If you think selling everyday products is difficult, try selling intangible products such as insurance. It is not like selling bags or cars, so you can’t necessarily convince your prospect by showing them how helpful the product has been to you. Insurance serves as a protection against misfortune, and no one would ever wish for this in order to reap the benefits of their investments. So, there is no specific approach to selling insurance policies. Today, we will discuss ways you can improve your insurance sales skills.
Be an Advisor
Insurance is confusing and frustrating for the average consumer. Whether you are selling insurance to individuals or companies, it is unlikely your customer is not quite familiar with the various insurance available to them. That is why before you think of selling insurance to your potential buyer, you need to establish trust and credibility with them.
Explore The Market
Insurance is a very competitive industry, and there are a lot of policies with similar benefits. A lot of times, insurance sales don’t go through because there is a similar product in the market available at a lower price. Insurance agents must be aware of the competition and be able to highlight the selling proposition that their insurance policies have over competing products.
Develop Need-Payoff
People sometimes don’t realize that they need to purchase an insurance policy. So, as an insurance agent, you must be able to probe into your prospect’s concerns and create the need for the insurance policy. Developing a need for your client to get particular insurance is the best tip anyone can give you.
Listen To The Customers
We have seen many insurance agents go on explaining their products without truly understanding the actual needs of their prospects. They often find it hard to close sales because their audience doesn’t see value in their product during the conversation. So, you must also be a good listener. You are more likely to sell when you only suggest a product after listening to them than direct pitches.
Find Common Ground
No matter your prospect’s background or age, there is always something you both have in common, and you need to find it. Did you like the same baseball team? Grow up in the same neighborhood? Ask questions and do your research to figure it out so you can focus on this commonality.
Are you interested in learning more about a career as an insurance agent? Contact Western Marketing today to learn more and improve your insurance sales skills.