People typically cringe when someone says “insurance”. They avoid the “insurance man” and the insurance question at every cost. That’s the climate in which we are expected to make sales. Add to that the negative pressure the insurance industry has received in the past couple of years and increased sales becomes a mountain to climb.
None of that changes people’s need for insurance. The more uncertain things are the more certain the need for the stability insurance provides. My step-father once said to me the most profound thing I ever heard: “I’ve always believed in insurance because I never had anything.”
How does that sound in this economy? No excuses! People need insurance when they don’t have anything NOT when they have everything. Insurance is their port in the storm.
How do we then increase sales?
Marketing is essential – not advertising! Many people confuse an ad in the newspaper with marketing. That’s advertising, not the same as marketing. When you create a desire in the other person for what you have, you’re marketing. Advertising typically is just announcing availability. If there is no desire there will be no sale.
Unless you have a line of people at your front door wanting to buy from you, you will have to become a master at marketing. Marketing, creating a desire for what you have, is the only thing that’ll create the line at the front door.
Meeting needs – not your needs. The typical sales joke is; “I believe in needs based selling (which means I need to sell something so you need to buy it).” I’ve watched insurance being sold as a “lottery ticket” rather than providing a real hope in an emergency.
What need(s) does the client have that will be met if they purchase coverage from you? How well you explain that and how many different ways you can explain that will be directly reflected in your sales.
Not asking for referrals – you didn’t see that one coming did you? We’ve been told forever in the insurance business that the secret to increased sales is to ask for referrals. There are classes and manuals on getting referrals, but the secret isn’t asking – most insurance people don’t do that as well as they’d like to think they do. The secret is helping the other person know how to refer you.
Just because you closed a transaction with someone doesn’t mean that they are a good referral source. You need to qualify that person by giving them the best means to refer you.
- Do you have a trust relationship with the referer?
- Can they explain in 15 seconds the value of what you do?
- Do they see you as a resource?
- Do they see you as an expert?
- Why did they buy from you? (Do you know? Do they know?)
Don’t let the economy keep you from marketing, meeting needs and getting referred. Increasing insurance sales in today’s economy is tough, but people need insurance when they have nothing else?