In a recent Life Insurance Selling article Paul D. Kaplan states, “The insurance industry has bred a bunch of order-takers.” You may not think you’re an order-taker, and even if you are you may not realize why being an order-taker is bad for you. When you’re just an order-taker you lose and you lose big.
It may be hard for you to imagine why the industry seems to have dropped the ball when it comes to training agents to achieve success. There is a discrepancy between the way you succeed and the way the insurance company’s succeed. The insurance companies profit whether you succeed or not. They simply recruit a new you knowing a new recruit will statistically produce a certain level and then fail out. When the recruit fails the insurance company retains the policies. They profit without investing in you.
When you behave like an order-taker you do your clients a disservice. You approach a prospect or prospects approach you as a result of product awareness. You only get a superficial understanding of the prospects situation and needs making it nearly impossible for you to make the best recommendation for the prospect. It’s no wonder clients obtained this way have a low retention rate.
Order-takers approach sales from a product perspective. When you try to sell products rather than outcomes and solutions you’re selling something no one wants. No one wants a product. They think of products as an unnecessary expense. People want outcomes and results and that means you need to approach sales from the perspective of what the clients gets over and above an intangible product.
When you focus on products and product sales it all comes down to price. You can’t control price. Positioning yourself on price has no value to your long-term success. You’re attracting the price shoppers. Price shoppers are high maintenance clients and they leave you at the drop of a hat.
Stop behaving like an order-taker and start behaving like a trusted advisor. Don’t sell products sell outcomes and results. Those outcomes are easily articulated without mentioning products or product performance. You can sell outcomes without creating compliance problems.
People don’t want to buy products, and they certainly don’t want to buy those products now. Your insurance products are viewed as an unnecessary discretionary expense. Your prospect is thinking about what they could do with that money now that would make a difference in their lives.
If you want prospects to buy and buy now you have to fulfill an immediate need. Your solution must take care of that immediate need directly or indirectly through association. What do your best prospects need or want now?
When you identify this immediate need and position yourself to fulfill that need you’ll notice an immediate and effortless increase in your sales and control your future. You can’t rely on the industry to help you succeed you can only rely on yourself. What do you need to do to get the help you need to succeed?