Summary: Are you finding it difficult to close your insurance sales? You may not be following the right approach. Read this to find out how to go about it.
Selling insurance is not like selling any other product or service. It is something for which people don’t realize the need.
Sure you will find a lot of prospects if you generate insurance or health insurance leads. But unless you know how to convert them into sales, they can be of no use to you.
Here are a few tips you could use to close your insurance sales:
Don’t give your prospects too many options
If you want to make it easier for your prospects to make their purchasing decisions, you will have to make sure you give them as less options as possible. Too many options will only confuse them enough not to make any decision. Instead, make it a point to understand the requirements of your prospects and present only those options that suit their situation. Streamline their experience to make your sale more relevant.
Don’t give up until you get a “Yes”
Turning a “No” into a “Yes” can be more difficult than you think. A better approach would be not to ask any questions that could have “No” for an answer.
So instead of asking your prospect, “do you want this?” ask “which one would you prefer?”
If the options you give them are too obvious, it is highly likely that they will go with the option you want them to choose.
Focus on making them experience the fear of loss
More than the reward of gain, it is the fear of loss that pushes us towards taking decisions, without losing time. The formula will work well for selling insurance too.
Your focus should not be on selling insurance here. It should be on making them realize what they are going to lose if they don’t have insurance. That’s when they will understand their need for your product.
Pull on their heartstrings
It is our emotions that influence us into making every decision that we make in life. So if you want to close your insurance sales, you will have to hit that emotional trigger.
First step is to make your prospects experience the fear of loss. That part has already been covered above. The next step is to help them experience the satisfaction of helping others. Focus on the relief that their family members would feel when their health care costs or funeral costs (in case of a final expense policy) are covered. Make them feel proud for being so selfless.
You don’t have to be a sneaky salesman when it comes to closing your insurance sales. All that you need to do is trigger the right emotions. The rest of the actions will be taken by your prospects automatically.
Focus on the value that your product provides
One mistake that most insurance salesman do is to sell on the price of the product that they are trying to sell. But unless your prospects realize the value that they get out of your product, they may not be interesting in buying it. This remains true even if you are offering the product at a throwaway price. So build on the value. Make them feel they are getting much more for what they are paying.
Selling insurance is all about making your prospects realize the need and giving them all the information they would need, to make their decision. Provide references if need be. Make it as convenient as possible for them to take the action you want them to take.
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