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The Easiest Sale in the World?

What's the eas­i­est thing in the world to sell?

One could make a good case for insur­ance.  If that wasn't that the first thing that popped into your mind, con­sider the uni­ver­sal val­ues to which insur­ance appeals:

  • We want to feel secure, and insur­ance helps pro­vide us with secu­rity. Even before we need to use it, we ben­e­fit from the feel­ing of secu­rity that sim­ply own­ing insur­ance provides.
  • We want to enhance and pro­tect our wealth, and insur­ance is designed to do exactly that.
  • We want things that are con­ve­nient and easy to use, and what could be eas­ier to use than insur­ance? Buy it and the hard part's over; all you have to do after that is go about your daily life.
  • We like to feel good about our­selves. When we make intel­li­gent choices that lever­age our cur­rent assets to pro­tect our future, we get a lit­tle boost to our esteem by hav­ing done some proac­tive planning.

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If you're not ready to quit your day job and start sell­ing insur­ance, don't worry: you're in good com­pany. My guess is that all but the best insur­ance sales­peo­ple would beg to dif­fer with the idea that sell­ing insur­ance is a slam dunk.  If it was so easy, why wouldn't every­one choose to do it?  Ask your typ­i­cal insur­ance sales­per­son if what they do is easy and you prob­a­bly won't hear many of them say "absolutely."  Why is that?

One rea­son: these uni­ver­sal val­ues that we have as humans and to which insur­ance appeals are so fun­da­men­tal, we don't give them a lot of con­scious atten­tion.  Instead of look­ing at insur­ance as a solu­tion, we tend to think of it as "over­head," some­thing we have to buy to be in com­pli­ance with the law, or because the fail­ure to do so would be short-sided and finan­cially risky.

Sell­ing insur­ance requires you to con­nect your prod­ucts to the val­ues and needs of your cus­tomers.  When done in a pos­i­tive, col­lab­o­ra­tive way, insur­ance sell­ers become solu­tion providers.

Here are some tips for keep­ing the sales process both pos­i­tive and collaborative:

  • Ask: Eval­u­at­ing the val­ues and needs of your cus­tomers requires you to under­stand their busi­ness and fam­ily sit­u­a­tions, their finan­cial objec­tives, their tol­er­ance of or aver­sion to risk, their plans for the future and a whole pro­file of other qual­i­ties unique to the type of insur­ance you sell. The best way to learn about these needs is to start with some open ques­tions (those ques­tions that solicit an expla­na­tion rather than a "yes," "no" or other short answer response).

Exam­ples:

  • Why do you want/need insurance?
  • What's the most impor­tant thing to you when it comes to buy­ing insurance?
  • Where do want to be finan­cially in five years? Ten years? At retirement?
  • How does this fit in with your other business/household objectives?
  • Lis­ten: After solic­it­ing the customer's input, lis­ten with­out inter­rupt­ing. Pay just as much atten­tion to what's not said: What top­ics make them uncom­fort­able? How well do they under­stand the specifics of this type of insur­ance? Are they fol­low­ing you, or are they just nod­ding in agree­ment so as not to appear ignorant?Remember that peo­ple don't tend to shop for insur­ance very often, so they may be less famil­iar with the process, fea­tures and ben­e­fits of your prod­ucts than with those things they buy more fre­quently. Make it easy for peo­ple to ask ques­tions; the more com­fort­able you make the sales process, the bet­ter your col­lab­o­ra­tion and the sooner you'll estab­lish trust.
  • Sug­gest: Once you under­stand the val­ues and needs of your cus­tomer, sug­gest only those poli­cies and options that make sense for their unique sit­u­a­tion. The way in which you sug­gest these are key to clos­ing the sale. Remem­ber that buy­ing insur­ance from you is ulti­mately the customer's deci­sion. By sug­gest­ing rather than direct­ing a course of action you main­tain a col­lab­o­ra­tive rela­tion­ship with the cus­tomer, that essen­tial com­po­nent wherein the cus­tomer shares both respon­si­bil­ity and reward for the deci­sions you make together.
  • Refrain: Avoid over­selling the cus­tomer. Over­selling is a short-sighted view, par­tic­u­larly when it comes to insur­ance; at some point cus­tomers will be lured away by lower pre­mi­ums which are more in-line with their actual needs. Take the long view; build a rela­tion­ship based on trust and you'll earn more  through repeat busi­ness and refer­rals than you'll make on any one sales prospect.
  • Maybe sell­ing insur­ance isn't the eas­i­est thing in the world, but it can be one of the most reward­ing and prof­itable if you keep the focus on what's of value to your customers.

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    • http://www.inteliwise.com Vir­tual Agent

      I guess, in our part of the world, where insur­ance com­pa­nies are far and few in num­bers, ever since they closed shop and had gone bank­rupt, it's harder to trust and sell insur­ance. Though, in a sen­si­ble way, it is quite an impor­tant invest­ment for all sorts of facets of a person's life.






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