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Use the S.A.L.E. Methodology to Counter Any Objection

Posted by www.psmbrokerage.com Admin on Thu, Nov 20, 2014 @ 02:16 PM

blog pic We all face questions and objections from buyers. The key to creating a nonstop sales boom is in reframing these objections as simple conversation starters that lead towards a sale. In doing so you will reduce your anxiety and will be able to work through them more effectively.


  • S = Stop and listen. That’s right. I am saying that the best first step in answering questions or objections is to stop. Do nothing. Say nothing. Just for three seconds. Three seconds is long enough to create some space, some thinking time between the question and your answer, but not long enough to be awkward.

  • A = Acknowledge the question. When you are selling you want your buyers to be talking and asking questions. That is a sign they are engaged. Silence or apathy is deadly. In order to keep the conversation going, thank them for making the statement. I am not advocating that you agree with them. Just that you acknowledge. A simple statement such as the ones below will do the trick:
    • Thanks for sharing that.
    • You raise an important point.
    • I’ve never thought about it that way.
    • You are smart to be concerned about that.
    • I appreciate you being honest with me.
    Showing appreciation will show the client that you care about the conversation. When you show that you care about the conversation, and value what the buyer has said, they will say more.

  • L = Ask a question and listen to the answer. Before you answer the question you must truly understand what the client is stating or asking. Use one of the following questions to clarify what the buyer is asking for and to help you better form an answer:
    • What do you mean by that?
    • How much of a discount are you looking for?
    • Why is that important to you?
    • Have you seen something else that includes that?
    • What do you like about that approach?
    • Is that a deal breaker for you?
    • How much too high are we?

  • E = Provide an example. The best way to answer questions from buyers is to use the words of your clients. Let’s face it, your buyers will believe your clients more than they will believe you. You are, after all the “salesperson,” trying to earn a living. While most sellers spend their time developing case studies and testimonials to provide outcomes data on their solutions for their website, the best sellers use this data to answer questions and deal with objections posed by clients. Let this become your million-dollar strategy—your killer app, the secret weapon that allows you to exceed your revenue goal year after year.

    Here are two examples.
    • A professional services seller gives this response—after having stopped, acknowledged, and listened—to a price objection: “At ABC Company they were also initially concerned about the price. What they found is that with the reduction in contractors required for data entry from three to one, they were able to save over $100,000 in labor costs in one year. This more than paid for the $24,000 project purchase and provided a four times return on investment in 12 months.”

    • Lee Harbin at Dolphin Professional Services also stops, acknowledges, and listens effectively when addressing a question about the timing of delivery. He then states “The implementation team at our largest client was originally concerned about our ability to deliver a project of this magnitude as well. What they discovered is that our structure allows us to ramp up quickly with the right resources, ensuring that we have never missed a deadline with them in over four years.”


Use the SALE methodology to keep the buyer engaged through the sales process. Remember, the more the buyers are talking the better chance you have to make the sale and create your Nonstop Sales Boom. The minute they shut up is the minute the sales start slipping away.


http://www.eyesonsales.com/content/article/use_the_s.a.l.e._methodology
_to_counter_any_objection/

 

Source: eyesonsales.com

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Tags: closing sales, Sales Tips, sales advice

17 Best Practices of Top Performing Sales People

Posted by www.psmbrokerage.com Admin on Thu, Nov 13, 2014 @ 01:44 PM

blog pic Many people wonder what separates a top performing sales person from the rest of the pack. In most cases, it's because they apply a number of best practices in their daily routine. Here are 17 best practices of top performing sales people.

 

  1. They set HIGH TARGETS and goals.
    Top performers don't wait for their manager to issue an annual or quarterly quota. They set their own goals that are usually more ambitious than the corporate targets.

  2. They carefully PLAN their quarter, month and week, as well as their daily schedule.
    Too many sales people fly by the seat of their pants and only look at the day or week ahead instead of planning their month and quarter. Look at the big picture.

  3. They set OBJECTIVES for every sales call.
    It is essential to know exactly what you want to accomplish before you make your call (face-to-face or telephone).

  4. They ASK high-value questions that probe to the heart of the issue.
    Sounds simple but most sales people fail at this and ask weak, feeble questions. Top performers are comfortable asking tough questions that make their prospect think.

  5. They LISTEN carefully to what their prospects and customers say instead of waiting for your turn to speak listen to your customer.
    You can ask all the questions in the world but if you don't hear what people tell you won't be able to present the proper solution.

  6. They CLARIFY the issue when they are unclear what their prospect means.
    People often say things that are unclear and most sales people assume they know what their prospect means. Top performers take the time to fully understand by asking "What do you mean by that?" of "Can you clarify that for me?"

  7. They WAIT TO PRESENT their product, service, solution or idea until they know exactly what their prospect's situation is.
    The majority of sales people jump too quickly into their 'sales pitch' but top performers are patient and wait for the right moment.

  8. They begin every sales presentation with a brief RECAP of their understanding of the prospect's situation.
    Again, a simple concept but one that is greatly ignored by many sales people. A quick summary of your customers' situation give you the opportunity to ensure that your presentation addresses their key issues.

  9. They know how to ADAPT their sales presentation if their prospect's situation has changed.
    Making changes on-the-fly is challenging but it is one way to stand out from your competition. Learn how to modify your presentation when customer's situation has changed from the time you initially met to the time you are delivering your presentation.

  10. They know how to properly and effectively POSITION their product, service or solution.
    The vast majority of sales people fail miserably at this. They talk, talk, talk but usually end up talking about aspects of their product or solution that have little or no relevance to their customer's situation.

  11. Their sales presentations FOCUS on the prospect.
    Most sales presentations focus on the seller's company, their product, or other trivial information that is of no interest to the customer.

  12. They are PREPARED for potential objections.
    Top performers anticipate objections and plan their response before their sales call.

  13. They always establish the NEXT STEPS.
    Decision makers are busier than ever which means they are more difficult to connect with. Avoid losing contact with a prospect by agreeing on the next steps after every sales call. Do this in face-to-face meetings and telephone calls.

  14. They FOLLOW-UP after the initial call or meeting.
    Many a sale has been lost because the sales rep failed to follow up after the initial call. You cannot rely on your prospect or customer to call you; you need to take this initiative. Set this up during your call or meeting.

  15. They PROSPECT continually to keep their pipeline full.
    It's not uncommon for sales reps to experience peaks and valleys in their sales. This is usually a result of failing to prospect for new business on a regular basis. Avoid the highs and lows and schedule time to prospect for new business every week.

  16. They deal with the DECISION-MAKER whenever possible.
    Dealing with people who have little or no buying authority is a waste of time. However, many sales people fall into this trap because it is easier to connect with people other than the decision maker. And that may be true. However, in the long run, they end wasting their time because they don't close the deal.

  17. They look for ways to KEEP IN TOUCH with their customers.
    A sale is not a one-time deal. However, you need to find ways to keep your name in your customer's mind to prevent a competitor from squeezing in. Top performers incorporate this into their schedule and make it a priority.

 

http://www.eyesonsales.com/content/article/17_best_practices_of_top_performing_sales
_people/?utm_source=facebook

Source: eyesonsales.com

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Tags: closing sales, Sales Tips, sales advice

The Cost of Cancer; Insurance Matters

Posted by www.psmbrokerage.com Admin on Thu, Nov 06, 2014 @ 11:27 AM

blog picCancer Survivors Need Financial, Rather Than Emotional, Support Following Diagnosis:

There are between 14.5 million and 19 million cancer survivors living in the United States. Actuaries estimate there will be an additional 1.6 million cases this year. With numbers like that, there’s a good chance some of your clients are struggling with a cancer diagnosis. Nearly 40% of survivors were able to cover their treatment without incurring medical debt, but of those who weren’t so well-prepared, 30% have $10,000 or more in debt related to their health. Half of those have at least $20,000 in debt.

Make sure you have a strong cancer product in your portfolio - Request Details

http://www.thinkadvisor.com/2014/10/06/the-cost-of-cancer?t=life-planning-ltc

Source: thinkadvisor.com

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Tags: cancer insurance

The Lowdown On Open Enrollment For Medicare Advantage And Part D

Posted by www.psmbrokerage.com Admin on Fri, Oct 31, 2014 @ 12:08 PM

blog picKaiser Health News hosted a webinar Tuesday providing background for reporters covering Medicare Advantage and Part D issues through open enrollment and into next year. Kaiser Family Foundation’s Program on Medicare Policy and an editor from Kiplinger’s Personal Finance spoke about the basics of the plans and answered common questions that consumers, journalists, marketers and agents have.





https://kaiserhealthnews.files.wordpress.com/2014/10/khn-final-for-web.pdf

Source: kaiserhealthnews.files.wordpress.com

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Tags: Medicare Advantage

No Increase in Medicare Part B Premiums

Posted by www.psmbrokerage.com Admin on Fri, Oct 24, 2014 @ 04:38 PM

blog picPremiums and deductibles in Medicare Part B will remain the same next year, saving seniors more than $125 compared with projections, federal health officials said Thursday. The CMS touted the news as a boon to seniors and evidence that the ACA is successfully slowing the growth of healthcare costs. Beneficiaries enrolled in the benefit will pay $104.90 and $147 for premiums and deductibles, respectively, the same amount as this year.


http://thehill.com/policy/healthcare/220255-no-increase-in-medicare-part-b-premiums

Source: thehill.com

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Tags: Medicare Part B

Comprehensive Medicare Advantage Rankings Fact Sheet

Posted by www.psmbrokerage.com Admin on Fri, Oct 17, 2014 @ 09:47 AM

blog picFact Sheet - 2015 Star Ratings
Star Ratings are driving improvements in Medicare quality. We continue to see increases in the number of Medicare beneficiaries in high-performing Medicare Advantage plans. This year there are significant increases in the number of Medicare beneficiaries in high-performing Prescription Drug Plans. The information included in this Fact Sheet is based on the 2015 Star Ratings published on Medicare Plan Finder (MPF) on October 9, 2014.

The Centers for Medicare & Medicaid Services (CMS) publishes the Star Ratings each year to measure quality in MA and Part D plans, to assist beneficiaries in finding the best plan for them and to determine MA Quality Bonus Payments.






https://www.scribd.com/doc/242943563/Medicare-Advantage-Rankings-Fact-Sheet

Source: scribd.com

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Frequently Asked Questions About Medicare Open Enrollment Answered

Posted by www.psmbrokerage.com Admin on Fri, Oct 10, 2014 @ 11:01 AM

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What's new about Medicare this year? What is the prescription drug donut hole, and do you need to worry about it? We asked Mary Dale Walters, who oversees a nationwide Medicare plan selection service, to tell us what she’s hearing from Medicare beneficiaries.


http://www.nydailynews.com/life-style/health/common-medicare-open-enrollment-questions-answered-article-1.1964260

 

Source: nydailynews.com

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Tags: Medicare Advantage, faq,, med advantage enrollment,

Medicare Open Enrollment Is Fast Approaching - Here's What We Know So Far

Posted by Jeremy Davis on Fri, Oct 03, 2014 @ 10:26 AM

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There will be somewhat fewer plans to pick from this year, but in general people will have plenty of options, experts say. And although premiums aren’t expected to rise markedly overall in 2015 - and in some cases may actually decline - some individual plans have signaled significantly higher rates. Although the Centers for Medicare and Medicaid Services has released some specifics about 2015 premiums and plans, many details about provider networks, drug formularies and the like won’t be available until later this fall. Here’s what we know so far about Part D and Medicare Advantage.


http://www.kaiserhealthnews.org/Stories/2014/September/30/Medicare-Open-Enrollment-Is-Fast-Approaching.aspx

 

Source: kaiserhealthnews.org

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Tags: Medicare open enrollment, medicare enrollment october 15th, medicare deadline october 15 2014

New Med Advantage Guidelines Implemented OCT 1st

Posted by Jeremy Davis on Fri, Sep 26, 2014 @ 09:57 AM

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Due to the combined efforts of MA plan sponsors working with AHIP, CMS has revisited the telephonic guidance that was issued on August 14, 2014 which prohibited agents from calling existing enrollees to discuss other plan options (Section 70.6). CMS announced last night that they have decided to rescind this guidance. AHIP was able to convince CMS of the many benefits that our agents are able to bring to Medicare beneficiaries by discussing the new, potentially cost saving plan options available to them.

CMS has made the decision to revert to their previous guidance which states Plans/Part D Sponsors may do the following:"Call members to promote other Medicare plan types, (e.g., sponsors may contact their PDP members to promote their MA-PD offerings; sponsors that are also Medigap issuers may marketing their MA, PDP, or cost plan products to their Medigap customers), and discuss plan benefits."

This change is effective immediately and the Medicare Marketing Guidelines will be updated to reflect this change when the next version of the guidelines is published.

This means beginning October 1 you may call your current members and talk about other plan options for 2015! You can also set appointments now to meet with your members after Oct 1, without discussing any 2015 rates or benefits.


Click here to view the official announcement document

Click here to see the Medicare Advantage companies available thru PSM

Source: Humana

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Tags: New Medicare Advantage Guidelines 2015, New Medicare Advantage Guidelines 2014, New Med Advantage Rules

Medicare vs. ACA Exchanges (A Q&A Document)

Posted by Jeremy Davis on Fri, Sep 19, 2014 @ 09:16 AM

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There's a lot of confusion among many Baby Boomers (and the occasional insurance industry professional ...) about Medicare and how/if/when it integrates with the ACA's Health Insurance Marketplace (Exchanges). The Centers for Medicare & Medicaid Services just issued new guidance that is as beneficial for agents and marketers as it is for consumers:


http://www.cms.gov/Medicare/Eligibility-and-Enrollment/Medicare-and-the-Marketplace/Downloads/Medicare-Marketplace_Master_FAQ_8-1-14.pdf

 

Source: http://www.cms.gov

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Tags: medicare vs aca exchanges, medicare services, medicaid services, medicare integrate with aca health insurance

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