Getting your client to say yes to your proposal seems like the ultimate end game. But closing the deal is really just a part of the process. You should consider collecting a series of approaches that you can repeatedly use for closing sales. When used right, they can help you build long-term relationships with your customers.
Ultimately, you want an ongoing relationship that can lead to repeat business over time; not a one and done experience. So, how do you make the close conversation seem natural and flow smoothly?
Insurance is about customization. Since one size does not fit all, you have to create personalized experiences by finding the right product to meet the specific needs your of your client. You also need to be well equipped with several closing techniques to fit a variety of situations.
Here are a few tried and tested approaches that you may want to add to your arsenal of closing tips.
Listen to Understand. If you carefully listen to what customer says during your interactions, you’ll know which way to guide the conversation. Once you understand what the customer wants to accomplish, you can use that information to your advantage.
Speak to Their Needs. The key is to uncover the needs of your client. Ask them “What is important to you?” If you listen carefully – they will mention precisely what you need to emphasize to help close the sale.
Create a Sense of Urgency. No one likes to be rushed to make a decision. But you can help move the decision-making process along if you share that “this rate is set to increase in the next x-number of days/weeks.” By creating a fear of losing out, you are helping to move your client towards the decision they need to make.
Showcase the Benefits. The payout or coverage of a policy is clearly the number one benefit. If you turn it into a question, you’re helping the client focus on the benefit of why they need the policy you’re offering. Ask questions like “Could a check for $1 Million help in the event you experience property damage or are held liable and sued?”
Ask Their Opinion. Ask customers “In your opinion, do you think this will solve your problem?” Their response can provide you with insights. It can also give you more time to address any additional concerns or objections. If they answer yes, you can move to asking them to sign.
Leverage Requests. Your customer may ask you to make concessions on pricing or additional terms within the policy. They may also want you to give them extra perks or free add-ons that you haven’t offered. Close the sale by saying “If I could do that for you, would you sign the agreement now?”
Be Direct. You’ve addressed your customer’s concerns and are confident your customer knows the value of the policy and services you’re offering. When you’re sure of these things, use a yes or no question to close the sale. “Are you ready to sign with us?”
Find the closing tips that work best for you. Try each one on for size. Customize them to your specific conversations. Add the ones that work for best into your closing talk tracks that you script out. With time and practice, you’ll begin to know when and how to use your closing tips.