When is a sale, not a sale?

[Guest]

When is a sale, not a sale?

Being a health sales trainer I speak to many agents, and there are far too many that get stuck on the definition of a “sale.”

It goes like this: "I have 5 sales this week"

Then they say that 2 of the sales are appointments and 3 are people calling them back.

Translation: You have zero sales!

I know I’m Mr. Reality Check, but that’s the only check you’re going to be cashing with that “sale” mindset.

Do not set yourself up for disappointment.

You should know that those "5 sales" may end up being just one, two or maybe three at the most. Sometimes you won't close any. But rarely, if ever, will you get 5 out of 5. Unless you’re really a Jedi at qualifying the customer and eliminating the competition, or you decide to camp out in front of their home until they buy. ; )~

Also, when you think you have those 5 sales, you tend to relax a little bit, then when they don't materialize as expected, you try to catch up at the end of the week, month or year to reach your quota or goals.

You can’t run a business on potential.

A “sale” is a submitted policy and even then, it still has to be issued in order for you to get paid.

I use a two column chart that I update monthly: One column has submitted polices, one has issued policies. As long as I keep submitting, I’ll continue to have issued policies.

That's the sale that matters.

 

[warnerins]

Nice Rob....

I was trained 18 years ago at Northwestern Mutual on the Al Granum "One Card System". That system was perfect for my personality and selling style. It made me track my activity (on a daily basis) using a point system. I have become a huge numbers guy.

It is probably one of the best programs for new agents because you don't really focus on the sales count. Sure the sales numbers are in there. But the focus is more on how you got to that end.

I can remember sitting down with my mentor going over my activity for the week. Thinking to myself "man I had a great week 4 nice sales and its only Thursday", as he proceeded to rip me to shreds because my appointment to fact finder ratio was not documented correctly.

I currently use a similar system today but have tweaked it to resemble my agency goals for P&C sales numbers. In my agency if we write an application it is almost a guaranteed policy (unlike life or health sales).

The chart on my wall also has two columns (and is updated daily). The one on the the left is our agency goal of 3 new clients a day and the one on the right is actual new clients per day. We don't count applications because it is an easier sales ratio to cross-sell an existing client than it is to obtain the client in the first place.

We are currently at 15 new clients and should be at 18 (we work a 6 day week).

I really enjoy your threads...they always seem to get my mind moving....

 

[Mark]

When is a sale, not a sale?

Being a health sales trainer I speak to many agents, and there are far too many that get stuck on the definition of a “sale.”

It goes like this: "I have 5 sales this week"

Then they say that 2 of the sales are appointments and 3 are people calling them back.

Translation: You have zero sales!

I know I’m Mr. Reality Check, but that’s the only check you’re going to be cashing with that “sale” mindset.

Do not set yourself up for disappointment.

You should know that those "5 sales" may end up being just one, two or maybe three at the most. Sometimes you won't close any. But rarely, if ever, will you get 5 out of 5. Unless you’re really a Jedi at qualifying the customer and eliminating the competition, or you decide to camp out in front of their home until they buy. ; )~

Also, when you think you have those 5 sales, you tend to relax a little bit, then when they don't materialize as expected, you try to catch up at the end of the week, month or year to reach your quota or goals.

You can’t run a business on potential.

A “sale” is a submitted policy and even then, it still has to be issued in order for you to get paid.

I use a two column chart that I update monthly: One column has submitted polices, one has issued policies. As long as I keep submitting, I’ll continue to have issued policies.

That's the sale that matters.

Rob, you are the man. Thanks for sharing this with us. I would love to pick your brain and get all of your secrets out of it.

If you ever come to Georgia, let me treat you to dinner and try and pick your brain.

 

[CHUMPS FROM OXFORD]

Good stuff. There are about 75 posters on this Board that should combine their efforts and write a book.

All 75 have great ideas.



Made it to the Semi-Finals despite Big Ben and LT having "so-so" games. I think I'll go with Schaub next week as Ben plays those tough Ravens.

 

[somarco]

If you ever come to Georgia, let me treat you to dinner and try and pick your brain.

His will be the one on the left . . .

 

[moonlightandmargaritas]

A “sale” is a submitted policy and even then, it still has to be issued in order for you to get paid.

What's that old saying?

A sale is not a sale until YOU get YOUR money....

 

[Delta76]

I was trained 18 years ago at Northwestern Mutual on the Al Granum "One Card System". That system was perfect for my personality and selling style. It made me track my activity (on a daily basis) using a point system. I have become a huge numbers guy.

I didn't start at NML, but I had a friend starting there that entered the business at the same time. He got me the activity tracking form and I used that when I got started, with him coaching me as to what was acceptable with his firm. He's out of the business, I'm still going, but on the health side of the business.

The great part about the One Card System (OCS) is it can be done with almost no marketing budget, it's a proven system for selling life insurance, and it rewards what you can actually control, your activity level instead of production. Good activity will result in good production if you keep at it.

I could never find a similar system for health, so I took some of the ideas from the OCS, some of Tom Hopkins tracking sheets, and a few other sources and created a system geared to health sales. If anyone wants a copy, it's on my blog on the right hand column (about mid way down). Here is a link.

 

[Guest]

Thanks, I really appreciate it. Good additional info as well.

Glad it gets you going, thinking happens too infrequently these days, LOL.

Nice Rob....

I really enjoy your threads...they always seem to get my mind moving....

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You sure you want all of the secrets?!??!



Thanks for the kind words.

Rob, you are the man. Thanks for sharing this with us. I would love to pick your brain and get all of your secrets out of it.

If you ever come to Georgia, let me treat you to dinner and try and pick your brain.

 

[Delta76]

Rob,

You have an excellent point. Don't count anything until the check is in the bank and it clears. If you are on advances, it doesn't count until the first year funding is complete.

A big mistake I have been guilty of myself is to relax when I have some big cases in the pipeline or in underwriting. My activity level falls, something doesn't go through I was banking on, and all the sudden I'm hurting. Even if the case does go through, the pipeline starts to dry up and we all know the hardest part of keeping the pipeline full is building it up, maintaining it is fairly easy.

 

[Crabcake Johnny]

Also a word for those on advances. Even when the policy is approved and taken all you have is a loan.

Get into the habit of saving a significant portion of your advance not only to offset potential chargebacks but also switch to as-earned down the road.