Closing Techniques Every Insurance Agent Needs to Try
When an insurance agent closes a prospect and turns them into a client, it is the moment the prospect chooses to develop a lasting relationship with your agency’s brand. Your website, your social media posts, your search engine optimization – all of your marketing efforts have helped them make this decision. With that in mind, the choice of using the right closing technique is imperative to ensure your presentation is a success with your prospect.
Insurance agents using inbound sales approaches understand these changes how you will relate to your prospect and close more sales. You’ll want to avoid old-fashioned, high-pressured closing techniques. It remains crucial, however, to signal your prospects that now is the time to take action and move forward with selecting an insurance solution.
As with all of your call-to-actions (CTA) in your email communication, or any other marketing effort, if you don’t ask for the sale, you’re less likely to convert your leads.
With that said, it’s all in how you ask for the sale and what you’ve done in your market efforts or during your presentation. Most insurance agents will convert their leads and close a sale as they conduct a needs analysis. A needs analysis is an effective closing technique because it allows you to demonstrate the need of a specific insurance product in a tangible experience for your prospect.
Ask yourself the following questions after deploying a needs analysis:
- Did you uncover any pain points? Were you able to provide reasons that the recommendation of your product is a solution for the pain point?
- Did you verify qualification by leveraging your prospects interactions with your insurance agency’s brand?
- Did you ensure that you’ll be able to deliver the promised value of the insurance product or insurance service to your prospect?
If so, you’re in the right position to utilize the following inbound insurance sales closing techniques. These three modern and effective techniques will take your marketing & closing efforts to the next level.
Asking the Right Questions
With good questions, you can recognize and respond to the objection that may interfere with the buying decision of your prospect. You can also gain a sense for the best way to deliver excellence in customer service to your prospect after the sale. Open-ended questions will get you closer to place where you and your prospect are in agreement with the value of your recommendation. Once you’ve asked enough questions, you can take the next step and similarly close your sale.
Closing with Assumption
An assumptive close requires you to listen and observe your prospects verbal and non-verbal cues to obtain feedback regarding their key points in the sales process. By doing so, you’ll foster the ability to deliver the exact insurance product or insurance service that meets your client’s needs.
This is commonly referred to as an “assumptive” close because it requires you to actually “assume” the sale will be made. However, it’s up to you to help guide the process in an enthusiastic and more hands-on way to help you achieve your close ultimately.
After an insurance product presentation, you may ask your prospect, “Did this meet your expectation?” or “Do you think this may be of value to your family?”
Your objective throughout is to be alert to interest, engagement, and objections that may arise. You will need to take the appropriate steps right away and build a path to the final discovery of interest during your meeting.
Confidence Closes Sales
Closing techniques are never intended to be manipulative. Your closing techniques turn your prospect’s goodwill and enthusiasm into action. When you deploy closing techniques, what you’re doing is fighting against the natural state of complacency. Strong closing techniques kick apathy out of the picture. They eliminate the reluctance and give the prospect clarity on the next steps, just the way you would do for any marketing piece (i.e., email marketing, webinars, or other digital content).
To help grow your confidence and your ability to close sales, it’s imperative that you understand all of the products in your portfolio. Getting a good understanding of the underwriting, the network, the doctors and physicians, or drug formularies helps you to provide in-depth guidance for your prospects. Products are not one-size-fits-all, and all of your prospects have different medical and financial needs when it comes to insurance.
Additionally, knowing your market and the competitiveness of the insurance products and services you are recommending is a true confidence booster. If you feel uncertain when answering your prospect’s questions, it will show and this will affect your ability to gain the trust of your prospect and ultimately affect your closing ability.
Start Closing More Now
If you’re ready to take the next steps to learn about closing techniques, increasing your confidence, and overall general marketing efforts – contact us now! We’re here to help you develop an individualized growth plan to ensure your success as an effective insurance agent. We help you understand your market, your products, and your competitive advantage. Don’t wait! Click here to learn more, or give you can give us a call now at 800-962-4693.