Common Presentation Mistakes

[davisgroup]

Still new to FE, I picked up some good pointers from Rearden's thread on newbie mistakes. It made me think of mistakes that newbies (me for instance) make doing home presentations. My question: for those who have trained FE agents, are there any common mistakes that you have identified that newbies exhibit when doing F2F presentations?

 

[jdeasy]

Still new to FE, I picked up some good pointers from Rearden's thread on newbie mistakes. It made me think of mistakes that newbies (me for instance) make doing home presentations. My question: for those who have trained FE agents, are there any common mistakes that you have identified that newbies exhibit when doing F2F presentations?

Biggest mistake any agent makes, new or old, is not establishing why you are there upfront.

If you don't establish that then you will end up making presentations to uninterested people.

Another mistake is proceeding into a presentation before gaining some measure of trust. Without the trust they will not open up to let you solve the problem. They will not get out their current policies for you to review if they don't trust you. If you get to the end they will not get their banking info if they don't trust you.

In short, find out why they have you in their home and then develop some way to gain trust in a few minutes. Failing these things will short circuit the very best presentations out there.

 

[davisgroup]

Biggest mistake any agent makes, new or old, is not establishing why you are there upfront.

If you don't establish that then you will end up making presentations to uninterested people.

Another mistake is proceeding into a presentation before gaining some measure of trust. Without the trust they will not open up to let you solve the problem. They will not get out their current policies for you to review if they don't trust you. If you get to the end they will not get their banking info if they don't trust you.

In short, find out why they have you in their home and then develop some way to gain trust in a few minutes. Failing these things will short circuit the very best presentations out there.

Thank you for that reply. That is an excellent observation and it resonates with me. Can you share any tips on what to say, or not what to say, to establish that trust in the first few minutes?

 

[WinoBlues]

Not shutting up. Talking to much.
Not asking for the sale. All presentation and no close.

 

[jdeasy]

Thank you for that reply. That is an excellent observation and it resonates with me. Can you share any tips on what to say, or not what to say, to establish that trust in the first few minutes?

No, that's one of those "6th sense" type of things. That's about your warmup. Tim W calls it a "commercial on himself". Another top producer I know calls it "getting their walls down".

That process is going to be as different as each agent is different. I tell my story about how I got into this business and how I do business. Someone else could not tell my story.

The longer I'm in this business the less time it takes to get their walls down. You also develop that sense of when those walls are down. You just know when to proceed and when not to. That just comes with time and experience.

There are some people you just cannot connect with. You can tell that they don't like you, don't trust you and there is nothing you can do about. It's rare when that happens to me anymore but if I can't get their walls down then I do not do a presentation to that person.

But I don't do a presentation to anyone until I see the signs. That determines the length of my warm up. Most times it's 5 to 10 minutes. Sometimes it's 20 minutes. There was a time when most all took close to 20 minutes. Now it's mostly closer to 5 minutes.

 

[SportsNut]

Can you share any tips on what to say, or not what to say, to establish that trust in the first few minutes?

More often than not trust is NOT established in the matter of the first few minutes... with some folks it may take 15 mins, others it may take an hour. But proceeding with any info before you have obtained trust and a level of interest from them is futile. I like to wait until they are forcing the issue... they are asking me to proceed... more or less, yes they want it (insurance) but what is it going to cost them? This happens after we have talked about who is handling their affairs and why? Then it is merely a matter of tailoring the coverage to their budget... By then, after sitting with them for a 1/2 hr, or maybe even an hour, you've got a pretty good idea (w/o ever asking) what they are planning for a budget.

Lets say they have requested 10K of coverage... and we are at the point where they have demonstrated that they indeed do want the coverage and we know who is going to be beneficiary (at least which one of their kids or whoever is handling their final affairs, and why), I might ask them... How much do you think that this coverage will cost? "Oh... I don't know..." They have an idea in mind and sometimes they are pretty close, and I love it when they are even high when they guess... those are usually fairly easy to get done... I don't play that game with everyone of them but some, depending on the rapport that we have.

Then I present them three scenarios... 7.5K-10K-12K or 4K-6K-8K... (depending on what they have said they want) along with the monthly premium for each coverage... then lay that down in front of them... and just SHUT UP. They will look at it, touch it, fondle it... sometimes ask some questions... and usually tell you which one works best for them. Sometimes I have already filled out part of the app, depending if they have a concern of qualifying... how I usually determine that is... I just tell them I will go over the health questions with them... and as they answer NO, I then record their answer. Pretty simple, don't be afraid to write on an application in front of them, even before they have said they will take it, or you have determined how much they want or can afford... worse case you can always just shread that app, right?

Most of these people want insurance it is merely a matter of determining what they can afford, getting them qualified, letting them know that you will be around if they ever need you (not a hit and run sales job). After completing the paperwork... and all is done, I then take some time to review with them exactly what they are getting; (guaranteed prem, coverage never decrease, can't be cancelled, no chgs or surprises, etc - their only part is to pay the monthly prem)... then ask them how they feel about their decision today? (tie them down... yes, they feel good about it) then compliment them on making such an important decision and taking the steps that they have today... It is a BIG deal for most of these people to get this monkey off their backs... and you are in a way, the 'monkey slayer'.

Presentation... of sorts. More of a conversation to help them find a way to get what they want, within a budget that they can afford.... simple as that. But, you can't go in there with the idea that you'd rather be doing something else at the moment because that will show up right away. You can't go in there with the idea that I will be out the door in 45 mins or less, because that will show up too. Take as much time as THEY NEED... it is ALL about them; period, end of story!

Occassionally you run across tire kickers... those that aren't sincere about taking care of their needs. Do one of two things there; take the time to practice your presentation... or if you've got other places to go then get out the door and onto something more productive. You learn pretty quickly how to tell the difference.

I'd better get out the door now and see if I can remember what I wrote above and how to apply it, and see if this stuff really works...

 

[davisgroup]

"Not going forward until the walls are down". Excellent advice! Thanks for the feedback.

 

[glock32]

As you get experience you will be able to start the close as soon as you sit down. I naturally proceed as if client will buy. A wise insurance man ask me many years ago. Are you a CLOSER. The more I thought about this the more I was able to close more sales. After 25 years it works. All this takes time but the fact that you have an appt is a sign the client is interested even if I hear the word no I still try another close. There will be some people you see that you will know within 5 min that there is no way this client will buy. Just takes experience. Good luck

 

[jdeasy]

As you get experience you will be able to start the close as soon as you sit down. I naturally proceed as if client will buy. A wise insurance man ask me many years ago. Are you a CLOSER. The more I thought about this the more I was able to close more sales. After 25 years it works. All this takes time but the fact that you have an appt is a sign the client is interested even if I hear the word no I still try another close. There will be some people you see that you will know within 5 min that there is no way this client will buy. Just takes experience. Good luck

Someone asked me what my "first closing statement is". My reply was "hello".

You are closing, {or not}, from the start. Appearance first then words and demeanor. You are right that it gets easier with time. I don't feel like I'm doing anything different but the prospects warm up faster to me than they ever did in the past.

 

[glock32]

If the customer likes you and trust you then you have an excellent chance of walking out with an app. Don't forget to ask for referrals. The worse that could happen is no. The best another sale for you. Another thing I learned. If you go to a meeting try and sit next to a good agent. You will learn a lot. I remember one very successful agent told me about LTC insurance. He said don't try and tell them everything because they will be so confused and never buy.