I would ask how long they have had it cause rates have lowered recently (but will go up), and I ask them if I can save them $3,000 or more on the life of their policy, would they be interested...
Telemarketing Objections
- Thread starter Sooner-Insurance
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I have this book. It is a very good book. I recommend it.
- 11,997
The other thing to consider is that some people will be interested in talking to you. Right now the script we're using for my pet project basically says "Do you want to buy insurance" and if they say no then we can't disconnect the call fast enough and on to the next. I've got one agent that should easily clear $350k in group health premium (probably closer to $450k) by the Fourth of July and the only people he's speaking with are the ones that said yes. Maybe I'm completely wrong, but I believe the key to successful prospecting is being able to effectively and inexpensively reach a large enough group of individuals so that you can generate a large enough quantity of quality leads to make your margins plus enough profit to make it more than worth your time. Call me lazy if you'd like, but I'd rather let my telemarketers find me people who are really interested in speaking with me about what I have to offer rather than try to talk a prospect into not blowing me off.
- 4,132
" Maybe I'm completely wrong, but I believe the key to successful prospecting is being able to effectively and inexpensively reach a large enough group of individuals so that you can generate a large enough quantity of quality leads to make your margins plus enough profit to make it more than worth your time."
Actually it's a great point. In career school alot of time is spent over "learning to overcome objections". Want to have a longer career in this business? Learn to accept the objection and move on to the next one.
Alot of life sales are simply timing. Being the guy in front of them when they think about insurance.
Take NO as no and move on..
There are alot of reasons people object from
no money
no love for family
stupidity
mad about something else
and so on.
YA can't fix stupid. Don't try that hard to overcome anybody's objection. Move on. their loss.
If you are getting a large number of chargebacks, look and see if those were the objections you helped overcome. Commissions are only good if you get to keep them. Giving them back sucks and theres the double whammy of the time you spent overcoming one objection, you may have sold three others.
Actually it's a great point. In career school alot of time is spent over "learning to overcome objections". Want to have a longer career in this business? Learn to accept the objection and move on to the next one.
Alot of life sales are simply timing. Being the guy in front of them when they think about insurance.
Take NO as no and move on..
There are alot of reasons people object from
no money
no love for family
stupidity
mad about something else
and so on.
YA can't fix stupid. Don't try that hard to overcome anybody's objection. Move on. their loss.
If you are getting a large number of chargebacks, look and see if those were the objections you helped overcome. Commissions are only good if you get to keep them. Giving them back sucks and theres the double whammy of the time you spent overcoming one objection, you may have sold three others.
- 398
LGilmore, that was fantastic. Noobs would be wise to listen to that advice. One point I would add is that an objection is sometimes a smoke screen. In other words, it masks the real concern. When I've been scared to, I've been trained to 'ask another tough question'. You will be suprised how well it works. For instance:
Client: "Why do I need that much life insurance?"
DCFT: "Surely there is a reason for you asking me that. Do you mind what that is?"
Client: "It seems like $1mm is a lot of coverage."
DCFT: "Which means....?"
Client: "Which means I don't want to over-ensure myself and spoil my family."
DCFT: "And...?
Client: "I want to make sure that I'm not spending too much for this."
DCFT: "That's fair. How much is too much?"
I'm probably oversimplifying, but bottom line is: An objection isn't what it always appears to be. In this senario I went from a question of coverage to budget. Now I know what I'm dealing with, it's easy to help the client figure out how much they want to spend and get the appropriate amount of coverage.
At the end of the day, however, a "No" is almost as good as good as a "Yes", and WAAAAAAAAY more better than "Let me think about it."
SWSWWN.
Client: "Why do I need that much life insurance?"
DCFT: "Surely there is a reason for you asking me that. Do you mind what that is?"
Client: "It seems like $1mm is a lot of coverage."
DCFT: "Which means....?"
Client: "Which means I don't want to over-ensure myself and spoil my family."
DCFT: "And...?
Client: "I want to make sure that I'm not spending too much for this."
DCFT: "That's fair. How much is too much?"
I'm probably oversimplifying, but bottom line is: An objection isn't what it always appears to be. In this senario I went from a question of coverage to budget. Now I know what I'm dealing with, it's easy to help the client figure out how much they want to spend and get the appropriate amount of coverage.
At the end of the day, however, a "No" is almost as good as good as a "Yes", and WAAAAAAAAY more better than "Let me think about it."
SWSWWN.
- 608
We have identified the most commonly heard objections and learned to address them before they arise. So, if you are hearing "I already have life insurance" a lot, then overcome it before they say it. Suggestions: "rates have come down over the last few years", "there are many new products that can save you money", "many products sold over the last few years were overpriced". Using one of those statements sets you up to ask: "do you currently have life insurance?" Whatever they answer, you respond with "Great!".
Hmmm, my experience is that overcoming objections such as this is a waste of time. Yes, you'll win a few, not many.
If they don't want to talk to you, move on. Annoying them doesn't help. Making someone on a cold call come up with other reasons that you won't accept anyway doesn't help.
I've gotten to where I like to listen to the telemarketers pitch. I'll let them try, regardless of how uninterested I am. In the end, I'll say something similar to 'I already have life insurance', even though it may not be a direct fit. I say this because it is short, simple, and I have NO interest. They push back with some stupid question such as 'Is it the new type or the old type', which I quickly recognize as an engagement question, so I'll ask, explain the difference and I'll let you know. This will go on, and on, and on. I ran out of time once, asked the telemarketer how many more iterations he had to go through, he said he had to go till I hung up. I replied, 'Well, my mom told me it was impolite to hang up on anyone, so we'll be here for a while'. He said goodbye.
Understand that you are not selling a one time purchase where fighting to overcome objections makes sense. You are selling a relationship, you are cold calling looking for a date, they said no, move on. Someone out there will go out with you. Find them.
Dan
If they don't want to talk to you, move on. Annoying them doesn't help. Making someone on a cold call come up with other reasons that you won't accept anyway doesn't help.
I've gotten to where I like to listen to the telemarketers pitch. I'll let them try, regardless of how uninterested I am. In the end, I'll say something similar to 'I already have life insurance', even though it may not be a direct fit. I say this because it is short, simple, and I have NO interest. They push back with some stupid question such as 'Is it the new type or the old type', which I quickly recognize as an engagement question, so I'll ask, explain the difference and I'll let you know. This will go on, and on, and on. I ran out of time once, asked the telemarketer how many more iterations he had to go through, he said he had to go till I hung up. I replied, 'Well, my mom told me it was impolite to hang up on anyone, so we'll be here for a while'. He said goodbye.
Understand that you are not selling a one time purchase where fighting to overcome objections makes sense. You are selling a relationship, you are cold calling looking for a date, they said no, move on. Someone out there will go out with you. Find them.
Dan
- 9,744
You've really got two problems here...
Number one, what makes you assume that everybody wants to "save money on their life insurance"? Did you ask them?
Number two, what makes you think they believe you?
