How to figure out if your prospect is qualified in 3 minutes or less

Jun 12, 2019

  1. Rearden
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    Rearden Guru

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    Here's my 2-step on how to figure out if your prospect is HIGHLY QUALIFIED in 3 minutes or less...



    1) Truncate rapport-building

    As an experienced final expense agent, I've discovered that too MUCH rapport building is unnecessary.

    While you should work to get your prospect to know, like, and trust you, it should NOT take you 10 minutes or longer to do so.

    Your goal is to become FRIENDLY with the client, not necessarily friends. There is a diminishing return on your time spent building rapport after establishing "friendliness."

    How to establish friendliness?

    Get your prospect to laugh! Look for body language cues that show relaxation. Arms uncrossed, relaxed face, smiling. Those are positive cues to move onto business.

    2) Ask this most critical pre-qualification ASAP

    In final expense, I genuinely want to know why my leads do what they do.

    Why after YEARS of seeing final expense ads are they now responding to mine?

    The fact that our population of "world class procrastinators" (hat-tip John Dugger =) are finally TAKING ACTION can NOT be underestimated.

    And that's why I ask this most CRITICAL question to determining if my lead is qualified or not...

    "What were your thoughts and concerns when you sent in the card?"

    This is the most POWERFUL question you can ask to determine the level of conviction and interest your lead has in buying final expense.

    The more detailed, coherent, and in-depth the lead's answer, the better odds your client will buy.
     
    Rearden, Jun 12, 2019
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  2. somarco
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    somarco GA Medicare Expert

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    5 star question.

    If you are F2F and failed to qualify on the phone before showing up, the question could be "Why am I here?". Rephrase to make it less confrontational but that is the essence of the question.
     
    somarco, Jun 12, 2019
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  3. DayTimer
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    DayTimer Guru

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    I have found that leaving it too open-ended can often lead to the unsatisfying and not terribly useful "I don't know what it is and wanted to find out." I feel I accomplish the same thing and yet have better control over the appointment if I follow @jdeasy and use the now famous "three reasons," ... "Folks send these cards in for one of three reasons ... which of those best describes you?"
     
    DayTimer, Jun 12, 2019
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  4. Rearden
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    Rearden Guru

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    Glad you mentioned that. When someone bloviates on answering the question, I follow up with John's "3-Question" routine. Helps keep things on track.
     
    Rearden, Jun 12, 2019
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  5. KRobby
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    KRobby Guru

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    Prior to assessing their initial level of interest and uncovering their need, do you slip em a value statement(s) showing what makes Duford & co different, in hopes for a more thorough and accurate answer? Or do you prefer to save it, focus on them, and use your differentiating statements as a silky smooth transition in relation to their reason?
     
    KRobby, Jun 12, 2019
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  6. Rearden
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    It depends. I typically go into a line of pre-qualifying questioning right away, then circle back and do a value statement, explaining who I am, what I do, and how my work is different from what other agents do. Then transition to health pre-qualifying.
     
    Rearden, Jun 12, 2019
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  7. somarco
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    somarco GA Medicare Expert

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    Makes sense.

    Why give the "This is why you should hire me as your agent" before you know if they are a qualified prospect? Just wasting your time and theirs.

    I qualify folks in the first 5 minutes or so.

    Why do they want to talk to me?

    How long have they been looking?

    Why haven't they bought something yet?

    What is their budget?

    Can they qualify medically?


    If any of these lead to a DQ I move on to the next suspect.
     
    somarco, Jun 12, 2019
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  8. DonP
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    DonP Expert

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    I've door knocked around 30 leads the past few weeks and not one person i talked to remembered directly sending the card in. Yes they all admitted it was their handwriting but not one said" Oh yeah i remember sending that in". That leads me to believe many of these people send in 5 or more cards a month and 90% think its something free.As for why haven't they bought something yet? In Fe many have had 5 or more policy's the last 10 yrs and lapsed them all. The only question is will you be selling #6?There's zero loyalty with most Fe clients.
     
    DonP, Jun 13, 2019
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  9. goillini52
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    goillini52 KeepAmericaGreat...Eat Bacon & BUILD THAT WALL!!!

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    You know the old saying..."the 6th time's the charm". :yes:
     
  10. somarco
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    somarco GA Medicare Expert

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    Sounds like an easy sale. Take the app before the rent comes due.
     
    somarco, Jun 13, 2019
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