Guest post by Liran Hirschkorn
I love it when I have that first interaction with a lead or prospect. Maybe I spent 15 or 30 minutes on the phone, and at the end of the call the prospect decides to apply for life insurance. It doesn’t matter if this is my first or 10th application for the week, I still get excited every time. I get charged up.
Unfortunately most initial calls with prospects don’t end up in an application right away. People want the quotes emailed to them, they want to look it over, they want to shop around, they want to discuss with their spouse, or maybe they aren’t really serious at all. We all get these types of prospects and it’s very easy to get disappointed after a call like that and expect that we will never hear from that prospect again. And we’re probably right; chances are the person will never contact you again.
My recommendation is that you should still get charged up and get excited. If the person expresses an interest in seeing quotes or discussing the insurance with their spouse, chances are that they are a genuine prospect. It’s up to you to stay involved, organized, and follow up.
If you have a system in place to send emails to the person and to make follow up calls, then every so often you will find “found money” sitting there, waiting to be collected by you, a real salesperson that takes the necessary steps to close the deal.
I experienced that this week, which inspired me to write this blog post and share with others. When you are selling life insurance on the phone, you haven’t yet established a relationship even with a 20 or 30-minute phone conversation. By following up, you establish yourself as a professional, and differentiate yourself from the rest of the agents calling.
Here is my specific example:
I got a lead and made contact with the prospect on October 10th. We discussed their needs and I gave them quotes, which they asked that I email to them. I followed up with them a week after as they requested and didn’t get an answer, so I left a voicemail. They didn’t call back – and I didn’t expect they would.
Well I called again this week. They picked up, and we applied for a non-med policy, that is already pending approval. I expect to get over $700 next week into my checking account. All because I was organized and followed up. The client hardly remembered me when I called, but I was calling at the right time for them to make a decision.
This gets me charged up because I know there is money waiting for me if I simply follow a process every day in my business. Selling on the phone is different than in person, but if you have a system and game plan it can be rewarding and fun.
Liran Hirschkorn runs ChooseTerm.com where he helps individuals get the right policy at the best price. He has been in the financial services industry for 12 years and transitioned to run his insurance practice from home in 2012.