I've been doing business with the same dry cleaner for several years. The owners of the dry cleaner are a Korean couple who came to this country about 30 years ago. They are research biologists by education, who in their words, "got tired of staring into a microscope" and decided to go into business for themselves. They are in their store six days a week, from 8 a.m. to 7 p.m. They have two daughters in college; one is pre-med. The store is convenient to me because I pass by on my way to the office.
About a year ago my wife mentioned a new dry cleaner had just opened up near our home, and it offered a sale on shirt laundering for 99 cents each—less than half what I normally pay. She was surprised when I showed no interest in trying out the new store. (To put it kindly, she believes me to be an overly careful shopper.) When she pressed the issue I said, "Look, I'm happy with our current cleaners and they're convenient." To which she responded, "But the new place is even more convenient, and they may do just as good of a job, for a lot less money." After some additional back and forth, I finally said, "Lynda, we know these people. They eat in the same restaurants, shop in the same stores. I would just feel very uncomfortable if we stopped doing business with them."
This got me to thinking about the dry cleaner I patronized in our old neighborhood. I didn't think twice when I stopped doing business with them. What was the difference? The previous dry cleaner was a large chain where I didn't have any kind of relationship with the store clerk. In fact, it seemed like there was a different one each time I visited the store. One Saturday evening when I tried to pick up my shirts and found their door locked, the clerk's response to my knocking was to point to the clock on the wall. It was exactly closing time, 6 p.m., straight up.
On the other hand, you could count on the Lees to be open at least a half-hour past the posted time, and if I left my wallet at home, no problem, my credit was always good. Months after my wife's foot surgery, they would inquire about her recovery each time I came to their store. And if I had an especially large order, Mr. Lee would help me carry it to my car.
So what is this all about? As Jeffrey Gitomer, author and sales authority, stated: "If given a choice, people will connect with (and buy from) those they like and can relate to."
Could it be there is some connection between my experience with the dry cleaner and selling insurance? Are some insurance sales made and accounts renewed for reasons that have little to do with coverage, service or price? Is it possible that the relationship "card" can trump all the others? If so, how can producers accelerate the process of getting to know their prospects? Let's examine five ways.
One of my top producers told me that shortly after he graduated from college he applied for a job with a local bank, and was interviewed by the bank president. The first question in the interview was, "What do you know about our bank?" His answer was, "Nothing, really." The bank president continued with the interview but at the end suggested that the producer never, ever interview for a job without researching the company. He was not called back by the bank for a second interview. Today, this producer researches every prospect prior to the first contact in order to learn what he can about them and their business. After all, when selling insurance, aren't we in fact applying for the job as insurance agent?
Learn everything you can about your prospect before the first meeting. Check out Google or Reference USA, and access social networking sites like Facebook and LinkedIn to identify friends and associates you may have in common. Prospects who are otherwise unapproachable will welcome you if you are referred by the right person.
Years ago a marketing rep from a publishing company made his annual visit to my company. Much to my surprise, he began our meeting by asking how my daughter was getting along after a bout with a life-threatening illness the year before. I was taken aback that he would remember our conversation in such detail. He smiled and turned his laptop toward me so I could read his notes in my account. Was I any less impressed because he had captured the information in the file, and wasn't really remembering our conversation? No, I was flattered that he would go to the trouble.
More than 20 years ago Harvey Mackay wrote in "Swim With The Sharks" that his salespeople earned more than double his industry's national average income. His company has never lost a major account in 45 years of manufacturing envelopes. How? By getting to know their customers better than the competition with a questionnaire called the Mackay 66. Interestingly enough, not one of the 66 questions had anything to do with the printing business. Instead, the questionnaire collects information about the client's family, attitudes and personal interests.
One of our top producers recently told me he had dropped by to see a prospect six times prior to asking for a sit-down meeting. I said, "Six times! What did you talk about?" "Not insurance," he said. Insurance is not high on the priority list for most prospects. In fact, it's probably not on the list at all. The only time most people are really interested in insurance is when they have a claim.
Prospects are interested in their businesses, families, hobbies, churches, clubs and sports.
One very effective technique to help you engage a prospect in conversation is to find something the two of you have in common. When the prospect begins to identify with you, the relationship begins.
Reflect on something Lou Holtz, noted college football coach, has said: "I ask our players to follow three basic rules: Do what is right, do your very best, treat others like you'd like to be treated." Those rules answer the three basic questions we ask of every player, and every player asks of us. The questions are: Can I trust you? Are you committed? Do you care about me?
4. Speak your prospect's language
Speaking your customer's language means avoiding "insurance-ease," the language of our business that should only be used among those within the industry. How much insurance expertise do you think even your commercial clients have, given that they typically deal with insurance matters only at renewal time? When you fail to translate policy features into benefits easily understood by those outside the business, don't be surprised when your prospect makes a buying decision based on price. It may be the only part of your presentation he or she understood.
Speaking your customer's language also means doing business the way your customer wants to do business. Studies of top salespeople show they mirror their customers in every possible way. This includes the words used, body language, the ebb and flow of the conversation, and even the breathing patterns of their customers. In addition, speaking the customer's language means getting to know his business and understanding his concerns beyond purchasing insurance.
As an older agent told me when I first entered the business: "You've got to become a chameleon." Chameleons, of course, take on the characteristics of their environment.
Sometimes we do everything right—by the book. We've done our homework, gotten to know the prospect, identified coverage gaps, saved them money, made a dynamite presentation, but we still don't get the sale.
Just as it takes time to make relationships, your prospect may need more time to break the relationship with the incumbent agent. Even if he is not receiving good service, or doesn't have the appropriate coverage or is paying too much, it's difficult for a prospect to "fire" his agent. He may not even like his agent, but he doesn't know you. You could be worse!
Recognize the prospect may not be ready to buy today, but the relationship you are building may well pay off at a later date. Assuming the account is worthwhile, continue to develop your relationship with the prospect, and the sale may be yours next year, or even the year after that.
Remember, relationships can trump everything.
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