6 Tips to Avoiding Insurance Sales Pitfalls

6 Tips to Avoiding Insurance Sales Pitfalls

Selling insurance is challenging enough. Do you really want to make things harder on yourself than they already are? If you’re unintentionally (or unknowingly) falling into these traps, you’re probably giving yourself an uphill climb where none need exist.

Check out the list below. If you see yourself in any of these scenarios, it might just be time to rethink your approach.

1. The quick pitch. To use a baseball comparison, you’d never see a major league pitcher take the mound without warming up first. Keep this in mind when you’re pitching your service or product to a potential customer. Always take the extra time to get a feel for what the prospect wants before you try for the sale or, to extend the baseball metaphor, risk striking out.

2. Company talk. When you’re making your pitch, what’s the most important thing to focus on? If you said the product or service you’re trying to sell, go to the head of the class. Spending valuable time talking about your company is a complete waste. Get to the point and make the sale, or there won’t be a company to talk about.

3. Paying attention. Do you find yourself just waiting for the prospect to stop talking so that you can continue your pitch? If so, you’re missing the single most important part of the sale — paying attention to what your prospect is saying so you can adjust your presentation to suit their needs…and that’s going to cost you.

4. Knowing the score. What if your prospect asks you about a brand-new type of insurance, specific to their industry and you have no idea what they’re talking about? Now there’s a conversation that’s going to end with a resounding thud. Before you set up your pitch, do the research to find out if there’s anything new so you won’t be blindsided. You can also earn extra points by knowing these things when your prospect doesn’t.

5. The cookie cutter. If each and every one of your prospects is identical in every way, congratulations! You can put together a single presentation and use it over and over again. If they’re not — and let’s face it, they’re not — then you’d better invest the time and energy into customizing your presentations to fit the pitch.

6. The follow through. No one likes to wait by the phone, especially when they’re a prospect who’s still in the “courtship” phase. If they’ve asked for more information, get it to them quickly. If they’ve requested another call, prioritize it. The little bit of extra attention you pay to prospects up front will pay huge dividends down the road.

Everybody’s sales process can use a little fine-tuning now and then. If you keep these six tips in mind, you should be closing deals all day long!

-Chad Carpenter, National Marketing Representative 

chad.carpenter@insuredsolutions.net, PH: (678) 831-3397

Chad Chad develops alternative work comp programs for agents and managing general agents that rehabilitate clients with limited options. With 12+ years of large carrier and public broker background specializing in work comp, Chad understands the challenges the marketplace levies on business. He works with agents to explain the programs and processes needed to gain coverage at a savings from alternative work comp markets.
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