Closing a sale getting your prospect to say “yes” can sometimes be as easy as asking for it. Once you’ve laid the groundwork by qualifying your prospect, uncovering their needs, and showing how your product or service satisfy those needs, it’s time to ask for the order. Here are five tips to make this procedure simple and successful.
1. Lay the Foundation
As an insurance salesperson, you know that an essential element of your job is to determine your customer’s needs and help them to understand that what you’re selling more than meets that need. If you do this, you might not need a “close.” might not be necessary. However, if you’re encountering difficulties closing, you should probably examine your procedure for revealing your customer’s needs and demonstrating the benefits of the policies and coverages you propose.
2. Qualify Your Prospect
Does the person with whom you are doing business have the authority to make purchasing decisions? Sometimes a person won’t say “yes” to your proposal only because they’re not authorized to do so. If this is the case, urge this person to recommend you and your agency to the real decision-maker. To smoke out the gatekeepers from the decision makers, ask for the order and see if your listener hems and haws. Other approaches are to inquire about budgets or past buying decisions. The answers will help you determine whether or not this person in the loop.
3. Set a Deadline
If you have a customer who’s indecisive, one way to close is to tell them that your pricing is only available up to a certain date. For example, if a prospect professes interest in using your services but can’t make a commitment, set a deadline d or explain that you’ll be unavailable for a certain amount of time. Of course, this is a risky proposition that might lead to a lost sale. However, it can separate authentic prospects from prospects who might keep you on perpetual hold without making a decision. Forcing a decision, one way or the other, can be good for your business; if a prospect decides not to buy, you’re free to pursue other prospects.
4. Warn of a Price Increase
If their insurers plan to raise pricing after the new year, start calling people in October recommending that they cancel and buy mid-term before the premium hike. Positioning is crucial here – bear in mind that you’re calling to provide your prospect with money-saving information, not to intimidate them into buying. Your prospects and customers will appreciate the advance notice. This should help you close.
5. Discuss the Consequences of Indecision
Ask your prospect to estimate what it would cost them not to buy insurance from you today; for example: the costs of doing business due to an uninsured accident or a disastrous product launch due to insufficient market research. The cost can be measured in financial terms, time, and reputation, among other things.
You might use one or all of these tips when closing a sale. Get comfortable with these techniques and try to work them into your discussions naturally. Good luck!