not repaid. In fact, with no income, his mortgage payments soon fell in arrears and the bank foreclosed and they lost their home!
BECUSE JOHN DIDN'T DIE, Susan had to go back to work at near minimum wage which was barely sufficient to keep food on the table.
BECUSE JOHN DIDN'T DIE, the money set aside for Scott's education was used for living expenses. He now has to find a job with little prospect for continuing his education.
BECUSE JOHN DIDN'T DIE, he had to watch his family lose the standard of living he had worked so hard to provide. While John didn't die, there were days he wished he had!
Ultimately, for most of us, financial security depends on our ability to continue earning an income,, and that income requires us to be healthy!
People are justifiably concerned about automobile crashes, home fires and deaths in the family, but statistics indicate that the odds of being disabled are much greater. On average, each year:
- 1 out of every 106 people dies.
- 1 out of every 88 homes catches fire.
- 1 out of every 70 cars is in a crash.
- But, 1 out of every 8 people suffers a serious disability.*
* Source: David Bach, Smart Women Finish Rich (Broadway Books, 2002)
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Article Tags: increase insurance sales, increase penetration rates, increase sales, insurance, insurance sales, sales presentation
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About the Author: Gordon O'Neill RSS for Gordon's articles - Visit Gordon's website He is one of Canada's leading sales and marketing experts in the financial services, insurance, and commissioned sales fields. Through speaking engagements, Gordon has captivated thousands of sales professionals in these fields. Audiences find Gordon to be motivating, inspirational, and thought provoking. By drawing lessons from fascinating real-world examples, he educates and empowers decision makers. As a certified life coach and expert in neuro-linguistics programming, Gordon easily provides the necessary knowledge to make the best business decisions, utilizing his proven sales strategies. Gordon was born into business and started his sales career at a very young age. When he was only 18, he started a career in automotive sales at a large Chrysler dealership in Toronto, where he joined a team of more than 20 salespeople and quickly went from young upstart to top salesperson after just one month. Gordon maintained top status until moving into management. Gordon's unique career achievements include automotive sales and leasing, business management, financial services, insurance, tool and die making, construction, wholesale manufacturing, retail, and landscaping. His background has provided him with the rare opportunity to relate to many different business fields. Gordon also holds certifications in Project Management, Lean Management, and Six Sigma (Black Belt). Gordon's background and career experiences have moulded him into the sales expert that he is today, and he has helped transform the careers of many very successful salespeople. His book Sales Survival is coming out this fall. Sales Survival is a complete guide to a career in sales, including effective communication, sales techniques, customer retention, marketing strategies, and becoming the professional salesperson. Click here to visit Gordon's website   How to Generate Sales and the Danger of Vitamin C Deficiency Sales Techniques for the Telephone How to Sell to the Price Driven Customer A Unique Approach to Increase Sales Create a Marketing Strategy to Attract Customers and Increase Sales |
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