Years ago, a mentor of mine would say the independent agentspace was like a cult, because we all say the same thing when askedto explain why we’re different: “We have great service, we’ve beenin business for 'X' years, we’re active in the community, and ifyou ever have a claim, I’ll be there for you.”

Independent agents, does this sound familiar?

New salespeople are often asked to refine their “elevator pitch”or “value proposition.” This is what you’ll say when a prospectasks why they should buy from you instead of the competition — andit needs to be said quickly, as if you were truly telling them inan elevator.

Sponsored Download

2016 Agency GrowthTrends- download the survey results now.

Download Now

Your goal is to find a differentiator — something thatmakes you stand-out above everyone else — that can bedelivered concisely and consistently by every independent agent inyour office. Differentiators can take many forms — you, youragency, coverage, hours, programs or a need you discover during thethe sales process.

If you don’t have something different than the competition, thenprice is all that matters. I’m not saying consumers aren’tprice-driven, especially in Auto insurance. However, everyonereading this article has clients on the books that received a lowerprice from other agents than the one you offered, but still boughtfrom you. Why is that? Why would they pay more, and how can we makethat the norm, as opposed to the exception?

But let’s be honest: if you need the lowest price to sellsomething, you’re not a salesperson. At least not in thisindustry.

The worst way to start a conversation with a prospect is “Let’ssee if we can save you money” or asking questions such as “Is myquote the lowest you heard”? Re-frame the conversation to “We’llfind you the best coverage for the best price,” and then documentseveral differentiators so when you’re close on price,you’re winning business — because of these uniquedifferentiators.

One thing to remember about differentiators — thinkabout the prospect, and what’s important to them. Too many timeswe’re locked into our day-to-day activities and are inwardlyfocused — “of course it’s important, it’s important tome!” Turn outward and do something critical: Listen to your client.You’ll learn what’s most important to them, and build rapportthroughout the sales process.

In my career, I’ve listened to thousands of recorded phone callsand agents that discuss benefits, features, and build rapport—allwhile touting their differentiators. These are the indpendentagents that have the most success. Agents that focus solely onprice are thinking small and short-term, and don’t write nearly asmuch new business — or repeat business — as theindependent agents that follow the core principles I’veoutlined.

Beyond developing your differentiation and elevator pitch, hereare my suggestions on a few basic methods to convert a higherpercentage of your prospects into new business:

• Don’t “always be closing." Sure, it’s thegoal, but the hard-sell leaves your prospects feeling shellshocked,and likely to hightail it out of your office.
• That said, ask. Asking for the sale willincrease your close rates dramatically. Ask for the sale 100% ofthe time — but do so respectfully.
• It’s not about price. Prospects will alwaystell you the reason they requested a quote is to save money, andthat’s true, to a point. It’s up to you to find the realreason.
• Always stay positive. Negativity is feltover the phone and hurts conversions.
• Embrace rapport. Be a great listener andlearn why the prospect is shopping. You’ll be surprised at howoften they’re not shopping price.
• Be quick. Speed applies to your contactstrategy, quoting process, application taking everything inbetween. The 21^st century consumer expects speed, soyour pace determines whether or not you close a sale.
• Have fun. Prospects can sense a positiveattitude and want to work with charismatic people. If you’re notfeeling it, fake it till you make it!
• Data. Track metrics and learn to use datafor important business decisions. Make statistics visible toeveryone and create friendly competition.

As competition becomes fiercer than ever and direct writers arecommoditizing insurance, independent agents need every advantagepossible to compete.

Stuart Ganis is the founder of Redondo Beach,Calif.-based Ganis Consulting, which provides sales, marketing,operations, and mergers and acquisition consulting to insuranceagencies. Follow him on Twitter @StuartGanis.

Related: Prospecting 101: 6 ways to acquire newclients

Are you following us on Facebook?