Closing Insurance Sales
Insurance trainees are meaningless fed a truckload of time
consuming number schemes developed by the company masters above. The
incredible part is that these trainees are brainwashed into they believe
the numbers are true, their career ends, or both occur.
What is the difference between insurance trainees and sheep. Well sheep willingly follow behind a leader that protects them from harm. Insurance trainees also follow a leader. However, their leader plays all kinds of number games into their head until they lose their way or voluntarily jump off a cliff. Then why does the sales manager, seeing the pattern repeatedly, not change it? He can easily find more insurance trainee sheep when some go astray. Remember your leader never considers your logic. He will only accept his logic and that of the insurance company.
Examples of number games insurance agents are instructed to routinely participate in:
1. Write out a 100 name list. This list must be completed before you sign your contract. On it are 100 names of friends, relatives, and associates to contract. Agent logic: Why bother those that you know are not interested at this time period, or lack the funds or health to make a purchase? Between driving time and giving your out of a can presentation, easily 2 to 3 hours are lost. The build up tension and rejection are not easily restored by sleep.
2. Complete 50 phone conversations daily. Agent Logic: 4 hours, or longer, on the phone might get you one forced appointment, or an easy appointment from a lonely person. Forced appointment prospects have a keen way of disappearing just before your appointment time. Rescheduling often leads to a second no show. Only occasionally will you be in the right place at the right time.
3. Schedule 8 appointments weekly. Agent logic: 8 appointments would be fantastic is the manager's projections actually materialized. You are going to have no shows. Many objection-stopping interviews will occur. How many sales are actually being made? Moreover, are you writing enough weekly premiums to meet your contract requirements?
None of these numbers, and the many more that you will be given, make any professional sense. You did enter the business thinking of being a professional, right. Well then why are you working as a part-time telephone solicitor and part-time wild goose "lead" chaser burning up your car and wallet?
Your sales manager is often the type that wants you to work your butt off while he rests his. Magically sales will appear once you start working much harder. The number mazes somehow never seem to have financially rewarding endings. Enough of this cheesy stinking sticky way! No sales professional in your office is following the trainee route.
It is time to realize that quality is what counts. Quality always trumps quantity. A quantity of 250 phone calls can lead to 8 shaky appoints that manage to hold, yet end in only 2 long winded, objection overcoming sales crediting you with $400.00 in commissions. In comparison, the office insurance pro might make 10 calls, go on 3 appointments, and finalize the week with $2,000 in commissions.
After clearing your head, you can realize that because time and quality are so important in insurance sales, only one number is truly the one to focus on. That number is your closing ratio. The percentage of sales that you make when factored into full presentations. STOP: Agent Logic is Required. Increasing the number of presentations does not necessary increase sales or your closing ratio. You can talk more, fight more objections, yet you might end up with false hope and less money.
SHOW ME THE MONEY HONEY Yes, there is a quick proven way to success. The two things that must be added are quality, and new sales techniques. Spend your time learning, revising, shortening, and practicing your sales skills. You must be confident in yourself you are dealing fairly by helping quality prospects. Your goal is to keep developing your closing skills, as you never reach perfection.
Higher quality leads are obtained by NOT using time-consuming telephone prospecting. An internet source or seasoned list broker can help you develop quality leads without the major time waster - cold calling. Needless to say, quality leads translate to quality presentations with a sufficient opportunity to close the sale.
Closing ratios using traditional quantity garbage might be as low as 20%. In contrast, an insurance professional who has mastered many closing skills might have an 80% closing ratio. Does the pro make 4 times more. NO. Often it is 6 times more. Sure, they sell 4 times more often, but as a bonus of experience and confidence, the policies average a higher premium. As an added topping, there are frequent occasions when multiple policies are sold during the same presentation.
You chose to become an insurance sales agent to make money and have a rewarding career, Forget your sales manager's smokescreen numbers. Closing more insurance sales by increasing the sales ratio, is the important number you need to be concerned with.
In case, you are wondering. Look at the true numbers that need to be reckoned with. The survival rate numbers of insurance sales managers are some of the lowest numbers around.
What is the difference between insurance trainees and sheep. Well sheep willingly follow behind a leader that protects them from harm. Insurance trainees also follow a leader. However, their leader plays all kinds of number games into their head until they lose their way or voluntarily jump off a cliff. Then why does the sales manager, seeing the pattern repeatedly, not change it? He can easily find more insurance trainee sheep when some go astray. Remember your leader never considers your logic. He will only accept his logic and that of the insurance company.
Examples of number games insurance agents are instructed to routinely participate in:
1. Write out a 100 name list. This list must be completed before you sign your contract. On it are 100 names of friends, relatives, and associates to contract. Agent logic: Why bother those that you know are not interested at this time period, or lack the funds or health to make a purchase? Between driving time and giving your out of a can presentation, easily 2 to 3 hours are lost. The build up tension and rejection are not easily restored by sleep.
2. Complete 50 phone conversations daily. Agent Logic: 4 hours, or longer, on the phone might get you one forced appointment, or an easy appointment from a lonely person. Forced appointment prospects have a keen way of disappearing just before your appointment time. Rescheduling often leads to a second no show. Only occasionally will you be in the right place at the right time.
3. Schedule 8 appointments weekly. Agent logic: 8 appointments would be fantastic is the manager's projections actually materialized. You are going to have no shows. Many objection-stopping interviews will occur. How many sales are actually being made? Moreover, are you writing enough weekly premiums to meet your contract requirements?
None of these numbers, and the many more that you will be given, make any professional sense. You did enter the business thinking of being a professional, right. Well then why are you working as a part-time telephone solicitor and part-time wild goose "lead" chaser burning up your car and wallet?
Your sales manager is often the type that wants you to work your butt off while he rests his. Magically sales will appear once you start working much harder. The number mazes somehow never seem to have financially rewarding endings. Enough of this cheesy stinking sticky way! No sales professional in your office is following the trainee route.
It is time to realize that quality is what counts. Quality always trumps quantity. A quantity of 250 phone calls can lead to 8 shaky appoints that manage to hold, yet end in only 2 long winded, objection overcoming sales crediting you with $400.00 in commissions. In comparison, the office insurance pro might make 10 calls, go on 3 appointments, and finalize the week with $2,000 in commissions.
After clearing your head, you can realize that because time and quality are so important in insurance sales, only one number is truly the one to focus on. That number is your closing ratio. The percentage of sales that you make when factored into full presentations. STOP: Agent Logic is Required. Increasing the number of presentations does not necessary increase sales or your closing ratio. You can talk more, fight more objections, yet you might end up with false hope and less money.
SHOW ME THE MONEY HONEY Yes, there is a quick proven way to success. The two things that must be added are quality, and new sales techniques. Spend your time learning, revising, shortening, and practicing your sales skills. You must be confident in yourself you are dealing fairly by helping quality prospects. Your goal is to keep developing your closing skills, as you never reach perfection.
Higher quality leads are obtained by NOT using time-consuming telephone prospecting. An internet source or seasoned list broker can help you develop quality leads without the major time waster - cold calling. Needless to say, quality leads translate to quality presentations with a sufficient opportunity to close the sale.
Closing ratios using traditional quantity garbage might be as low as 20%. In contrast, an insurance professional who has mastered many closing skills might have an 80% closing ratio. Does the pro make 4 times more. NO. Often it is 6 times more. Sure, they sell 4 times more often, but as a bonus of experience and confidence, the policies average a higher premium. As an added topping, there are frequent occasions when multiple policies are sold during the same presentation.
You chose to become an insurance sales agent to make money and have a rewarding career, Forget your sales manager's smokescreen numbers. Closing more insurance sales by increasing the sales ratio, is the important number you need to be concerned with.
In case, you are wondering. Look at the true numbers that need to be reckoned with. The survival rate numbers of insurance sales managers are some of the lowest numbers around.
Well published author, Don Yerke likes to concentrate on what you
don't know or what no one else dares to print. Tell it like it is.
Watch for his new paperback book debuting on Amazon this spring. It is loaded with great insurance marketing and recruiting information.
Watch for his new paperback book debuting on Amazon this spring. It is loaded with great insurance marketing and recruiting information.
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