It’s the polite way of saying, “Mmmm, thanks but no thanks.”. If the client crosses his or her legs, do the same with a slight lag. Are you currently using any of these strategies? The 7 Killer Closing Techniques are tried and tested methods of closing that will help you in any sales situation. Gather the Crowd. Brian Tracy, president of Brian Tracy International in Solana Beach, California, is the author of … The Basics of Closing a Sale “Closing” a sale occurs when a client decides to pull the trigger and buy something. Now, you may need a laptop so badly that you do spend a lot of time weighing the options, browsing reviews, looking at customer ratings, and checking out the specs on different models. 10 Questions You Should Ask a Field Marketing Organization (FMO) Before Contracting. For example, “Mrs. Your email address will not be published. Join our list and we'll send them right to your inbox. Have you ever turned your body toward the door when you were ready to get the heck out of a conversation? You can read more about that in the 8-step selling process. “Really, I am kind of surprised you picked that number. Not me selling you something. Five Sales Closing Tips for Insurance Agents. Another person may be buying a specific policy for the first time so they want to make sure they have all their ducks in a row. The idea is that you create a sense of unavailability to the product. Regardless what type of insurance you sell, the common objective remains to increase sales and your pipeline. At all. I wouldn’t go a day without this protection. In a previous blog post on closing (read here) Mark Reilly presents us with the 1-10 closing technique. Have you ever found yourself saying a phrase that your friends always say? Now, there is an important distinction to make here. It’s important to choose your words wisely. That statement is saying, “The recovery care add-on is so common that I now ask everyone if they want to add it on.”, People want what everyone else has. We use many of these psychological hacks in our personal relationships, so why not transfer those to business? You need to follow up with prospects. So be cautious with this one, and use it sparingly. [READ MORE: The Beginner's Guide to Selling Medicare Supplements]. No single technique will work in every situation, so it’s good to have a few options based on the situation and your prospect. Your client is much more likely to think the rate is very reasonable in this circumstance. We do this so that we can have some common ground with other people. Required fields are marked *. Videos to show the prospect what they can expect from doing business with you. My Attempt at Life Insurance Humor And perhaps it is. The class sighs and grumbles and complaints fill the room. Closing techniques are numerous, but choosing the right ones will help you reach your sales goals. Learning from my experience working with the sales people in my last agency to my own personal experiences, I have found that there are some tactics that are powerful and some that simply do not work. When we bring this technique into your closing process, it can look something like this: “Let me just pull up a quick rate calculation for you… it looks like it’s going to be about $10,000 a year.”, The client looks at you with wide eyes, and you jump back in and say, “I’m kidding. Master this skill and increase your income We use psychological hacks every single day — whether we realize it or not — to get what we want. I do not like being “sold.” Techniques designed to trick people into saying yes or scaring people into saying yes are not good for long term business. An hour presentation, without a sale and loads of sweat is common. Have you ever found yourself kissing your Belgian friend on the cheek instead of shaking hands? Some fit certain selling situations better than others. Techniques > Sales > Closing Techniques. Check out what John Hockaday and Jeff Sams have to say on the subject: A lot of us have gotten used to selling on price rather than value. Think about it: you can have complete financial control over any possible misfortunes in your life. 10 Psychological Hacks to Close More Insurance Sales, How to Sell Insurance to Logical Thinkers, How to Cross-Sell Final Expense to Your Current Medicare Clients, The Beginner's Guide to Selling Medicare Supplements, The Best Way to Get Better At Selling Senior Insurance, What to Do When a Med Supp Client Moves to a New State, My Experience Selling the New Lasso Medical Savings Account (MSA) Product. The summary sales closing can even be used for online sales. Salespeople have come up with a number of closing techniques to help soften prospect resistance and put them in a buying mood. Instead of saying, “You’re getting amazing protection!” you’re going to say, “You could lose $8,000 a month if you don’t have this protection.”, Instead of saying, “You’ll finally get peace of mind!” you’re going to say, “as time goes on, your sense of stability and financial protection will disappear.”, Instead of saying, “This product will cover up to 1 year at a nursing home,” you’re going to say, “This product will save you from losing your home, because 1 year at the nursing home can cost up to $100,000.”. The center piece of "closing insurance sales" should start after your chit chat is done, and once you sit down at the kitchen table. Every call is different and using the right close in the right situation is a sure fire way to not only improve your results but to also get and keep satisfied customers! Video conferences so they can “touch” and “feel” the policy. This technique allows the buyer share why they want to buy and also balance that with addressing if it is worth it where the benefits outweigh the risk. Create that imitation factor by making it apparent that it’s very common, and that most people won’t leave home without your product. Depending on your sales style you can implement video to help close in a number of ways: Using video makes it seem like you’re there and a real person. I found this “killer” closing strategy to get your clients off the fence about taking that life insurance policy. So how are you securing your quote? In fact, when you tell her she needs to get dressed, she screams and flails around. How do you fight against that natural suspiciousness? Save my name, email, and website in this browser for the next time I comment. Remember that as an agent, it is not necessarily your job to sell policies but to connect people to a policy that works for them. The point of a closing technique such as this is to allow the buyer to see for themselves why they are buying or why they do not want to. If you notice that the person starts shifting more and more often, stop mirroring them immediately. This field is for validation purposes and should be left unchanged. 12 sales closing techniques to win every sale. By creating this FAQ you can help answer questions 24/7 with your video FAQ. Imagine if you slipped and fell on a piece of ice. >>The 8-Step Closing Process: How to Go From Stranger to Happy Customer. This technique allows the buyer share why they want to buy and also balance that with addressing if … Killer Closing Technique for Life Insurance Agents. Luckily, building out sales techniques isn't a new concept, and there are many tried and true methods that you can add to your repertoire. Life Insurance Agents – Looking to close more sales? hbspt.cta._relativeUrls=true;hbspt.cta.load(4910070, '28b2994e-b44b-4c60-84f1-e02417394794', {}); Here’s a little test. If you want help with the strategies we blog about and use at inBuzz, then let’s talk. But what if you started with the final step, asking for referrals? So, here are a few examples of how this might look: With shame, you’re focusing on the negative consequences of not purchasing insurance. Brian Tracy: Sales Tips for First-Time Entrepreneurs. Closing Techniques . Selling Insurance and Closing the sale can be more profitable if you learn this powerful closing technique called – “Closing on the Objection” It is a way to take the clients objection and turn it into powerful closing technique. If they are not a fit, you will struggle to close the deal and even if you do close the deal it’s going to be a struggle keeping them long term. Help the buyer see for themselves why they are buying from you instead of convincing them. From branding the customer experience, to following up and sealing the deal, video is powerful in the sales process. These sales presentations are meant to educate your client on your products, and how they perform. Your email address will not be published. It is the backwards closing technique that starts where most sales end. 1) Apology closing. Sometimes people just forget to email you back, or sometimes people are having second thoughts. These closing techniques can be quite powerful and should be used only as appropriate. [READ MORE: How to Cross-Sell Final Expense to Your Current Medicare Clients]. If you want to close more sales for life insurance, then you must go a step further and help your prospects to want to ‘FIND THE MONEY!’. When used correctly over a sustained period of time, their application in sales calls and meetings has been found to significantly increase sales for the organisations and people we work with. Create a video FAQ. It is at this point that we start the interrogation process, as I call it, and is the most critical part of the interview. However, what if it was something that you thought you could put off? Every buyer has different triggers, and the only way to identify the right one is to listen. Closing Techniques in Sales . For many people, insurance falls into that category. If the client says a certain phrase often, use it once or twice when you speak. Just as long as they truly are a good fit. Someone’s insurance rates may have risen so they are on the fence about switching. This is sort of insurance sales 101 but is often ignored because, well honestly, we all want to close sales. This gives them the confidence to move forward and will help start a sustainable business relationship. Make sure they are comfortable saying yes, if not find out why. With altruism, you’re focusing on how this product will benefit other people. Call within the first hour. But for you, lots of options is synonymous with no sales. You have important information for your prospects and clients, and forcing them to realize what they’re missing out on is ultimately your responsibility. Think about the relief your children will feel when they know that the funeral costs are covered. If you really think about, we do this already. Closing techniques are good in selling life insurance: Friends may always healthy. Too many options has stifled you into putting it off. A streamlined experience will lead you to more relevant sales. This time I will discuss a good Closing Techniques in selling life insurance. That’s why reps need to be equipped with a set of proven closing techniques adaptable to any selling situation. While these various sales closing techniques can help you make a sale, it goes without saying that a single closing technique doesn’t work for every prospect – It’s not magic. This article is for closers, Shown is how insurance sales reps can close fast and obtain more sales. …ok, so maybe this won’t really help you to close more insurance sales. 5 Powerful Strategies for Closing Insurance Sales, Understand the journey the buyer is going on. We are naturally suspicious people. Don’t bombard your prospects with decisions. Do be warned though. Closing Secret #3… "Help Prospects To WANT To Find The Money!". Closing a sale should really come from a mutual agreement. Based on what you had said in our conversations I had you more as (insert the number, higher or lower), “It looks like you have a number of reasons to move forwarded. This sales closing technique can give you a better idea of how close your prospect is to purchase and what barriers may still stand in the way. There’s no doubt that it would be a very difficult time for your family. What doesn’t work for you? Salespeople make their living by selling products or services to customers. Life Insurance Closing Techniques - The Sales Presentation. Even the most successful insurance professional can hit a bump in the road now and then when it comes to sales. You want to nudge your prospects through the decision-making process as quickly as you can, but as genuinely as you can. This is an older video, but there are some good examples: Sometimes, we just need a little extra bit of sales knowledge to boost our chances of closing that tough sell. As with everything else, you don’t want to go too far at the risk of being obvious and somewhat creepy, but there are a few things you can do. Most sales professionals were taught that sales cycles followed a predetermined number of steps, with step one being the "prospecting and qualifying" step. Outdated Insurance Closing Mistakes Are Killing Your Sales! If you don’t already have an easy-going and somewhat humorous personality, this can come across in the wrong way. However, not all sales closes are created equal. The summary is another of the sales closing techniques that make it hard for the customer to offer any objections to what your company has to offer. If you’re wondering how this applies to selling insurance, just stay with me. Not me selling you something. If you give people a few options rather than a request to do the thing in the first place, they’ll be more likely to do what you want. It sounds silly, but here’s a good example to bring this psychological hack to reality for you. (you can see the complete form of the 1-10 close here). Pulling on our heartstrings is more likely to get us to: There are many more things on this list, but humans are built to feel. In this scenario, no just isn’t an option. You need to agree with the terms to proceed. Grow your pipeline with these selling insurance techniques. You are trying to steer them in the right direction, and you’re trying to do it faster. If you are trying to convince your prospects to do business with you then you are not closing in a meaningful way. Feature Blog Posts And another person may be at the final hour and need a policy signed by the end of the day. hbspt.cta._relativeUrls=true;hbspt.cta.load(4910070, '91fa4fd4-bb7d-4167-ae06-eb0b819f4544', {}); Do Independent Agents Really Need a Field Marketing Organization (FMO)? This is when the "right way" closing pyramid concept should be weaved into your presentation. Mirroring someone else’s behaviors has been seen to increase sales. 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