As an insurance agent, you must know the importance of closing sales. Closing is the process of moving them off the dime. Many have suggested strategies that are less overtly artificial, based instead on collaboration and trust building.
It often involves a series of discrete steps. You often need to break through logjams. This lead to buyers having second thoughts and non-buyers generating negative word of mouth for the agent. By contrast, the collaborative or modern approach relies on building trust and rapport. The sales technique focuses on uncovering people’s problems, helping them to acknowledge them, explaining potential solutions and securing agreement to buy an appropriate one.
When you educate the clients on the best way to address risk problems, presented as various insurance solutions to consider, the naturally involves from there. Agents favor the discovery process over on one way communication. As you develop more experience, you might opt to use a more collaborative, trust-building approach that strives to position you as a trusted advisor. By helping people understand their risks and available insurance solutions, you no longer need to pressure them to buy. With your guidance and gentle encouragement, they often close themselves.
The assumptive close
After you finish your presentation and do one or more trial closes, simply assume the person is ready to buy. Some might even take offense that you tried to pull a fast one. So always recognize that with this close, you’ll balance greater efficiency with the potential of antagonizing the prospect.
Also read: What is MGA in Insurance?
The summary close Sales
With complex risks and insurance products, you might want to review the main features and benefits of the product before asking for the sales. The trick here is you don’t want to rehash your entire presentation, especially for a complex product. Just zero in on the high points that most resonate with the prospect’s self-expressed needs. Then after your finish summarizing the product, pivot to the close.
The Ben Franklin close Sales
This technique is for complex products or for when a prospect seems to be having a difficult time making a decision. It involves drawing a T on a piece of paper and then putting a + and a – on the left and right of the crossbar. If there are more negatives, then you’ll need to probe to uncover the issues. Perhaps they stem from misunderstanding the product, which more education will resolve. Or maybe something else is bothering the person a lack of funds, a weak need, no urgency, competing priorities or some other issue. Discussing the negatives may resolve the person’s concerns and allow you to close the deal.