Personal selling in insurancePresentation Transcript
PERSONAL SELLING SKILLS IN LIFE INSURANCE -effective selling- Ritesh Pandey
STANDARD SALES PROCESS Closing Negotiation Objection Handling Counselling Taking Appointments Prospecting Suspecting
Suspecting Listing of Prospective Customer through Natural Market Prospecting
List of prospects categorically
COUNSELING Characteristics Introduction Presentation Objection Handling Enthusiastic Energetic Positive Attitude Communication Skills Negotiation Investing Possibilities Investing Mode Need Identification Proactive in Nature Focused Observation
“3” BASIC SALES APPROACHES Need Satisfaction Problem-Solution Standard
Pat statements and refined sales pitch
Good for rookies, uniform for Mgmt.
Full analysis of customer needs
Lots of careful questions to find opportunity
APPROACH Need Satisfaction & Problem-Solution Urban Areas – Big Cities, Metros, Mini Metros. Higher Education level Competitive Markets Knowledge Driven Places Highly Penetrated Areas Standard Rural Areas – Low Profiled Districts, Town, Villages. Low Education level Less Competitive Markets Poor Know-How of the industry Geographical, Environmental & Social Differences & Stigmas
CALL PREPARATION Know your product inside out. Be knowledgeable about the industry. Know your competition Know the basics of the customers needs. People in common. Believe in yourself, your company, and product.
FIRST FEW MINUTES Nonverbal visual cues Your dress. Plan it. Look them in the eye and shake firmly. Smile broadly. Show personal enthusiasm in body language. Pace yourself by customer…watch them approach
THE OPENER For Need Satisfaction & Problem-Solution Approach Careful questions to find opportunity like... Do you know why people are aggressively taking insurance these days? or Do you know, what are the benefits of insurance? No. I Answer: Let me tell you, Sir – “with a smile”
Get some CARDS - printed – (Prepared Page) BENEFITS Best Savings and Prudent Investment. Perfect Short Term & Long Term Investment Planning. Higher Returns with Calculated Risk & Cover. Child Protection & Education. Flexibilities, Liquidity & Opportunity Driven Investment. Family Protection & Security – Higher Risk Cover at Low Cost. Tax Benefits (Section 80 – C & Section 10-10-D)with One & All
THE OPENER What is your first Priority? (from the list of Benefits of insurance) Q.1 Why did you choose it? Q.2 Why it is important for you? Q.3 If you don’t get the opportunity for it, What could be the results? Q.4 Why do you get worried due to these results? Q.5 The Five Golden Questions to follow… For Need Satisfaction & Problem-Solution Approach
NEEDS DISCOVERY While closing the Q’s.- this is the key selling skill. Question and listen. Really listen What’s not being said? What are they trying to say but “can’t” What’s the real need? Sometimes the needs are “just those of the buyer, and not actual”. You understand!
QUESTIONS OPEN PROBES To get into the Emotional or Problem or Challenge or Solution Level of an individual. Let him feel about things while listening to him,& if not…make him feel about it. Be attentive while listening & be genuine in responses.
QUESTIONS CLOSED PROBE Identification of two Important component. How much are they saving in the current financial year? How long can they save the same?
CONCERNS AND OBJECTIONS Typically a natural part of any call An opportunity for more dialogue Helps both parties in buying process. “this is a buying process” Customer “indifference” is the killer not active objections
HANDLING OBJECTIONS Listen Agree/restate without prejudice Get clear about the real issue Discuss solutions Ask for a commitment
CLOSING Trial closes might uncover more issues/needs Is this what you had in mind? Would this do the job for you? How does this look? If still no… What specifically doesn’t seem as though it meets your needs?
BUYING CLUES Nonverbal yes’s Sounds good… Focus on delivery and terms in discussion Timelines Pulling out forms
CLOSING Alternative close Which mode of payment would you prefer – Yearly or Half yearly? Summary close When you have a great chance of solving you housing problems while shifting in your own house after 10 year with the guaranteed returns best in the industry..should we delay?
POST SELLING Service, service, service. Know your company’s ability Don’t ever oversell Call and write. Creative thanks. Visit again soon after product delivery.