What gives when prospects will refuse to switch?

[somarco]

Value based selling is all I have done for the last 30+ years.

Actually, I don't sell, I educate . . . and by educating your prospect you are giving them something valuable they aren't getting from anyone else . . . even more, you are offering it for free.

Everyone else they talk to is talking features and price. No one is talking value, or explaining how to use their plan.

Others are selling vanilla . . . I am offering Neapolitan.

I don't do warm ups. I never ask for the sale. I don't close. I don't ask for the check.

Remember . . . no one likes to be sold but everyone likes to buy.

Give them opportunities to buy and then do this. Walk away and let them come after you. If you did things right, they will follow you 90% of the time. Eventually you will get to 98% but 90% is enough to put a lot of shekels in your pocket.

Here are 7 key principles of value selling:

Do your research
Don’t lead with your sales pitch
Ask questions (and listen)
Let them know the value
Teach, don’t pitch
Focus on the buying process, not the selling process
Be genuine
[EXTERNAL LINK] - Value-based selling: What is it and why is it important? | sales-i

One correction to the above.

Do NOT focus on the buying process, talk about how they can use your product to get the best ROI. If you don't do this, they will see your product as a money pit.

A wise man told me years ago that everyone I will talk to listens to radio station WIIFM . . . What's In It For Me? Unless you SHOW them what is in it for them they may never see it.

One more thing.

No matter how desperate you are for a sale . . . never let them see you sweat.

 

[InsuranceGuy29]

Not sure if you ever watched "The Sopranos" but this made me think of a memorable scene in it.........Tony's Mob Boss Uncle, Corrado Soprano, Jr., feels increasingly disrespected and demeaned by his nephew, Tony.

When a ruthless Capo (Captain), Richie Aprile, (who also feels aggrieved by Tony) approaches Junior with a plan to whack Tony and replace him as boss, Junior sees his chance to regain what he believes is his. That is, until Richie reports back to Junior with the news that a bunch of guys he was relying on to be a part of the plot bailed out.

When Richie leaves their meeting, Junior bitterly delivers one of the most memorable lines in the series............. "He couldn't f*cking sell it." Junior continues to explain that Richie couldn't gain the trust, and/or respect of others.

He never proved to them why they should feel compelled to stick their necks out for him, rather than just live under Tony. Bottom line....they didn't trust him. Junior then similarly says, "I'm better off with Tony," and makes his plan to inform Tony about Richie.

What does this all mean and how does it relate to you? They didn't trust you enough. That doesn't mean you aren't trustworthy, but you likely just haven't built a strong enough rapport with these people.

The vast majority of people don't like change....even when that change is in their own best interest. In my early years, I had similar situations. I'd explain things logically, tell them how "Company B" and their plan is clearly better for their situation, and at the end they would balk and say something stupid and completely illogical, like.....

"Eh, I don't know, I just like (for instance) Blue Cross." I'd press a little further, and they couldn't really even tell me why. Hell, they probably just liked the logo, and the subconscious constant advertising worked on them as intended by the company. Who knows?

 

[AgentGeneral]

Not sure if you ever watched "The Sopranos" but this made me think of a memorable scene in it.........Tony's Mob Boss Uncle, Corrado Soprano, Jr., feels increasingly disrespected and demeaned by his nephew, Tony.

When a ruthless Capo (Captain), Richie Aprile, (who also feels aggrieved by Tony) approaches Junior with a plan to whack Tony and replace him as boss, Junior sees his chance to regain what he believes is his. That is, until Richie reports back to Junior with the news that a bunch of guys he was relying on to be a part of the plot bailed out.

When Richie leaves their meeting, Junior bitterly delivers one of the most memorable lines in the series............. "He couldn't f*cking sell it." Junior continues to explain that Richie couldn't gain the respect of others.

He never proved to them why they should feel compelled to stick their necks out for him, rather than just live under Tony. Bottom line....they didn't trust him. Junior then similarly says, "I'm better off with Tony," and makes his plan to rat Richie out.

What does this all mean and how does it relate to you? They didn't trust you enough. That doesn't mean you aren't trustworthy, but you likely just haven't built a strong enough rapport with these people.

The vast majority of people don't like change....even when that change is in their own best interest. In my early years, I had similar situations. I'd explain things logically, tell them how "Company B" and their plan is clearly better for their situation, and at the end they would balk and say something stupid and completely illogical, like.....

"Eh, I don't know, I just like (for instance) Blue Cross." I'd press a little further, and they couldn't really even tell me why. Hell, they probably just liked the logo, and the subconscious constant advertising worked on them as intended by the company. Who knows?

Exactly

I'll add that desperation breath doesn't help (thats actually a term I learned here many years ago---desperation breath--it stuck with me bc it's true that many younger agents emit that bad breath--its really a nervousness that shines through). Not saying that was what was up, just sayin...prospects pick up on that bigtime. "overselling" is a form of that bad breath.

Stay calm and educate and listen to the client. Mirror, parrot, repeat back to them what they are sayin so they know youre listening which shows you care enough to do whats in their best interest. Be a boss. Not a used car sales man.

 

[Russ]

Talked with a lady that has SS Choice with me. $52.50 a year in 2024. Takes no meds. Told her about Wellcare Value Script with immediate coverage for generics. Premium is $0.

Her reply..."let me think about it"

My reply back...call me if I can help.

 

[kgmom219]

Don't be pushy is my two cents.

Had one last week, I'm not even switching her carrier, just the plan. But when I said "we aren't doing anything today, you need to think on this" her entire attitude changed. And I did it at the beginning of the call. She was only calling so her friend would get off her butt about paying too much.

I will either close her after Thanksgiving (appt is already set) or not. And if not, I will ask if I can add her to my email "check in" list for Sept 2024. They always say yes and I will get her next year. Whatever.

 

[ICACharleston]

Lots of people are happy with what they got and fear some hidden "gotcha" that will arise. The old "what's the catch?" reluctance. When they used to ask at community meetings why there was no premium, I would tell them because UHC loves you.

 

[somarco]

Lots of people are happy with what they got and fear some hidden "gotcha" that will arise. The old "what's the catch?" reluctance

When this happens, the agent was never able to instill a level of trust in what they were saying.

Not everyone I talk to buys from me, almost all of them do, but some of them slip off the line. No worries. They will be someone else's problem.

I don't chase and I don't offer do overs. Either we do business the first time or we don't. But I have never taken anyone back after they walked away, and I make that quite clear from the start.

The odd thing is, the few people that buy from someone else will occasionally refer a friend or relative to me. And those folks almost always buy . . .

 

[ICACharleston]

When this happens, the agent was never able to instill a level of trust in what they were saying.
. . .

Not in these cases which are only existing members in my book.

 

[LostDollar]

When this happens, the agent was never able to instill a level of trust in what they were saying.

Not everyone I talk to buys from me, almost all of them do, but some of them slip off the line. No worries. They will be someone else's problem.

I don't chase and I don't offer do overs. Either we do business the first time or we don't. But I have never taken anyone back after they walked away, and I make that quite clear from the start.

The odd thing is, the few people that buy from someone else will occasionally refer a friend or relative to me. And those folks almost always buy . . .

I don't know how to make words for the vague ideas floating in my mind, but I don't necessarily see that as odd.

When it comes to the "walk away's" concerns about a family member or friend having a good buying result, the "walk away's" overall Medicare buying experience may leave them feeling like their referrals are more likely to get a better result working with you than with the agent they ultimately made a purchase from themselves.

I have mentioned this story before, so this is a "rerun", but that is exactly the case I have with a local agent. Although @DS4 has given me hell for it, I shopped an HDF medigap plan. I knew exactly what I wanted. I found a local agent contracted with the carrier. I did some preliminary emailing to the agent to prevent issues, asking if he would sell me that product. He said he would.

THEN, when we actually started the call, he tried to sell me a Lasso MSA plan. That would have been a legitimate possibility had I NOT had those prior discussions. Since I had had tthem, he was way out of line as far as I was concerned. I just waited him out to get what I wanted. But.. in the (highly unlikely) event that a local person would happen to ask me if I knew any local Medicare agents, I would NEVER, ever, ever recommend him.

AND, it is HIGHLY unlikely that I will suggest to my wife that we talk with him when the time comes for her Medicare enrollments.

So some of those peoples' final enrollment and purchase experiences have had more issues than they would expect someone else to have from you.

 

[LostDollar]

Lots of people are happy with what they got and fear some hidden "gotcha" that will arise. The old "what's the catch?" reluctance. When they used to ask at community meetings why there was no premium, I would tell them because UHC loves you.

Caveat, NOT an agent.

Exactly.

For example, as long as I am able to afford the Medigap premiums, examples like @kgmom219 's experience with her sister, leave me extremely reluctant to switch to the MA world.

One of the thought pictures I have when considering MA (and I do know you like it) is a lady person with their head sticking out of the trunk of their car, making a cell phone call.