Happy Selling Ideas
Article: HS/0001 |
16 April 2012 |
Ideas that give You SHAKTI
An Introduction to the Sales Process
The existence of a sales process is most visible in the sales activity of a life insurance sales person. In no other product category is the sales process so vi`sible, so necessary to adhere to, and to implement. Let us take a brief look at the components of the sales process in life insurance sales.
Planning:
Before we start our year of work we need to know the market segments we are going to tap during the month or the year under review.
Goal Setting:
Why do we want to earn money and how much do we want to earn? Also how much do we want to earn this month, this year and so on, so that our financial goals are achieved. All goals must be capable of being measured and must be realistic to the time we can devote and also realistic to our work discipline and habits.
List of Leads:
For every week/month/year we must have a written list of leads of people known to you or referred to you. We should not make the mistake of categorizing this list into suspects and prospects. All persons known to us are our prospects till we have sufficient information from them that they are no more interested in pursuing the idea of buying life insurance. In our business there are no suspects.
New Lead Generation:
You must decide the method you are going to use to get references from the people known to you and identify how much time you are going to spend on this activity on a daily basis.
Pre-approach:
Getting to know your lead. Information that you need to know include, the lead’s age, occupation, how many dependents, his income and so on.
Preparation:
Preparing yourself mentally and preparing the environment from where you are going to make your telephone calls for an appointment. Prepare yourself to stay cool, calm and composed.
Approach:
The first contact or phone call you make with your lead for an appointment. The objective of the Approach phone call is to get an appointment and not to make a sale. Getting an appointment is an important stage in the process of prospect qualification. A person who grants an appointment is one who is open to the idea of discussing life insurance as a method of planning for risks and family welfare.
Fact Find and Needs Analysis:
The first meeting with your warm qualified lead, where you try to find out what his financial priorities are and what kind of emotions he has. Selling life insurance is an emotional process. It is the process of fact find and needs analysis that brings the emotions of the prospect into the sales process. Understanding the emotional needs of a prospect is the key to selling life insurance.
Objections:
The reservations that a prospect might have for not continuing with the sales process to its logical end.
Presenting Solutions:
We must present solutions to the needs of the prospects.
Follow-up interviews:
Are always to a warm qualified prospect.
Closing:
The completion of the proposal, with a signed proposal form and the cheque.
Financial and Medical underwriting:
Underwriting completion and acceptance by the life company, after meeting all underwriting requirements.
Policy delivery:
Completion of the sale, after the policy document and the FPR have reached the customer.
Relationship building:
A systematic program of taking the relationship built to a higher level of bonding for mutual benefit.
A successful sales person undertakes all these steps in the sales process.
Happy Selling! N. Ashok Kumar ashok@insurancesales.in Mobile: +91 98 600 59 397 |
SHAKTI is an acronym denoting strength. From the SHAKTI tools of IIST you will get the strength to learn, to improve, to excel and to master the science and art of selling life insurance. The full form of SHAKTI is Skills Habits Attitude Knowledge Training Interventions. Learn the selling skills and working habits, develop an attitude to excel, and acquire the knowledge of life insurance and products. Give yourself the SHAKTI to succeed in life.
