February 16, 2016

How to close insurance sales successfully ?

Every marketing personnel of the insurance company would try all tricks under the sun to promote their products / services to the prospective customers thinking that the prospective customer would buy the policy from them based on the dumping of information. However they understand little about a step in selling the policy, closing the sales. Any person involved in selling the cover could pour information about their products / services but there are few steps that will make your effort worthy by winning the customer. Let’s look at what could help you to close the sales successfully:

Listen more and talk lessClosing Insurance Sales 2
Rather than telling all the features of your products / services, let the prospective customer lead the discussion. Let them spell out their life style, family background, future plans and major concerns. Listening to them will give you an idea of what to be recommended.

Provide Solutions
Make the concept understandable to a person who does not know about insurance. Highlight them how the insurance cover will solve the problems they have or how it will compensate them in the event of a catastrophe. For example spell out how it could solve their problems. For example how the insurance cover will allow his or her kids to continue their studies in the event if he or she becomes disabled. This will make the prospect to think and buy the cover.

Benefits vs Features
Never shower the prospective customer with technical jargon. Promote the benefits of buying the policy rather than highlighting the features of the policy. Prospects look for the benefits of the investment rather than listening to the features of your product / services.

Leave Something to Remember YouClosing Insurance Sales 3
The prospects would need to weigh the pluses and minuses of the covers they are going for and they will obviously compare your products / services with that of your competitors. Hence take product literature with you which you could leave with the prospects to read when comparing the covers. At minimum leave your business card so that the prospects could contact you should they need any clarification / information.

Do Network
Attend trade fairs, conferences and meetings and network with other professionals and professionals from other insurance companies. This will be a golden opportunity for you to learn the market trends and to make connections.

Ask for Referrals
Referrals are the best marketing tool. Should you have happy customers who have benefited from you, they are the best to promote your products / services. Hence feel free to ask referrals.

Goals and Deadlines
Make realistic goals and set deadlines to achieve them. Have close ended goals which are incremental that could create success. For example “I would increase the sales by 25% by the end of the first quarter”.

Associate with Successful ProfessionalsClosing Insurance Sales 4
Connect with people who are positive and who are successful in the trade. This will motivate you to achieve your goals and be successful. Further this will give you an opportunity to get to know what works and what does not work in the market.

Learn Every Day
Every day allocate some time for you to learn new in sales and marketing to boost your knowledge and come up with new techniques in winning customers. This could be done by reading relevant books / magazines, attending webinars, etc.

Love Your Job
Love your job to be successful. Be passionate and believe in the products / services that you are selling. This will make you less stressful.


The following video provides tips on closing insurance sales successfully



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