Selling Insurance Products

The Target Practice Podcast for Insurance Agents

05-04-2022 • 51 mins

Once you’ve mastered marketing and got better at making a possible client start a conversation with you about your product, then it’s time to turn that into paperwork, and ultimately a paycheck. From marketing where someone made the decision to get more information from you, sales is then turning that into a decision to purchase or commit to something. More importantly, sales is also about helping your client to know what is the best product that will work best for their needs and goals. Every person in the world needs an ethical salesperson that can help persuade them to do what is best for them. The ‘divorce business’ Change in general is hard. It’s easier for people to continue what they are currently doing especially if it gives them immediate gratification. Selling financial products is like working out a ‘divorce business.’ Somewhere along the way, your leads are more likely to be working with an advisor that they already have a relationship with. Keep in mind that this is not about the person they work with but the plan they end up with. Because financial advisors and agents are in the business of professionally breaking up a relationship that could feel personal to clients, you need to make yourself different and better without actually saying that the current agent is not doing a great job.

If breaking up a relationship is not a good move, then find a way to work alongside the current team. As the saying goes, riches are in the niches. You can find an expertise that you can go deep in and offer a different service to complement what the current team has. At the end of the day, the goal is still to give the clients what’s best for them.

Going against the grain

Another challenging aspect of sales is when you offer something great but goes against tradition. The non-traditional strategies that we offer can be a double-edged sword: some people may want it right away or you will get immediate no’s because they are not popular. The use of proper language is critical. You have to be able to ask the question: Do you want what’s best for you or what feels good? You cannot have both.  But are you willing to go against the grain? Every time that you are able to make the client think about your proposals or products is a small win. Every little ‘yes’ is a building block to getting a sale close. But whatever you do, keep in mind that using the proper skills to do right by clients is infinitely powerful. You may have ideas or products that are untraditional, but if it turns out to be working for the clients, business will come in automatically. You can be the social proof of these new ideas that are different from what people are used to.

The golden rule

This podcast is for you if you think you do not have the sales skills yet or if you want to improve and level up your business. But if your goal is hiding things from clients just so your employer can get more money, and if your starting point is that you are here to only sell the product, then this is not for you. You don’t force customers into getting inferior products just because you want your company to get the money. A big part of selling is helping people. In the financial world, there are so many ways that we can modify our products in a way that will make the most sense to every client. By doing that, you are already setting yourself apart from others. Your business will grow just by simply giving your clients what they're asking for and educating them along the way.

About Charlie Jewett

Charlie Jewett is an author, speaker, recruiter, trainer, consumer advocate and investment advisor from San Diego, CA. As the “Financial Services Whistleblower” Charlie has been trying to change the way that industry professionals and consumers think about retirement since 2005. With considerable years of experience and an array of professional certifications, Charlie focuses on stock market alternatives combined with tax-free retirement income and provides educational materials that help people to create their ideal retirement plan. He is the host of two podcasts, Renovating Retirement  and Target Practice for Advisors, as well as the author of “Renovating Retirement” and “Two Ways to Be Debt Free”, both available on Amazon Kindle.

About Bobby Alford

Bobby Alford has walked an unconventional path to becoming the CEO of Renovating Retirement. He spent 10 years in the US Submarine force, both as an officer and enlisted person, earning a degree in nuclear engineering along the way. Bobby then joined corporate America and worked for a Fortune 50 company in operations, finance, and sales management roles. After getting his MBA, he began working with military veterans to improve their retirement options. At that point he found Charlie Jewett and learned how to truly impact a person's financial life using the MERIT model of planning. Bobby joined Charlie and now uses his skills to grow their company toward achieving the goal of creating $1 billion dollars of annual tax-Free money for their clients.

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