Want to improve your insurance sales closing percentage? Check out these strategies to close more deals.
As an insurance agent, you know that hitting your sales quota is a numbers game. The more leads you can add to your pipeline or funnel, the more chances you’ll have to close. But more leads can also equal more problems if you don’t have the right systems in place to manage them. Think of Lucy and Ethel at the chocolate factory. There may come a point when you feel like you have too many leads and not enough time, energy, or resources to handle them all effectively. Your closing percentage will suffer if you can’t manage your leads.
Too many leads is a great problem to have, especially when you have the right strategies in place to deal with them. With advanced planning and preparation, you and your team will close more deals and have the bandwidth to keep up with the qualified leads that come your way. Improve your closing percentage and prepare your team for success by leveraging these six strategies.
Automate your processes
The best way to improve your closing percentage is to automate your sales processes.
- Starting with lead generation, leverage technology and insurance experts like the ones at HBW Leads to get you exclusive, double verified leads right out the gate.
- Use a robust customer relationship manager (CRM) software to track communications and status updates.
- Enlist the power of automated drip email marketing to automatically check-in and nurture leads.
- Enable website functionality that lets customers book appointments directly to your calendar. This eliminates the back and forth time sink of appointment scheduling.
Spend time on scripting
It may not be glamourous but spending time editing and revising your call scripts is an excellent way to improve your closing percentage.
- Rehearse your script so well that you can recite it naturally without sounding like you’re reading from a script.
- Avoid buzzwords that come off sounding phony.
- Test your scripts by tracking analyzing sales data compared to what sales scripts were used.
Get the best marketing bang for your buck
Throwing money at different marketing strategies may seem like a good way of improving your closing percentage. But if you’re not deliberate in your marketing choices, you could be flushing money down the drain.
- Use data to support your marketing efforts and make sure you’re getting your money’s worth.
- Track leads to find out which referral source or marketing effort yields successful sales.
Never stop training
Agent training and professional development are key to earning better closing percentage rates. Training doesn’t stop after your first few months as an agent.
- Build regular checkpoints and reviews into your schedule and take advantage of professional development opportunities.
- Record sales calls and analyze them alongside your colleagues. Use them as an opportunity to role-play similar scenarios, especially when overcoming objections.
Practice and anticipate the “No”
Being ready for a “no” will indirectly benefit your closing percentage. If you’re prepared for a “no,” it means you won’t be stumbling over the objection and instead be able to pivot to a selling point. Being comfortable around objection conversations also helps you appear more confident, which can help turn a “no” into a “yes.”
- Have scripts and talking tracks ready for when a lead offers up an objection. Your confident and authoritative response may be just the thing to turn your deal around.
Instead of focusing your pitch on pricing, center your conversation on what your customers are going to get. What value will be added to their lives and how is your policy or product better than their current or previous policy?
- Think beyond money in terms of savings. Is there a time savings feature? What about added protection? You can’t put a price on the peace of mind from an excellent insurance policy.
Improving your closing percentage takes time and energy. Make time in your schedule by leaving the cold-calling to the experts at HBW Leads. HBW Leads will secure your agency verified leads so you can spend more time closing them.