Close Does Not Count

[sellingdog]

I had a guy today that is 60 retired recently. I did my warm up, which I usually spend too much time on (20+ minutes). I do a conversational presentation (w/o pulling out my flipchart) going through the 3 question presentation, and he tells me he has nothing in place...

I usually go through the health questions w/o the ap. out to see if he is qualified for coverage, he takes 60+ c.c. insuline, so I know he is good with Monumental.

I get the sense he is shopping prices, (I covered term and graded with the usual supects of AARP etc.) He knows the difference.

I take the initiative and start filling out the application.... only to hear he is just gathering information and prices. I bit and gave him a quote (last call of the day).

My question is, should I have asked him, "I can put some numbers together for you, but are you ready to make a decison today?"

I realize that some people are shoppers, but I felt that there was something more that I could have done to get him covereved. I get P.O. 'd at myself when I have someone with a need that I don't take care of, + close does not pay my mortgage.

THX SD

 

[Justin Bilyj]

Some will be shoppers. What kind of flipchart are you talking about?
I know most people will need fe for three reasons, did you find out why he needs it? If he's shopping, did you ask what companies or premiums he has found so far? What he liked about what he has seen so far and what he doesn't like?
Usually the unhealthy ones will shop the longest, they feel that just because they have a condition, they shouldn't have to pay such a high premium, and hold out for greener pastures.
Do you represent other companies?
I personally go to Ritter insurance and compare prices on their quote engine and show the client as well (that takes away the shopping excuse and maybe gets to a deeper excuse; trust, money), maybe if you showed him which company stacks up the best, and then go down the list showing what premium he qualifies for each company depending on the underwriting.
Maybe he didn't feel you truly cared about his situation (not sure what type of questions or how many you asked him).

 

[jdeasy]

I had a guy today that is 60 retired recently. I did my warm up, which I usually spend too much time on (20+ minutes). I do a conversational presentation (w/o pulling out my flipchart) going through the 3 question presentation, and he tells me he has nothing in place...

I usually go through the health questions w/o the ap. out to see if he is qualified for coverage, he takes 60+ c.c. insuline, so I know he is good with Monumental.

I get the sense he is shopping prices, (I covered term and graded with the usual supects of AARP etc.) He knows the difference.

I take the initiative and start filling out the application.... only to hear he is just gathering information and prices. I bit and gave him a quote (last call of the day).

My question is, should I have asked him, "I can put some numbers together for you, but are you ready to make a decison today?"

I realize that some people are shoppers, but I felt that there was something more that I could have done to get him covereved. I get P.O. 'd at myself when I have someone with a need that I don't take care of, + close does not pay my mortgage.

THX SD

It's always hard to second guess when we weren't there. Maybe no one could have closed him?

You certainly could do better pricewise than Monumental. I don't get many objections like that, so I'm probably not of help on those. No one can close every deal. I would say to just move on and handle the next one.

 

[rousemark]

It would seem you took a casual attitude towards the interview instead of giving a full fledged presentation. I would assume the flip chart is designed to emphasize the need and to create urgency. You can't drive many nails if you don't take the hammer out of your tool pouch.

 

[billyg]

I had a guy today that is 60 retired recently. I did my warm up, which I usually spend too much time on (20+ minutes). I do a conversational presentation (w/o pulling out my flipchart) going through the 3 question presentation, and he tells me he has nothing in place...

I usually go through the health questions w/o the ap. out to see if he is qualified for coverage, he takes 60+ c.c. insuline, so I know he is good with Monumental.

I get the sense he is shopping prices, (I covered term and graded with the usual supects of AARP etc.) He knows the difference.

I take the initiative and start filling out the application.... only to hear he is just gathering information and prices. I bit and gave him a quote (last call of the day).

My question is, should I have asked him, "I can put some numbers together for you, but are you ready to make a decison today?"

I realize that some people are shoppers, but I felt that there was something more that I could have done to get him covereved. I get P.O. 'd at myself when I have someone with a need that I don't take care of, + close does not pay my mortgage.

THX SD

You can do better than Monumental on price. Foresters comes to mind for insulin.

He could be shopping price, in which case you will likely lose. Or he could just be kickin' tires.

 

[Rearden]

SD -- you should have qualified him on what he meant.

"I can appreciate that, Mr. Jones. But how do you mean that?"

The bite your lip and wait for him to say something.

You need to establish (or re-establish) that there actually IS a need. And he needs to identify it himself in his own words.

If he doesn't give you any bait, then you need to be more direct with him and start calling out the potential objections, ie, price, coverage, etc. In a respectful way, of course.

The only other thing I could think of was that you didn't allow him to identify whether or not there is a need. You know, the "Devil's Advocate" approach I use.

You should have also looked at other carriers, too -- Monu is higher for insulin-dependent diabetics that others (AmAm, Foresters, RNA).

Bottom line, we all have people like that that we should close but for some reason we can't. Just make sure you go through all the appropriate steps to identify as much as you possibly can if there's a sale in there. Then you can walk away "happy."

 

[0b1kanobee]

I get the sense he is shopping prices, (I covered term and graded with the usual supects of AARP etc.) He knows the difference.

IMO somewhere here is when you screwed up. You did most of the talking or educating and he did most of the agreeing with you about different insurance products ("he already knows"). You picked up on a real key piece or two of information and you decided to educate on product when you should of also went for a commitment or went down that road with him.

If he is shopping and you know/suspect this and you show him you are the best store in town, that you can get him the best premium for his dollar, then him just needing to continue to shop or think about it IMO is not the real objection. The objection is he hasn't been sold. He either doesn't see value somewhere and definitely no sense of urgency. You have to build that. That's your/our job.

The best closers in any business can't come to your table and close a guy who hasn't been through a proper presentation which includes building all the parts.

It was at that point you could have emphasized him "seeing the value today" and letting him know once you shop this with him or in the end (however you want to word it) you are going to ask him to "give it a try" or however you chose to word that.

Also make sure you stop through various parts of the sales process and if you write on paper perhaps, draw a big line under what you just covered with him/her/prospect and ask "do you understand everything up to this point"? If they say no, then you need to go back or explain what you just told them depending on what they don't understand.

Just to be fair, like everyone else said, you won't sell everybody. However you can increase your ratio so it's always good to get feedback and also to be fair, I wasn't there and I'm much better at critiquing someone. Sounds like you did a lot of other things right and props for starting to fill out the application.

 

[sellingdog]

Thanks for all who replied, I knew I could get some good critiques, and actually printed them out early this morning before setting out on my calls. I always try to keep in mind that telling is not selling, but sometimes in the heat of the moment… I can tell a good story.

I try to utilize J.D.'s approach to find out why they sent the lead in, which I am getting better at.
I use Tim W's presentation (3 questions on how to handle you FE), this is incorporated into a longer presentation / flipchart which I sometimes use depending on the situation.
I worked hard today on establishing the need (3 no needs 1 said she raised her children, now it's their turn to take care of me J 2 uninsurable , terribly sick) two door knock that scheduled for Monday.
I have contracted with 3 carriers, but realize that I definitely need Foresters and RNA in order to be competitive, and am working on that.

In college I learned to write YOU letters and never start off with "I" I guess I flunked that class. J

Thanks again SD

 

[rousemark]

SD: You have the #1 requirement of what it takes to succeed. A willingness to listen , to learn and put what you learn to use. A lot of folks never develop that trait. The answers and suggestions you get from folks may not always work for you but you will never know if you never try them. Good luck and congrats on becoming a top producer.

 

[FEX Quotes]

At the risk of a shameless plug, if he were in fact a price shopper this is where a comparative price analysis could have helped. I would have put the iPad in in front of him and showed him all 30 companies and went from there..