Personal Selling in Life Insurance
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Transcript of Personal Selling in Life Insurance
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
PERSONAL
SELLING SKILLS IN
LIFE INSURANCE
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
STANDARD SALES PROCESS
Suspecting
Prospecting
Taking Appointments
Counselling
Objection Handling
Negotiation
Closing
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery Suspecting
Prospecting
Listing of Prospective Customer
through Natural Market
• List of prospects categorically
• Seeking appointments
Counselling
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
Introduction
Presentation
Objection Handling
Negotiation
Enthusiastic
Energetic
Positive Attitude
Communication Skills
Investing Possibilities
Investing Mode
Need Identification
Proactive in Nature
Focused Observation
COUNSELING
Characteristics
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
“3” BASIC SALES APPROACHES
StandardNeed
SatisfactionProblem-
Solution
• Pat statements and refined sales pitch
• Good for rookies, uniform for Mgmt.
• No listening
• Lots of careful questions to find opportunity
• Full analysis of customer needs
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
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
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
CALL PREPARATION
• Know your product inside out.
• Be knowledgeable about the industry.
• Know your competition
• Know the basics of the customer's needs.
• People in common.
• Believe in yourself, your company, and
product.
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
32165
23160
23155
21345/50
12335
23130
32125
PROTECTIONINVESTMENTSAVINGSAGE
CUSTOMER’S NEED IDENTIFICATION
‘AGE - WISE’
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
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
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
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”
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
1. Best Savings and Prudent Investment.
2. Perfect Short Term & Long Term Investment Planning.
3. Higher Returns with Calculated Risk & Cover.
4. Child Protection & Education.
5. Flexibilities, Liquidity & Opportunity Driven Investment.
6. Family Protection & Security – Higher Risk Cover at Low
Cost.
Get some CARDS - printed – (Prepared Page)
BENEFITS
Tax Benefits (Section 80 – C & Section 10-10-D) with One & All
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
The Five Golden Questions to follow…
THE OPENER
For Need Satisfaction & Problem-Solution Approach
Why do you get worried due to these results?Q.5
If you don’t get the opportunity for it, What could be
the results?
Q.4
Why it is important for you? Q.3
Why did you choose it? Q.2
What is your first Priority? (from the list of Benefits of insurance)Q.1
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
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!
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
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.
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
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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?
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
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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
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
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HANDLING OBJECTIONS
– Listen
– Agree/restate without prejudice
– Get clear about the real issue
– Discuss solutions
– Ask for a commitment
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
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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?
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
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BUYING CLUES
• Nonverbal yes’s
• Sounds good…
• Focus on delivery and terms in discussion
• Timelines
• Pulling out forms
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
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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?
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
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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.
2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500
2 Days MSF Certification for Sales Mastery
I appreciate your kind attention.
Thank you