Build a Strong Sales Pitch When Selling Insurance
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This document provides guidance on building a strong sales pitch for selling insurance. It discusses making assumptions about prospects and salespeople, focusing the pitch on those who are a good fit, and using a multi-stage sales process with goals for each stage. It also covers identifying the value offered, common problems solved, composing qualifying questions, building interest, and addressing objections. The overall message is to center the pitch around prospects' needs by highlighting value, pain points, and credibility in order to qualify leads and progress them through the sales process.
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Build a Strong Sales Pitch When Selling Insurance
- 1. Build a Strong Sales Pitch When Selling Insurance Michael Halper Founder and CEO SalesScripter
- 2. Assumptions We Can Make About Prospects • Prospects don’t enjoy being sold to • Prospects aren’t in buying mode • Prospects often already have insurance • Prospects don’t think they need insurance • Prospects get sold to a lot
- 3. Assumptions We Can Make About Salespeople
- 4. Assumptions We Can Make About Salespeople
- 5. Assumptions We Can Make About Salespeople
- 6. I am with [Company Name]. We provide [product or service]. What are you doing regarding [area of product].
- 7. Apply Assumptions to Our Sales Pitch
- 8. Focus on the May Fit Make pre-qualifying questions center of your pitch • Don’t try to sell to everybody • Will make interactions more conversational • Plant seeds instead of picking fruit
- 9. Early Sales Process Stages Stage GoalsInitial Contact (First time to speak) Cold Call Inbound Call Email Event 2 to 5 minutes 80% on prospect 20% on you First Conversation (Appointment/Meeting) Phone Call Face-to-Face Discovery 20 to 30 minutes 50% on prospect 50% on you First Meeting (Presentation) Discovery Presentation Demonstration 1 to 2 hours 20% on prospect 80% on you Pre-qualify Gather high-level information Build interest in having conversation Schedule a First Conversation Hard Qualify Gather detailed Information Build interest in meeting Schedule a First Meeting Sell Product Map out Next Steps Close (Sale or agreement to move forward)
- 10. Early Sales Process Stages Alternative Path – Instant CallInitial Contact (First time to speak) Cold Call Inbound Call Email Event 2 to 5 minutes 80% on prospect 20% on you First Conversation (Appointment/Meeting) Phone Call Face-to-Face Discovery 20 to 30 minutes 50% on prospect 50% on you First Meeting (Presentation) Discovery Presentation Demonstration 1 to 2 hours 20% on prospect 80% on you Pre-qualify Gather high-level information Build interest in having conversation Schedule a First Conversation Hard Qualify Gather detailed Information Build interest in meeting Schedule a First Meeting Sell Product Map out Next Steps Close (Sale or agreement to move forward)
- 11. Early Sales Process Stages Alternate Path – Instant MeetingInitial Contact (First time to speak) Cold Call Inbound Call Email Event 2 to 5 minutes 80% on prospect 20% on you First Conversation (Appointment/Meeting) Phone Call Face-to-Face Discovery 20 to 30 minutes 50% on prospect 50% on you First Meeting (Presentation) Discovery Presentation Demonstration 1 to 2 hours 20% on prospect 80% on you Pre-qualify Gather high-level information Build interest in having conversation Schedule a First Conversation Hard Qualify Gather detailed Information Build interest in meeting Schedule a First Meeting Sell Product Map out Next Steps Close (Sale or agreement to move forward)
- 12. Disqualifying Soft Disqualify (Takeaway) • I am not sure if you are a good fit for what we do. • I am not sure if we can help you in the same ways that we help our other clients. • I don’t know if you are the right person to speak with or not.
- 13. Building Your Sales Pitch
- 14. Interest Value Pain Qualify Credibility Objections Step 1: Identify the value that you offer
- 15. What is Value • Transfer of an intangible attribute from one party to another that has a positive net worth • It is not your product, it is what your product helps your clients to do or to achieve • Examples: – Making something work better – Helping to save time – Helping to make money – Providing valuable information – Making someone’s day easier – Helping someone to sleep at night
- 16. Messaging Workflow Product 1. Health and Welfare Consulting Value Offered 1. Help CFO’s to implement cost containment programs. 2. Help manufacturing companies to make better business decisions regarding the health and welfare of their employees. 3. Help small businesses to decrease workers comp costs, healthcare costs, and risk. Product Value
- 17. Call Script
- 18. Email Templates
- 21. Interest Value Pain Qualify Credibility Objections Step 2: Identify the common problems that you help to fix
- 22. What is Pain • Something not working well – Causing a negative impact • Something could be working better – Results are not as good as could be • Are things great, good, ok, or could be better ? – Great or good: probably no pain – OK or could be better: likely pain
- 23. Messaging Workflow Pain Resolved 1. It can be difficult to design and implement successful cost containment programs. 2. It is complicated trying to figure out what the best alternatives and options are. 3. It is difficult to control and decrease costs for workers comp, healthcare, and risk. Value Offered 1. Help CFO’s to implement cost containment programs. 2. Help manufacturing companies to make better business decisions regarding the health and welfare of their employees. 3. Help small businesses to decrease workers comp costs, healthcare costs, and risk. Product Value Pain
- 24. Call Script
- 25. Email Templates
- 28. Interest Value Pain Qualify Credibility Objections Step 3: Compose questions that uncover pain
- 29. 2 Step Qualifying Process Step 1 – Pre-Qualifying • To make sure it makes sense to meet and keep talking • Takes place in first contact Step 2 – Qualifying • Identify if you can consider the prospect and lead are real • Takes place in first meeting
- 30. Messaging Workflow Questions to Ask 1. How much of a priority is it for you to implement new cost containment programs? 2. How confident are you that you have a complete understanding of what your options are in the areas of health and welfare? 3. How important is it for you to find new ways to control or decrease benefits and healthcare costs? Pain Resolved 1. It can be difficult to design and implement successful cost containment programs. 2. It is complicated trying to figure out what the best alternatives and options are. 3. It is difficult to control and decrease costs for workers comp, healthcare, and risk. Product Value Pain Qualify
- 31. Call Script
- 32. Email Templates
- 34. Interest Value Pain Qualify Credibility Objections Step 4: Compose building interest points
- 35. Messaging Workflow Product Value Pain Qualify Interest • Communicate ROI • Explain differentiation • Share client story • Paint a picture of the future state • Discuss impacts of doing nothing • Share company facts
- 36. Interest Value Pain Qualify Credibility Objections Step 4: Compose name drop examples
- 37. Messaging Workflow Product Value Pain Qualify Interest Credibility We worked with Direct Industrial and provided them with health and welfare consulting. This helped them to improve their decisions regarding the benefits and that lead to a decrease in medical coverage costs by 10%. Ultimate Benefit Realized Initial Benefit Realized Product / Service Provided Past Client
- 38. Call Script
- 39. Email Templates
- 42. What are Objections • I am busy right now. • Who are you with? • What is this in regards to? • I am not interested. • Just send me some information. • We already use somebody. • We are not looking to make a change right now. • We do not have budget/money to spend.
- 43. Messaging Workflow Product Value Pain Qualify Objections Objection Responses 1. Help manufacturing companies to make better business decisions regarding the health and welfare of their employees. 2. It can be difficult to design and implement successful cost containment programs. 3. How important is it for you to find new ways to control or decrease benefits and healthcare costs? Value Offered Pain Resolved Questions to Ask Building Interest Points Name Drop Statement Interest Credibility
- 45. If You Want More Help Sales Coaching and Sales Consulting • 2 or 5 hour blocks of one-on-one coaching • Weekly 30 minutes one-on-one coaching sessions • Weekly 1 hour one-on-one coaching sessions • Weekly Unlimited one-on-one coaching session • Weekly 1 hour group coaching sessions Contact us if interested – info@salesscripter.com
- 46. If You Want More Help • https://www.youtube.com/user/LaunchPadSol • Or search Sales Scripter • Over 130 videos • Sales Prospecting 101 Training Program • Webinars • Sales Tips • SalesScripter demo videos • Subscribe Go to Our YouTube Channel
- 47. If You Want More Help • Five ebooks – Found at https://salesscripter.com/ebooks/ – Do’s and Don’ts of Cold Calling – How to Get around Cold Call Objections – How to Build a Value Proposition that Generates Leads – How to Build Sales Campaigns that Sell – How to Build Email Drip Campaigns that Convert Sales • The Cold Calling Equation – PROBLEM SOLVED – Found at http://www.amazon.com/The-Cold- Calling-Equation-Problem/dp/1468173545 Check Out Our Books
- 48. If You Want More Help • Week 1 – Understanding the Ideal Sales Process – How to Make Cold Calls – Appointment Setting Tactics – Voicemail Messaging Methodology • Week 2 – Sales Messaging Workshop – How to Get Prospect’s on the Phone – How to Get Around Objections – How to Incorporate Buyer Personas into Your Selling – Overview of a 2-Step Qualifying Process New Hire Onboarding Training Program / Sales Prospecting 101 • Week 3 – How to Build Your Value Proposition – How to Focus on Prospect Pain – How to Get Around Gatekeepers – How to Perform the Perfect Takeaway • Week 4 – How to Build Rapport, Interest, and Credibility – How to Improve Mental Strength When Selling – How to Be a Better Closer * Available through e-learning videos, live virtual, or live in-person * Can be tailored to your business
- 49. If You Want More Help • Build your scripts and campaigns – Call scripts – Email templates – Voicemail Scripts – Objection responses – Key Questions – And more • $49 per month / $29 per month with annual subscription – 30 Day Money Back Guarantee Sign up for SalesScripter
- 50. If You Want More Help • Build your scripts and campaigns – Call scripts – Email templates – Voicemail Scripts – Objection responses – Key Questions – And more • $49 per month / $29 per month with annual subscription – 30 Day Money Back Guarantee Sign up for SalesScripter
- 51. Questions? Michael Halper Founder and CEO SalesScripter mhalper@salesscripter.com www.salesscripter.com
Notas do Editor
- Before we go any further, let’s clearly discuss what value is specifically in the context that we are using it as it can mean different things to different people. When we talk about value, we are referring to the transfer of something from one party to another that has a positive net worth. Now, the important thing to get your hands around with this is that value is an intangible attribute. It is not something you can see or pick up, yet it is definitely there, has a positive net worth. And actually the transfer between parties can be visible when you are aware of the value that exists and you know what to look for, and that is what we will teach you hear today. Let me provide a little more color around that by sharing a few examples. First, it is important to note that value is something that is transferred everyday at a personal level between family and friends. For example, when you bring humor to a group or conversation and make someone laugh, you are providing value as you are improving the conversation from what it would be without that. Or by teaching someone something, being a good listener, providing security, or making someone’s life easier are all examples of providing value at a personal level. You are essentially giving something or contributing something to another person. Once we understand how we offer value at a personal level, we can better understand how we deliver value at a business level. Just as we can improve the lives and interactions with friends, we can do this for our clients as well by helping them to save money, helping them to make more money, by providing valuable information, or again making someone’s day easier. These are all examples of the value that we can transfer from us to our prospects and clients. One important thing to start to get your hands around is that value is not the same thing as the product that you provide. It is what your product helps your clients to do or helps them to achieve.
- Let’s discuss just what pain is in the context that we use it in. Pain is something that is not working well or could be working better for a prospect and this is causing a negative impact. We will get into much more detail and go into examples and we just want to introduce the concept at this point. But at the highest level, one question that can be asked to determine if there is pain is “are things great, good, OK, or could be better?” If things are either great or good, there might not be any pain, or at least not very much. And if things are OK or could be better, there likely is some sort of pain that the prospect is experiencing.
- Hopefully by now you can see how important it is to screen and qualify prospects. Now let’s get into how to effectively do that. We provide you with a 2 step qualifying process. Step 1 is called soft qualifying and it is focused on primarily determining whether it makes sense to meet and keep talking. The main thing that we look at here is, at the most basic level, are there any level of open needs in the area where we have something to offer. We are trying to eliminate those No Need to Purchase prospects as if there is not even a need, let’s not waste each other time. This soft qualifying takes place in the first conversations with the prospect. For example, this level of qualifying takes place on the cold call, or could also be on an inbound call from a prospect, and we softly qualify to identify if it makes sense to continue talking or put a meeting on the calendar. Step 2 is hard qualifying and this is where you dig deeper to identify how the prospect measures up in of the four key areas. The ideal time and place for this is when you are in the first meeting with the prospect.
- Before we go any further, let’s clearly discuss what objections are. Objections are a prospect’s best weapon when they answer your cold call. They are statements or questions that the prospect will throw at you and they are like mini stops signs that the prospect will hold up. They use to try to take a control of the call and take it in a direction of their choosing. And if they begin to feel like you are selling something when they are not looking to buy, they will want try to end the call and will use objections to get there as soon as possible. Now let’s take a look at common objections and ones that you are just about guaranteed to run up against. I am busy right now. Who are you with? What is this in regards to? I am not interested. Just send me some information. We already use somebody. We are not looking to make a change right now. We do not have any budge to spend. Those are eight objections that consistently come up. You could maybe tweak those for your situation, and add a couple that are specific to your products, you would have a complete list of objections to be prepared for. As part of this training, we will explain these one at a time and show you how to get around them.