Sales Coaching to Increase Insurance Sales

In any business the first sale is the hardest sale and the insurance industry is no different. When you focus on the right sources you can increase your sales and reduce your efforts. Treat your business like a business, and control how and where you invest your time. It's easy to get caught up chasing after the wrong sources, and when you do it's reflected in your revenue. Being busy isn't being productive. Productivity is about doing the right things at the right time with the right sources.

Focus on your existing customer base and their future potential because that's one of the easiest ways to increase your sales. But don't look at all existing customers as being equal. Recognize that the potential among these existing customers varies dramatically There are three ways this potential varies.

Existing customers hold a potential for: development of a profitable target market for you, repeat and expanded business, and referral to other high potential prospects. Even veteran agents fail to identify profitable potential target markets among their existing customers. Development within a specific target market is one of the quickest ways to develop a highly profitable solid business for you. Look beyond product purchases to customer demographics to discover your potential target markets. Among your customers there are some you enjoy working with that have a high potential value. Pinpoint the commonalities among these customers so you can find more people just like them.

The annual review serves to help you to identify opportunities for business expansion. All customers don't have equal potential for business expansion. Past notes and good questions help you to develop a list of the customers who are most likely to do additional business this year. You want to focus more time and energy on this list of customers than with customers who aren't likely to have additional needs until some time later.

Never ignore or neglect customers who don't have an immediate potential for additional business. Doing so would result in low retention rates and dissatisfaction. Stay connected with every customer to maintain that relationship you've started, but develop ways to make this process automatic. A referral system shores up your insurance sales success by ensuring you properly take care of your customer relationships.

You're supposed to ask for referrals, but you hate doing it because you feel like you're either pressuring your customers to cough up a referral or you're begging for them. You feel that way for good reason. The approach you're using now isn't a very good one. Part of the problem is that you don't know what to ask or how to ask it to get the results you want. As you identify a target market you also want to focus on who within that target market has the greatest potential for you. This will make it easier for your customers to help you to make those connections and they won't feel pressured to do so or like you're begging because you approach it differently.

About the Author

Author: Cheryl Clausen can help you get unstuck. Look here to see how your Sales Skills match up. Could you succeed faster if you just had more time? Improve your Time Management Skills, check this out This article is available as a unique content article with free reprint rights.

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