4 High-Impact Insurance Sales Techniques for Better Sales

July 5, 2017
Insurance Sales Techniques

Insurance Sales TechniquesIn many pursuits, moving the needle often comes down to technique. This is certainly true for the insurance sales business, where sales techniques — from your cold-calling sales strategy to what type of leads you work with — matters.

Whether you work with real-time leads or aged leads, these four high-impact insurance sales techniques will take your business to the next level.

Streamline Your Sales Pipeline 

Like a real-world pipeline, your sales pipeline can benefit from regular tweaks, upgrades, and repairs. But instead of tightening bolts and checking for leaks, your sales pipeline needs a different kind of maintenance work. Streamline to make better use of your resources.

Sort your leads for the most efficient workflow. You don’t want warm leads to turn into cold leads or fall off your radar. So put warm leads into their own sub-list so they don’t fall by the wayside. Nurture these leads differently than you would cooler leads. But don’t flush your cold leads out of the pipeline, either — reserve these leads. A “no for now” lead could become a closed sale down the road. Put cold leads on their own very low-level marketing plan, say an email every six months.

Finesse Your CRMS Setup

Efficient agencies do better than inefficient ones. One way to put your business on the right track is to finesse your customer relationship management software (CRMS) setup. An updated CRMS, used effectively, will help take your business to the next level.

Time-saving and business-growing features — mobile integration, marketing integration, and industry-specific tools — are a must for any modern setup. Choose a tool that also lets you track every interaction with your prospects, sales leads, and current clients. The more notes you have on a lead, the more confidence you will be able to bring to agent-client interactions.

Track and Analyze Your Sales Data

Insurance is a sales business, meaning that the key to getting ahead lies in your data. Work on tracking more data points about your customer interactions and sales touches — recurring sales objections, types of products and services they’re looking for, what competitors they’re talking to, where your marketing is performing best, connecting your marketing to closed sales, etc.

What you do with that data matters, too. Put processes in place so that you can see patterns in this data when it emerges. This will allow you to act. And don’t forget automatically collected data, like the metrics from your website, marketing, and CRMS tools. Activate the tracking capabilities of these tools and analyze what you find. Make changes to be more efficient and more effective in sales. Then, next quarter, analyze again and make more improvements.

Add Aged Leads to Your Sales Pipeline

Many insurance businesses run on referrals, outbound marketing, or purchasing real-time leads. Yet another trusted strategy is found in aged leads, leads that are just a bit older. Adding aged leads to your pipeline can take your sales productivity to the next level, offering a better value than other cold-calling strategies and the security of a steady supply of high-quality leads.

Whether you’re still building your first book of business or ready to grow to the next level, an aged lead strategy is the savvy agent’s path to better sales. Nearly 45% of all sales are found in aged leads, and many of those closed sales will go on to be loyal clients for the agent who won their business. Aged leads can be had for a fraction of the price of real-time leads, giving sales professionals a good ROI.

The key to working aged leads comes down to working efficiently with a high volume of low-cost leads. For this you need a system. A smart aged lead system includes all of the above sales techniques and more organized into a system that works for insurance agents like you. You can out more about working aged leads in the Aged Lead Store’s latest ebook.

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