In the insurance sales process we often talk about the need to gather information before providing solutions to a problem. Otherwise, there is a chance our solutions and the prospect's problems are a mismatch. In the global world of commercial insurance, the close ratio is typically 25 percent. This month we will explore preparation, a vital component of our sales process.
Preparation sets us apart from our competitors. Unfortunately, many producers focus on activity and expend little preparation effort, which affects every other part of their sales processes. To ensure the highest level of success, prepare for the qualifying interview with the prospect. Understand the buyer's value system, identify his or her problems and determine the relationship with the current agency to put together an insurance program that exhibits an overwhelming reason for the buyer to join your agency. To build this specific program, gather some important details.