Increase your life insurance and annuity sales today
By Lew Nason
Insurance Pro Shop
It's the first question I ask myself every morning, and it's the question every agent and advisor should be asking themselves every day: What can I do right now that will increase my sales and income, today?
When was the last time you asked yourself that question? What was your answer? Buy more leads? Run an ad in the local newspaper? Send our more direct mail and postcards? Offer more dinner seminars? Contract with a different marketing company that offers leads and take a reduction in your commissions? While these are all viable solutions, aren't you just throwing more and more money at the problem?
Isn't there a better way?
Three ways to grow your sales and your income
As all of the marketing gurus will tell you, there are three ways, and only three ways, to grow your sales and your income.
No. 1 -- Find and attract more new prospects.
No. 2 -- Convert a higher percentage of your prospects into appointments and sales.
No. 3 -- Increase the size of each sale, or make more sales from each prospect.
Most agents are only focusing on the first way -- finding more new prospects. Unfortunately, isn't finding new prospects the hardest, most time consuming and most expensive way to grow your business? Aren't each of the viable solutions mentioned above focused on bringing in new prospects?
Do you want to increase your sales and income right now? Do you want to stop throwing more and more money at the problem? Would you like to spend less time calling prospects (leads)? Then you must learn how to convert more prospects into appointments and sales, and learn how to close more and larger sales from each prospect.
Converting more prospects into appointments and sales
What if starting today, you could double your sales and income and dramatically decrease your expenses?
Converting more prospects into appointments
If you are currently setting appointments with one out of every five prospects, then in order to have 10 appointments per week, don't you need 50 prospects per week? At a minimum of $20 per prospect, you'd need to spend $1,000? Plus, how much time are you or your staff spending calling those prospects to set appointments?
If starting today, you could set appointments with just two out of five prospects, then in order to have 10 appointments per week, wouldn't you only need 25 prospects per week? That would cut your lead expenses and appointment setting time in half -- a savings of $25,000 per year?
Converting more prospects into sales
If you are currently closing one out of every three appointments, then in order to average three sales per week, you need a minimum of nine to 10 appointments per week.
If you could increase your closing ratio right now to two out of every three sales appointments, you would double your sales to six out of every nine or 10 appointments, which would also double your income.
How much better off would you be?
Closing more and larger sales with each prospect
Now, what if starting today you could increase the size of each sale or make more sales from each prospect?
If you are closing three sales per week at an average of $600 per sale, that means you would be grossing about $1,800 per week, or about $90,000 per year. Subtract the expenses ($60,000 for leads, gas, etc.) and you would net about $30,000.
If you could increase the size of each sale to $1,000 (or close multiple sales), you would be grossing about $3,000 per week, or about $150,000 per year. Subtract the expenses ($60,000 for leads, gas etc.) and you would net about $90,000.
Are you ready to learn the secret to increasing your sales and income -- starting today?
Here's the secret
What's the secret to setting more appointments and closing more and larger sales? It's learning how to help your prospects to see and understand the problems they are facing now and in the future. If your prospect doesn't believe they have a problem, then is there any reason for them to set an appointment with you, let alone buy from you?
Setting an appointment is the first sale you have to make to your prospects. Essentially, you need to sell them on why they should meet with you. However, if you tell them they have a problem, will they believe you? After all, aren't you just a salesperson in their eyes? As far as they're concerned, aren't you just trying to get them to spend more money that they don't have?
Telling is not selling
If you want more people to set appointments buy from you, you must get them emotionally involved. Help them by asking questions that help them realize they have a problem. The more questions you ask during your appointment setting process, the more appointments you'll set. And, if you learn how to conduct a good, thorough fact-finding interview, you'll close more and larger sales.
If starting right now, you could close just one additional sale or one larger sale per week, what would it mean to your income? To your family? To you?