5 Contact Points Leading to Increased Insurance Sales

Research indicates 60% of middle-class Americans are under-insured yet no more than 2% of those very people are interested in additional coverage. Thus when you contact them they tell you they don’t need it don’t want it and have everything they need. So unless you change the way you approach selling insurance you’re only ever going to sell insurance to at most 2% of the people you contact.

Now that’s depressing isn’t it? According to that research for every 100 contacts you make no matter how you make those contacts you’ll only sell 2 or less of those people. Wow, that’s a ridiculous amount of effort for almost no return.

Those results are even more depressing when you consider your return on your investment. In order to acquire those 2 little clients you invested time, money, and whole lot of emotion. When you look at your entire investment you don’t even break even on many of those 2 out of 100 contacts.

That’s the way it is now but it isn’t the way it has to be. Changing your results is a matter of perception. You have to change the perception of the people you’re contacting.

Out of 100 contacts 98 do not believe they have a need. While you know that 60 of the people you contacted do have a need what you think is irrelevant. The only perception that counts is the potential client’s perception.

So how do you change perceptions? Changing perceptions is the key to increased sales success for your insurance business. You change perception by creating a need where there wasn’t a perceived need previously.

You don’t do that by shouting at your potential clients. You do that by starting from a point they already believe and expanding from this shared belief to new territory. Their need will be found in this new territory.

Some people buy to avoid a consequence, some people buy to obtain a desired future, and some people buy because of a combination of both. Starting from a point of shared interest and belief you can expand to potential consequences and potential gains. This helps the potential prospect logically step through their level of need.

It’s simply a matter of covering 5 points in your contact.

*Common ground understanding, belief, or concern.
*Identification of potentially unpleasant situations.
*Identification of potentially desired situations.
*Agreement there is a need for either the desired outcome or avoidance of the undesired outcome.
*Interest in options to fulfill the agreed upon need.

When you approach a contact from the position of a presumed need you get told by the potential client they don’t have a need. They have an easy way to get rid of you and shut you out. In contrast, when you work to develop a need they may not have even realized they have they don’t want to shut you out and get rid of you. You increase sales and you do so with less effort.

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