Insurance Agent Forum

[Labman]

I've called on four businesses who don't have Section 125 plans. Only one bit and is allowing me to come in to discuss implementation. In this horrid economy how in the hell can a business turn down such an opportunity to save money at virtually no cost?? I bet the employees would be unhappy as hell to find out how much they can save if their employers weren't so damn dumb!

Sorry for the vent, but I just had to!!

[djs]

As a small business owner, I get calls all day on how I can save money. 99% of them are someone trying to take my money.

You're approach has to change. First, if you are getting 1 out of 4, you are doing EXTREMELY well. Second, realize that the employees won't realize that they'll save money either (and even if they do, they'll procrastinate anyway).

You're job as a sales person is to get past all of this. Motivate the employer and the employees.

You'll have to find a new approach, the current one isn't compelling.

Dan

[Bob_The_Insurance_Guy]

I agree with DJS.

Perhaps you could put together some type of seminar, and distribute flyers in the neighborhood, or via e-mail.

Let them come to you. The ones that do are interested. Those are the ones you can call on.

Or, do a webinar with Webex, Yugma, etc.

Let them come to you.

I prefer to work with those that have an interest in what I offer, and who would listen to my valued proposition.

[xrac]

Not too bad and you will get better as you go. Keep on chipping away at those business. Drip mail them, etc. It is up to you to find the right prospects and to find the pain. If you don't find the pain you can't close the deal. Ben Feldman with NYL was the greatest life insurance salesman of all time but it was not until his fourth (4th) year that he qualified for the MDRT. I think it took John Savage about 9 years to really become successful. Do you have a mentor? Have you ever made joint calls with anyone experienced in the market you are working? My point is don't blame the prospects or whine. Learn your trade and persevere.

[HomeService]

It's because you are calling them on the phone. It's tougher to tell you negative things in person.

[Labman]

I don't mean to come across as whining, I knew the game going in. My spill goes like this:

Hello I specialize in working with small business owners to control their major medical cost and improve on employee benefits.

If they say they are happy with their current health care situation then I move into the benefits of a Section 125 plan. I know my presentation could use some fine tuning, but I've actually had owners they looked at cafeteria plans before and could not afford them??? I explain Section 125 plans are cheap and the benefit buy still no bites. Where is my approach going wrong?

I have a mentor but he is so busy he can rarely go out, maybe I need to find another. But most of my calls have been via phone. My success is a little bit better when I go in person.

[Bob_The_Insurance_Guy]

If they are happy, leave them alone, and move on to the next call, where you might find someone who is not happy, and willing to speak with you.

If you want some help in developing a script, let me know, and I'll assist.

[moonlightandmargaritas]

Originally Posted by Bob_The_Insurance_Guy

Perhaps you could put together some type of seminar, and distribute flyers in the neighborhood, or via e-mail.

Let them come to you. The ones that do are interested. Those are the ones you can call on.

Or, do a webinar with Webex, Yugma, etc.

Let them come to you.

I prefer to work with those that have an interest in what I offer, and who would listen to my valued proposition.

Excellent, outstanding, superb!

Instead of wasting time cold calling everyone on the planet, do some marketing, and deal with people that want what you have.

Originally Posted by Labman

Hello I specialize in working with small business owners to control their major medical cost and improve on employee benefits.

Where is my approach going wrong?

Don't take this personally, but in addition to the guy probably getting 45 calls a day like this, it's not compelling or different, and is a good cure for insomnia...

Here's something right off the top of my head...

Mr. Blowhard, this is Joe Agent. I've got a no-risk offer for you. If I can't lower your major medical cost by seventeen percent, and still provide you with good, safe coverage, I'll give you five hundred bucks cash.

That will get some attention.

[HomeService]

Business people still do not understand section 125, even though aflac has basically blanketed the earth with them. Are you with aflac or colonial? it really does not matter who you are with, there are a lot of people trying to "jump" into section 125 lately, because it's a great way to write like 15 apps in one place. So, there are tons of agents writing it, the average business gets tons of calls about it, they don't understand it, I don't blame them. It's a section in the IRS code. It's section 125 of the IRS code, for goodness sakes. I don't think I want somebody calling me about IRS codes.

Now, if you start calling people about their supplemental benefits, or voluntary benefits, this sounds better.

[The Rabbi]

Originally Posted by djs

As a small business owner, I get calls all day on how I can save money. 99% of them are someone trying to take my money.

You're approach has to change. First, if you are getting 1 out of 4, you are doing EXTREMELY well. Second, realize that the employees won't realize that they'll save money either (and even if they do, they'll procrastinate anyway).

You're job as a sales person is to get past all of this. Motivate the employer and the employees.

You'll have to find a new approach, the current one isn't compelling.
Dan

I find your post contradictary. First you say he is doing well and then you tell him he has to change. You are also misusing the contraction 'you're'. In this case, it should be 'your'. Just trying to help.

[moonlightandmargaritas]

Originally Posted by The Rabbi

I find your post contradictary. First you say he is doing well and then you tell him he has to change. You are also misusing the contraction 'you're'. In this case, it should be 'your'. Just trying to help.

Boy, The Rabbi has a burr under his saddle today, doesn't he?

Somebody must have stolen his downline again....

[Golden Jet]

Originally Posted by Labman

I don't mean to come across as whining, I knew the game going in. My spill goes like this:

Hello I specialize in working with small business owners to control their major medical cost and improve on employee benefits.

If they say they are happy with their current health care situation then I move into the benefits of a Section 125 plan. I know my presentation could use some fine tuning, but I've actually had owners they looked at cafeteria plans before and could not afford them??? I explain Section 125 plans are cheap and the benefit buy still no bites. Where is my approach going wrong?

I have a mentor but he is so busy he can rarely go out, maybe I need to find another. But most of my calls have been via phone. My success is a little bit better when I go in person.

Your "spill" is awfully boring.

[Labman]

Alright if my spill is boring, which I don't doubt it is, any suggestions on livening it up a tad?

Bob, I will contact you for some suggestions. Thanks!!

[moonlightandmargaritas]

Originally Posted by Labman

Alright if my spill is boring, which I don't doubt it is, any suggestions on livening it up a tad?

I already gave you one...

[Dave020]

I kind of agree with Paul here. In this economy, you are going to have to bring some real (perception) value to an employer. Many employers right now are trying to decide whether to drop group health benefits altogether (it's starting to happen all over CA) so any extra expenditure that does not actually reduce the employer's outlay, is going to be met with a serious lack of interest.

Unless you are going to address the major cost driver (the health insurance) you may be spitting in the wind. No employer wants to spend any more money on benefits for their employees right now. That is where they are trying to cut, you can't bring in something that is going to cost the employer anything and not bring value to the employer. Employee retention is virtually dead nowadays, there are lines of people and hundreds of resumes on file to replace anyone who wants to leave the same day.

This is where Paul's point makes sense to me....hey, let me see if I can get you quality health coverage and reduce your premium outlay. Now that is something the employer would be interested in. Couple that with a 125 plan using some (not all) of the premium savings and you can create a win-win.

"Mr. Blowhard, this is Agent X. Right now my job is helping employers drastically reduce the cost of their group health insurance premiums while not reducing the overall quality of coverage. I help employers save money and keep benefits. Doyou think I could get 10 minutes of your time this week to talk about this?"

[Golden Jet]

Originally Posted by Labman

Alright if my spill is boring, which I don't doubt it is, any suggestions on livening it up a tad?

Bob, I will contact you for some suggestions. Thanks!!

"________, this is Labman with _______. Do you mind if I ask you a question?" If he gives his consent, he's given you permission to say anything that you want to say. Then hit him with the most disturbing question that you can think of. I don't sell what you sell, but maybe these other guys can suggest some disturbing questions. Keep in mind that seemingly intelligent people frequently make very stupid decisions about their money. Using logic to make the sale rarely works.

[Labman]

Woowee, you guys were right,my spill is terribly boring compared to what you have suggested. Come to think of it, I don't know if I would be interested either.

Thanks guys, as a newbie I really can use all the suggestions you guys want to give.

Have a great day and thanks again!!!!

[Reuben]

Originally Posted by moonlightandmargaritas

...

Mr. Blowhard, this is Joe Agent. I've got a no-risk offer for you. If I can't lower your major medical cost by seventeen percent, and still provide you with good, safe coverage, I'll give you five hundred bucks cash.

That will get some attention.

Better get your wallet out then, I almost cringe when the % statement comes out.

Why not use 30%, 430% or 40% then?

Forgive me, but I'm reminded, for some reason of an auto dealer here in L.A., Cal Worthington. In the 60's/70's he had a "dog" (elephant, tiger, bear.) named spot. He said that if he couldn't beat any deal he'd, depending upon the advert, eat a bug, or stand on his head, "till my ears are turning red..."

The point being, this. Surely there's a better way to break the ice, either over the phone or belly to belly that doesn't involve this "magical" percentage statement?

Just wondering.

[Delta76]

________, this is Labman with _______. Do you mind if I ask you a question? If he gives his consent, he's given you permission to say anything that you want to say. Then hit him with the most disturbing question that you can think

Good advice, I know this works.

[somarco]

Cal Worthington. Haven't thought of him in years.

I assume he has passed on to that car dealer in the sky.