Jeff G
Insurance Sales
Posted 9:51 AM on 01/22/08 -
Reply to this postAh, insurance. I'm with you on this one. Remember that a new client in our line of work has to fire their old agent in order to work with you. They can like you and everything you do, but if they aren't willing to step up and fire the other guy, you're out of luck. If they aren't willing to fire the incumbent agent, they will always find an excuse to retain them.
I recommend researching "The Wedge" sales technique. I do not use it, but it's good theory and will help you understand how these relationships work and what you can do about it.
You can also ask them, when you're wrapping up the deal, "Of course you know that you're going to get a call from... What do you plan to tell him?" Help them rehearse the firing process so they aren't so apprehensive about it. It could be that they really do like what you're providing, they just feel uncomfortable hurting the other guy's feelings.
I also use a "try it" approach. I tell them that a lot of people think they have a great agent until they see what we can do. I tell them that, although no one has taken my up on it yet, I'd be happy to help them move everything back to their old agent after the first year if they aren't happy. That makes them feel a little better that they aren't making an irrevocable change.
I hope that helps. Insurance can be a tough market, but there's money in it for those that can make it happen.
kc
Insurance Puzzled
Posted 7:58 PM on 01/29/08 -
Reply to this postShad, her husband is very loyal to State Farm; however what is really strange is that she makes the financial decisions. The office that they are dealing with has new staff and she doesn't ever talk to the principal agent. She didn't even have a contact in the office that she feels like she had any kind of a relationship. I think that you may be right in the fact that it was easier to stay there and probably got a price that was equal to mine. Two things have me stumped a bit. One is the fact she had to call their office to get them react to her needs. The reason that I caught her interest in the first place was by asking: " If you were not getting the overall best value in the way of coverage, options, new benefits that may be offered by your company or even the most competitive price, how would you truly know? ( Thanks Jeffrey):) The second is the fact that the first product that we spoke with her about and sold to her was with my Financial Specialist. She had wanted to speak to someone about her personal finances and retirement needs. In the world of insurance that usually comes after a really solid relationship and trust exists. I was listening to Jeffrey field a question from a customer that was attending one of his teleconferences. The question that Jeffrey was asked caught him off guard. A guy asked him what the most powerful question that he was ever asked form someone. His financial planner asked him about his personal advisors, who they were and how they came to be his personal advisors? I don't go about asking people in that exact way when trying to ask about their retirement goals?I will let you know her response after I speak with her. I see her three times a month. I have a question if you don't mind answering it. What makes your wife viciously loyal to USAA and what attracts you to Allstate other than you have Allstate agent friends? Have you ever just asked your wife to sit down with one of your agent friends and just look and compare?
kc
Insurance Puzzle
Posted 8:04 PM on 01/29/08 -
Reply to this postI really like the bit about when they call their agent back and tell them what's going on and training the customer on what to ask and say. Where would I go to find the best information of the "Wedge sales technique?
Lacy
New to Sales
Posted 8:47 AM on 01/16/08 -
Reply to this post
I'm new to sales! Fresh out of college, young, and fairly inexperienced. I work for an Agricultural company selling seed, chemicals and fertilizer. Heres my situation. I was given 25 of the smaller accounts, which is alright because I'm new. Right now is the time to be out there selling these products because spring planting is coming soon. My boss wants me to wait to call on anyone until he feel comfortable with me. I am also part Adm. Assistant. So I am sitting here trying to learn all I can and my customers are out there with no one calling on them, except for the competitors. I want to at least go meet my customers and tell them I am here at the office if they need anything. I'm new and I'm learning but I will help you with anything, and if I don't know I'll find out. Would this be too much to ask of my boss? Should I just sit and learn for a year and wait till next growing season? I'm a young lady who is full of energy and personality!! I'm getting pretty antsy. I need to prove myself somehow. I guess I just feel like a waste of good talent sitting in the beck shadows. Do you have any advice for me?? Thank you!!
Shad M
Ideas
Posted 11:39 AM on 01/16/08 -
Reply to this postLacy,
I think it is a great idea, calling them to say "hi" and let them know someone is there for them. If you boss doesn't see that as valuable, quit. Take someone with you who does know the products thereby eliminating his need to feel "comfortable".
Also, get Jeffrey's "Little Red Book of Selling" and read it every day. It is full of ideas that will help. Just showing up to introduce yourself is good, showing up with a fresh new idea, some great offer, or knowledge that will help the customers is waaay better! Be creative and think "what would it take to make me excited if I was a customer". Example: Do you get excited when shopping for clothes and the salesperson comes up and half heartedly says "can I help you". Usually you say what we all say "no, I'm just looking". What if that person said "What brings you here today?" You say "I'm just looking" and they follow up with "I just got done reading the latest in fashion trends for 08', let me show you some new garments and see how you like them". Wouldn't you at least be curious? I would (and I don't shop for clothes, I am guy). My point: Adapt something like that to your business. It makes all the difference and will jump start your career.
Jeff G
Go Get 'Em!
Posted 11:20 PM on 01/16/08 -
Reply to this postLacy, First of all, you've got the right attitude and you're smart to realize that your competitors are probably out there calling on your clients, even if they're the smaller ones. Maybe your boss would let you go out and try to create some new prospects and work them? It sounds like he or she is concerned that you'll lose a valuable account because of your inexperience. That's somewhat valid, but that reasoning wouldn't apply to new business, so maybe they'll let you start there. Stay energetic, stay focused and most of all keep learning more and more about selling in general and your industry in particular. If they still don't see a need to use you, perhaps you could find a company that can. I know in my business I'd appreciate someone with your aggressive, positive attitude and they should, too.
ratway@webercarpet.com
new to sales
Posted 1:31 PM on 01/22/08 -
Reply to this postLacy, the first you could is start calling all of your new customers and announcing that you'll calling on them in the near future. You could ask them if is anything you could for them while you're still in the office, send samples of new products that are coming out this spring along with any appropriate literature. Be pro-active with these smaller accounts. Many times small account aren't small at all, they're just not buying much from your company. Create an electronic bulletin with these accounts of yours. They are your customers you know. Send them information about your company that you feel will help you create your own value with them. Let them know what's going on inside your company that will help you create that "reason to buy" from you. Ask your boss for some specials that you can e-mail out just in time for the spring planning. Don't wait for your boss to get comfortable with you. Show him or her that you have the self-starting energy it takes to be successful. My guess is if you start now with these people you've never met they will feel like they already know you once you make that first trip out of the "nest". You can be creating value for yourself and your company with these account even before you meet them. All the best. Jerry ratway
Jeff G
What Now?!
Posted 8:40 PM on 01/15/08 -
Reply to this post
I've made a successful cold call on an account I very much want. I've met the decision maker, found out that they have a supplier they're happy with (in my line, they always do.) I've introduced myself and I've followed up with a great letter hitting a few brief bullet points about how we can do a better job than their current guy.
So what now? I'm not sure how to proceed in a way that's going to head in the right direction. I'd like to provide value first, like we've all read about, but I'm not sure how I can do that.
Unfortunately in the insurance business, I can't convince them to give me a small trial order to try out my product. If they're going to work with me, sadly, they have to be prepared to fire their current guy. It's often difficult to get someone to give up the relationship they know, even if it's a mediocre one.
I'd love to hear some thoughts on this one.
Shad M
Testimonials, drip campaign, and truth
Posted 11:30 AM on 01/16/08 -
Reply to this postHere's one that works for me...send out video testimonials on a USB drive with your logo on it. The testimonials should be "specific". For instance, have one of your customers say "I was with so and so agency, then I met Jeff and because of his service, forward thinking, new ideas (or something like that) I decided to give him a chance. I have never regretted this decision. If Jeff stops by, you should let him do for you what he did for me". I'd say 10 of those or so and the prospect might start to think about changing. You may have to spend a little $$$ for good quality video production, but the reward is 10 fold. As Jeffrey points out, video never has a bad day, forgets something, or screws up. Its like having a "magic salesperson" with you at all times. Post them on your website, link them in your monthly newsletter and so on.
Another idea is to call the prospect, thank him (or her) for their time, and then ask if you can feature them in your CEO spotlight section of your website or newsletter (hint: you have to have one first). That gets you in front of them again. Another idea is to simply add him to your drip campaign and keep "touching" him (or her) monthly, quarterly, or whatever the interval is. Lastly, if you think you have no shot at winning the business anyway, I'd call him (or her) and ask very plainly, "what would have made it easier for you to say "yes" to me?" Find out the reasons "why not" and you will be better next time. Sometimes it is brutal to hear the answers, but I have never had a lost opportunity hold back the truth. Armed with this knowledge you'll be better and better over time....Go get em!
Jeff G
Thanks
Posted 11:16 PM on 01/16/08 -
Reply to this postShad,
I'm glad this is anonymous so you can't send me an invoice. We're trying to figure out how to do video testimonials. Someone has to really love you to say it on-camera and it's hard to find a professional way to ask.
I'll stay with my "drip" campaign and look for excuses to initiate contact over time. I also like your blunt "What would have..." question as I'm always in the market to learn more. I'm old enough to know I don't remotely know everything, but young enough to think my best years are still ahead of me. Thanks for your help.
Shad M
No thanks needed!
Posted 4:43 PM on 01/17/08 -
Reply to this postI wouldn't charge you even if I knew you, I'd ask you for a referral! You'd be surprised how open people are to doing video if you make it worth their while. If they won't just do it because they love you, say "we're going to put this on our website, so at the end of the testimonial, let's have you shoot your 30 second commercial. This way you get some added exposure, thats fair right?" You just offered FREE web advertising, do you know what that is worth? Try it, YOU WILL KILL YOUR COMPETITORS! It's fun.
(I want to make sure I credit Jeffrey Gitomer for this stuff. I didn't come up with the idea of "specific objection video testimonials", he did ad I read it in his book. I'm shooting two next week!)
John
Getting started cold calling and marketing
Posted 10:58 AM on 01/11/08 -
Reply to this post
Good Morning! I am the director of Marketing at a New Collection Agency and am trying to jump start this new business. I have requested 5000 sales leads and want to make the best of them by pulling in some new portfolios. I have plenty of experience selling and cold calling and don't mind doing it at all...I have The Sales Bible and have used it in many of my trainings over the years with my own teams. I have never started from scratch and wanted to find out if any one can give me any insight on building this thing!! Thanks so much!!!
Jeff G
You Already Have the Best Tool
Posted 2:34 PM on 01/11/08 -
Reply to this postThe Sales Bible has almost everything you need. I know it's the most-dated of Jeffrey's stuff, but it's my very favorite as a reference tool. Check out the chapters on cold calling, since you'll be starting from nothing and working your way up. The thing I like about the technique he describes is that it can be done in person or on the phone, it gives you (as the salesman) a lot of information and it's not disingenuous or manipulative. Nobody's going to feel like you tricked your way into their office or onto their phone.
Shad M
I'll try to help
Posted 3:13 PM on 01/11/08 -
Reply to this postI'd need to know more about what you actually do, what your angle is, and what you use to differentiate yourself. Bottom line is you help people collect money they are owed. I'd make sure your company can do it in an ethical and helpful manner, not bullying people and making threats as is commonly the case. I'd spend some time on the "floor" with the people making the calls to the people who owe, see what they do and how they do it. Maybe you'll learn something you can use as a "benefit" to talk about. You could even record the calls (if they cant record their calls you need to call me so I can sell you a system that does) and use them on a USB drive with your logo on it. Give them out and say "this is how we collect YOUR money", listen for yourself....
I don't know much about the business so maybe this sounds dumb to you. But hey, you can always cold call. Thats a good use of your time, NOT!
