Make sure to implement these insurance sales tips!
Insurance is one of the most competitive industries out there. It’s also one that will never go away, so if you enjoy the industry and perform well, you’ll have a rewarding career and job security for life! To get there, you need to add customers to your book of business constantly. In order to have peak sales performance from yourself and your team daily, you’ll need to know the best tips to stay ahead of the competition. Try these outstanding insurance sales tips to improve sales results for you and your team:
Simply put, sales is a communications field. You must speak clearly and concisely to your clients so that they understand the features and benefits of your insurance coverage. In addition to speaking with clients, producers are sometimes asked questions by prospects that only the agent or service professionals may know the answer to. Rather than putting the client on hold or walking out of your workspace to find the answer, use an internal chat system that allows you to communicate with team members instantly. Instant messaging provides producers with a quick response from team members. This also reduces the need to schedule callbacks with prospects and decreases the risk of a sale becoming lost or delayed.
Coach to Win
In order to coach effectively, you need to have the right tools in your arsenal so that you and your producer know what you need to improve. If you’re not using these tips already, here’s what many successful insurance agencies do and use daily:
- Access producer call recordings. What’s the point of coaching your producer on a call if you can’t play back the recordings? Make sure your phone system has a recording feature so you can coach your team.
- Track sales opportunities. Have your team keep track of all the individual sales opportunities that are won, lost, and pending. A sales software like Blitz will allow you to do so. For the sales that are lost, review the notes along with the call recordings from a particular prospect. This will allow you and your producer to have a more productive conversation.
For example, let’s imagine that your producer, Bob, has lost a homeowners opportunity because the premium price was higher than that of a competitor. Being able to access a report of this information allows you to coach Bob on overcoming the objection. In fact, companies report having 28% higher win rates with robust sales coaching. Or, if the objection is deeper than coaching and is consistent amongst all team members, you can reflect and adjust your team’s sales strategy.
Whisper to Win
Whether it be overcoming an objection or general product knowledge, staff members sometimes need help succeeding on calls. Many sales managers utilize whisper coaching through their phone service provider to monitor calls and ‘whisper’ insurance sales tips to their sales reps during calls! Prospects are unable to hear the coaching from their end. When you have new staff members, this is a useful tool to bridge the learning gap faster.
Positively Handle Objections
Famous businessman, W. Clement Stone, once said; “Sales are contingent on the attitude of the salesperson, not the attitude of the prospect.” This proves to be true when you handle objections. A prospect may be on the fence, but a salesperson must always stand their ground and remain positive. Act like you get the objection all the time and reflect your positivity in your body language and tone of voice. Through repetition and a positive mindset daily, the opportunities to help others and grow your book of business are endless!
Implement a Sales Call Strategy
Often times when you’re calling lots of lead lists, you have your team utilize a call script. Anyone can implement a call script, but the call script’s content is what truly matters. Don’t just include the standard call script. Help your staff succeed by preparing them with common objections they’ll face and by offering tips to handle them. To make even more phone calls, upload these call scripts into a dialer. A well-prepared call strategy with more calls made by producers means more opportunities and clients.
Remember: Be Memorable
Someone once said that “people buy from people.” Insurance is no exception. There are countless providers and agents out there. Why should people choose you? Customer will often spend more money with you than with a competitor if they like and trust you. How do you get prospects to like and trust you? It’s simple: be memorable. As you call or meet to conduct follow-up, record important details such as names of family members, hobbies, and job titles within your sales software. This makes it easy to reference meaningful points during the conversation that you might otherwise forget.
Consistent sales meetings are a necessary component to maximizing sales results and building team morale. In fact, over 50% of sales reps rely on their peers to improve their skills. With that being said, weekly sales team meetings should allow the team to discuss and coach each other on what has helped them succeed. A sales manager lecturing the whole team doesn’t help them. A collaborative team environment where sales reps are encouraged to help one another fosters a positive work environment. This benefits all sales reps from both an individual and team perspective.
- Prompt communication is the key to closing sales quickly and reducing future follow-up. Without proper internal communication like a chat system, sales can be delayed or lost.
- Coaching drives sales. Timely coaching from managers and fellow team members promotes a collaborative work environment that builds morale with the goal of improving sales performance. Tools like sales software integrated with a phone system provide essential coaching features.
- A positive mindset and a positive attitude drive results. No one likes a ‘Debbie Downer.” Sales is full of rejection, so don’t sweat the “no’s.” Stay positive and resilient when speaking with a prospect and the results will come.
- Build a relationship. Remember personal details about your prospects and leverage them in future conversations. This will allow you to be more memorable to prospects than other competitors.