Hitting the smaller business for life apps.

Agent5913 · 12-24-2007, 01:14 AM

As many of you know, Im captive, new and have quotas to meet unlike the career agents I work with. Im supplemental for 35 more months or until I validate my Contract of 105 Life aps.

I dont know what this tactic is called but in my small town, we strive on the 5 to 50 employee, family owned deals. So, I call the owner. Tell him who I am with, Im not selling anything. If I am "in the area" Ill just roll right in on him/her and introduce myself.

I ask if they have a group LIFE plan? Not Health, LIFE. Naturally, he will say no. I acknowledge that at no cost to him, I set down with each and everyone of his clients and offer them Life insurance at an affordable rate.

I Let him know that there is no contracts for him to sign, nothing for him to pay. He asks whats in it for him?

I say, knowing that your employees have been offered a chance to secure their lives and families because you allowed my company in his business.

Ill be honest, you dont validate, you go bye,bye. If this works on the plan that I have, I will validate in 18 Months.

Comments, suggestions, critics, you cant hurt me.

Merry Christmas.

al3 · 12-24-2007, 03:29 AM

How are YOU doing? Are you selling via their methodology?

If so, why would anyone's comments be of value to you?

Either what you do works for you... or it doesn't... and while many will try, in the end... after you learn the basics of sales.... nothing anyone says is going to make that much difference to your ability to sell and or be successful.

Al

LGilmore · 12-24-2007, 03:36 AM

"I Let him know that there is no contracts for him to sign, nothing for him to pay"

So you direct bill? Or does his payroll person have to take care of this? What is their time worth?

Remember to be successful, you need to come back to the business so make sure what you say is correct.

James · 12-24-2007, 03:52 AM

Originally Posted by LGilmore

"I Let him know that there is no contracts for him to sign, nothing for him to pay"

So you direct bill? Or does his payroll person have to take care of this? What is their time worth?

Remember to be successful, you need to come back to the business so make sure what you say is correct.

I beleive he is selling straight life insurance, not group, as in the question, "do you have group life insurance?" At least that is what it sounds like to me. Kind of confusing post though, but who am I to point that finger?

somarco · 12-24-2007, 08:38 AM

If I am "in the area" Ill just roll right in on him/her and introduce myself.

From a customer prospective, if you are "in the area" then you have nothign to do. In other words, your services are not in demand so you have lots of free time on your hands.

Time to kill with the business owner.

No matter what you say, you are sending a message that your time is not important and you will talk to anyone who is willing to listen.

You need to present an air of confidence that does not seem to be coming across in your post. You seem more desparate than anything.

You might want to pick up a new book called

"Selling Sucks" by Frank Rambauskus and read it over the holidays.

Watch this video and see if you can pick up on anything.

YouTube - Frank Rumbauskas Live, Part I

ask if they have a group LIFE plan

So . . . you are selling group life or individual life?

If you are asking the owner about GTL and then pitching individual life, this has got to be confusing.

Have you been given a script or just a rate manual and then shown the door? Either you had little or no training, or what you had was ineffective, or you have decided to reinvent the wheel.

I Let him know that there is no contracts for him to sign, nothing for him to pay. He asks whats in it for him?

I say, knowing that your employees have been offered a chance to secure their lives and families because you allowed my company in his business.

If this is your pitch then this is part of your problem.

No business owner is going to let "your company into his business" without first knowing the answer to the crucial question . . . what's in it for him (the owner).

Your pitch sounds like subterfuge. That is no way to instill confidence. Anyone can smell a pitch like that a mile away.

If you want to get somewhere with folks, you have to be straight forward. If you cannot convey the crux of your pitch in 20 seconds or less you have lost the sale before you began.

Sounds like you are selling PRD life insurance. If so, you need a smoother approach and more self confidence.

Mr. Bill · 12-24-2007, 09:30 AM

So how is Frank Rumbaskas different/better than SAndler?

The only thing I can think of is that he's got a whole bunch of "new" stuff to sell. Ever used any of his stuff?

Agent5913 · 12-24-2007, 10:29 AM

Thats why I posted it. Because I need a niche, I want to enter these companies and get in front of their employees. Yes, I do have a sense of urgency. Not desperate yet. Ive not tried this yet. It needs to be tested. Calling up people out of my BOB aint gonna meet a quota. I need an edge. I need to talk to 50-100 peope per week about life. Not Group, just me and then and the ap on the table.

Thanks for the ideas.

somarco · 12-24-2007, 11:03 AM

I can't say that one is better than the other. Rambauskus has a new book that caught my eye. Most of it is stuff I know but there are a few gems in there.

He talks about sampling, which is not as easy to do in our industry as it would be if we were in the car business (take a test drive) or wine business (here, try a taste). He says how much more money he makes by first giving away information in hopes that people will wonder, "if his free stuff is good, then the stuff I pay for must be fantastic".

He also talks about how most networking functions are non-productive. (I imagine Bob #2 will disagree). Most of the folks at these functions are sales people trying to sell to the same folks you are.

Some of his stuff is new, some of it the same, but there are a few things in the book that really resonate with me. I am 50 pages into a 160 page book and have already picked up on some things I need to incorporate into 2008 strategy.

somarco · 12-24-2007, 11:08 AM

I need to talk to 50-100 peope per week about life.

Not just people, decision makers.

The best way to get the OK is to demonstrate to the owner what you will be doing. Ask for 3 minutes of uninterrupted time to show what you can do for the employees. If you can sell him on the idea then you are in the door.

The other thing to consider is this. Owners are paying these folks to work for him, not listen to a salesman. Your service needs to be done during THEIR time, not the owners. If you have blue collar workers who take a lunch break, try a lunch & learn. For the price of a few pizza's and Cokes you can pick up a few clients (or at least get their interest) during a 20 minute lunch break.

Think of ways that do not inconvenience the business owner and do not take away from his bottom line by turning workers away from making money for the owner to making money for you.

TXINSURANCE · 12-24-2007, 11:36 AM

Tell him who I am with, Im not selling anything. If I am "in the area" Ill just roll right in on him/her and introduce myself.

Your not selling anything?

Your method has been played out for 70 years and it is a rough gig... Good luck, eventually you will burn out and realize the results are difficult to obtain. At least statistically...

SME · 12-24-2007, 11:44 AM

What you are attempting is my favorite way to get new customers. But your approach is a little rough for my taste.

No one likes to talk about life insurance. No one. If you open with life insurance you'll be thrown out. Instead start with thier business insurance, or auto, or individual health and then move into life insurance. If you try your approach I think that you will be disappointed very quickly.

To me it sounds like your biggest hurtle is yourself. You have to believe that life insurance is worth the money. If you don't your client won't. People can tell when something is just about the sale and not about them. Empathy is the key to establishing the need and the value of life insurance. Also don't sell out of your own pocket. Remember that just because the premium is huge to you doesn't mean that it is huge to them.

And RELAX!!!

Clients can tell when you are anxious. If you are writing alot of p&c then the life should be to hard to get. Remember to ask everytime you write and auto, don't say "would you like some life insurance" ask " As your agent I feel that it is my responsibility to make sure that your family is taken care of, do you mind telling me about your estate planning? Do you have a will? Have you decided about guardianship of your children, or set up a trust? Have you listed the trust as the beneficiary of your life insurance policy?" Now I have asked several questions that have made them think not about thier mortality but about taking care of thier kids. (talking about trusts makes people think that they will live to be old and wealthy, I'm not sure why)
Hope this really long post helps

Agent5913 · 12-24-2007, 01:21 PM

Originally Posted by TXINSURANCE

Your not selling anything?

Your method has been played out for 70 years and it is a rough gig... Good luck, eventually you will burn out and realize the results are difficult to obtain. At least statistically...

Well, Ok then, what do you suggest TX? What avenues can I explore to get my beloved 3-4 paid aps a month? Again, just trying to find something.

Thanks,
Merry Christmas

healthagent · 12-24-2007, 01:37 PM

Nothing wrong with walking into businesses. It works. You simply need to be fast and honest. Small biz owners don't have time for BS or some long presentation.

I've done a ton of B to B as an exclusive source of leads and still do for supplemental. I hit shopping strips all the time when I'm out and about. I have a nice flyer I hand the owner and give 'em about 30 seconds on what I can do for them.

I only do health. I don't believe there's much interest in life going B to B but then again, I've never tried other products.

If I switched to the small group health market I'd only go B to B as my sole source of leads. Pounding the phones and trying to get through the gatekeeper is a huge waste of time.

djs · 12-24-2007, 02:15 PM

Originally Posted by Agent5913

Well, Ok then, what do you suggest TX? What avenues can I explore to get my beloved 3-4 paid aps a month? Again, just trying to find something.

Thanks,
Merry Christmas

I think you somewhat missed the point here. In your original pitch, you say your not selling anything, when in fact you are. If nothing else, you are selling yourself, never forget that. Don't apologize for it. Be proud of it.

If you are doing individual, the lunch and learns are a great thing. Business owners probably won't object if you are providing a free lunch for his crew, and giving a 10 minute spiel during the free lunch. Just make sure he doesn't try to have a business meeting during your free lunch time.

Confidence is key. I had a kick in the face that reminded me of this the other day. I was selling an auto policy, and I have a whole routine I usually go through when I get a referral from a dealer. I usually know within 2 minutes what I'm looking at rate wise, but I always give them a normal quote, with what they tell me, and then proceed to get them a better rate (I work for them, they need to see this). In this particular case, I already knew the guy had an opportunity to save some significant money, but when I showed the first quote, he asked for the downpayment, and I hesitated, simply because nobody ever asks that question. He interpreted it as a lack of confidence, I interpreted it as he was trying to hide stuff from me. I got him a much better rate in the end, but it was a stumble.

Confidence isn't what you think, it's how the prospect perceives you. Is also not coming off 'cockey' which a lot of people try to do thinking they are confident. This tends to turn people off.

In your case, simply be more honest up front, have a strong answer for the question of 'whats in it for me' and move on. Early in this game, you tend to interpret that question as 'how much are you going to pay me', but its usually simply the business owner wants to make sure your not wasting his payroll $$$$. If you do it during a free lunch, and it's a good value for his employees, he'll probably be fine with it.

Dan

healthagent · 12-24-2007, 03:35 PM

I'd be careful of lunch and learn. It'll probably work so be prepared to break out your Visa.

Also remember that you can feed the employees all you want. You still don't have a deal until the owner agrees.

James · 12-26-2007, 02:50 AM

Frank and the "Never Cold Call Again" mantra is a little hard to take at times. Now I'm not debating on positioning oneself but, how exactly does he propose to get that initial appointment? 80% close ratio, on the other hand cold calling equals zero, he states clearly that cold calling no longer works and should not be done. It works for me and many others but, that is not the point. So, he says you can achieve 80% close ratio with his system. Exactly how does he get appointments for Insurance Sales People initially to get to that 80% close ratio?

Remember, you can not cold call or walk, exactly how is an agent to get appointments? Buy internet leads? Ad Placement? DM? COI? Whatever the case may be, cost can be significant and time, esp. for a new agent in the field.

A lot of what he states makes perfect sense, yet I never brought his materials. While I'm on the "Never Cold Call Again" mailing list and they send out a lot of emails! I've yet to come across how he would suggest on making appointments for a new person or a person first adopting his system. I guess I'll never know, oh well I'm comforted in the fact that if I make twenty cold calls I'll get one appointment most of the time if not an additional appointment that I then can take refuge on how important it is to position myself in a power role.

Hope everyone had a great Christmas, everyone asleep now except for me, oh the quiet, and the beer is good!

somarco · 12-26-2007, 06:43 AM

I too am on Frank's list, and Dean Cipriano (how does anyone get off that list?), and Lew Nason and a few more. I finally got off Larry Klein's list when he went bankrupt. Most of what they have to say is hype, but there are some tidbits.

Frank's new book, "Selling Sucks", has already made me aware of some things I need to do differently, or at the least, give them a try and see what happens.

Agent5913 · 12-26-2007, 10:56 AM

Thanks for all of the help. I just feel that sitting in my office and calling people out of my Book of business may not yield three paid aps a month. Then again, Im new and dont really know. Ill keep digging.

James · 12-27-2007, 01:38 AM

Originally Posted by somarco

I too am on Frank's list, and Dean Cipriano (how does anyone get off that list?), and Lew Nason and a few more. I finally got off Larry Klein's list when he went bankrupt. Most of what they have to say is hype, but there are some tidbits.

Frank's new book, "Selling Sucks", has already made me aware of some things I need to do differently, or at the least, give them a try and see what happens.

I agree, Frank has some gems from what I see. Yet, there is no way to get off of Dean's list unless you end your email account. If you request to be take off the list, that only goes down as a reply and you get more mail! He has started sending out envelopes, thick ones, costing him at least around a dollar too mail out. When I get them I smile as I throw them in the trash can unopen!

Maybe if we got enough agents to act interested we can bankrupt him in mailer cost if no one responds but keeps acting interested?

James · 01-05-2008, 01:41 AM

Originally Posted by Agent5913

Thanks for all of the help. I just feel that sitting in my office and calling people out of my Book of business may not yield three paid aps a month. Then again, Im new and dont really know. Ill keep digging.

I'm still dumbfounded as to what exactly you are selling? Why not just sell the owners first then move onto the employees? From my experience owners are in more need then their employees for life insurance.