Wednesday, August 31, 2011

Advanced Insurance Secrets of Closing Sales - Sorry, I Don't Accept Buying Objections

Advanced Insurance Secrets of Closing Sales - Sorry, I Don't Accept Buying Objections
By Donald Yerke

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Every experienced insurance agent has tips and advanced secrets on what makes closing sales easier. Few secrets concern heading off buying objections. See how buying objections hurt closing sales of insurance. Discover why purchasing a jumbo book on the secrets of handling objections is a waste of your time and money.

Insurance sales agents, advanced or trainees, now their income hinges on closing sales effectively. The approach on treating buying objections however varies widely. A vast number of agents think that objections are part of the sales process. With this logic, they spend their short or lifelong career thinking of ways to outsmart a prospect whenever a sale is made. Some are even told that the secrets of closing sales lie in turning the objection around into a sales advantage. Not that many agents are able to do that consistently.

I take a much more advanced approach in discussing the insurance secrets of closing sales. It is very simple. I just do not accept buying objections as a means for a prospective client to get in the way of making a sale. What do I personally think of the concept of not stopping under you have heard "no" eight times? Three thoughts. First, I think the sales person is ill prepared to be an insurance salesperson, and should find another occupation. Next I believe that the agent if receiving buying objections because they are a suspect, and not a qualified prospect worth spending time on. Last, the agent is lacking the personality traits of strong self-confidence, motivation, adaptation, and determination to walk out with the sale.

How to handle buying objections:

Never let them come up. Before you make an appointment make sure you have a strong prospect. A prospect must have a desire to want to hear what you have to say, and know that there is an important emotional need to fill an insurance gap. If do not know this, ask your prospect to acknowledge there is an awareness before confirming an appointment and wasting gas and valuable time. If you control the source of the lead, you should already know if the client could, if convinced, afford it.

Go through the objections in advance

The bulk of the main objections fall into the range of: price, indecision stall, unconvinced of need, think it over, don't need it right now, want to compare, and call you later. Do you think you could sell more policies if you never received these objections? Do you believe an 80% or 90% closing ratio can actually be a reality? If so, read on, otherwise my secrets of closing sales will merely turn to stone. The first step is not to treat a lead like gold and rush to make an appointment. Are you absolutely sure you have a true lead, and not a look-alike suspect?

Establishing a true lead

The problem comes with so many wishy-washy insurance agents tying to turn suspects into prospects into buyers because they think they have a lead. A person that lets you discuss insurance is not a lead. It is this kind of person that will give you every buying objection possible to prevent a sale. A true lead is not afraid that they suffer from a gap in their insurance and need to talk about it. Next is where your personality sales skills reflect the outcome. A prospect can immediately feed if you are strong in your convictions or week. The prospect can sense you amount of knowledge, and enjoys dealing with people much smarter than them on that subject matter. They want to be treated on the same level as a trustworthy friend, which you must establish before the presentation begins.

Where are the buying objections?

If you followed the simple secrets above you will quickly become an advanced salesperson. You will notice when this occurs as getting objections becomes a rarity. Ask yourself what reason a true prospect has to object. The two of you together are teaming together. Both of you are working on designing the best plan of filling insurance needs within a certain budget. Sorry, you are no longer buying objections. You are assisting the prospect to buy insurance.

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