Thursday, July 7, 2016

When Is Your Best Really Your Best?

When is your best really your best?  Is it when you get the most possible commission on a case?  Is it when you sell your favorite product of insurance or get a bunch of referrals after a case has placed?  How about achieving a level of production that earns you a trip or doing more business than everyone else in your office?  Everyone has a different answer, but I think I have the answer that works for everyone.  Try this one.  Your best is when you blend the home life you want with the work life you want and clients who continually leave their meetings with you happier than they were when they got there.  Let's focus on the client for a sec.  A lot of people in insurance are good salesmen.  Some are good because it comes natural.  Some follow a proven process that ends with consistent positive results.  Though people are buying, are they really getting the best experience from you.  If only half of your prospects (who you ask to buy) are making a purchase from you, I say no.  Here's why.  If you are across the table from a client or clients, they are expecting that if they are presented with a solution that works for them, they will buy it.  If not, they wouldn't be there.  So what are the factors in play that are keeping your close rate under 50% or under 80% for that matter?  Here are a few answers in no particular order.

-Your clients do not understand what you want them to buy.  If it sounds complicated, you're probably not going to sell much of it.  You have to break it down into bite sized chunks and confirm their understanding of each part.

-It's not in budget.  If you cant make it fit into the budget, you aren't going to sell it.  This works both ways.  It may be as just as likely that you aren't asking them to spend enough.  Leave your biases at the door.  I've often seen agents try to sell their client $500K of insurance only because they think that's all the client will buy.

-You aren't listening.  If you find yourself talking more than you potential client, don't be surprised when they say, they'll have to think about it (typically a polite way of saying NO).  Ask the right questions.  Many of them begin with "why."  And gif your client the opportunity to tell you what they need.

-You do not have the right solution.  You may think you do, but you don't.  If you listened to your client, you understand their budget and your client understands what you are showing them and yet they don't buy it, it's because you aren't showing them the right thing.  Understanding the market and being independent is important here.  Telling your client that you are independent and explaining what means is important also.

If you are able to increase your close rate from 50% to 80% and you get more referrals, what would that mean to your home life?  If it's already great, you can have more of it because you'll need to see fewer people to make the same money or more if you prefer.  When your close rate is at 80% or above, this means that you are hearing your clients and showing them the right things for the right price and making sure they understand it.  When these things are happening, your clients will be sending you valuable referrals because they are happy with your work and they want you to succeed in helping more people like them.

We'd love to hear from you.  Tell us what your struggling with or what's working for you.