5 Tips for Closing Insurance Sales
Want to know how to close more insurance sales? Of course, you do! Check out these five tips to help make your business more successful.
Closing insurance sales is a practice on which your business depends. Every sale is different, so it's essential to have a long list of tactics to help your clients make the best decision for their needs.
By telling stories, listening to clients, describing the value of each policy, and asking the right questions, you can help your clients sort through information and make a decision for themselves.
Remember, your clients need insurance – that's why they've come to you. All you have to do is lead them to a decision that provides them with the right protection.
Tell Effective Stories
Insurance agents hear many stories throughout their careers. There are stories about close calls, devastating storms, clients with coverage, and clients without coverage. These parables provide lessons to others. Your stories should describe what could happen without the right insurance product – helping light the way to protection.
Telling stories also keeps clients emotionally engaged and makes each conversation more fun for you and them. Become good at telling stories. Keep a few key stories ready to tell new clients.
It's tempting to jump into a conversation with someone by giving your standard sales pitch, but most people want to be heard before they listen to statements about insurance products.
Remember that insurance is very personal, and ultimately, you're helping your clients choose the best products for their needs. By listening to what those needs are, you show that you're fulfilling the role they're entrusting to you. You must first listen in order to choose the product or products that will serve them best.
Describe the Value
As an insurance agent, it's essential to describe the value of the products you're selling adequately. The only way to make that happen is to know your products inside and out.
Become an expert in the products you sell, and practice elevator speeches about each one. Practicing what you'll say can help you narrow down your statements about each product until they're concise and compelling.
Pay attention to the questions that your customers ask most commonly about each product, so you can start answering those questions before they come up. By providing information they care about up-front, you reveal the value and make the decision easier.
Offer a Few Choices – But Not Too Many
People like having choices, but they often stall their buying decisions if they have too many options from which to choose.
As you're speaking with your clients, make a mental note of the available choices. Narrow down the list as they further describe their situation. When you finally present a list of possible products, offer only two or three to start.
If your clients have trouble distinguishing between the few options you've presented to them, offer them information to help them make those choices. Point out highlights. Answer questions. Give summaries.
If your customer still has trouble choosing a product, you may offer more – but try to keep the conversation contained to a few products at one time.
Ask the Right Questions
You can't make the right decision for your clients – they have to decide for themselves. Sometimes clients can't make a decision until they've asked themselves the right questions.
One way to help them with this process is to pose the questions for them and give them time to answer. By asking your clients if they've considered certain aspects of their health, the vulnerabilities of their home, or the value of their vehicle, clients can better sort information in their heads and prioritize their own needs.
Know the right questions to ask in any given situation. Give your clients time to answer – don't cut them off before they can ponder the implications of a problem.
Join the Right Insurance Cluster
Insurance clusters help you streamline your business while providing partnerships with more insurance carriers. Closing the sale is easier when you've got access to the perfect product for each client. Contact us today to learn more about how Voldico carrier partnerships and services can help you close sales.