Closing Ratios and Techniques

[backinthesaddle]

nfl72 your leads my leads anyone's get me in the house I will close 85% of time it is what it is spin that. jdeasy much respect here the only thing I do different is I write all gi plans when I run into them. I take the risk of a possible chargeback.

 

[rousemark]

nfl72 your leads my leads anyone's get me in the house I will close 85% of time it is what it is spin that. jdeasy much respect here the only thing I do different is I write all gi plans when I run into them. I take the risk of a possible chargeback.

OK, you say the purpose of this thread is to help other agents but all we have really heard from anyone is what their ratio is or they don't believe someone else is telling the truth about their ratio. This is of no real help to any one.

You say you close 85%. of your sit down interviews.. Fine. I believe you. Now, take us through your process, what is your approach, your presentation, your closing technique? What do you say and when do you say it? How do handle objections when they come up? Answers to these questions are what will help agents, new and old to possibly improve on their techniques and be on their way to achieving an 85% closing ratio.

 

[jasper99006]

" I had well over a 90% retention rate as well" Just as important then closing is the retention rate... I can close 100% of those I sit down with but I bet I have 80% cancel rate.... just saying... I can close about 75% of those I sit with and I have a 90% retention!!! I hate charge backs!!

 

[Marc_Meyers]

I would say that the actual sale is the easiest part of selling insurance.

The hardest part is finding interested people, making an appointment with them and getting into their home. If you make it this far, you have increased your chance to make a sale.

Personally, I just talk about them, show them what I'm selling and let them tell me what they want to buy. It works for me. I don't worry too much if they are going to buy. It seems to always work out to my advantage in the end -- no matter what I do.

 

[nfl72]

"You say you close 85%. of your sit down interviews.."

At first he stated he closed 85% of his face to face. Now he has to be stting down in front of them or they don't count. Being an old Combined Insurance rep, as I was as well, he should know there is a big difference.

How good you are at getting in the door is half the battle. It's what separates the Big Dogs from the pekineese. By discarding the times you fail to get in doesn't diminsh the fact that you failed.

 

[HoosierLife]

I would say that the actual sale is the easiest part of selling insurance.

The hardest part is finding interested people, making an appointment with them and getting into their home. If you make it this far, you have increased your chance to make a sale.

Personally, I just talk about them, show them what I'm selling and let them tell me what they want to buy. It works for me. I don't worry too much if they are going to buy. It seems to always work out to my advantage in the end -- no matter what I do.

Marc's right. Getting in the door is the hardest part of this job. If folks have any need whatsoever, and any money, I can close 75% of them.

The hard part is getting the appointment to stick and/or getting in the door.

Funny thing, the easiest sales for me are the folks that I have to call 15 times to set an appointment. Once the appointment is finally set, its almost a guaranteed close.

A lot of the FE pros only take the low hanging fruit and trash the rest. Which is fine, they can afford to. I would suggest to any newbies out there, that you work a lead to death, like until they threaten to call the cops for harassment.

 

[profithuner]

I use a very simple formula to calculate my closing ratio. the only two factors that you cannot shuffle around, are the number of leads you get for example 25 and how many of those leads did you turn into a sale. I don't count the number of apps, that will skew the results. it is not uncommon to close more couples in one month, only because you saw more, then the following month when you see more single people. if you only count the number of leads you got and the number of leads you closed, that will give you a true closing ratio. if you follow that month to month you will see that your closing ratio will be pretty consistent.

 

[rousemark]

I use a very simple formula to calculate my closing ratio. the only two factors that you cannot shuffle around, are the number of leads you get for example 25 and how many of those leads did you turn into a sale. I don't count the number of apps, that will skew the results. it is not uncommon to close more couples in one month, only because you saw more, then the following month when you see more single people. if you only count the number of leads you got and the number of leads you closed, that will give you a true closing ratio. if you follow that month to month you will see that your closing ratio will be pretty consistent.

I agree that if you sell both the husband and wife in the same interview that only counts as one sale even though there are two apps.

 

[profithuner]

in all fairness, if you're going to count a husband and wife as two sales, you would also have to be able to count a husband and wife as two no sales!

 

[xrac]

in all fairness, if you're going to count a husband and wife as two sales, you would also have to be able to count a husband and wife as two no sales!

Sounds right to me.