Hitting the smaller business for life apps.

[SME]

Re: Hitting the smaller business for life aps.

What you are attempting is my favorite way to get new customers. But your approach is a little rough for my taste.

No one likes to talk about life insurance. No one. If you open with life insurance you'll be thrown out. Instead start with thier business insurance, or auto, or individual health and then move into life insurance. If you try your approach I think that you will be disappointed very quickly.

To me it sounds like your biggest hurtle is yourself. You have to believe that life insurance is worth the money. If you don't your client won't. People can tell when something is just about the sale and not about them. Empathy is the key to establishing the need and the value of life insurance. Also don't sell out of your own pocket. Remember that just because the premium is huge to you doesn't mean that it is huge to them.

And RELAX!!!

Clients can tell when you are anxious. If you are writing alot of p&c then the life should be to hard to get. Remember to ask everytime you write and auto, don't say "would you like some life insurance" ask " As your agent I feel that it is my responsibility to make sure that your family is taken care of, do you mind telling me about your estate planning? Do you have a will? Have you decided about guardianship of your children, or set up a trust? Have you listed the trust as the beneficiary of your life insurance policy?" Now I have asked several questions that have made them think not about thier mortality but about taking care of thier kids. (talking about trusts makes people think that they will live to be old and wealthy, I'm not sure why)
Hope this really long post helps

 

[Agent5913]

Re: Hitting the smaller business for life aps.

Your not selling anything?

Your method has been played out for 70 years and it is a rough gig... Good luck, eventually you will burn out and realize the results are difficult to obtain. At least statistically...

Well, Ok then, what do you suggest TX? What avenues can I explore to get my beloved 3-4 paid aps a month? Again, just trying to find something.

Thanks,
Merry Christmas

 

[Crabcake Johnny]

Re: Hitting the smaller business for life aps.

Nothing wrong with walking into businesses. It works. You simply need to be fast and honest. Small biz owners don't have time for BS or some long presentation.

I've done a ton of B to B as an exclusive source of leads and still do for supplemental. I hit shopping strips all the time when I'm out and about. I have a nice flyer I hand the owner and give 'em about 30 seconds on what I can do for them.

I only do health. I don't believe there's much interest in life going B to B but then again, I've never tried other products.

If I switched to the small group health market I'd only go B to B as my sole source of leads. Pounding the phones and trying to get through the gatekeeper is a huge waste of time.

 

[djs]

Re: Hitting the smaller business for life aps.

Well, Ok then, what do you suggest TX? What avenues can I explore to get my beloved 3-4 paid aps a month? Again, just trying to find something.

Thanks,
Merry Christmas

I think you somewhat missed the point here. In your original pitch, you say your not selling anything, when in fact you are. If nothing else, you are selling yourself, never forget that. Don't apologize for it. Be proud of it.

If you are doing individual, the lunch and learns are a great thing. Business owners probably won't object if you are providing a free lunch for his crew, and giving a 10 minute spiel during the free lunch. Just make sure he doesn't try to have a business meeting during your free lunch time.

Confidence is key. I had a kick in the face that reminded me of this the other day. I was selling an auto policy, and I have a whole routine I usually go through when I get a referral from a dealer. I usually know within 2 minutes what I'm looking at rate wise, but I always give them a normal quote, with what they tell me, and then proceed to get them a better rate (I work for them, they need to see this). In this particular case, I already knew the guy had an opportunity to save some significant money, but when I showed the first quote, he asked for the downpayment, and I hesitated, simply because nobody ever asks that question. He interpreted it as a lack of confidence, I interpreted it as he was trying to hide stuff from me. I got him a much better rate in the end, but it was a stumble.

Confidence isn't what you think, it's how the prospect perceives you. Is also not coming off 'cockey' which a lot of people try to do thinking they are confident. This tends to turn people off.

In your case, simply be more honest up front, have a strong answer for the question of 'whats in it for me' and move on. Early in this game, you tend to interpret that question as 'how much are you going to pay me', but its usually simply the business owner wants to make sure your not wasting his payroll $$$$. If you do it during a free lunch, and it's a good value for his employees, he'll probably be fine with it.

Dan

 

[Crabcake Johnny]

Re: Hitting the smaller business for life aps.

I'd be careful of lunch and learn. It'll probably work so be prepared to break out your Visa.

Also remember that you can feed the employees all you want. You still don't have a deal until the owner agrees.

 

[James]

Re: Hitting the smaller business for life aps.

Frank and the "Never Cold Call Again" mantra is a little hard to take at times. Now I'm not debating on positioning oneself but, how exactly does he propose to get that initial appointment? 80% close ratio, on the other hand cold calling equals zero, he states clearly that cold calling no longer works and should not be done. It works for me and many others but, that is not the point. So, he says you can achieve 80% close ratio with his system. Exactly how does he get appointments for Insurance Sales People initially to get to that 80% close ratio?

Remember, you can not cold call or walk, exactly how is an agent to get appointments? Buy internet leads? Ad Placement? DM? COI? Whatever the case may be, cost can be significant and time, esp. for a new agent in the field.

A lot of what he states makes perfect sense, yet I never brought his materials. While I'm on the "Never Cold Call Again" mailing list and they send out a lot of emails! I've yet to come across how he would suggest on making appointments for a new person or a person first adopting his system. I guess I'll never know, oh well I'm comforted in the fact that if I make twenty cold calls I'll get one appointment most of the time if not an additional appointment that I then can take refuge on how important it is to position myself in a power role.

Hope everyone had a great Christmas, everyone asleep now except for me, oh the quiet, and the beer is good!

 

[somarco]

Re: Hitting the smaller business for life aps.

I too am on Frank's list, and Dean Cipriano (how does anyone get off that list?), and Lew Nason and a few more. I finally got off Larry Klein's list when he went bankrupt. Most of what they have to say is hype, but there are some tidbits.

Frank's new book, "Selling Sucks", has already made me aware of some things I need to do differently, or at the least, give them a try and see what happens.

 

[Agent5913]

Re: Hitting the smaller business for life aps.

Thanks for all of the help. I just feel that sitting in my office and calling people out of my Book of business may not yield three paid aps a month. Then again, Im new and dont really know. Ill keep digging.

 

[James]

Re: Hitting the smaller business for life aps.

I too am on Frank's list, and Dean Cipriano (how does anyone get off that list?), and Lew Nason and a few more. I finally got off Larry Klein's list when he went bankrupt. Most of what they have to say is hype, but there are some tidbits.

Frank's new book, "Selling Sucks", has already made me aware of some things I need to do differently, or at the least, give them a try and see what happens.

I agree, Frank has some gems from what I see. Yet, there is no way to get off of Dean's list unless you end your email account. If you request to be take off the list, that only goes down as a reply and you get more mail! He has started sending out envelopes, thick ones, costing him at least around a dollar too mail out. When I get them I smile as I throw them in the trash can unopen! Maybe if we got enough agents to act interested we can bankrupt him in mailer cost if no one responds but keeps acting interested?

 

[James]

Re: Hitting the smaller business for life aps.

Thanks for all of the help. I just feel that sitting in my office and calling people out of my Book of business may not yield three paid aps a month. Then again, Im new and dont really know. Ill keep digging.

I'm still dumbfounded as to what exactly you are selling? Why not just sell the owners first then move onto the employees? From my experience owners are in more need then their employees for life insurance.