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Selling Skills - FAB Technique

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  • 1. FAB ulous Selling TechniquesINTRODUCTIONThe insurance agent shakes hands with the potential client, sits down, smiles and says, "Ihave a product here that I believe to be the best life insurance package I have ever seen.In all of my years in the insurance business, I have never been so impressed with aproduct. Id like to tell you all about it."The salesman knows the ins and outs of his offering and no one who listened in on hissales pitch could doubt his love and support of the insurance product for even a split-second. What happens when he concludes his impassioned pitch? More often than not,nothing happens. No policy is written. No sale is made.In the office across the street, an agent meets with a potential client. After pleasantries areexchanged, he asks "So, what do you want from all of this? What are the things youd likelife insurance to accomplish for you? He listens attentively to the prospects answers,asking follow-up questions for clarification and to elicit more information to help himunderstand the prospects needs andwants.As the conversation progresses, theagent gets to know his potential clientbetter. He is able to establish a rapportwith the person and can determinewhat might be appealing. The agent,who has been noting fact after factduring the interview, is able to thenexplain exactly what can be done tobest meet the needs of the prospect.Yes, he pitches his life insuranceproduct, but he does so based uponthe expressed interests and concernsof the potential client. What happenswhen he finishes? More often than not,a new policy is written. A sale is madeand agent will find himself with yetanother commission.These two examples reveal the powerof using a "question and answer"(Q&A) approach to selling life insurance. Those who sell life insurance using methods richin listening and questioning invariably outperform agents whose focus in on their ownopinions and expertise. In addition to helping to establish great agent-client rapport, Q&Atactics are a powerful strategy for selling life insurance for two reasons. 2|Page
  • 2. Initially, it keeps the focus on the one thing that must always be front and centre in anysales situation: the buyer. Instead of creating a product focus, the Q&A methods allowthose selling life insurance to keep the meetings attention directed to the buyer. People,by nature, consider themselves and their interests of paramount importance. This methodallows the insurance agent to make sure the meeting unfolds in a manner that will interestand motivate a potential buyer.Secondly, the technique provides the seller with a great deal of valuable information.Those selling life insurance with Q&A techniques find themselves armed with client-specific responses to frequent purchase objections. They are also able to better explainthe policy, its advantages and benefits in ways that are meaningful to the prospectiveclient. An insurance agent can also make sure they are offering a product that truly meetsthe unique needs of the prospect.Even the most well delivered product-centred sales pitch can fall on deaf ears. Prospectslong to be at the forefront and are far more likely to be motivated to purchase life insuranceif the agent focuses attention on their specific needs. Methods that make use of significantQ&A to sell life insurance put clients on centre stage and motivate them to purchasepolicies. "Features tell, but benefits sell." The top marketers know "Benefits" tap into emotions and ultimately motivate people into action 3|Page
  • 3. Features, Advantages and BenefitsIts helpful to think of your product as made up of three distinct parts:• Features• Advantages• BenefitsA feature is what a product is or doesExample: “This car has ultrasonic sensors fitted to each bumper and electronic power-steering” [FEATURE].A benefit is what it will dofor your customerExample: “It can help youpark in tight spaces withoutrisk of damage”.[BENEFIT]You can either take a Whole of Life policy or a Term policy [both FEATURES].Please do not confuse a Term Policy with Term Assurance!And its been a golden rule of business since the 1920s that features dont sell, benefitsdo.Apply it to your sales pitches, presentations and conversations, and to your marketingbrochures, letters and adverts.The more you communicate how your business can help solve your customers problemsor needs, the more you show benefits, the better your sales will be.Your customers might want to know features, so that they can see whats included in theprice, but its the benefits that actually sell your product or service. 4|Page
  • 4. Develop every product feature into a tangible benefit, an end result that satisfies acustomer problem or need.Features are merely descriptions ofwhat you do or what you offer.For example, a feature is a diamond-tipped 10mm drill bit...... the advantage is "it makes holes in seconds."BUT the benefit is that it saves you TIME.NOTE: It is only a benefit if you are a Handy-manA feature might be "in-dash GPS", but the benefit is "never ask for directions again." The benefit of sheets woven with “600 thread count 100% Cotton Satten" is "sleep in the softest sheets ever made -- and never feel those sheet bumps again." Lets take another example of a feature and walk through the exact steps to convert em into a benefit... 5|Page
  • 5. ClickBankYou may be familiar with ClickBank.com -- theyre a "digital products retailer." A "digitalproducts retailer" describes ClickBank.com... and thats a "Feature."When we describe what a "Feature" does... how it functions... we call it an "Advantage.""Advantages", like "Features" are often confused with "Benefits."Think of "Advantages" as a word bridge between a "Feature" and its "Benefit."For example, one advantage of ClickBank is it allows e-book publishers to instantly tapinto a network of over 100,000 affiliates for less than 50 bucks.A "Benefit" eliminates all of the guesswork. A "Benefit" states the, "Whats in it for me"inspired by your "Advantage." And in this example, the "Benefit" of ClickBank.coms"Advantage" is it lets you rapidly test an affiliate program cheaper than paying anexpensive programmer to create your own from scratch.So lets review:Clickbank.com is a "digital products retailer." Thats a "Feature" of their service.Their "Advantage" is instant access to over 100,000 affiliates for less than 50 bucks.And the "Benefit" of this "Advantage" is e-book publisher vendors get access to fast andeasy solutions to launch an affiliate program without having to pay an expensiveprogrammer to create one from scratch. 6|Page
  • 6. So what? WIIFM? The Advantage TrapPut yourself in your customers shoes and ask Whats In It For Me? (WIIFM?).So what if the laptop youre trying to sell me has an 867MHz processor, 256MB memory, a38 cm display and built in Bluetooth?Whats In It For Me?And dont fall into the common trap of merely developing your features into advantages –how a product or service MIGHT be used or MIGHT help a prospective customer, or how itcompares with your competitors.What does it mean for the customer?What will he or she be able to do as a result?Benefits are only really benefits if they deal directly with a customer need.Take a new mover with the feature: Power drivenQuantum 15 horse-power engine.Its the quickest mower on the market isnt abenefit – its an advantage.The benefit is that you can mow your lawn inhalf the time, allowing you more time to enjoyyour garden.So dont fall into the trap of getting over-enthusiastic about your product and its new, uniqueand revolutionary features.Dont focus on the bells and whistles.All your buyer cares about is WIIFM?However, all this will be lost on a person who has no lawn to mow – KNOW yourcustomer! 7|Page
  • 7. Think FAB – Features, Advantages, BenefitsThe secret of coming up with genuine benefits is to be customer-oriented. The benefit yougive is much more powerful if it fits a specific, explicit customer need.Review your existing sales and marketing literature, and rethink your sales pitches. Howcan you turn features and advantages into benefits? The following are some magazineads. Look at how ads (3) and (4) give tangible benefits, whilst (1) and (2) just give featuresand advantages –(1) Magazine ad for O2Video Media Messaging/ Games/ Downloads/Music/ Sport/ Entertainment [ALLFEATURES] Get into O2 Active.(2) Newspaper ad for Philips PhilishaveShaverEach of the three rotary-action shaving heads has 90 omni-directional slots [FEATURE] to catch all the hairs, irrespectiveof length and angle to the skin [ADVANTAGE].The shaving heads also float independently to ensure theyfollow every contour of your face [ADVANTAGE].The double action cutters [FEATURE] lift each hair to achievea closer shave [ADVANTAGE] and there is also a pop-outtrimmer for sideburns [FEATURE]. 8|Page
  • 8. (3) Magazine ad for Mercedes-BenzSBC is the worlds first brake-by-wire system [FEATURE].When its raining, SBC evenhelps keep the brake discs dry byclearing water from the surface ofthe disc [FEATURE]. All measures which combine toreduce your stopping distance bymore than 3% [ADVANTAGE]. . . SBC: only a split second quicker than normal braking.But then accidents can happen in a split second [BENEFIT].(4) Magazine ad for Lady ProtectorThe Lady Protector+ is the only womens razorwith wire wrapped blades [FEATURE] to protectyou from nicks and cuts [ADVANTAGE].So it doesnt matter how speedily you whizdown a leg or zoom around an ankle[BENEFIT].It always leaves you racetrack smooth.[BENEFIT] 9|Page
  • 9. Neil Rackham, author of SPIN Selling, argues that the higher the value of the sale, the lesseffective advantages become, and the more effective benefits become.The more you relate your message to an explicit customer need (e.g. Avoid accidents,Shave as quickly as you want without mistakes) the better.How do you get to your customers needs?Ask questions: probe the effects, consequences and implications of your customersproblems.What benefits are they looking for?Do what we what we should do – get close to your customers.Deeper benefitsThe deeper and more personalised the benefit you can use to appeal to your customer,the more powerful your sales pitch.John Forde of the Copywriters Roundtable explainsWhen a local gym selling memberships talks about the equipment they have upstairs,thats a list of featuresWhen they tell you how that equipment can get you slimmer and stronger than equipmentthey have at other gyms, thats a translation from feature to advantage to benefit.But when they start flashing you photos of lithe-looking members in gym gear... chattingconfidently... flashing big smiles and toned flesh...show medical reports on lower blood-pressure and cholesterol well...Thats approaching the deeper benefits.The more benefits and deeper benefits you can stack up in favour of your product, themore chance you have of your sales pitch outweighing the price the customer has to pay. 10 | P a g e
  • 10. FABulous LifeLife insurance is a valuable financial tool because of the many benefits a life cover policyoffers beyond a death benefit. Depending on which policy you choose, living benefits canbe added to life insurance, which can be used in a variety of ways.Life insurance is the only investment option that offers specific products tailor made fordifferent life stages. It thus ensures that the benefits offered to the client reflect the needsof the client at that particular life stage, and hence ensures that the financial goals of thatlife stage are met.The table below gives a general guide to the plans that are appropriate for different lifestages. Life Stage Primary Need Life Insurance Product Young & Single Asset creation Wealth creation plans Young & Just Wealth creation and mortgage Asset creation & protection married protection plans Childrens education, Asset Education insurance, mortgage Married with kids creation and protection protection & wealth creation plans Middle aged with Planning for retirement & asset Retirement solutions & mortgage grown up kids protection protection Across all life- Health plans Health Insurance stagesOur product, LifePlan Plus is available as a term or whole of life Policy [FEATURE].LifePlan Plus term insurance allows you to select the term based on your age and need[ADVANTAGE]. You will also receive a generous maturity value at the end of the term.[ADVANTAGE]. This maturity value is tax-free in your hands [BENEFIT] and you can nowuse this capital as extra retirement funding [BENEFIT].What do you think are the Features, Advantages and Benefits of the whole life option? 11 | P a g e
  • 11. FAB’sOur savings product, Cash Plan Plus, allows you to make “cash withdrawals” from the sixth policy year.Cash Plan Plus is extremely flexible. You decide how much you need and when you need it. stWith our product, you can save up to 40% in premiums in the 1 year of your policy.What are the FAB‟s of the above?Use the table below to plot the Features, Advantages and Benefits. FAB’s FEATURES ADVANTAGES BENEFITS 12 | P a g e
  • 12. To be successful, and to help you convert features into more powerful benefits one mayask:• Whats in it for my prospect?• This [product or service] helps my prospect [Benefit goes here]• What this means to my prospect is [Benefit goes here]• [Feature] so that [Benefit]For example, this knife set is razor sharp... so that I can paper slice even squishytomatoes..."So, before attempting to sell anything new orold for that matter, do this simple exercise.Fold a sheet of paper as you would a letterinto three sections.In the first column, list the half-dozen majorfeatures of your offering.In the second column, list several advantagesfor each feature.And in the third column, list the possiblebenefits of each advantage for the differenttypes of prospects you plan to call on.No matter what youre offering, your presentations will flow naturally and logically acrossthe page, making it easier for prospects to justify buying.Benefits sell products. They are derived not from the product, but from the customer’senvironment and mind set which may change at any given moment.Now youre armed … The features are what good things the product offers, Advantages are what this product provides that has an edge over the competition. The benefits would be what the consumer will be able to do or what they will get from buying this particular product. 13 | P a g e
  • 13. Finally and for further success the “M” in FABNow that you understand FAB marketing – Features, Advantages and Benefits.We need to look at the M - motivesQuick recap:FEATURES – Are what your products and services haveADVANTAGES - Are what your features doBENEFITS – What the features mean to the buyerPretty straight forward, but they are mainly LOGICIAL stuff to enable the sale. Rememberthat sales are made mainly through emotion and are BACKED UP with logic.So we need to remember to also add MOTIVES to the mix.MOTIVES - are what the features and benefits will satisfy with the buyer.What feeling will it give them?Importance?Safety?Significance?What are the emotions associated with your prospects and clients having your productsand services? 14 | P a g e
  • 14. You need to include these in your selling efforts.So let‟s look at a quick example:FEATURES“Sean, this baby car seat has a dual locking system oneach of the straps…”ADVANTAGES“The advantage of this system is that it will take you adouble click to fasten it or to release it instead of just oneclick on most models…”BENEFITS“That means that Holly will be secure in her seat and ifshe manages to prize open one of the locks then there isstill the back-up of the other one…”MOTIVES“Sean, you‟ll have the peace of mind of the safest car seat on the market and also thefact that Holly will not be able to open the straps and harness herself”Get the picture!Remember, FAB is awesome, but FABM is even better! Buying life insurance is unlike any other product you buy. When youpay your premiums, youre buying the future, financial security for your dependants and loved ones, which only life insurance can provide. 15 | P a g e
  • 15. Understanding What Motivates People to Take ActionSo I wanted to buy a car. It was a tough choice but I decided that my next new car wouldbe a Volvo. So I drove down to a local dealer and told him I wanted to take a look at a fewVolvos and could he help. "Of course" he replied.After viewing a few of the cars I decidedto test drive one of them. As I drovearound the salesman went on about howgreat this car is and how customers dontcomplain about the car and how theylove their Volvos. I then asked him to bemore specific about what customers likeabout their Volvo. He seemed tohesitate. It quickly became obvious noone had ever asked him to be specific.He said, "Well you know, people like theway it drives and how it looks." Herambled on but never got into specifics.After a few test drives and more "oohsand ahs" about how great it would be toown a Volvo I thanked him and leftwithout buying a car. I just wasnt sureand wanted to think some more.About a week or so later I decided to goback and test-drive some Volvos again.This time I went to a different dealershiphoping to get another “flavour” beforemaking up my mind.The salesman that greeted me was apolite and unassuming individual. Well call him Jack. Jack asked me simple questionsabout what I was looking for in a car. I also told him that I had test driven a few Volvos butwas unsure of whether to buy or not.Jack listened and nodded his head and said, "Alright. Lets begin with the model you likethe most." I said, "Sure."We got into the car and I was ready to start the car when Jack asked me to wait a minute.Jack then went on to explain the features of the car. By the time he was done I understoodwhat every button on the panels, dashboard and doors could do. Then Jack explained howmany of these features would make my drive more comfortable.It became quickly apparent that Jack understood how to sell benefits, not features.When we finally started driving, Jack began to go into the history of the Volvo; origin,model transitions and improvements and on and on. It was like listening to a Volvodocumentary...with me in it! 16 | P a g e
  • 16. When we finished driving, Jack stepped me around the car to explain some of the hiddensafety features.Volvo is known for being one of thesafest cars in the world. And afterJacks mini-tour around the vehicle Iunderstood why.Needless to say, within an hour I wassitting down in his office finalizing thepaperwork to purchase my first Volvo.I gleaned a couple lessons from thisexperience that I want to share withyou.First, Jack wasnt a slick salesman. Hewas an average guy with a verymodest demeanour. Most people haveit in their heads that to be a greatsalesperson you have to be a fast andsmooth talker. Wrong. Who would youtrust more? A fast talking salespersonlike the first with slick answers and nodepth or someone like Jack whoanswers all your questions with detailsand facts?Second, people dont want to be sold,they want to be convinced. Jack understood that giving me a lot of information would go along way in helping me decide as to whether I wanted to buy or not. Having enoughinformation allowed me, or better yet, convinced me to make a decision.I didnt buy from the first dealership because I didnt have enough information to make aninformed decision. All I had were the opinions of other people who had driven the car froma salesman I didnt personally know.Testimonials are great, but unless I know the person behind the testimonials it mean verylittle to me.More often than not, people reject proposals or making a buying decision becausesomewhere in the sales process their concerns werent addressed. They still havelingering doubts about whether it is the right choice for them.Jacks approach reminded me of an adage I keep in mind when trying to understand thelink between motivation and action: "An uninformed mind is a confused mind. And a confused mind will NEVER make a decision." 17 | P a g e
  • 17. In a hyper-capitalist society where we are inundated and bombard with new technologyand features, our minds often times cant keep up. The job of a salesperson is to explainthe new advances, but more importantly how they benefit the buyer. Whether selling orjust trying to convince others, what motivates people into action is 1) knowledge and 2)that it is in their best interest.Think about it for a second. When you know how to do something, you rarely hesitate ingetting it done. When you know that it will benefit you personally, you will act!A final note: If youre in management, keep this is mind when someone doesnt buy intoyour approach, strategy or way of thinking. Maybe the reason they dont has less to dowith your ideas, and more to do with them not having enough information to make aninformed decision OR how it will benefit them in the long run. 18 | P a g e
  • 18. Sales Done RightThe other day our washing machine broke down. Bad news. My wife was frustrated anddecided there and then that we would get a new one. For those of you not married, let mesimply say that when you‟re wife isn‟t happy, life in the household isn‟t good. So off wewent to buy a new washing machine at the local Lowe‟s.Entering the store we immediately went straight to the back where all the applianceswere. There, standing near the washers was your typical Lowe‟s employee wearing thecustomary blue and red vest that distinguishes them from the ordinary shopper. Ill callhim Bob.As my wife and I approached, we began explaining the situation. He said, “Give me aminute I‟ll be right back.”My wife and I continued to browse for a bit. I was eyeing the less expensive washingmachines while my wife was eyeing the very expensive electronic machines. It quicklybecame evident that I would have no say in this matter.Bob returned, looked dead at me and said, “What type of washing machine are youlooking for?”I replied sarcastically, “It doesn‟t matter what I want. Talk to my boss (aka My Wife)".Bob was quick to respond, “Sir, by that response I can tell youre a smart man.” (What asuck up statement...I knew I was in trouble :-)He then directed all his attention to my wife and began asking her a series of questions. Itdidn‟t take Bob more than a few minutes to sum up what he thought would be the bestchoice for my wife...the expensive choice I might add! 19 | P a g e
  • 19. Bob said, “Well, this machine right here is my best seller. Compared to the other machinesit uses 53 litres of water, while the other use 151 litres on average for a basic wash. Whichmeans that you will get a Return On your Investment (ROI) in 2-3 years if you go with thebest seller. Now I can show you these others, but again, this here is the best of the best.”My wife looked at me as if to say, “Well, this is the one.”Now, with a sales pitch like that, how the hell was I even supposed to respond? Bob waspresuming to be non-biased, but his preference was clear. A 25% difference clear, if youknow what I mean!It should come as no surprise to you that within minutes Bob was taking down ouraddress, credit card number and asking what time the next day we would like to have themachine delivered.Bob reinforced a few of the principles of great selling that I often preach:1. Lowe‟s is a reseller of many brands. Yet, Bob was pushing only one major brand. Not because he was being paid off, but because he believed in that brand.2. Bob was “trained” well by the sales representative selling the brand through Lowe‟s. How do I know? How else would Bob know about the water efficiency? The ROI? Good sales representatives who sell through “channels” train people to sell when theyre not around.3. Bob used one of the oldest sales trick in the world. “Wouldn‟t you want to buy the best?” By telling us that this specific brand was his best seller, he was implying that unless we bought this brand, we would be settling for second best. And you know how much we capitalistic, egomaniac consumers hate settling for second best.In summary, a great salesperson is someone who believes in what they are selling, knowshow to sell the “benefits” of owning the product and leverages the buyer emotionally intobuying from the best.Damn that Bob...he was good! 20 | P a g e
  • 20. The Tupperware Effect and Why we’re Influenced to BuyNow, many of us at one time or another has been invited to a Tupperware party orsomething similar. We all know what is going to happen; someone is going to sell ussomething at the party. And in the end, we come home with more Tupperware eventhough our cabinets runneth over with more plastic goodies than we shall ever need.How did we get sold?Let us recreate a scenario and then let us take a closer look.Scenario:Your friend Ann calls you and invites you to a Tupperware party she is hosting at herhouse. You find it hard to say no and so you agree to be there. You show up and thereare other friends and soon to be new friends at the party snacking on hors doeuvres andsipping on some wine all the while having polite conversation.Your friend Ann then clinks her wineglass politely with a spoon to geteveryone‟s attention as she preparesto introduce the Tupperwarerepresentative (a friend of Ann‟s I‟msure). Introducing herself, the rep,then courteously asks everyone in theroom to introduce themselves so thateveryone can get to know a little moreabout each other.The rep then asks how many peoplealready own Tupperware. Many of theguests raise their hands. The repthen asks each of them to share theirexperience with their Tupperwareproducts and how they use them athome to make their lives moreconvenient. She then talks about thenew products Tupperware has andthen closes by thanking everyone fortaking the time and supporting their friend Ann.Ann then says, “I‟m passing out this form for anyone who is interested in buying any of theitems we discussed. And we also have more drinks and hors doeuvres.”That is it, no hard sales pitch and no sales pressure to buy.Next thing you know, you are filling out a form and signing up to buy a few of theTupperware items even though you told yourself you wouldn‟t. 21 | P a g e
  • 21. Sound familiar? What happened? Why did you feel compelled to buy something? What Iwant to do now is dissect exactly what happened and why. If you have ever watched oneof those crime shows, you have probably seen the lead detective, after reviewing the crimescene recreate exactly what happened based on the evidence. What I want to do ishighlight what rules of social dynamics compelled you to buy:1) When you walked in you were greeted by your friend Ann.Rule of Liking: we are more likely to be persuaded by people we like, know and trust. Wefavour buying from people we like, in this case our friend Ann.2) You were then offered free hors doeuvres and wine.Rule of Reciprocity: when someone gives you something, you feel a sense of obligationto return the favour in kind…in this case by buying something after eating Ann‟s food anddrinking her wine3) The rep than asked the willing to share their experience with their Tupperware products.Rule of Social Proof: when we see others doing something, we take our social cues fromothers and we are inclined to do the same. When the rep asks those who have bought inthe past to share their experiences, what she is doing is providing you the buyer with„proof‟ that others love the product and so should you.4) And, if you were one of those people that volunteered to share your experience with thegroup, then you were influenced by the following rule.Rule of Consistency: if you make a public statement, you will behave in a manner that isconsistent with your public statement. By saying that Tupperware is great you‟ve prettymuch painted yourself into a mental buying corner. You will look like a liar if you don‟t buysome of their newer products after stating how satisfied you are with their products.Although, there are other subtle dynamics at work in this example, I wanted to highlight thefour major rules at work. Each rule in and of itself may or may not be enough to swaysomeone to make a buying decision, but the cumulative effect is powerful and effective.So here is my question to you, “How can you use one or all four of these rules to improveyour sales closing ratio?” 22 | P a g e
  • 22. How to Motivate People to Buy Life InsuranceMost people do not want to think too much about life insurance because it forces them toacknowledge their own mortality. As the old saying goes: “life insurance is sold, notbought”. There are ways to motivate people to buy it, especially when you get them toconsider the needs of their loved ones. If you can appeal to a persons sense of wanting totake care of his family, you can motivate him to buy a life insurance policy. Step 1Show the person how many people actually depend on him/her financially. Most people have a spouse,children, or other relatives to whom they provide assistance. Even if someone is not the main breadwinner inthe family, this person may be providing a part-time income that pays for schooling or little luxuries. Thisperson‟s work around the household is also valuable. Step 2Quantify the persons worth in terms in actual monetary value. Use an actuarial table to show him/her his/herexpected lifespan. Tally how much money he/she makes each year, then multiply that by the span of yearsfor which he/she plans to continue working. For most people, their work life will run into their 60s, or possiblytheir 70s.Determine costs for household responsibilities that the person handles now, such as home repairs, varioustaxes (e.g. property), paying for mobile phones or land lines, etc. Use these figures to come up with a hard-money cost that the family would face if he/she died prior to the end of his/her expected lifespan. Step 3Ask the person to list his/her long-term goals for his/her family and how those goals would be affected ifhe/she died suddenly. For example, he/she might be planning for his/her children to go to university, andhe/she might be in the process of saving part of his/her income to finance that. If he/she was gone, wherewould the money come from to fulfill that goal? Or, perhaps he/she is hoping to pay off his/her house withinthe next 10 years. If he/she died, could the spouses income accomplish this alone? Step 4Stress the peace of mind that life insurance would provide. Using the figures and goals you discussed withthe person, remind him/her that upon his/her death, an insurance policy would provide a lump sum to takecare of a situation: It could be used to run the household, pay for university, pay off a house, or do anythingelse that might have otherwise been impacted due to his/her death. Step 5Portray the life insurance as an investment rather than as a cost. Show how investing a small amount ofmoney each month could potentially pay a huge dividend in the case of an unexpected death. Characterizethe price as an investment in peace of mind and the future of a persons loved ones. This appeals to his/herfinancial sense as well as her emotions. 23 | P a g e
  • 23. Tips & WarningsPeople dont like to think about their own deaths, so when you are trying to motivate themto buy life insurance, avoid using words like "died," "killed," or even "passed away." Useeuphemisms like "If you couldnt be there for your family" or "if you were suddenly takenaway from your family" to make the subject matter more comfortable. A motive to buy…?“Wouldnt you like to improve your golf game so dramatically that youll have your golf partners scrambling to keep up with you? Let me show you how to take at least 10 strokes off your total. By the end of the week, youll drive the ball farther, hit amazingly accurate chip shots and putt like a pro. Heres how...”The power of LOVEWhat do love and life insurance have in common?More than you might realize. The motivation behind purchasing life insurance is love: Webuy it because we love people and want to protect them financially. Think of it as theultimate act of enduring love.Preparing a romantic dinner. Planning a surprise weekend getaway. These expressions oflove are sure to be appreciated. But why not consider giving your loved one a moreenduring gift of love: life insurance. What can say “I love you” better than a promise toprovide for the ones you love, even after you‟re gone. Now if that does not motivate YOU…Now youre both armed and dangerous. 24 | P a g e
  • 24. CASE STUDY 1Look at the following advertisement for Miele Ovens. Once you have studied the advert,list the features, advantages and benefits. 25 | P a g e
  • 25. CASE STUDY 2MANIPULATORS Also referred to as end effectors or "tools". The manipulator holds the load while the operator transfers it. Available with power tilts and/or rotations. We offer vacuum cup style manipulators, carton handlers, mandrill style roll handlers, air-magnets and clamping style manipulators. These systems are utilised in all tiers of the Automotive Industry, Metal Fabrication, Food Processing and the Printing and Packaging Industries.JIB CRANES Column or wall mounted, the jib cranes are available with single or double articulating arms. Both arms allow for full 360 degrees of dexterity with the double jib allowing for manipulation anywhere inside the radius of the arm. The jib cranes are very easy to install and require a minimum of floor space. Ideal for short transfer applications.OVERHEAD SYSTEMS Ideal for applications where floor space is an absolute premium or a longer travel is required. The runway/ bridge system consists of an enclosed track aluminium rail. The trolleys are made of high- tensile aluminium alloy with precision-ground bearings and hard nylon wheels. A force of only 1-2% of the total weight being transferred is required. 26 | P a g e
  • 26. GANTRY SYSTEMS All the features of an overhead system but floor mounted. Ideal for applications where longer travel is required but ceiling suspension is restricted due to heavy-duty overhead cranes or ceiling weight restrictions.AIR BALANCERS Ergonomically designed for accurate, effortless positioning of loads. Safe, quiet and require minimal maintenance.Use the information on Indutrol Inc. and draw up a table listing the Features, Benefits andAdvantages of the product range. 27 | P a g e
  • 27. FAB ASSESSMENT1. Securing protection should be your primary goal when purchasing a Life Insurance policy. Is this a Benefit; Advantage or Feature? a. Feature b. Advantage c. Benefit2. Life Cover (the Death Benefit) on a Life Insurance policy is a benefit. Is this statement True or False? a. True. This is the reason you take Life Insurance policy b. False. This is a feature of a Life Insurance Policy3. Life Insurance can build a cash value which you receive at the end of the term of the contract. Is this a Benefit; Advantage or Feature? a. Feature b. Advantage c. Benefit4. A Life Insured can cash in the policy (surrender) or borrow against the policy if they choose. Is this a Benefit; Advantage or Feature? a. Feature b. Advantage c. Benefit5. A Life Insurance policy can create wealth for your beneficiaries. Is this a Benefit; Advantage or Feature? a. Feature b. Advantage c. Benefit 28 | P a g e
  • 28. QUICK SALES ASSESSMENT1. The best way to earn referrals from your customers is to ask a. As soon as you close b. As soon as you are sure they are satisfied c. As often as you can without being forceful2. When you are fielding objections, you will have the most trouble when a. You are talking with the head of the company b. When the objection of your prospect is similar to your own private feelings about the product c. When the objection is about price d. When the objection is about the product3. It is more challenging to sell on the telephone than in person a. True b. False4. Verbal communication is more powerful than non-verbal communication a. True b. False5. A successful salesperson almost always engages in small talk during their pitch a. True b. False6. It is better to ask your prospects closed-ended questions (yes/no) rather than open-ended questions. a. True b. False7. Your sales pitch will usually be better when it is a. Planned and Rehearsed b. Done on the Fly (off the cuff), Unplanned and Unrehearsed8. Rolling up your sleeves and making cold calls is the best way to prospect. a. True b. False9. The best thing to do when your prospect objects to your proposal is: a. Listen to what they are saying; they are telling you what assurance they need in order to buy b. Dont get discouraged; give testimonials of other grateful customers that had the same initial concerns c. Keep your focus on the product; a good product with great customer benefits will be the persuasive factor d. Back off; Throw in the towel if the conversation isnt going anywhere10. Life Insurance makes savings possible. Is this a Feature, Advantage or Benefit? a. Feature b. Advantage c. Benefit 29 | P a g e
  • 29. CASE STUDY 1: Model answerin this advertisement, the features, advantages and benefits are:Features: Fan forced cooking system, mini turbine, and ring heater element.Advantages: Cooking on up to three levels, hot air forced evenly through the interior.Benefits: Reduced cooking time, reduced energy consumption, perfectly even cookingresults. 30 | P a g e
  • 30. CASE STUDY 2: Model answerPneumatically Operated - Means virtually maintenancefree, intrinsically safe, ease of operation, quiet.Safety interlocks- Where applicable, safety interlocks areused on our systems. As long as there is a load on the liftingunit the load cannot be released even if air pressure is lost orif the operator were to depress the "load release switch".Custom Design- Your Indutrol system will be designed to meet your exact requirements.Our systems are not "off the shelf".Ease of Operation- Our systems are built with the comfort and safety of the operator inmind.Our representatives and designers will work hand-in-hand withyou throughout the design process. After installation we willprovide training for the operators of the system. Amaintenance package is included with each system includingvisual and physical checks. An Indutrol representative willalways be on hand to answer questions or provide on-siteassistance.Indutrols systems are highly effective in reducing injuries andcan contribute to providing owners/managers withopportunities to reduce WSIB premium rates.Indutrols systems can "free-up" hands normally used totransport large or heavy loads allowing managers to moreeffectively use their employees‟ time. 31 | P a g e
  • 31. FAB AssessmentAnswers: 1. a; 2.b; 3. b; 4. b and 5. cQuick Sales AssessmentAnswers: 1. c; 2. b; 3. b (False); 4. b (False); 5. b (False); 6. b (False); 7. a; 8. b (False); 9. a; 10. b. 32 | P a g e

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