Producer Success Lesson 5

Follow these guidelines in selling risk managers on your services.

In the 19th century, businesses had three communication options: The Pony Express, Western Union, and (rarely) the telephone. With the Pony Express, at best you had to wait days or weeks for a response — a lot like a producer trying to cold-call senior executives today.

With Western Union, telegrams had to convey their message in a limited number of words. Today a marketing letter might get through, but the executive has little time to read it and it doesn’t display your verbal communication skills.

The telephone was — and remains — more effective by connecting you directly with the party you’ve targeted so that you can display your range of interpersonal skills.

Focusing on your appointment with the client’s risk manager can do the same thing: Keep you from getting a busy signal.

A SUCCESSFUL OUTCOME

Plan your meeting with the risk manager, keeping a successful outcome in mind: An introduction to the senior executives of the company. If you focus on leaving the meeting with the information you need, you’re far more likely to get it.

Begin with mental rehearsal. What and who do you need to take to the meeting? A good start might be the Commercial producer, who already has built rapport and trust with the risk manager. If the Commercial producer can’t attend, build your own credibility through association with the producer and your agency. You might take a Personal Risk Management (PRM) Review and a packet of materials on your services and products. Client testimonials are also good to leave with the risk manager.

Make sure that the right people attend your meeting. Ask the risk manager if there’s anyone else involved in the decision to refer you to the company’s senior executives.

Finally, be clear on the parameters for the meeting(s) you want with the senior executives. Personal interviews work best, but some companies prefer group presentations. Stay flexible. Your goal is to get a meeting. Mentally rehearse asking the risk manager to set up these meetings with you. If they don’t want the responsibility of coordinating this, offer to work with the executives’ assistants.

MINIMIZE FEARS

The risk manager will probably have at least one of three basic fears about referring you to the senior executives:

1. The risk manager will get blamed for any screw-ups.
2. You'll hound the senior executives.
3. Something about you will embarrass the risk manager.

Ease these fears by showing the risk manager you’re professional, trustworthy, and genuinely concerned about solving problems for both the risk manager and the senior executives. You already have some trust and credibility through your association with the Commercial producer and your agency. Let’s look at some ways to enhance these.

• An old traveling salesman explained the secret of his considerable success: He never sold anything within 10 miles of his home town, so that he was always the “out-of-town expert.” Make yourself the outside specialist. People feel better about dealing with a specialist. That’s why you can’t find plain old doctors anymore; even general practitioners are “family medical specialists.” Use this perception to your advantage. Bear in mind that 80% to 90% of the senior executives who get PRMs change coverage because of potential problems that aren’t covered under standard, nonspecialized policies. They realize that “standard” policies and “standard” agents can’t handle their complex needs.
• Show the risk manager how the PRM can work in solving their problems.
• Install a little fear along the way. By denying senior executives the information and input from a specialist like you, the risk manager might be cutting them off from vital information.
• Ask for help. The sooner the risk manager becomes your ally, the sooner you’ll be talking with senior executives. Form your alliance by asking for input on any letters or correspondence you’d like to address to the senior executives. Ask the risk manager the best way to help each executive, and try to get some insights into their personalities. In effect, get on the same side of the table as the risk manager — you’re both working to solve some potentially serious problems.
• Offer to handle everything. The risk manager has more important things to do than help you. Don’t forget to ask for the risk manager’s opinion of your letter; get them involved.
• Finally, ask the risk manager to refer you personally to each senior executive with a written list of qualifications and client testimonials.

When you get the referral, contact the senior executive immediately. Don’t wait for the referral to get old. The people you want to see are busy — they won’t take the time to remember you for very long.

Even if the risk manager decides not to help you, remain professional and remember your successful outcome: You want referrals to the senior executives. Sooner or later, the risk manager will want to talk with you. Tell them you’ll be available.

• Rehearse a strategy that eases each of the risk manager’s major fears.
• Rehearse successfully answering the objections that you expect from the risk manager.