Closing Ratios and Techniques

[xrac]

When I was in the field I would close over 90% of those I was able to sit in front of. It was a real downer when I didn't sell something.

The difference here though, I was approaching with Med Supps and cross-sold FE, LTC, and Annuities. I was more than a one-trick pony.

I wasn't pushy at all. I had well over a 90% retention rate as well. I assumed the sale.

The only reason I'm posting this is just to say that it is possible.

Todd,

With that kind of success why did you leave the field?
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Guys really? I make my living as an insurance agent. I have been doing this since 1986 where I started with combined Ins. co. Am I a pushy sales rep? You better believe I can be if it's necessary. When I leave my house it's to make a living, to make sales. I am after all these years a commissioned salesperson. In the course of my work I help people make the decision to get life coverage that is needed to pay funeral and outstanding bills left behind to they're loved ones. I walk in the door looking for buying signs and using the abc's of sales. Always be closing. That is my profession. When you walk out of a house scratching your head why that lay down sale fell thru well maybe you didn't close or you talked the sale to death. Persistency for me is about 82% for 12 months that drops to about 75% after 36 months. I'm sure that other peoples ratios are better, but if you want to leave the house with a sale which is our job by the way sometimes I can close very hard. I have no bad feelings doing this. I have delivered numerous claim checks and never got called out for being to pushy, but I have been thanked and referred to friends and family. Back to techniques I try to work small town USA. I will drive up to 2 hours to work but it is well worth the gas money. Lead wise I use dm new and old leads. I do not cold call with a list. All referrals are called by my clients with me there coaching them. Good luck and good selling. Hit'em high hit'em low take their check and go go go!

I have heard that Combined with teach you how to sell!

 

[usakr]

If you go to a house to recite a script and close then chargebacks will be a major issue.
However, if you go and help people solve problems you won't get too many chargebacks. Almost none.

 

[nfl72]

I guess its all a question of what you consider a face to face is.

If you cold knock on the door from a dm lead and the guy says not interested and slams the door, is that a f2f? I believe it is and should count as one. You literaly looked him in the eye and he won. You did not sell him. Just maybe the next guy said something totally off the wall and got in, sat down and closed him. Just because you weren't good enough to get in doesn't mean you shouldn't count him as a f2f. Do you get a refund on the lead cost because you dropped the ball? Hell no.

If you banter back and forth for several minutes and he still won't let you in the door is that a f2f? You had a chance to get in, you just didin't get in. If you would have said the right things you just might have gotten in, sat sown and wrote him up. But because you got weak, you will never know. He may have had a great need. You certainly don't get a free pass because you weren't able to find out.

If you sit down and discover he has no money, no bank account and is basicly indigent, is that a face to face.? In my book it is.

If you sit down with him and he pulls out a policy that you can not beat is that a face to face? In my book it is. Just becaue I was too weak to sell him some more doesn't mean I don't have to count him as a failure.

When I try and determine how I am doing I don't consider f2f all that much. Whats more important to me is how I do out of a batch of 25 leads. If I get 25 leads and close 85% of my f2f that might sound all good but what if I only get 5 f2f out of the 25?

What if I was so weak at the door I couldn't even get a f2f? My way of thinking is this. If i go to a house unnanounced on a dm lead and don't get in I consider that my fault. I dropped the ball and didn't even get in the door. I don't get a freebie and don't count him because I got weak. Usually on the way back to my car I am kicking my self in the ass cuz I got weak. I didn't say the proper things, in the right voice and dropped the ball. He won and I lost.

Bottom line for me is how many do I sell out of the batch of 25. I sell 75 to 85% of my appoaintments but they are are screened, scrubbed and qualified before I book them most of the time.

If I write 5 that was bad, if I write 8, I can live with that. More than 8 and I am a happy camper. Sometimes you get a bad batch, sometimes you just get weak.

 

[slushpuppyking]

nfl when he can't get in the door:

 

[WCMason]

He won and I lost.

So when you make the sale you win and he loses.

Sent from my iPad using InsForums

 

[Todd King]

Todd,

With that kind of success why did you leave the field?QUOTE]

I have a tendency to get burnt out in the field. Don't get me wrong, I like it in the field, but I get lazy after about 6 months. This is not a good thing!

With what I do now I don't have the opportunity to get lazy!

 

[nfl72]

lol i watched about 45 minutes of that movie today. for about the 25th time!!!

the best part is when he hits Napolean in the head with a steak!!!

 

[deadhead]

When I canvass and strike up conversations in stores and parking lots and actually get the person to say yes come over I close over 90%. The caveat is that when I am talking to them I am pitching and closing on the spot. I am pretty much going to the house to get the money and fill out the app.

 

[slushpuppyking]

lol i watched about 45 minutes of that movie today. for about the 25th time!!!

the best part is when he hits Napolean in the head with a steak!!!

His ability to perform THAT dance in front of his graduating class gives me the inspiration to knock on doors

 

[rousemark]

So deep and profound but simple.

Are you saying Rearden is simple minded?