Sales Managerleadtraining


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Sales Managerleadtraining

  1. 1. Manager Training
  2. 2. Sales Manager <ul><li>One way to ensure agents maintain a high level of activity </li></ul><ul><li>Is to require the agent to report their projected appointments </li></ul><ul><li>and production to you every Monday evening. </li></ul><ul><li>This is followed up with the agent reporting their mid-week </li></ul><ul><li>production and remaining appointments every Wednesday </li></ul><ul><li>evening. </li></ul>
  3. 3. Sales Manager <ul><li>You can help your agents maintain a high level of activity by helping them develop their own prospects by cold calling, getting referrals,building long-term relationships and other prospecting techniques. </li></ul><ul><li>** Contact is defined as cold call, telephone interview and lead follow-up with an attempt to set an appointment. </li></ul>
  4. 4. Training Agents to have production <ul><li>Activity equals production! It is important for you to minimize all activities not directly related to the productivity of your agents. </li></ul><ul><li>In addition, it is important to adequately teach your agents how to develop effective marketing plans, develop long-term customer relationships and maintain a high level of activity. </li></ul>
  5. 5. Production
  6. 6. Production <ul><li>Setting production goals, identifying responsibilities, identifying required resources and establishing and maintaining minimal standards are key to operating a successful sales operation. </li></ul><ul><li>You will need to be able to accurately forecast the amount of sales that will be generated from each agent’s territories. </li></ul>
  7. 7. Production <ul><li>It is important for agents success that their manager expects them to have a minimum production each week. </li></ul><ul><li>Expect and encourage agents to produce a minimum i.e.: $5,000, written annualized premium weekly. </li></ul><ul><li>Require agents to produce a minimum issued annualized premium per quarter, for example $30,000 a quarter would qualify them for local recognition. </li></ul>
  8. 8. Production <ul><li>Expect and encourage your agents to take advantage of the AECI affiliate prospecting programs available on website. </li></ul>
  9. 9. Production <ul><li>You should review your agents’ activity </li></ul><ul><li>requirements, goals, ratios and results weekly. </li></ul><ul><li>In addition you should ensure your agents: </li></ul><ul><li>Set a minimum of 15 new appointments every week. </li></ul><ul><li>Make a minimum of 4-6 presentations* every week. </li></ul>
  10. 10. Culture
  11. 11. Culture <ul><li>Attitudes, beliefs, values, philosophies </li></ul><ul><li>Agency Culture: The manner in which production occurs in your agency </li></ul>
  12. 12. Stages of Agency Development
  13. 13. Define the Scale <ul><li>Exceptional - “Above Average” </li></ul><ul><li>2. Satisfactory - “Good” (set goals) </li></ul><ul><li>3. Needs Improvement - same (set goals) </li></ul><ul><li>4. Unsatisfactory - Transfer/Terminate </li></ul>
  14. 14. Meet and Review <ul><li>Meet and review what will be evaluated </li></ul><ul><li>Provide examples of what high, mid and low performance looks like </li></ul><ul><li>Suggest self-tracking chart – use a weekly activity planner </li></ul><ul><li>Ask questions if unsure of what is being measured and how its being measured - not what the measurement is </li></ul>
  15. 15. Self-Fulfilling Prophecy Self-Fulfilling Prophecy Our Perception Others Behavior Our Behavior Determines Elicits Reinforces
  16. 16. Triad of Performance <ul><li>What to do… Management </li></ul><ul><li>How to do it… Training </li></ul><ul><li>Execution… Leadership </li></ul>
  17. 17. 4 Steps <ul><li>Focus on performance - not the person </li></ul><ul><li>Empower the agent to change </li></ul><ul><li>Write down solution and action plan </li></ul><ul><li>Follow up - evoke +/- consequences </li></ul>
  18. 18. Top Producers
  19. 19. Top Producers
  20. 20. Burnout
  21. 21. Burnout <ul><li>Frustration: Goals not realized </li></ul><ul><ul><li>cynicism, easily aggravated </li></ul></ul><ul><ul><li>feelings of hopelessness and helplessness </li></ul></ul><ul><ul><li>onset of psychosomatic disorders </li></ul></ul>
  22. 22. Burnout <ul><li>Apathy: Non-feeling stage </li></ul><ul><ul><li>presence is physical only </li></ul></ul><ul><ul><li>goal is to protect from further disillusionment </li></ul></ul><ul><ul><li>avoids risks, maintains status quo </li></ul></ul><ul><ul><li>doesn’t want involvement </li></ul></ul><ul><ul><li>feels isolated and cut off </li></ul></ul><ul><ul><li>working in vacuum - no feedback </li></ul></ul><ul><ul><li>this work is futile </li></ul></ul>
  23. 23. Burnout <ul><li>Stagnation: Loss of satisfaction </li></ul><ul><ul><li>disgruntled, gripes, spreads dissatisfaction </li></ul></ul><ul><ul><li>sees environment as stressful </li></ul></ul><ul><ul><li>bureaucratic processes become mountains </li></ul></ul><ul><ul><li>feels stuck below level of competence </li></ul></ul><ul><ul><li>feels unappreciated </li></ul></ul><ul><ul><li>communication suffers </li></ul></ul><ul><ul><li>perceives dead end career </li></ul></ul>
  24. 24. Improvement Process
  25. 25. Improvement Process <ul><li>Catch them doing things right </li></ul><ul><ul><li>support and challenge </li></ul></ul><ul><ul><li>Review “how” they made sale at turn in </li></ul></ul><ul><li>Catch and remediate anything that will show up negative </li></ul><ul><li>Model activity planning and hold weekly reviews </li></ul><ul><ul><li>let agents solve their own problems </li></ul></ul><ul><ul><li>teach problem solving </li></ul></ul>
  26. 26. Prospecting
  27. 27. Prospecting <ul><li>Prospecting is their business: Getting leads is as important as selling. Once they stop getting leads they stop writing business. </li></ul><ul><li>They must learn to prospect or quit. </li></ul><ul><li>New agent: having enough prospects is the difference between success or failure </li></ul><ul><li>Experienced agent: prospects are needed to replace attrition. </li></ul><ul><li>Agents need a constant flow of prospects for business and income growth. </li></ul><ul><li>Prospecting is 80% of any sales success. </li></ul>
  28. 28. WHAT IS PROSPECTING? <ul><li>Prospecting is the activity they do to contact individuals and interest them in purchasing one or more products. </li></ul>
  29. 29. Who is a Qualified Prospect?
  30. 30. WHO IS A QUALIFIED PROSPECT? <ul><li>An individual who recognizes a problem exist (they believe they have a problem) </li></ul><ul><li>They are motivated to solve this problem </li></ul><ul><li>They feel our product will solve their problem </li></ul><ul><li>They can physically qualify for our product </li></ul><ul><li>They have the money to purchase our product </li></ul><ul><li>They are willing to spend money to purchase our product to solve their problem </li></ul><ul><li>They are willing to purchase our product TODAY! </li></ul>
  31. 31. WHO IS A QUALIFIED PROSPECT? <ul><li>If this definition makes since then teach your agents to qualify all prospects to this criteria. </li></ul><ul><li>If they do not meet the criteria, then your agent does not have a prospect. (Remember time value) </li></ul><ul><li>Trying to create qualified prospects from poor suspects is one of the greatest waste of an agents time. </li></ul>
  32. 32. Your agent as a business owner
  33. 33. Your agent is operating a business <ul><li>All successful business people look for a return on their investment. </li></ul><ul><li>Your agents’ investment is their time and energy along with the financial investment they make acquiring inventory (prospects). </li></ul>
  34. 34. Your agent is operating a business <ul><li>As your agent works their prospects they are “withdrawing” from their inventory. </li></ul><ul><li>These “withdrawals” (prospects) must be replaced if your agent expects to stay in business. </li></ul><ul><li>If not, they will be “living off inventory” and no business can live off inventory long. </li></ul>
  35. 35. Your agent is operating a business <ul><li>As you help your agents increase their ability to recognize the value of prospecting, they will find their investment of time and energy diminishing and the RETURN ON THEIR INVESTMENT steadily increasing. </li></ul>
  36. 36. WHAT IS NEEDED
  37. 37. WHAT IS NEEDED <ul><li>Agents who are not successful do not lack </li></ul><ul><li>physical energy, product knowledge, or the </li></ul><ul><li>latest sales training, they do not even need a </li></ul><ul><li>different personality. </li></ul><ul><li>What they need is more customers. </li></ul><ul><li>Customers come from daily prospecting. </li></ul>
  38. 38. Activity Plan
  39. 39. Activity Plan <ul><li>The activity plan is where specific activities are identified as </li></ul><ul><li>necessary to achieve your agents goals. </li></ul><ul><li>This plan helps your agent determine what prospecting and </li></ul><ul><li>marketing activity is necessary to meet their goals, such as: </li></ul><ul><li>·        Phone Calls </li></ul><ul><li>·        Walk and Talk </li></ul><ul><li>·        Lead Programs </li></ul><ul><li>·        Direct Mail </li></ul><ul><li>·        Referrals </li></ul>
  40. 40. Prospecting and Planning
  41. 41. Prospecting and Planning <ul><li>Prospecting is a daily activity as part of your agents daily schedule. </li></ul><ul><li>Teach them to state specific objectives and desired results to be obtained </li></ul><ul><li>Review with them and update objectives and results regularly </li></ul><ul><li>Review with your agent their schedule of daily prospecting activity </li></ul><ul><li>Help your agents map out strategies and focus on specific activity </li></ul><ul><li>Require your agents to develop plans and incorporate them into their daily planner </li></ul>
  42. 42. Plan Your Work Now Work Your Plan <ul><li>Do not confuse planning prospecting with the activity of </li></ul><ul><li>prospecting. Your agent will only make a sale if they are </li></ul><ul><li>making fact-to-face presentations to prospects! </li></ul><ul><li>Common Sense Prospecting: </li></ul><ul><li>Prospect where you pay </li></ul><ul><li>Prospect where you play </li></ul><ul><li>Prospect where you pray </li></ul><ul><li>The function of a pre-approach is to approach, which leads to </li></ul><ul><li>a presentation, which leads to a sale. </li></ul>
  43. 43. Prospecting Sources
  44. 44. Newspaper <ul><li>Newspaper </li></ul><ul><li>Social Section </li></ul><ul><li>1. People moving into area </li></ul><ul><li>2. Weddings/engagements </li></ul><ul><li>3. Birth Announcements </li></ul><ul><li>Business Section </li></ul><ul><li>1. Job changes </li></ul><ul><li>2. Promotions </li></ul><ul><li>3. New business openings </li></ul><ul><li>4. Business closing/layoffs </li></ul>
  45. 45. Obituaries
  46. 46. Obituaries <ul><li>Obituaries – Look for people around the </li></ul><ul><li>deceased, for example: </li></ul><ul><li>1. What happened to any business </li></ul><ul><li>owned </li></ul><ul><li>2. Kids/grandkids involved in </li></ul><ul><li>business </li></ul><ul><li>3. Children live in area </li></ul><ul><li>4. Grandchildren </li></ul>
  47. 47. Legal Notices
  48. 48. Legal Notices <ul><li>Legal Notices </li></ul><ul><li>1. Business starting </li></ul><ul><li>2. Divorce </li></ul><ul><li>a. Children involved </li></ul><ul><li>b. New home/people moved </li></ul><ul><li>3. Business close </li></ul><ul><li>4. “Responsible for own debit” </li></ul><ul><li>a. who put notice in paper (located at </li></ul><ul><li>bottom of notice) </li></ul><ul><li>b. Was business sold? </li></ul><ul><li>c. Who are new owners? </li></ul><ul><li>d. How many employees? </li></ul>
  49. 49. Policyholder
  50. 50. Policyholder <ul><li>Policyholder- service your clients while complying with HIPAA laws. Policyholders like to be contacted by their insurance agent on a regular basis. </li></ul><ul><li>When customers call into the home office to cancel a policy one comment they always make, regardless of the initial reason they give for canceling the policy is: </li></ul><ul><li>“ I bought the policy and never heard from my agent again.” </li></ul>
  51. 51. Client Lifestyle Events
  52. 52. Client Lifestyle Events <ul><li>Client Lifestyle events </li></ul><ul><li>1. Birthdays </li></ul><ul><li>2. Policy changes </li></ul><ul><li>3. Premium changes </li></ul><ul><li>4. Dependents reach majority </li></ul><ul><li>5. Term Conversions </li></ul><ul><li>6. Turning 65 </li></ul>
  53. 53. Internet leads
  54. 54. Internet leads <ul><li>Internet leads </li></ul><ul><li>a. Major Medical </li></ul><ul><li>b. Medicare Supplement </li></ul><ul><li>c. Long Term Care </li></ul><ul><li>d. Annuities </li></ul><ul><li>e. Profiled –(30 days old) </li></ul>
  55. 55. Walk & Talk
  56. 56. Walk & Talk <ul><li>Walk & Talk – Direct face-to-face approach to business, strip malls, neighborhoods: </li></ul><ul><li>1. Teach your agents to go in areas where they are </li></ul><ul><li>already on an appointment or servicing a policyholder. </li></ul><ul><li>2. Teach your agent to approach their own personal </li></ul><ul><li>service centers (where they buy their gas, food, </li></ul><ul><li>clothes, shoe repair, etc) </li></ul><ul><li>3. Take them to a community or neighborhood that </li></ul><ul><li>satisfies a predetermined profile and go door-to-door. </li></ul>
  57. 57. Personal Advertising Campaign
  58. 58. Agent Personal Advertising Campaign <ul><li>Teach your agents successful personal advertising campaign activity: </li></ul><ul><li>Mail a policy anniversary card </li></ul><ul><li>Join and offer to speak at civic clubs </li></ul><ul><li>Put their business card in every bill they pay </li></ul><ul><li>Send their customers a holiday card </li></ul><ul><li>Send their customers a birthday card </li></ul><ul><li>Work their church directory </li></ul><ul><li>Team up with local P&C agents </li></ul><ul><li>Leave their business card with their tip in restaurants </li></ul><ul><li>Give their business card to everyone they meet; dry cleaners, car wash, etc. </li></ul><ul><li>To teach these personal advertising campaign activities you have to model </li></ul><ul><li>them to the agent by doing them. </li></ul>
  59. 59. Additional Prospecting Sources
  60. 60. Additional Prospecting Sources <ul><li>Teach your agents to keep alert at all times to possible </li></ul><ul><li>prospects: </li></ul><ul><li>New business openings </li></ul><ul><li>New strip malls going up </li></ul><ul><li>New home developments </li></ul><ul><li>New neighbors moving in </li></ul><ul><li>Conversations with friends, acquaintances, and policyholders that indicate a prospect could be developed. </li></ul>
  61. 61. Centers of Influence
  62. 62. Centers of Influence <ul><li>Your agents come in contact with a constant, </li></ul><ul><li>continual flow of people. Friends, places they </li></ul><ul><li>do business with, service companies they give </li></ul><ul><li>business to, groups and clubs they belong to. </li></ul><ul><li>A center of influence can refer quality prospects to </li></ul><ul><li>your agent. </li></ul>
  63. 63. Networking
  64. 64. Networking <ul><li>Networking is an endless chain of prospects who </li></ul><ul><li>are connected by one reason or relationships, for </li></ul><ul><li>example: </li></ul><ul><li>Occupational: In an office or industry </li></ul><ul><li>Religious organizations </li></ul><ul><li>Community organizations </li></ul><ul><li>Social: participation in groups or activities </li></ul><ul><li>Family groups: working within family groups </li></ul>
  65. 65. Networking <ul><li>Advantages of Networking </li></ul><ul><li>Competition is minimal </li></ul><ul><li>You save time: you can often see more than one person </li></ul><ul><li>Your reputation increases: Working with and prospecting in a network allows you to gain an understanding of common problems and interest </li></ul>
  66. 66. SAMPLE SALE DAY AGENDA Sales Calls RULES OUTCOMES Plan each day Work systematically Make a full presentation on every call Do all paperwork in your down time • Don’t prejudge • “ Look for sales” • Call every lead • Visit every lead • Have daily activity • Have six appointments every day • Concentrate on making presentations • Spend time with “Prospects” 7:30 Leave for field 8:00 Make 1 st sales call 8:30 Walk & Talk 10:00 Second Sales Call 12:00 Lunch 1:00 Third Sales Call 2:00 Fourth Sales Call Walk & Talk Collect Bus. Cards 4:00 Fifth Sales Call 5:00 Home 6:00 Plan for next day (Alternate schedule/ next day make phone calls in am/leave at 11 for field. Work till 8 p.m.
  67. 67. WHAT IS A LEAD?
  68. 68. WHAT IS A LEAD? <ul><li>A lead is just a contact your agent makes </li></ul><ul><li>An way for your agent to have activity </li></ul><ul><li>A person for your agent to use their professional skills with </li></ul><ul><li>An activity step to the next activity step </li></ul><ul><li>Part of their inventory </li></ul><ul><li>Exactly what they make it-nothing more and nothing less </li></ul>