How does a life insurance agent create that sense of urgency to buy when meeting with prospects?
That was the essence of a question posed to the Forum community in a popular thread posted recently, and it has elicited some great ideas in responses so far.
The agent in question says they have plenty of prospects that say they want and need life insurance, but they are not compelled to act right now. How can an agent keep a prospect from procrastinating on such an important decision?
Here are just a few of the great ideas shared so far on this thread on the forum. If you would like to read more or add in your two cents, please visit the thread.
1. [The agent] is not finding the “want” or the “pain” – that thing that makes them cringe with the thought of it. That problem that they will pay to have a solution to, today. Needs and concepts are great and work with the logical side of us. However, sometimes the “act” side of us needs pain to drive us forward.
2. I don’t like to make emotional presentations… I keep them factual. But I did pull a ballsy move one time on a funeral PreNeed appointment that worked. Like many appointments I could tell the wife was ready to sign up. Husband was not. They had today’s newspaper lying nearby so I picked it up and said, “Let me show you something.” I showed them the obituary page. I pointed out that some of the obits were younger than they are. Then I said, “I guarantee you that if I met with everybody on this page two days ago, half of them would have told me they want to think about it. And look where that would have gotten them. Here are your two choices. 1. I can have you covered WHILE you think about it. Or 2. Is just NO. No thinking about it, just no. It would be crazy to not be covered while you are thinking about it.” It worked. They bought.
3. For all you emotion-based salesmen: Ask, “If you died last night, what would you want me, (an insurance agent), to say to your family today”? Ask, “How do you want to be remembered”? Ask, “Should I send flowers to your funeral or a check for $$$”? If I feel really froggy, I’ll say, “Husbands sometimes don’t believe in life insurance but widowsalways do.” I won’t use these if I have no rapport or if they can’t answer the most important question of all: “WHO DO YOU WANT TO BE THE BENEFICIARY OF YOUR POLICY”?
4. I am a huge fan of The Life Foundation’s “Life Happens” stories. Show them a 5-minute video of what happens to real people that bought insurance (or what happens to kids when they didn’t get a policy). Of course, we are all going to live forever and be invincible, but what happens when you’re not? The videos and stories will punch them in the heart and make them think hard about waiting.
5. There is a line that must be watched. You need to educate them and give them the facts of the situation first. When the facts are related to their personal situation it can get emotional. That being said, when it gets theatrical or over the top with the analogies and stories I feel you have drifted into a realm of pressure sales that I am not comfortable with. An educated customer will generally make the right choice as long as your proposal is truly better for them and you have kept their interests above yours.
6. This time of year makes it easier … I point to all those who were healthy in the twin towers. None of them expected to not make it home. “Mr. Client if you did not make it home tonight who would need money?”
7. For me, if a prospect puts up too many objections, I thank him for his time and move on. I will stay in touch, but I will not burn any bridges trying to “one-visit-close” anybody. Sometimes you write them later. I have gone as far as 4 years later with several prospects. Don’t burn a bridge; just don’t spend a ton of time on them. Keep your name in their face 4 or 5 times a year so when the light goes off, you’re who they call.
8. I’m very logical and straightforward in my meetings and I almost always work a two-call close (which some agents will certainly disagree with however, the first appointment is likely phone based). After a fact find, I’ll do a needs analysis, which points to a certain amount of coverage in various areas. I approach most situations clinically and provide a couple of options. Then I make a recommendation of which option is best and why. The client can choose to listen to my advice or not…
• To read more tips for creating a sense of urgency in prospects, or to add your own idea, please visit this thread now.