Am I Laying My Cards Out to Early to Prospects

Labman · 06-16-2009, 10:24 AM

I think I'm laying my cards out too early to business owners when I make a cold telephone call. Here is an example:

Me:Mr. Business owner you tell me that you have been with XYZ carrier for several years

BO: Yes

Me: Well knowing the market place, I'm pretty sure I can beat the current carriers rates.

BO: Really? Who is the carrier you have in mind?

Me: I tell them that the carrier is a national company who is new in this area.

BO: Well, I've never heard of them.

Me: I then go on to tell them about the carrier.

You guys get the drift. I'm thinking that it is a mistake for me to divulge who I have in mind. But....they always ask. How can I handle this situation better? Thanks!!

dgoldenz · 06-16-2009, 10:37 AM

What is the carrier, and why are they new in the area?

Labman · 06-16-2009, 10:41 AM

I don't want to name the new carrier as they are an ace in the hole for me. But they are a national company with great product and reputation.

dgoldenz · 06-16-2009, 10:44 AM

That's pretty vague, doesn't tell anyone anything....why are they your ace in the hole? You're asking a forum full of insurance agents for help, but won't name the carrier. Seems kind of shady if you ask me.

somarco · 06-16-2009, 10:47 AM

You are being presumptuous, then evasive. No one likes that.

Me:Mr. Business owner you tell me that you have been with XYZ carrier for several years

<snip>

Me: I then go on to tell them about the carrier.

Here is a suggestion . . .

BO: Yes

Me: Are you 100% pleased with your current situation or are there areas that need improvement?

BO: They are all the same.

Me: I hear that a lot, yet those who are willing to explore their options almost always change their mind. It never hurts to look at options, does it?

BO: I'm pretty busy. How much time will this take?

See the difference?

You need to engage your prospect rather than challenging them. No one wants to admit they made a bad decision and paid more than needed.

Soft, probing questions lead to dialogue which is what you really want.

moonlightandmargaritas · 06-16-2009, 10:48 AM

Originally Posted by Labman

But they are a national company with great product and reputation.

Their reputation ain't so great if your prospect has never heard of them...

Charpress · 06-16-2009, 10:54 AM

I've made the same mistake of naming a particular product or carrier early in the game. In one case, I found out later that the prospect just went to their agent and told them what they wanted based on what I told them. I did the research and work, the other agent got the commission with about 2 minutes of time. Lesson learned.

I would be frank to the question "what carrier?" Assuming you know something about the business the prospect is running you could say something like:

"Mr. prospect, in your business would you discuss details about (insert whatever is appropriate to the business) before you had some commitment? All I am asking is to sit down for 10 minutes and show you what we have to offer. I am confident you will be pleased with what I can show you."

Anyway, something along those lines.

PS: the prospect who is not willing to do something reasonable like this was never going to be a sale anyway.

somarco · 06-16-2009, 10:55 AM

Charpress -

Is it hot & sticky in Bayou country yet? I know it is in Tampa.

moonlightandmargaritas · 06-16-2009, 11:02 AM

Originally Posted by somarco

Is it hot & sticky in Bayou country yet? I know it is in Tampa.

It's been hot here in the Cigar City, but not too sticky yet. Hot and dry - 94 today.

somarco · 06-16-2009, 11:05 AM

Yeah, I know all about that dry heat BS. Spent too much time on the trail in Orlando and Dale Mabry in the bay to believe that.

Charpress · 06-16-2009, 11:07 AM

Originally Posted by somarco

Charpress -

Is it hot & sticky in Bayou country yet? I know it is in Tampa.

I lived in Tampa for 4 years and can tell you it is about the same. We are supposed to hit 96 today. Global warming, don't you know.

Of course, we also had a record cool spring. The record high for this date was in 1929. I guess that was global warming part I.

moonlightandmargaritas · 06-16-2009, 11:11 AM

Originally Posted by somarco

Yeah, I know all about that dry heat BS. Spent too much time on the trail in Orlando and Dale Mabry in the bay to believe that.

I chew it up and spit it out. Been doin' three hours B2B cold walkin' every afternoon...not findin' any prospects, but breakin' a helluva good sweat!

Heat? What heat?

padthaiforlunch · 06-16-2009, 11:13 AM

Originally Posted by somarco

Yeah, I know all about that dry heat BS. Spent too much time on the trail in Orlando and Dale Mabry in the bay to believe that.

Doing a lot of drive-by shopping, Bob?

ABC · 06-16-2009, 11:26 AM

A sharp controller should know the carriers in the market.
If they are picking your brain you need to grab their attention very quickly on why you are the right broker.

If you get to have a conversation with owner/controller then you have made contact which is huge. Now you have a warm lead and can continue to follow up with them. Sometime it takes a few years to get a case.

Labman · 06-16-2009, 11:31 AM

Charpress,

I've had the same thing happen also. That is why I posted this question. By giving them the name upfront, then they can contact their current broker and learn all they need to from them and I get nada out of the deal.

I hate not to answer their question, need to find some ways to do so in a tactful manner. My wife says I lack tact!

somarco · 06-16-2009, 11:33 AM

You need to learn to romance the sale.

And (apparently) your wife as well . . .

Chazm · 06-16-2009, 04:13 PM

Originally Posted by somarco

Yeah, I know all about that dry heat BS. Spent too much time on the trail in Orlando and Dale Mabry in the bay to believe that.

The trail? As in OBT? I live not too far from there

ksigmtsu · 06-16-2009, 05:09 PM

Originally Posted by Labman

I think I'm laying my cards out too early to business owners when I make a cold telephone call. Here is an example:

Me: Mr. Business owner you tell me that you have been with XYZ carrier for several years

BO: Yes

A simple trick here would be to ask for the appointment when you say you can beat the carriers rates.

Me: That's wonderful, but because of a lot of changes in the industry, things have recently gotten a lot more competitive, and I would be happy to come out and do a policy comparison for you and see if I can save you some money. How does tomorrow at 9 sound?

You do it that way, you've told them they made a good choice when they made it, things have changed since then, and you possibly can help them out, and you asked for the appointment, so you can do them a favor. If they ask more tell them you represent multiple carriers, and you'll bring all the information with you when you come over, tomorrow at 9. Keep in mind here if they object with something other than "I'm not sure or im not interested in an appointment," they answered yes to the appointment until they clarify.

You also might not want to remind them that they've been doing the same thing for a long time. It sort of sets them up that they've been making a long standing mistake. People running a business don't generally have a hell of a lot of patience about being told they're making mistakes or that they've been making them for a long time, as some other posters pointed out.

moonlightandmargaritas · 06-16-2009, 05:12 PM

Originally Posted by somarco

Yeah, I know all about that dry heat BS. Spent too much time on the trail in Orlando and Dale Mabry in the bay to believe that.

It's like taking a schvitz - outdoors.

Labman · 06-16-2009, 07:18 PM

Good points as usual and I always appreciate ya'lls input and time!