Never Stop Learning

by | Oct 16, 2017

You want to be successful in your insurance business. Some agents dive in feet first and cross their fingers as they wish for success. Other brokers make a plan and follow it. With either approach, most of us check the box: project/business launch completed. And we quickly move onto the next thing… Right?! We tend to “set it and forget it,” like a Ron Popeil commercial.

While there may be a handful of people this approach works for, the rest of us typically aren’t as fortunate.

If we want to be successful, we need to continually learn and seek ways to improve our insurance business.

Sure, we all know outlandish brokers and agents who run through life jumping from one shiny object thing to the next. While they appear to be successful, they actually leave a wake of chaos and destruction in their path. (The aftermath of a hurricane comes to mind.)

Shiny-object brokers may experience momentary success, but it isn’t sustainable over the long term.

So how can you beat the odds and establish a foundation to propel your insurance business forward systematically?

From a marketing perspective, we recommend creating a strategic plan that you follow like a roadmap. But let’s say you already have a plan. How do you ensure forward momentum and keep up with the accelerated pace of today?

Here are a few guidelines to consider following:

  • Continually Learn. Keep reading, searching and listening. With today’s information highway, the options for learning are limitless. From webinars to podcasts to social media platforms – all you have to do is plug in, absorb, digest and apply what you discover.
  • Share What You Learn. Keep posting and sharing relevant nuggets and insights with your customers and prospects. In doing so, you’ll position yourself as a thought leader that is plugged in and paving the way for success.
  • Find Ways to Connect. Contrary to popular belief, it isn’t all about you. It is, however, about connecting with others to see how you can help. (As a Rotarian, we call is Service Above Self.) If you seek ways to help others, you’ll learn volumes about what works and what doesn’t work. By contributing to the lives of others, you feed your soul.
  • Genuinely Listen. One of the best ways to continually learn is by really plugging in and listening to what others have to say. Intentionally dig beyond the surface and find out what others are passionate about, what keeps them up at night, and how they are achieving their business and life goals.
  • Practice Makes Perfect. Anyone who masters a sport, skill or talent continually practices. They stretch and grow by finding new techniques, approaches, and strategies. No matter what you’re trying to achieve, consistently push to find ways to practice and improve.
  • Study Others. Whether it is a new marketing technique or a creative tactic you’ve never tried, there is always something to learn. Find best practices and up your game. Study the masters and learn from the experts.

If you want to be successful, you cannot be stagnant. You have to learn new methods, test them and find the ones that work for you. What methods do you use to continually learn?

One way to learn about new markets and unique product offerings is by using our FREE dashboard. When you sign up, you can access more than 150 markets and 40+ unique product offerings, as well as HR Consulting Services to set you apart from your competitors. The tools are free. The commissions are higher. You have everything to gain. Sign Up Today!

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How to Eliminate Cost Objections

by | Oct 10, 2017

You’re at the finish line, it is the last few minutes of the “game,” and you’re ready to hit a touchdown. You’ve worked hard to get here. You’ve researched the cost of several quotes and presented options. Your client is reviewing your insurance proposal, and you’re eager for them to sign on the dotted line.

And suddenly, everything comes to a screeching halt.

Your client has objections is concerned about the costs of your proposal.

Here’s the good news… You haven’t lost the deal. Your client still has an interest in what you’re offering but simply needs additional information. Or maybe – like most people – your prospect is trying to see what kind of bargain or deal they can get from you.

Here are ways to navigate the conversation successfully:

Pause Before Responding. Silence does a couple of things. It allows you to collect your thoughts. And it provides an opportunity for your client to fill the dead space with words. This approach is tried and tested. Many people can’t stand the silence and will jump to fill the void by sharing things they may not have readily offered – just to fill the gap.

Ask About Other Concerns. If they don’t fill your brief pause of silence with additional thoughts, ask them “What else is of concern?” Their response not only gives you additional insight but it allows you to connect with your client on a deeper level by showing you care.

Summarize What You’ve Heard. Respond with phrases like “those are great points” or “I understand your concerns.” In doing so, you’re making them feel validated. Parrot back the objections they’ve stated. For example, if they say, “Can you give me a discount?” You’d respond with “I understand you’re concern about the rate. You’d like a discount?” Typically, the customer will tell you exactly what they need.

Showcase the Benefits. Remind the prospect about the value of what you’re offering and how it helps them meet their needs and goals. Focus on how much money your insurance quote will save them. Tell stories of how working with you for insurance coverage has helped other customers. Always be armed with testimonials and case studies that showcase the value received by others.

Tout Your Key Differentiators. Share with prospects what they get when they do business with you. Let them know about the tools you use to help them get the best quote options and the additional services you offer. (If you’re using Syndicated Insurance Resources free dashboard – you’re able to access more than 150 markets and 40+ unique offerings quickly. You can also offer HR Consulting services on demand, and much more.)

Want more ideas on how to respond to “It Costs Too Much?” Download our tip sheet.