5 month cold streak

[ABC]

Well, I finally wrote some group paper after a 5 month cold spell. That is the longest I have gone without picking up new group clients in 8 years. I have another group that I am waiting on the check for that I should get today. So things are picking up.

 

[Delta76]

Keep the momentum going! The tough part about the group market is the long delay from initial contact to commission check. For me 5-6 months is typical. The prospecting work you do today feeds the family in April.

 

[ABC]

Keep the momentum going! The tough part about the group market is the long delay from initial contact to commission check. For me 5-6 months is typical. The prospecting work you do today feeds the family in April.

I hear ya and thank you.

I usually write group paper every month. They are mostly small groups but they add up. You are correct about the sales cycle.

 

[Labman]

I'm very new in this business and my wife is giving me a bit of a hard time about long it is taking me to close a sale. My reply to her is that the voluntary business is not something you can rush. My paramount goal is to develop a relationship first, then educate and then try to close. Personally with vacations, normal business routines etc. I don't see how anyone can close a case in less than a couple of months.

Is my timeline normal or am I doing something wrong?

 

[Executive Benefits]

I ask for the agent of record at every single appointment, I need to get paid for my time, and don't have an issue asking for it. I give my prospects an added benefits of hiring me "today." Stating that I can look at the other several options with there current carrier while looking at competitor quotes, add service and do extra work like add on's, term's, claims etc. Basically my client just pays the bill I do everything else. I have AOR 7 clients in 4 months just by offering service!

 

[moonlightandmargaritas]

I'm very new in this business and my wife is giving me a bit of a hard time about long it is taking me to close a sale. My reply to her is that the voluntary business is not something you can rush. My paramount goal is to develop a relationship first, then educate and then try to close. Personally with vacations, normal business routines etc. I don't see how anyone can close a case in less than a couple of months.

Is my timeline normal or am I doing something wrong?

You're doing something wrong.

Developing a "relationship" and "educating" are fine - but you've got to have urgency for business. If you're rationalizing vacations, etc. you're in trouble. Look for a way to do business - today.

Providing "education" is expensive - for you. There's an old saying, "if you do a teacher's job, you'll earn a educator's wages."

If you're getting static from your spouse (already?), it's gonna be tough. Voluntary benefits are a tough road to hoe, even more so in the current economic environment.

Bon chance.

 

[djs]

I'm very new in this business and my wife is giving me a bit of a hard time about long it is taking me to close a sale. My reply to her is that the voluntary business is not something you can rush. My paramount goal is to develop a relationship first, then educate and then try to close. Personally with vacations, normal business routines etc. I don't see how anyone can close a case in less than a couple of months.

Is my timeline normal or am I doing something wrong?

Remember, a person doesn't have to be you're best friend to do business with you. You can develop a relationship by educating on what you offer.

The relationship a business person needs with you is simple, they need to trust you'll do your job, that you provide something of value, and you won't waste their time. Make those happen, and move to the sale.

Business owners tend to have a 'driver' personality style. Move quicker, much, much quicker.

Dan

 

[ABC]

I'm very new in this business and my wife is giving me a bit of a hard time about long it is taking me to close a sale. My reply to her is that the voluntary business is not something you can rush. My paramount goal is to develop a relationship first, then educate and then try to close. Personally with vacations, normal business routines etc. I don't see how anyone can close a case in less than a couple of months.

Is my timeline normal or am I doing something wrong?

Your wife is right in giving you a hard time.

Correct me if I am wrong but it sounds like your sales approach is leaning towards "best friend" approach. This is where one trys to becomes friends with the client to close. This approach does work and it has its place. This is just one sales technique to have in your tool box.

Maybe try being a pit bull for awhile and ask every potential if they are ready to write some paper. The worse thing they can say is no.

 

[Delta76]

I agree with the above, the time to become friends is after the person becomes a client. That's when you get a chance to "wow" them, anything else you claim to do before the sale is only "talk" to them as they have been mislead in the past.

I don't focus on becoming friends or much small talk at the beginning, it just feels phony to me. I ask some questions about their problems, determine if the problems are enough of a concern to them to want to fix the problems, get committment that if I can help they will implement the solution through me (biggy in the group business), and only then talk solutions.

Many clients have become friends, but it didn't happen until after the initial sale.

 

[Labman]

Good points fellas. My definition of relationship building is definately different than yours. I'll gladly change my approach. The way I'm going now, I'd be ninety before anyone signed up. LOL!!!!