7 Tips for Sales Closing Which Every LIC Agent Should Learn
There are two types of risk involved in an individual’s life: Early Death & Living too long. LIC provides solutions for both these risks in the form of LIC Endowment Plans and Term Plans for covering risk of early death and LIC Annuity or Pension Plans for covering the risk of living too long. Whether you sell Endowment plans, Term Plans or Annuity Plans, the goal is same and that is to increase sales and grow your business. Here are 7 tips which every LIC Agent should learn to close more sales.
Communication: Listen More, Talk Less-
There are lots of Communication Skills which we have learned before but the most important communication in insurance selling is Listen More & Talk Less. There is a saying “Well Begun Is Half Done” and the best thing an Insurance Agent can do is let the prospect lead the discussion and find out about the prospect’s needs, their family concerns, future planning and their priorities. It’s not about having the right opportunities; it’s about handling the opportunities right to be successful in insurance sales.
Don’t Sell Plans, Provide Solutions
Instead of directly explaining about your plans and what you are offering first come to a conclusion what your prospect really wants and try to provide solution for that. For example, after discussion with your prospect ask your prospect that if I am not wrong then there are two major concerns of yours and that are your child marriage planning and your retirement planning, Am I right Sir? In this way you can keep your prospect in discussion and will provide a better solution and peace of mind to your prospect. Agents are much more focused to sell plans rather than resolving problems and providing solutions to their prospects. An Agent will only be able to do this successfully if he understands the prospect’s needs carefully.
Highlight Unique Selling Points (USP’s)
Rather than focusing on the technical aspects of an insurance policy, first highlight the unique features of your product and how having your product will help them in terms of their needs. For example, explain how the policy will take care of their family expenses if they become disabled or if they are no more. Be sure to keep their needs and their solution at the center of the conversation.
Leave Something to Remember You
Insurance Plans sometimes requires more than one meeting with the prospect for sales closing as families will need to check their options and put more thought into their final decision. Be double sure that you are prepared with specific product literature that you can leave behind along with your business card, because those prospects who do buy may have questions after you leave and they need a way to get in touch with you.
Ask for Referrals
A “Satisfied Customer is the best source of advertisement”. If you have a happy prospect that you’ve helped in the past than don’t be afraid to ask for referrals. Word of mouth is still a viable and reliable free lead generating tool and always provides good results so always do your best. What you plant now, you will harvest later.
Set Goals and Deadlines
Outstanding people have one thing in common: An absolute sense of achieving the goal and selling is always goal oriented. If you will decide your goal then you will be self-driven to achieve the same but remember to give yourself a set deadline to achieve the goal. “A goal without a plan and deadline is just a wish”. Make sure that your goals are realistic like How many appointments are you going to set this week? How many of those appointments will result in a sale and How many of those will be closed in next week? Rather than dreaming for a 100% close rate, aim to increase your sales by proper follow-up with your prospects. Try to increase your sales by certain percentage every month that will lead you to success.
Give Time to Yourself for Skill Enhancement
You must devote some time for improving your sales and marketing skills. For this surround yourself with positive people, read motivational books or listen to an audio book, regularly attend training sessions and meetings as that will help you to learn about your field and motivate you to achieve your goals and you will become the person who would attract the results you seek.
LIC Agent profession is known as the profession where Sky is the Limit to Earn but you can actually see the Limitless Sky in this profession.