They say that the best insurance agents and sales people are the ones who “don’t take no for an answer,” but that’s much easier said than done. After all, people do say no and sometimes even have valid objections. But if your objective is to write a policy and give your customer the appropriate amount of coverage, how do you get them to see it from your perspective?
Handling objections is tough, and not everyone can do it. Many people hear the word “no” and give up immediately, but the battle isn’t over just because someone said no. There are ways to change people’s minds.
We have gathered advice from insurance agents along with real stories and tips on how to act in challenging situations like these.
What do the customers say?
Some of the most common excuses:
- “I can’t afford it; it’s all I can do to pay the mortgage!”
- “Why do I need it?”
- “I’m still shopping around.”
- “I need to think about it.”
- “Let me discuss it with my existing agent.”
All agents need to understand that there aren’t any “new” objections and that all objections fall into one of four categories:
- No need.
- No hurry.
- No money.
- No confidence.
Generally, people will not buy something they can’t find a need for and if the agent isn’t confident. Why would anyone do business with you when you aren’t even sure of yourself?
According to popular opinion, one of the most important things that an agent needs to do is to highlight the benefits of the product specifically for the prospective buyer. An agent should be able to explain the cost associated with the product or service with measurable confidence. They should also be able to handle objections with their knowledge of the product.
The most important part of a sales-conversation would be to identify what the objection is and why a potential customer has these objections.
According to another insurance agent’s opinion, thorough estate planning and financial planning requires extensive fact finding, and before an agent can make the customers comfortable enough to disclose some personal and private information, the agent must be able to build solid relationship with the customers and gain their trust. Though the process is lengthy as it takes time to build trust, can be rewarding too.
One of the most important things for an insurance agent to do is to manage each objection seamlessly and confidently. If we show hesitation in responding to an objection, the customer may form a certain opinion in the agent’s ability to provide him/her with a high-qualified service.
What’s the trick?
Few customers make no objections before making a purchase, even if they trust their insurance agent. Every time a customer says “no, I don’t need that,” they test the agent’s competence and ability to persuade them.
Here are the 8 best tips that will increase an insurance agent’s confidence and perfect his or her selling techniques:
I. Value yourself
A healthy sense of worth is all about being confident and straight forward, especially when dealing with insurance sales. If you have some doubts concerning your product, think about how the product will benefit the customer, and if you can’t think of anything, think of appropriate alternatives. Since insurance is a genuinely good and helpful product, this shouldn’t be too difficult. Just remember that your job and the services that you provide help people.
II. Target your sales
There is no secret that it is much easier to sell anything when someone actually wants to buy your service or product. Every time you buy a lead, make sure that the proper filters and can handle the workload. Companies like InsuranceFiles.com help you determine what kind of leads work best for you and how much you can handle in any given period of time. You may specialize in a certain type of insurance or want to work in a certain region. With targeted leads you can do that easily.
III. Demonstrate value
Put yourself in the costumer’s shoes and ask “what’s in it for me?” Get ready to show the value of what you offer. It could be a good idea to show real prices and give real life examples. The facts can sound rather harsh, but may convince the potential customer to follow your advice and purchase auto insurance. But make sure your stories are real. Customers can definitely tell the difference.
Once again, customers can tell when you’re just phoning it in and even you don’t believe what you’re saying. Identify the customer’s needs and fill them. While you’re doing this, keep in mind that you’re helping someone. Not only will this help you write more policies, it will keep you happy and satisfied with your job longer.
V. Go beyond
Don’t just sell a product; go beyond. Take anything that motivates you and use it to help you close more sales. If you are very passionate about a certain charity, give yourself a quota and donate everything you make that surpasses the quota to that charity.
This is not only good for your soul, it’s good for your reputation.
VI. Build strong relationships
We trust the people we like and people we know. So get to know your customers and establish trust. This isn’t the fastest process, but it is very worthwhile. Not only will you be able to serve your customers better, they will trust recommendations you make.
To create customer awareness, be active on your social media accounts and engage with people. Sales pitches are important too, but building a trusting relationship can be the lynch pin for closing a deal. Chat with your customers, find out how they are doing and see your relationship (and possibly even your book) grow.
VII. Set financial goals
Figure how much you need to sell each day to reach your quota. A properly planned day/week will keep everything in perspective and help you to achieve financial success faster.
VIII. Achieve the proper mindset
Forget the words “I’m not sure” and think positively and confidently. Remind yourself every single day that you are good at what you’re doing, that selling is a part of your job, and people want what you’re offering.
Every insurance agent needs to realize that it’s their responsibility to properly protect their clients. It is not only about a price tag but also each person’s safety.
Don’t forget that the best way to find new customers is with the help of insurance leads. For a great source of leads that really convert, click here to sign up!