- Review all closed proposals for ‘wait to do’ items.
- Spend 2 days on your calendar closing lingering pipeline proposals.
- Offer options the prospect can chose from. Two options, one good and 2nd one better.
- For all proposals closed through the year, go back and up-sell add-ons you thought would inflate your original solution. Did you leave off Employment Practices Liability Insurance (EPLI) or Cyber?
- Sell one more policy to each household or account.
- Conduct a review meeting with your top 8 clients. Schedule the 8 appointments for one focused week and if time allows, schedule the next tier of 8 top clients over one additional week.
- Look for clients with remaining budgets. Don’t leave anything on the table; clients are considering taxes and their 2014 budgets.
- Remind clients you welcome referrals; then ask for them.
- Call every client you haven’t talked to in the last 90 days. Offer your assistance as they plan for 2014.
- Call all the prospects that have been pushing you off – start a conversation – ‘has anything changed?’ or ‘checking in with you for yearend updates.’
- Review your forecast and identify the steps to close everything – then execute!
- Enlist you manager’s support with roadblocks holding prospects back.
- Enlist collaboration partners’ support with closing tough prospects.
- Prospect hard through OCTOBER. (focus 1 day each week)
- Stay your goal – don’t stray or be distracted. Take tings off your plate and delegate to staff so you can find and close more business.
Wednesday, October 9, 2013
15 Tips for 4Q2013 Success:
Finish 2013 Strong so You Can Start 2014 Right
The end of the year is right around the
corner, which means there’s still time to finish strong!
One of the most important reasons for finishing strong in 2013 is it becomes a springboard for starting 2014 right.
I always find it ironic that at this time of year, many agents either go into panic mode or they go into coasting mode.
If they go into panic mode, it’s because they are now feeling a sense of urgency to make their annual numbers. The problem with panic mode in the sales world is that agents tend to do stupid things.
Mainly, they offer too many discounts or other concessions (strip coverages) that ultimately destroy profit and diminish the confidence the customer has in the agent and/or the policy protection.
If, on the other hand, they go into coasting mode, they start doing an internal dialogue with themselves that is along the lines of, “If I can’t hit my numbers in 2013, I’ll just make up for it in the first quarter of 2014.”
Don’t get me wrong — I want you to hit the gate running in 2014. I just think if you coast now, you won’t be able to psych yourself up enough to compensate for your poor performance in the 4th quarter of 2013.
My suggestion?
Don’t panic. And don’t coast.
Instead, begin right now to mine your current customer list and your prospecting list. Set weekly goals that are slightly above the goals you would normally have for this time of year.
Stop “preparing” to make calls, and just make them. Challenge yourself to make at least 5 phone calls before 9 a.m. each day.
Even if you feel you are skilled at questioning, review your current list of questions and add at least 2-3 more questions that will better reveal the customers’ needs and pains.
Believe that you can get full price. If you are like many consumers, you may associate the 4th quarter with deep discounts and holiday sales. The only way you are going to break that association is to replace it with something else. I suggest you replace it with the belief that not only can you get full price, but that you are worth full price as your clients’ trusted advisor.
Stop hanging out with negative people. If there are negative colleagues in your office with whom you daily connect, change your routine or simply consume yourself with being on the phone with prospects and customers.
You cannot afford to have negative people moving you into panic mode or coast mode.
The above are just a few suggestions that will help you finish 2013 strong so you can start 2014 right. I’m sure you could come up with additional ideas that more uniquely fit your selling situation.
I have 15 additional tips I'm willing to share with you. Let me know what I can to to remove the roadblocks holding your prospects back.
One of the most important reasons for finishing strong in 2013 is it becomes a springboard for starting 2014 right.
I always find it ironic that at this time of year, many agents either go into panic mode or they go into coasting mode.
If they go into panic mode, it’s because they are now feeling a sense of urgency to make their annual numbers. The problem with panic mode in the sales world is that agents tend to do stupid things.
Mainly, they offer too many discounts or other concessions (strip coverages) that ultimately destroy profit and diminish the confidence the customer has in the agent and/or the policy protection.
If, on the other hand, they go into coasting mode, they start doing an internal dialogue with themselves that is along the lines of, “If I can’t hit my numbers in 2013, I’ll just make up for it in the first quarter of 2014.”
Don’t get me wrong — I want you to hit the gate running in 2014. I just think if you coast now, you won’t be able to psych yourself up enough to compensate for your poor performance in the 4th quarter of 2013.
My suggestion?
Don’t panic. And don’t coast.
Instead, begin right now to mine your current customer list and your prospecting list. Set weekly goals that are slightly above the goals you would normally have for this time of year.
Stop “preparing” to make calls, and just make them. Challenge yourself to make at least 5 phone calls before 9 a.m. each day.
Even if you feel you are skilled at questioning, review your current list of questions and add at least 2-3 more questions that will better reveal the customers’ needs and pains.
Believe that you can get full price. If you are like many consumers, you may associate the 4th quarter with deep discounts and holiday sales. The only way you are going to break that association is to replace it with something else. I suggest you replace it with the belief that not only can you get full price, but that you are worth full price as your clients’ trusted advisor.
Stop hanging out with negative people. If there are negative colleagues in your office with whom you daily connect, change your routine or simply consume yourself with being on the phone with prospects and customers.
You cannot afford to have negative people moving you into panic mode or coast mode.
The above are just a few suggestions that will help you finish 2013 strong so you can start 2014 right. I’m sure you could come up with additional ideas that more uniquely fit your selling situation.
I have 15 additional tips I'm willing to share with you. Let me know what I can to to remove the roadblocks holding your prospects back.
Wednesday, October 2, 2013
4 Reasons that Your Follow-up Fails
Why is following up so difficult? Insurance
agents today often struggle to follow-up and prospects continue to fall through
the cracks. Here are four reasons why:
1. Lack of prioritization
If you’ve been in insurance sales for a while it is impossible to touch everyone personally by telephone. You simply don’t have the time. Many agents, however, treat every prospect exactly the same way. They follow up with every prospect in exactly the same manner. They follow up with teeny tiny opportunities the same way that they follow-up with huge opportunities.
The harsh reality is: All prospects are not equal.
All prospects do not require the same follow-up. Spend the bulk of your follow-up time with those prospects that are most likely to buy from you.
2. Lack of organization
Following-up effectively takes organization. You need to know which prospects you are following up with, what has already transpired and what the next step is in your sales process. Appropriate software solves many of these problems. Today it is simply too difficult to rely on Excel spreadsheets or your notebook.
3. No system
In order to follow-up effectively, you’ll need to determine: How will you follow-up? What are your goals for each communication that you have with a prospect? How often should you contact your prospects? When should you let a prospect go? These questions, along with many others, need to be answered before you even begin. Most do not take the time to develop their process and so are left winging it every time. When you have a process in place with scripts and templates it is much easier and far less time consuming to reach out to the prospects you need to contact.
4. Fear
The fear of rejection can keep insurance agents from following up adequately, or at all. Many worry they are being “too pushy” or think, “If the prospect is interested, they’ll call me.” Some fear the anticipated devastation of having a prospect say, “No.”
Prospecting and follow-up are business transactions. Prospects may say “no” to your offering. They are not saying “no” to you.
Failed follow-up can be fixed. One by one, step-by-step, take each of these reasons and address them. Eliminate these reasons that your follow-up is failing and see the results in your bottom line.
1. Lack of prioritization
If you’ve been in insurance sales for a while it is impossible to touch everyone personally by telephone. You simply don’t have the time. Many agents, however, treat every prospect exactly the same way. They follow up with every prospect in exactly the same manner. They follow up with teeny tiny opportunities the same way that they follow-up with huge opportunities.
The harsh reality is: All prospects are not equal.
All prospects do not require the same follow-up. Spend the bulk of your follow-up time with those prospects that are most likely to buy from you.
2. Lack of organization
Following-up effectively takes organization. You need to know which prospects you are following up with, what has already transpired and what the next step is in your sales process. Appropriate software solves many of these problems. Today it is simply too difficult to rely on Excel spreadsheets or your notebook.
3. No system
In order to follow-up effectively, you’ll need to determine: How will you follow-up? What are your goals for each communication that you have with a prospect? How often should you contact your prospects? When should you let a prospect go? These questions, along with many others, need to be answered before you even begin. Most do not take the time to develop their process and so are left winging it every time. When you have a process in place with scripts and templates it is much easier and far less time consuming to reach out to the prospects you need to contact.
4. Fear
The fear of rejection can keep insurance agents from following up adequately, or at all. Many worry they are being “too pushy” or think, “If the prospect is interested, they’ll call me.” Some fear the anticipated devastation of having a prospect say, “No.”
Prospecting and follow-up are business transactions. Prospects may say “no” to your offering. They are not saying “no” to you.
Failed follow-up can be fixed. One by one, step-by-step, take each of these reasons and address them. Eliminate these reasons that your follow-up is failing and see the results in your bottom line.
10 Tips for Leaving a Good Prospecting Voicemail
Voicemail is a tool you
can use in prospecting.
Key is to leave a voicemail that reflects you in a positive manner. This does not mean you leave a message about how great you are. Instead, you leave a message that offers the other person something of value.
Key is to leave a voicemail that reflects you in a positive manner. This does not mean you leave a message about how great you are. Instead, you leave a message that offers the other person something of value.
Here are 10 Tips for
Leaving a Good Prospecting Voicemail:
1. If your goal is to get the phone
call returned, don’t leave enough information to allow the person to make up
their mind. Leave them with only enough information to return the call. (You
must create a reason.)
2. Repeat your phone number twice.
If the person can’t write your number down easily, you’ve given them a perfect
reason to not call back.
3. Messages left on a Friday
afternoon are the least likely to be returned. For most people, Monday mornings
are very busy and, as a result, only high-priority activities will get their
immediate attention.
4. Do not leave voicemail messages
at odd hours of the night.
5. The best hours to leave voicemail
messages are from 6:45 AM to 8:00 AM and from 4:30 PM to 6:30 PM.
6. Voicemail messages are an
excellent way to introduce yourself to a person. Be personable, yet
professional, and link your message to something of interest to the person you
are calling (such as another person or event).
7. When leaving your phone number,
do not leave your website or email address as well. This will only give the
person an opportunity to make a decision about you without calling you back.
8. Use the person’s first name at
least twice in the message.
9. Avoid leaving messages that are
longer than 20 seconds. The optimal voicemail message is between 8 and 14
seconds.
10. Do not leave the same voicemail
message more than once for the same person. Always provide them with a new
urgent reason to call you back.
Here’s a sample of a
message I might leave someone: Hi
Ron, this is Doug Myrick, Pro Advantage Services. I have some new information
about cyber coverages and controlling insurance expenses for your business. Ron,
I’d be happy to share it with you. Give me a buzz at 515.395.7715. Thanks
again! This is Doug Myrick, 515.395.7715.
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