Closing Techniques

[James]

What makes today "No Closing" work, is the simple fact you close before you start! As in a key question, "If I can meet your needs will you purchase?" placed infront of the sales process. The close isn't being done away with, it is being reposition. Obviously, some rightly say it looses deals but, you save time to prospect for more sales. Doing life, I do mainly a two step process, at the end of the first meeting usually short in time, the question is ask, "Okay (go over the details), so these are your needs and, this is the amount you are willing to spend, if I meet the needs for this cost you will purchase?"

 

[Crabcake Johnny]

Well, there are closing techniques - which to me are ways to handle objections but there's also the sales process. This is where reading books or attending formal sales training comes in handy and where people coming out of corporate America into this job struggle a bit.

Two sentences:
"I can save you $120 per month...."
"You can save $120 per month...."

The first is about you, the second is about your client.

Some people "assume the close" but the entire presentation should be assumptive."

"After you choose a plan I can take care of the application process in 10 minutes." (that's not a close - that should be said during your 1st conversation)

"Once your application is submitted the approval process only takes 1 to 3 days."

Have a conversation about what your client doesn't like about their current situation:

Wrong way:
Client: "I'm paying $720 for our family."
You: "Ok then, I can definitely save you "X" amount per month."

Right way:
Client: "I'm paying $720 for our family."
You: "You're paying how much?"

Client: "Um, $720."
You: "You mean quarterly."

Client: "No, that's monthly."
You: "Wow - how did it get so incredibly high?"

Client: "I don't know but that's the problem with health insurance, it's just so expensive."
You: "We'll you're not doing anything wrong, you just don't know what's available..."

 

[Chkndinner14]

Two sentences:
"I can save you $120 per month...."
"You can save $120 per month...."
quote]


I like the "tell me what you would do with an extra $120 month in your pocket" When they say "buy life insurance" (never happened in 13 years) you are the man.

 

[Delta76]

I also close before showing the options, just have a little different way of getting there. Bottom line, feel the person out. Before you show them the options, tell them the process: "we put in an app, get a firm offer, then either accept or decline the offer. If we can find the savings to make it worth your time, are you willing to put in an application?"

If you sense they're waffling, call them on it:
"Mr. Prospect, I get the feeling this isn't a big enough concern to put in an application, is that a fair statement?"
Whatever they say next will be the truth and you will know exactly where you stand.

 

[Agent5913]

My only problem is life objections. They have it at work and they cant take it with them if they leave or get the axe. When they say that, they think their IQ goes up 400 points and I am trying to rob them. Thats my only problem.

 

[Newby]

I need advice on closing the sale. I'm getting the work done and seeing a lot of people, but I think my closing techniques are lacking. Any good closing techniques you guy are using that you would like to share?

Only 3-closes I ever use if I need a close. They come so natural that I don't think of them as closes.

1. Ask them to make a decision. "It's decision time. I believe from what we discussed this is just what you're needing. Should I finalize the paperwork?"

2. Assumptive close. "So that's all there is to it. I just need the initial payment of $238 and your signature in two places.

3. Get them to talk about what they're thinking (if they are stalling.) We want to think it over. "That's fine...but let me ask you one question and please be honest. What do you like about it and what do you not like about it?"

 

[Crabcake Johnny]

For me I always give people a choice between two carriers - not just the plans of one carrier. People like to buy but don't like to be sold. They feel like they're buying if they can choose from 1 of 2 companies but I think (just my theory) that they feel like they're being sold if only one company is shown.

I love pitting GR against Assurant. For people with no pre-ex condition they have a frame of reference. GRs rates are great but how are they supposed to know that? Rates are only low if someone else's are higher.

Now for pre-ex GR riders and Assurant doesn't however as we all know the rate is higher. Do I really care if they pick GR with the rider or Assurant's higher rate? I could care less - that's their choice:

"Ok Joe, as you can see the Golden Rule Copay Select is $345 but will exclude your condition and medication or you can go with Assurant's Max Plan at $460 but your condition and meds will be covered."

Then it's about 50/50 from that point as to which way they go. In most situations that client is already paying $580 (example of course) so they're saving money either way. I rarely get to the quote state with anyone unless I've saving them at least 20%.

This way I don't have to "sell" a GR rider or "sell" Assurant's higher rate.

 

[insuremojo]

If you do it properly you don't have to "sell" the plan because the plan should be meeting the needs of the client and therefore sell itself. Remember, you should be making notes of the clients needs and concerns and all you have to do is explain and advise how the plan that you're pitching will help meet those needs.

As far as presenting 2 plans at a time I wouldn't recommend it because in my opinion you could be giving them too much info and you could run more into "I need to think about it"....and rightly so because giving too many options sometimes just muddies things up. I'm talking from experience because I used to recommond 2-3 different plans and let the client make the choice...guess what happended more and more often? The client had to think about it because I was giving too many choices. Once I cut the options down to one and explained how this plan would meet their needs my closing ratio went way up.

Either way you do it, remember, it has to meet the clients needs and how do you know what the needs are? You listen more than you talk.

 

[moonlightandmargaritas]

"A good deal sells itself."
- H. Ross Perot

 

[Crabcake Johnny]

I find that most agents who are having problems "closing" are getting low lead volume. If you're not getting at least 50 leads a week you'll likely be scratching your head wondering why nothing is working.