Prospecting

[KaseyNM]

So, I (think) I have a different approach to prospecting than most on the LI forum. Mostly because I have no idea what y'all are talking about when you say 'cards', talk about mailing things, surveys, etc.
I've never cold called, or went door to door. I don't intend to either.

Those options aside, what is some of the language you use when asking client for referrals / introductions?
Also, once you have a phone #, how do you introduce yourself? Do you ask said client to contact the people before you call, or just run with it?
Do you find different success rates based on those introduction factors?

 

[DHK]

Larry Tew has his method, which is modeled after Bill Cates and Wayne Cotton:

http://www.insurance-forums.net/for...w-do-you-get-referrals-t48819.html#post636167

I personally prefer Sandy Schussel's referral training. There's some slight differences in the mindset that I really like... and the cost of the training is right. (Download for $37):

Sandy’s Books/Audio « Sales Training for Financial Advisors and Attorneys, Coaching for Coaches

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The main difference, is that you don't make it about yourself as the agent/advisor.

It's not needy with "I get paid in two ways...". No one cares about your need.

It's not greedy either with "The way I grow my business is..."

You make it about making the client a hero with those that they know and care about.

You make it about the service you just did for them - the fact-finding process and experience you just gave to them.

 

[paige23]

Dhk..thank you for the tips on good training material. Sandy's looks really good and prices are good too .

 

[TwiLight]

Understand, everything we do in the sales business is a selling situation.

If you plan on generating insurance leads (prospects) by using a referral conversation, then you must first and foremost realize that your referral conversation is actually a sales presentation.

In other words, when you start asking for referrals, it immediately turns into a selling situation. It requires a 100% commitment and a strong desire, and it will probably even feel awkward at first, but once you get it, you will love it.

Here is what usually happens when agents ask for referrals.

They say something like, “Is there anybody you can refer me to?”

Well, if you ask that question, which is an open end question. Of course, most people will just say no by taking the easy way out. So where would you go from there?

To increase your income and make your life easier you need to use a process, such as, our Legacy Referred Lead Sales Presentation. It is not original, in fact, I learned a variation 30 Years ago from a MetLife Pro. Referrals are the lifeblood of a successful sales professional, not getting them, is the same as leaving money on the table you did not collect.

The first thing you must do is “Set the Stage” for getting referrals.

How do you do this? You have to prepare the prospect mentally if you want to get referrals from them.

When I started my interview process and opened up my computer or put my sales material out on the kitchen table or coffee table, I slowly slid 6 referred lead Post Cards just to the side of my material in full sight of prospect. By doing this it would allow me to transition to them at end of my presentation/interview as well as letting him/her see them. At this point, you are preparing him/her visually and mentally. It also prevents you from forgetting to ask for referrals at end of the presentation/interview!

At end of interview, whether he/she buys or not, you begin your Referred Lead Sales Presentation by saying the following:

“Mr. Prospect, I know you know a lot of people, people you work with or socialize with etc. As you probably realize, my business is about meeting new people and sharing ideas with them, like I shared with you today. Don’t you feel that you gained some insights about the financial burdens you face as a senior and the solutions we have implemented to resolve them? (or whatever market/product you’re selling)?

(Now gently slide over those 6 referral lead post cards in plain view of your customer with pen in your hand)

“Mr./Mrs. Prospect, if you were in my shoes, who would you want to go out to see and share some of the ideas I shared with you today? Who is first person that comes to mind? Who would you call to go out to dinner, play cards, golf, fish, hunt, or go to a movie? etc. (mention several activities here to help him/her).

Then shut up and let him/her think. His/her mind is now working, thinking, searching. When he/she blurbs out that first name, only write down their name on the top of card and slip the second card to the top and then say, WHO ELSE? After second name, again say WHO ELSE? And go to the next card, and again and again. (Keep some extra cards available because sometimes the spouse will start providing names or he/she will continue with other names).

After they stop giving you names, whether it’s one or seven, then come back to the body of each card and say, “Can you tell me a little about Mr. Friend, where does he work?” etc.

Why does the Legacy Referral Card System work?

What is the psychology of this process? A better question is why should you better your communication skills in this career path? Quite simply, that is Our Business. We are teachers and educators. Our job is to explain things to people. If we don’t do it clearly and Keep It Simple and Sincere, our prospects won’t buy.

The Referral Card System works because we have made it simple for the prospect.

We took a rather complex question (Who Do You Know), which encompasses the entire spectrum of people he/she knows and worked it down to only asking for one name, and helped jog his/her memory. Then we say, who else, who else etc. (one name at a time).

Most agents ask the generic "who do you know" question and this encompasses the prospects full arena of people and blurs their ability to clearly think of anyone.

That old approach will get you very few names, if any. Starting out and asking for one specific name, it keeps it simple! Think about it.

Employ this proven referral method and put it to work for you. A proven system works, but only if you work the system!
Skipper

 

[KaseyNM]

Larry Tew has his method, which is modeled after Bill Cates and Wayne Cotton:



I personally prefer Sandy Schussel's referral training. There's some slight differences in the mindset that I really like... and the cost of the training is right. (Download for $37):



----------

The main difference, is that you don't make it about yourself as the agent/advisor.

It's not needy with "I get paid in two ways...". No one cares about your need.

It's not greedy either with "The way I grow my business is..."

You make it about making the client a hero with those that they know and care about.

You make it about the service you just did for them - the fact-finding process and experience you just gave to them.

I like that you eliminated 'the way I build my business is'

I fall back on that when I feel like I haven't brought a lot of value in the first meeting. I tee them up for prospecting by mentioning it in the approach, and during the first meeting, but sometimes when I ask for the 'has this been valuable' and their answer I wishy-washy (and I sucked at my job, I realize that), I fall back on that language.

Thanks for the links!

 

[DHK]

You'll find a great correlation between Twilight's post and Sandy Schussel's training.

 

[saronzon]

good insight thanks so much.