Does cold calling still work? Believe it or not, it does. In this day and age where people screen their calls, 82% of buyers schedule appointments from a cold call.
That’s promising for all industries, even if you sell insurance. It’s a necessary part of the sales process. The best insurance agents know how to sell insurance over the phone.
It’s not easy to do, and it’s definitely not for the faint of heart. How can you make selling insurance over the phone easier?
Keep reading to learn the top tips to sell insurance over the phone.
Table of Contents
1. It’s a Numbers Game
Cold calling to sell insurance is a numbers game. Most estimates say that only 1% to 2% of calls result in a purchase or appointment.
That means you have to have 100 conversations just to get one sale. That doesn’t include the number of dials, because you know that most people won’t answer their phones.
Aim for a certain number of dials every day. Assume that a certain percentage of leads will pick up the phone. You might not have 100 conversations a day, but do what you can to have several quality conversations each day.
Check the quality of your list if you aren’t getting anywhere with your sales calls.
2. Prepare for the Call
Preparing for the call is necessary to get past the initial introduction. You should know who you’ll be talking to and have a general idea as to what their needs are.
Your lead will bring up their insurance carrier. You should know how your insurance company compares to the competition.
Keep your space organized. You don’t want to be in the middle of a call, scrambling for a fact sheet.
Use a CRM to track your calls and leads. Review the notes before your next call.
One forgotten piece in preparing for the sales call is goal setting. You know that you’ll get 1-2% of people to buy over the phone.
What about the rest of them? Your goal should be to get them to the next step in the sales process. That’s to schedule an appointment with you.
You’ll then want to track the number of dials, conversations, appointments, and sales. That will help you analyze different areas of your calls.
For instance, if you get people to schedule appointments and don’t close them, you’ll need to adjust your appointments process.
3. Use Cold Calling Scripts
Does it seem like the best insurance reps smoothly handle every type of call? They might make it look easy, but you can bet hours of practice went into it.
Sales reps think that they don’t need a script, but it’s the most important part of the call. It allows you to communicate effectively.
Cold calling scripts range from basic notes to a list of questions to ask. They let you set the agenda for the call, ask the right questions, and establish rapport.
4. Rehearse Your Opening
The first few seconds of the call determine your success or failure. That seems like a lot of pressure, but the reality is that your opening is that important.
Rehearse this part of the opening so you’re not caught by surprise when someone does pick up the phone.
Your introduction should be short and sweet. Tell people who you are and the reason for your call. Then launch into a couple of questions to establish rapport.
Don’t ask people if this is a good time to call. You’re only giving them a reason to get off the phone with you.
5. Always Follow Up
Following up needs to be part of your strategy. Most people aren’t going to buy insurance right away from you.
It requires several conversations and calls. If you don’t follow up, your insurance career will tank.
Always follow up and do what you say you’ll do. Those are simple things, but if you can’t keep your word, you won’t get the sale.
6. Anticipate Objections
People want to be assured before they make a purchase. They’ll have objections about buying insurance over the phone.
Anticipate what the objections will be and prepare to overcome them. This might be a section of your sales script.
7. Listen and Advise
Your job during the sales call is to learn as much as you can about your leads. This enables you to qualify them and give them the best insurance products possible.
Ask questions, listen, and advise. The person you’re talking to doesn’t know much about insurance. Educate them and you’ll earn their trust and business.
8. Build Rapport During the Call
It’s hard to build rapport during a cold call. This is where your preparation comes into play. Do a quick search of the person online and see if you can find information about them.
For instance, you can look at their LinkedIn profile and find a common connection. Use that to build rapport with the lead.
9. Use Several Tactics
You can use several marketing tactics to stay in front of customers between calls. For instance, you can send a follow-up email after leaving a message.
People will check out your website to learn more about you. Make sure your site is up-to-date and ready to handle that traffic.
10. Have Confidence
It can be defeating to know you’re more likely to get cursed out and hung up on than get a sale. It’s hard to maintain your confidence day in and day out.
If your confidence is taking a hit, it’s best to step away from the phone and go for a walk. Refresh your mind and your attitude for a few minutes.
Your attitude comes across over the phone.
Sell Insurance With These Cold Calling Tips
Cold calling is one of the most difficult skills to master. For insurance agents that master this skill, they can sell insurance with ease and make a lot of money.
If you enjoyed learning the top tips to sell insurance over the phone, you’ll get a lot out of the other articles on the blog. Check them out today!
