The Art of Cold Knocks

[WinoBlues]

Nothing new in this business.

But I do use the take away quite often and have found it to be successful.

Used a variation of it yesterday. He came back OTA and his premium went to $250mo, he was cool but his wife was beating me up a bit on the phone. I finally got to the point of 'I understand, let me email the company and let them know you decline. Send me an email confirming you understand the TIAA is canceled and that product is no longer available in California'. Him = I'll call you back. Five minutes later he calls to take the offer.
OK, it helps that the term I sold him 20 years ago tems out next week and the premium goes to $1,400.00 a month.

Here is my card. IF you wake up in the morning, give me a call"

If tomorrow morning you wake up dead.

 

[somarco]

When used properly, and cleverly, the take away is solid gold.

 

[WinoBlues]

When used properly, and cleverly, the take away is solid gold.

Yeah, you have to have a somewhat 'don't give a shit if you do' attitude. Definitely can not have commission breath.

 

[rousemark]

"Yes Mildred your on a fixed income and mine is broken"... smile and laugh.

"I would give anything if mine were fixed... Sometimes I don't get anything".(and was known back in the day to occasionally add with a smile, "and if you don't take this, today is going to be one of those days

"That's great! Nothing wrong with a fixed income when it is fixed high enough"

I have always wondered how seniors on SS and retirement came to believe they were unique in that. Even in the days when they were working, if they were on salary they were on a fixed income. If they were paid by the hour and got the same number of hours each week they were on a fixed income. Then only thing about the seniors fixed income, it is a little more fixed than the other in that they are in danger of being fired, laid off, etc.

 

[shonceman]

"I would give anything if mine were fixed... Sometimes I don't get anything".(and was known back in the day to occasionally add with a smile, "and if you don't take this, today is going to be one of those days

"That's great! Nothing wrong with a fixed income when it is fixed high enough"

I have always wondered how seniors on SS and retirement came to believe they were unique in that. Even in the days when they were working, if they were on salary they were on a fixed income. If they were paid by the hour and got the same number of hours each week they were on a fixed income. Then only thing about the seniors fixed income, it is a little more fixed than the other in that they are in danger of being fired, laid off, etc.

I always chuckle about "fixed income", too. I think most of my prospects who say it think it means low income.

On the flip side of that, one of the guys in my church was marveling at how I could possibly work for straight commission, saying, "That takes a lot of faith to be able to live that way." Of course, he was right, especially in those days when I was just getting started. But it struck me that in many ways it took more faith when I had a steady "fixed" paycheck to make ends meet when the cost of living was rising faster than my income.

 

[somarco]

Yeah, you have to have a somewhat 'don't give a shit if you do' attitude. Definitely can not have commission breath.

I have mastered the art of not breathing . . .

Even in the early days when I would crawl over broken glass to make a $10 commission, I dared not let on that I was desperate.

Now I can breathe freely because until they become a client I really don't care what they do. I even tell them "You can take what I give you and buy from the carrier or from another agent. But what are you going to do next year when I am not here to answer your questions and help you shop your coverage?".

That usually turns them around.

Most of the time I don't have to engage the take away, but will not fail to use it when it looks like I have nothing to lose. Might as well go ahead and pull the trigger.

Sometimes I am actually amazed that it works.

 

[WinoBlues]

But what are you going to do next year when I am not here to answer your questions and help you shop your coverage?".

That.

They can buy somewhere else, but they only get that salesman for an hour. With me they and their family get me all the way through claim.

Why pay the same and get a lot less?

 

[rousemark]

Just bought the Kindle version of the 2017 reprint.. 99 cents..

One of his statements from the book:
By concentrating my efforts on the sale of just one accident policy, I learned almost all there was to know about that one policy. And I learned from experience what to say and how to say it—what to do and how to do it to sell in tremendous volume. I gained activity knowledge and know-how. I learned how to develop inspiration to action at will.
William Clement Stone. The Success System that Never Fails . General Press. Kindle Edition.

He always preached specialization. Concentrate on one product and sell it to everyone.. He built an amazing company with that accident plan. Later when they came out with other products, they still had agents sell one instead of offering all. They had an accident division, a cancer division and a life division.. Later, they developed a Medicare Supplement division. I don't know if they still do that with their captive sales force (they also deal with brokers now)… Almost everyone I have known that has made really good money in personal production specialized in a single product or concept. I was never able to do that for fear of walking by a sale... Would have been much better off if I had forced myself to follow WCS's example.

 

[somarco]

One of his statements from the book:
By concentrating my efforts on the sale of just one accident policy, I learned almost all there was to know about that one policy. And I learned from experience what to say and how to say it—what to do and how to do it to sell in tremendous volume. I gained activity knowledge and know-how. I learned how to develop inspiration to action at will.
William Clement Stone. The Success System that Never Fails . General Press. Kindle Edition.

He always preached specialization. Concentrate on one product and sell it to everyone.. He built an amazing company with that accident plan. Later when they came out with other products, they still had agents sell one instead of offering all. They had an accident division, a cancer division and a life division.. Later, they developed a Medicare Supplement division. I don't know if they still do that with their captive sales force (they also deal with brokers now)… Almost everyone I have known that has made really good money in personal production specialized in a single product or concept. I was never able to do that for fear of walking by a sale... Would have been much better off if I had forced myself to follow WCS's example.

My first experience was in a MONY agency. We had an old guy there that was a "lifetime member" of the app a week club.

All of his clients bought a HIP (hospital indemnity policy) before they bought anything else. Price decided it was the easiest thing for him to sell and it was affordable. I think the smallest policy was something like $10/month.

So everyone bought a HIP. If they wanted something else he would take the app. Most of his life policies were $5k to $10k.

One time someone wanted a $25k policy. He had no idea how to figure the premium from the rate book. Had to call the manager to get the right premium.

Price Orr was an interesting guy. Never made much money but had a bunch of trophies.

 

[shonceman]

Price Orr was an interesting guy. Never made much money but had a bunch of trophies.

And was probably well loved by his clients.