You're Going To Be Great At This!

In the previous post I discussed a few aspects of transactional selling as opposed to relationship selling. The "get in and get out" aspect of a quick transaction means that one doesn't necessarily have to build a rapport with a client at all. But is that a good thing? When I worked for a large insurance company a years ago it was instilled into our brains that we had to build a relationship with our clients. That does not mean we had to be their friend or their confidant, but instead we were to learn about some of the client's interests, family issues and other information that we could draw sales from in the future, as relationship selling has shown to garner more repeat business from the client. Not only will people buy from you if they like and trust you, but they will continue to buy from you if you keep the rapport going. But meaningful relationships are a two-way street, which means that you have to pull back the curtain and allow the client to see your world

Should one try to build a relationship with each and every one of their clients? Not a relationship that depends on being the best of friends, but one where the client and the salesperson get to know each other or finding common interests.  One can argue that relationship selling is old school and that sales people can do just fine through a more transactional approach. The seller sets the price, the buyer accepts it and pays for the product or service and it's done. No "getting to know you" or "how are the kids?", just a straight up transaction. This has been a topic of debate within the sales community in the last few years, so I thought I would take a look at the topic from a couple of different angles because I'm not really sure if there is a right or wrong answer.  As I discuss in my book, my first sales job was with a door-to-door insurance company selling accident insurance in rural areas. We would go to someone's home, unannounced mind you, and t

Last week I received one of the highest compliments an insurance agent can get. My client, whom I have worked with off and on for several years, handed me a sheet of paper with about a dozen names on it. "These are friends of mine. Some are family. I told them what a good job you do and how you don't pressure me into anything. They are expecting you to call them." This was a big surprise because I mention referrals from time to time but don't push for them as much as I probably should. There have been times over the years when I have been chastised by sales managers for not using the litany of Jedi mind tricks we are taught in sales school. Having a nice list of names presented to me on a silver platter is a different matter altogether though. Sometimes I will explain to a client that they can take "ownership" in my business by giving me referrals. The reasoning is that if a client refers me to a friend or family member, I can spend more time working with th

From time to time I like to talk with someone I know and admire, hoping that they will instill some wisdom that can help me succeed. So last week I talked with my good friend and colleague, Jeanne Doran aka The Insurance Goddess. We discussed how she and I met and I asked for her permission to use some of her sage advice in the blog. As a gracious lady, she said yes.  I met Jeanne about 10 years ago when selling health insurance was a viable source of income. She was working for the Gilston Agency in Charleston, SC and I was contracted through them to sell a major medical coverage. I'm not sure if she was a CSR but she helped me over the phone and email with some issues occasionally. Always helpful and a bit sarcastic (like me!), I kept in contact with her, even after she left Gilston. I had a life insurance carrier that I liked to use and got Jeanne contracted.  More importantly, I would call Jeanne when I had questions about health insurance. She was, and still is, a great resour

A few weeks ago a friend and I were talking about all things motivational. We discussed people we knew who needed motivation, including ourselves. Soon we were throwing out names of famous motivational speakers and their speeches, which was interesting since we both mentioned a few that the other had not heard of previously.  Being an NC State graduate, of course my favorite motivational speech is the "Never Give Up" talk given by Jim Valvano at the ESPY awards. At the time, Valvano was in the middle of a battle with cancer and anyone could see that he was physically in bad shape. I learned many years later that he had been violently ill that day and had even considered not attending to accept the Arthur Ashe Award, which was why he was there. As he said in his presentation, his mind was still working. He was on point as he moved the audience to tears and laughter, all the while giving one of the most memorable talks I have ever heard. To this day, I still watch it on YouTube

From the very first day I worked in sales I was taught that there were two subjects one should not discuss with prospects or clients - religion and politics. The reason is very easy to understand, in that almost already has "dug in" when it comes to these two topics and they aren't going to be changing their minds. People are committed to their churches or other places of worship. I can honestly say that I only know of one prospect who changed their religious affiliation, and that was because they were previously "uncommitted".  And when it comes to politics, it is more important now than ever to avoid the topic altogether. A quick glance at social media reveals that there are not many "undecideds" either. In the months leading up to the last election I saw people of varying political stripes making claims, true and false, about politicians and candidates. If they didn't like the information others posted they went after the messenger instead of fa

One of my old sales managers had been in the insurance business for about 40 years and had probably forgotten more about sales than I will ever know. Every Monday morning during our weekly sales meeting he would open up a discussion on any topic related to our work. If one of us was having a hard time closing a client, we would analyze the situation as a group and try to find ways to help solve the problem.  On those occasions when a new agent was having a hard time presenting a product our manager would say that a story would help. In some parts of the sales community, a good story is needed for every situation. If you are selling a car, you need to have a story about someone who bought that car and was the happiest person ever after. Selling homes? You probably have a story about how someone bought a fixer-upper and flipped it for a nice profit.  One note: Don't make up or embellish a story. Someone may actually want to verify it, so make your story truthful.  In the insurance fi

Typically the first post of the new year would be about something like goal setting or making a vision board*. As a matter of fact, I would imagine that most of the sales managers, team leaders and other mentor types are going down that path this time of year. But after the year we just had I figured you could use a respite from motivational talks.  Let's face it. Whatever New Year's resolutions or goals you set at the beginning of 2020 probably got thrown out in mid-March, along with college basketball and pro sports. I considered kicking myself for not hitting the sales numbers that I had set for myself, but what would be the point of that? I think that most of us did pretty good considering the circumstances. My suggestion for you is this: Take 2020 and put it in the past. Forget about and never speak of it again. Much like that shameful one-night stand you had in college, let it be. No one will think less of you as long as you don't mention it again.   As for those reso