Fundamentals advisors must study and master: How to win the sales gameArticle added by Lew Nason RFC, LUTCF on July 25, 2012
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Wouldn’t it be great if you could invest in a single lead generation or sales program that would work in every area of the country for every agent? Simply follow exactly what they tell you to do and just like magic, you are making a six- or seven-figure income!
We sometimes hear from advisors who are unhappy with their current industry memberships or sales systems. It appears that the majority of these agents and advisors expect to find a magical cure to all their prospecting and sales problems. They want to believe all of the hype being spewed out there. They want to believe that there is a magical system that is going to get hundreds of prospects to come banging on their door and begging to buy their products. Wouldn’t it be nice if the hype was true?
Wouldn’t it be great if you could invest in a single lead generation or sales program that would work in every area of the country for every agent? Simply follow exactly what they tell you to do and just like magic, you are making a six or seven figure income!
Unfortunately, I know of no such magical program. In our 30-plus years in this business, I haven’t found a single way of generating or buying leads that is going to work for everyone in every area of the country. Doesn’t every section of the country have different ways of looking at things, different beliefs and different preferences? Doesn’t every agent and advisor have their personal strengths and their weaknesses?
It’s like playing baseball. Everyone can play the game; however, not everyone is a good player. Very few are ever going to become good enough to make it to the minor leagues, let alone the major leagues. Even those players who have a lot of talent are often beat out by players with a lot less talent.
The baseball players who do make it into the minor and major leagues are the people who study, practice and work hard to master the fundamentals of the game. Then, they determine what position they are going to specialize in, and they study, practice and work hard to master that one position.
It’s the same for anything we decide to do, especially selling insurance or our services. If we want to be successful, it takes dedication, study, practice and hard work to master the fundamentals. Then, to go to the next level, we must specialize.
Consider, you can have the best products in the world. You can be extremely knowledgeable about the products and how to use them. However, if you don’t know the fundamentals of how to attract and set appointments with the right prospects, you’ll never get your turn at bat. You can have all the best leads in the world, but if you don’t know the fundamentals of what to do and say to turn those leads into appointments and then into sales, you’ll strike out 99 times out of 100.
If you want to make it to the minor leagues in sales, you must first master the fundamentals of sales. And, to get to the major leagues, you must specialize in one area.
What are some of the fundamentals of sales?
The first fundamental of sales is understanding what sales is all about. Is a sale about getting people to buy the products that you want to sell them, or is it about helping people to buy what they need to solve a problem they have? This is where most agents stumble, right form the start. They have the wrong definition of sales. So, when they get a lead, they have a problem turning the lead into an appointment, let alone a sale.
The second fundamental of sales is learning how to identify and attract your ideal prospect. This is another area where the vast majority of agents have a major problem. They believe that everybody is a good prospect for they products they offer. So, they waste their time and money meeting with and trying to sell the wrong people.
- If your prospect doesn’t have a problem, then why should they meet with you? If it isn’t an urgent problem, then why should they meet with you right now?
- Does the prospect recognize the problem they have? What can you do to get them to see that they have a problem and agree to an appointment?
- Does the prospect want to solve the problem? Do they want to solve it right now? What can you do to move the sale along?
- Even if they do want to solve the problem, do they have the money? What can you do to help them find the money?
The third fundamental of sales is the understanding that marketing is the only function in your business that brings in clients, produces sales and generates profits. A lack of marketing is the primary reason most agents fail in this business. Most agents spend all their time trying to meet with and sell strangers, which is the hardest way to build their business. And yet isn’t that what most lead systems focus on?
- Are there some people who are better prospects than others for your products or services? Example: If you are selling life insurance, is it going to be easier to sell it to people with families or to single people?
- Are there some areas, companies, associations, etc. that have groups of your ideal prospects? If you sell one person in that group, is it going to be easier to set appointments with and sell the other people in the same group?
- Are there some prospects to whom you relate better than others? Do you have more things in common
with some than others? When you relate better with a prospect, isn’t it going to be easier to set an appointment and close the sale?
These are just a few of the fundamentals you must study and master to win the sales game.
- How easy is to get an appointment with someone who has never heard of you or the work that you do? How much credibility do you have with these strangers? How much trust do these strangers have in you? Don’t most people prefer to do business with people they already know?
- How much easier would it be to get an appointment with someone if a trusted advisor or friend recommended you and endorsed your services?
- How much easier is it to make an appointment with people that already know you and the work that you do to help people?
Remember, if there were a quick, easy way to be successful selling insurance or your services, then everyone would be earning a
significant six-figure income, instead of just the top 1 percent of all agents and advisors.
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