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Even the best sales people have calls that go sour. Sometimes a lead that was warm goes cold and other times a client who looks promising walks away. However, knowing when to change up your talking points, delivering your talking points in multiple ways, preparing alternative educational techniques, and asking open-ended questions can not only turn those sour calls around, they can even save some of them. Otherwise, in some cases, it’s best to know when it’s time to give up and move on to the next prospect.

• Get Away from Your Script – Rather than reading directly from a script, trying listing only a few talking points and asking open-ended questions. Scripts can often depersonalize you call and make your prospects feel like just another number on your list. By asking open-ended questions and only using talking points to help you remember to mention key features, you are free to allow the conversation to progress organically.
  
  
• Provide Alternative Information Methods – If you found you’ve caught someone on a bad day or seems to be in a rush to end the call, offer to send them more information. It’s a good idea to have supplemental materials available in version that can be either mailed or emailed depending on the preference of the prospect. Schedule a follow up call to see if you can discuss the materials at a time that is more convenient to them.
  
  
• It is All About the Customer – If you can, it’s important not to blindly call a prospect. Gather your notes from previous conversations to remind yourself what you’ve discussed previously and what points you should make on this call. Knowing as much as possible about the prospect as you can before you pick up the phone reduces a significant amount of risk. Also, though it can be easy to get caught up when talking up your product, remember to focus on the prospect and determining their needs. Apply the information to their specific circumstances.
  
  
• Use Open-Ended Questions – Even after preparing for a call you can find that your research and the client on the line don’t match up. In these cases, don’t panic. Instead, fall back on open-ended questions to discover more about the prospect you are speaking with. Be genuine and concise, asking what you need to know in order to learn about the needs of your prospect.
  
  
• Know When to Give Up – If the call becomes unsalvageable, don’t fight it or let it drag on, instead end the call before you reach a dead end. That way the sale might not be lost, even if the call did not go as well as you hoped. You can choose to schedule another call or follow up with an email. A bad sales call doesn’t necessarily mean the loss of sale. It’s an opportunity to learn from and try again.

The most important tip for calling is to not give up if they go sour. When you approach calls positively, with a good amount of persistence, your sales will be rewarded. Every call is another chance to hone-in and improve your sales strategy. The more calls you make, the more experience you will have, and the easier it will become.

Source: InsuranceNewsNet

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This is the second in a series of articles which focuses on: Appointment Setting Essentials, An Education Based Sales Presentation & Do the Right Thing - Earning a Customer is More Important than Making a Sale.

1. Lead Pre Qualification - After receiving a lead or referral, make sure you are gathering all pertinent client information that could influence the sale. Proper lead pre-qualification is commonly overlooked and can have a large impact on your closing ratio. Your time is valuable and should not be wasted with clients that cannot qualify medically or are not in the buying process. We’ve drawn up a Sample Lead Pre-Qualification Form for you to review.
   
   
2. Value Based Selling - If you’re selling strictly on price, you’re inevitably teaching your clients to leave you. In a residual based marketplace, this can be extremely detrimental to your revenue stream. Here are a few things to consider incorporating into your sales philosophy:
• Educate your client on their options and empower them to make the choice that is best for them. Don’t sell them anything.
• Let your client know that rates are going to increase annually, especially in the Medicare Supplement and Medicare Advantage markets, and not to be alarmed when they are notified of a rate adjustment in the future.
• Be proactive. Call your clients when you get notification of a rate adjustment; don’t wait for them to call you. By proactively calling your clients, you can let them know the rate adjustment was moderate and, based on the current market landscape, they still have one of the best products available in their area.
  
  
3. Earning a Customer is More Important than Making a Sale - Situations will arise, no matter how many carriers you represent, in which the best coverage for your client will be with one of your competitors. In these situations, it is in your best interest to communicate this information to your client and provide them with the contact information to purchase coverage through the other carrier. If you sell the client a policy that’s not in their best interest just for the sake of making a sale, these clients end up being more of a headache than it’s worth. Not to mention they’ll tell everyone they know not to purchase insurance through you. On the other hand, if you do the right thing and help your client get the proper coverage, they’ll happily refer several people to you because of how you conduct your business. Word of mouth can be the best or worst advertisement for an insurance agent. Do a good job and clients will tell 3 of their friends, do a lousy job and they tell at least 10.

Last week’s article covered the Presale Basics: Dressing for Success, Proper Hygiene and Appearance and Punctuality.

Next week’s article will cover Increasing Your Closing Ratio, Cross Marketing Opportunities, How to Obtain Referrals and Technologies to Help Grow Your Business, primarily with CRM and website development.

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Cold calling is an aspect of sales that can make even the most seasoned sales professionals nervous. In reality, cold calling doesn’t have to be such an ordeal. The following are a couple of techniques to help you turn leads into prospects.

• Captured their attention in the first 15 seconds. This is the most important part of the call; it sets the tone for the rest of your relationship with the prospect. Be excited about your product and be sure your energy and enthusiasm comes across in your voice.
  
  
• Use their language & name. If you find your prospect using particular phrases often, write them down and use them in your pitch as well. Try to match their volume, speed, and tone of voice as well. Plus people in general, love the sound of their name so use it often throughout your call.
  
  
• Sell the appointment. If you are prospecting over the phone in your area, work on selling an appointment rather than the product. Some seniors are more comfortable meeting with an agent in person and you will be able to go over all of their options and educate them on the best option for their individual needs in person.
  
  
• Avoid taking "no" for an answer. Instinctively, people react with “not interested” to most sales calls. Avoid this by asking open ended questions like “What has been your biggest struggle looking for the right Medicare Supplement?” or “What kind of coverage do you think you need?” These questions will start the conversation and show the prospect you are taking an interest in their healthcare needs.
  
  
• Use emotion & show the value. Storytelling and success stories are two very good tactics to use with cold calling. Whether you choose a story that shows how grateful someone was to have a Med Supp or a cautionary tale about someone who wished they had, people respond to the feeling they are missing out on something other people have taken advantage of.
  
  
• End the call assertively. It’s unlikely that the prospect will ask you to set up an appointment or send them materials, so it is up to you to ask them. End each call by asking “Are you available to meet next Wednesday at 3PM?” or “To what address should I send more comprehensive information?” When you assume the close, it is harder for the prospect to say no and keeps the door open for business in the future.

Cold calling is nerve-racking but once you get in the grove it’s an instrumental way to increase your prospects and eventually your client database. The more calls you make, the more you will be able to iron out your script and pin point the most effective ways to talk with your senior market audience.

Please give us your feedback!
Have you had success cold calling? Do you have any tips? What did you do to get past the nervousness that cold calling can often bring up?

Source: About.com

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Success in selling to seniors is based on relationships, rapport, and trust. Recently a Forester’s research study concluded that there are three things all senior clients want from their relationship with their agent: to understand what they are buying, someone to be in control of their investments and insurance rather than feeling on their own, and frequency of contact. To maintain contact Rick Martin, CSA suggests a technique he calls "Catch Up, Update, and Referral."

1. Catch Up. Every few months contact your senior clients to catch up and take a personal interest in their grandkids or recent travel. Confirm that they are getting what they need from their insurance product; discuss any difficulties they might have had, and explain how you can solve their issues. Also you should suggest other products they might need such as annuities, final expense, short term care, or long term care policy.
   
   
2. Update. Seniors are interested in the news. With the Presidential election in 2012 political candidates will be talking about strategies to save money, including cuts to social security and Medicare. In these times it’s important to address any worries and fears your clients might have. The more you address their worries and assure them you will keep them up to date with any finalized changes, the more loyal those clients will be to you as their agent.
   
   
3. Referral. A bonus to keeping up with your clients every few months is that you should gain at least two referrals on every call. Explain what you’ve accomplished in the last year and then ask how you are doing so far. When your client answers "great", ask them, "Who do you know who could benefit from my services?" Close to 70% of seniors said their agent relationship was the result of a recommendation from either family or friends.

Catching up with your clients every few months is a great way to take a personal interest in their life, confirm they have the insurance products best suited for them, and request referrals. With satisfied clients staying on the books and multiple referrals a year, you will be able to continue to grow your business in a substantial way.

Please give us your feedback!
Do you use this tactic in gaining referrals? What strategy do you use for referrals?

Source: InsuranceNewsNet

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In the past few years it has become more and more evident that the Internet is not a passing fad. It’s no longer a means of achieving more success but of staying in the game. Therefore, your marketing strategy is no longer "should I be marketing on the Internet?" but "how do I effectively market on the Internet?" This can be a daunting task, especially if you are new to online marketing. The most important thing is to realize all of the opportunities and revenue when you expand your business to sell Medicare supplements online.

It’s no surprise that the role social media plays is huge. In fact, social media is the No. 1 activity on the web, and if Facebook alone was a country it would be the third largest nation in the world with more than 800 million active members. There is a whole new realm of success in internet marketing; here are the three most popular social media websites to be using:

1. Facebook. As I said before, Facebook has the largest reach in social media today. However, it’s important to note that Facebook has a more "relational" sales style than "transactional." Share helpful videos and articles as well as photos from your company events and holiday parties. Steve Savant, author of "How to Become an Internet Sales Superstar" and host of the daily Internet talk show Business Insurance Zone explains, "Facebook is the estrogen zone." His suggestion as you start initially is to request to post photos via a spouse or other family member’s personal page, showing you with clients or at an event. Their friends can comment asking what you do, request a meeting, or offer a referral.
   
   
2. Twitter. Twitter is excellent for getting the word out about your recent YouTube videos, upcoming events, as well as linking to your informational industry articles. With only 140 characters allowed (including spaces and punctuation) it’s important to think of a meaningful message to entice your prospects and clients to click on your link and explore the content further.
   
   
3. LinkedIn. LinkedIn is usually thought of as the “business Facebook” in the social media world. Though it is not as social as its counterparts, their Groups are a great way to network and discuss industry topics with those who can relate. Also, your profile will allow you to connect with past coworkers who might provide referrals and connect with other agents who you want to work with.

To help spread the word, put your social media URLs on your e-mail signature and company stationary. Let your clients know they can find industry news and continuing education about their plans by "Liking" your page or "Following" your Twitter. Also, you should link to these sources on your homepage to further the information prospective clients have access to.

Though breaking into the social media sector may seem overwhelming at first, the referrals and business commissions are worth the extra effort to get involved. If you need any help or have questions, please call you marketer at 1-800-998-7715 for more information.

Please give us your feedback!
Do you use social media in your marketing? How has it helped you in your business? What did you do to get started?

Source: InsuranceNewsNet

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The Heartland National Life Insurance Company was founded in 1994 in Lee’s Summit, Missouri. Today, they have sales totaling 20 million which makes Heartland National one of the foremost Senior Health and Life Insurance distributors in the United States. The company has a conservative, no-nonsense approach, with unsurpassed service and quality insurance products for their agents and policyholders.

Heartland National Medicare Supplement is available in many states. They offer plans A, D, F, G, M, and N to all qualified, contracted agents. Plans are affordable and easy to sell with vested commissions and a quick turnaround on policy issue. Their application is a simple yes/no format and claims are usually paid in five days making the entire process quick and efficient.

The Heartland National Medicare Supplement product specializes in helping seniors with fixed incomes because they understand the importance of full coverage supplemental benefits for their consumers. With service exceeding expectations, you can be assured that your clients will have the support they need for their Medigap policy. Plus, Heartland National Medicare Supplement is available in all fifty states, no matter where they purchased their policy. Policies have unlimited lifetime benefits for as long as consumers keep their policy.

With low monthly premiums, the Heartland National Medicare Supplement is very competitive in several states. Be sure to include this economical plan in your portfolio to coincide with your client with fixed incomes. Please contact your marketer at Precision Senior Marketing, 1-800-998-7715, for more information and to get contracted to sell Heartland National Med Supp.

Please give us your feedback!
Have you heard about Heartland National from clients while prospecting? Are you excited to add this product to your senior market portfolio?

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As a senior market agent, it’s important for you to understand the best products for your clients as they age and experience retirement, income changes, and death of loved-ones. Younger seniors, older seniors, high and low income seniors all have different needs and it is your responsibility to understand them and choose the products from your portfolio to fit their needs best. These strong relationships will result in more referrals and assure the longevity of your business.

Here are five main senior-types to consider:

1. Young Seniors – These seniors are just reaching their Medicare eligibility and being bombarded with options to consider for their health and economic futures. The process is often confusing, so it is important to take time with these clients, find out their plans for the future, and choose the products right for them. For those ready to travel and do the things they couldn’t do when they were responsible for raising a family, a Medicare Supplement might be the best option. For those who are happy to stay at home and within a network, Medicare Advantage might be the right fit. It’s also important to review their retirement income and begin discussing annuity options, which will provide guaranteed income for as long as they live.
   
   
2. Older Seniors – For those aged 90 and up qualifying for insurance plans will be significantly more difficult. For these seniors it is important to review their portfolio and make sure all of their beneficiaries are correct and their investments are risk free. Review their supplemental insurance plan to see if there may be a better fit, especially in states like New York and Connecticut where there is no medical underwriting on Med Supps.
   
   
3. Low-Income Seniors – Start by reviewing their financial situation and confirm they are signed up for the best Medicare (and Medicaid, if necessary) plan. Also, many states have programs to help pay for their medications, so look to see if they qualify for that assistance. For a low income senior it is more about asset accumulation than asset protection.
   
   
4. High-Net-Worth Senior – If your client has assets over $1 million often times you will find you need to partner with other financial professionals like tax attorneys and CPA’s in order to insure all of the client’s financial bases are covered. For these clients you are working to protect their assets and insuring their returns are consistent.
   
   
5. Widowed Senior – For those who have recently lost a spouse it is important to make sure they have secured the benefits they are entitled to in their spouse’s death, and then work with them to develop a spending and asset protection plan. It is especially important to discuss long term care or short term care insurance with them, as they may not have any family nearby and should be protected in case they should need assisted care.

With all seniors it is important to be flexible and present the products that will work best for their individual needs. By customizing each client’s portfolio to fit their specific needs you are gaining clients who will be confident in your ability to adapt as their needs change.

Please give us your feedback!
Do you work with a variety of senior's in a variety of health and economic situations? What helps you customize each plan for them specifically? Or, do you prefer to prospect with one specific type?

Source: Agent's Sales Journal

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MedAmerica Insurance Company is a subsidiary of a $5 billion not-for-profit health care company that finances and delivers health care to more than 2 million people. MedAmerica has been focused exclusively on providing financial solutions for chronic care situation since 1987. Known for their hassle-free service, strong financial performance, and commitment to improving aging adult’s quality of life, MedAmerica is now offering a new product called Transitions Short Term Recovery Care Insurance.

Short Term Care Insurance is made for when your client’s fall into a difficult time, whether in a nursing home, assisted living, or home care. It allows time for planning and making critical financial decisions between the incident and Long Term Care, if deemed necessary. This product was created specifically for your Baby Boomer clients; it is an innovative product that brings peace of mind to their families in times of crisis.

The Transitions product pays for daily charges up to a capped amount determined by the policy and also has a lifetime pool of money which can be restored after 180 days of not needing care. It offers an inflation option and has a waiver of premium, 21 day bed reservation, or 14 day respite care benefit if necessary. Plus, there is a 10% discount for clients with a spouse or domestic partner, regardless of whether one or both apply for coverage.

The policy also includes the MedAmerica MyCare Program, an optional program available at the time of claim that may not be necessary if the insured has a Long Term Care policy. MyCare provides expert advice, quality care assurance, and enhanced family connection. This benefit is paid out of the lifetime maximum pool, is up to 6 times the daily benefit maximum. The insured can access this when he or she is eligible for receiving payment of benefits.

Transitions has an easy design, process, and application. The application questions are Yes/No with quick underwriting leading to a much shorter decision period. Also, nine month advancing is available. Make sure your portfolio has this option available for when your clients request it.

PSM is excited to launch MedAmerica Transitions Short Term Care Insurance. Give your marketer a call today to get contracted.

Please give us your feedback!
Have you sold a Short Term Care product in the past? What tips do you have for those just looking to expand their business to include it?

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It's the first night of the five-day cruise you've been looking forward to for months. You sit at your dinner table and meet the people you are going to dine with for the next week. After getting to know them, you find out that one couple is retired and about to turn 65. A light bulb goes on in your brain. When they ask what you do you causally say "I am a senior insurance agent." The couple lives in a whole new area, most likely has several referrals, and you have wanted to expand your business to prospect over the phone. You then start to decide how to ask them about their health insurance coverage. This opportunity, just like meeting people on planes or hotel resorts, is an excellent way to casually prospect. As we sit in the middle of summer, many agents are taking their summer vacations for some rest and relaxation; and, as InsuranceNewsNet notes, "many [agents] have a dominant selling gene that drives them to see every situation as an opportunity."

Here are some tips to handle selling while on vacation:

• Be "Them"-Centered
  When starting to prospect in a casual vacation environment it's important to ask a lot of questions and let the prospect lead the conversation. They may have questions or concerns, which you can touch on, and then give them your business card and website address for additional information. Michael Wall, president of Wall Financial group advises, "People have their guard down and you are having a conversation. You don't know where it will lead, but you also don't need to write an app."
  
  
• Have a Door-Opener
  One suggestion is to wear a shirt with your company name that sparks an interest from other people. When they ask about it, you can explain what it means and who you are, and continue the conversation from there. If the conversation is positive, give them a business card and tell them to visit your website. You will be amazed how your brand will resonate with them later on.
  
  
• Let Them Pursue It
  It's not necessary to pursue business while on vacation, but sometimes an occasion comes up that is worth looking into. The "who are you and what do you do" questions happen everywhere you meet people, so it's important to respond proactively and be open to business, since you never know who could be a great prospect. Chris Bradley, a senior life specialist says, "I definitely have balance, I work hard and I play hard. And I don't push."
  
  
• Remember not to go too far
  Obviously, you don't want to be the guy at the party everyone tries to get away from. Keep the conversation open and only answer the questions they ask without, as Bradley puts it "shoving the products down their throats." Vacation is not the time to pressure prospects; instead it is a great time to open your business to new areas and people who presumably have more referrals.

Be approachable, friendly, and helpful if you decide to prospect while you are on vacation. Steve Kloyda recommends, "You should give a little information, and then arrange to talk later."

Please give us your feedback!
Do you prospect while on vacation? Or do you prefer to separate your work? If you have prospected while on vacation, how did it go? Have you expanded your business as a result?

Source: InsuranceNewsNet

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