When you’re in the “sales” field, you are under considerable pressure to close deals. That’s true whether you’re on your own or working with others. Your income may be exclusively commission based. That means if you don’t sell, you may have no income other than residual commissions on past business.
With housing costs on the rise (whether you rent or own), escalating food and gasoline prices, climbing utilities bills, and more, it can be stressful to work in a role that offers variable income. Burnout is a legitimate concern.
How can you break through your slump? Take a critical look at your current sales approach. Identify any areas that could use an adjustment to help you overcome your sales plateaus. These nine ideas may help.
1: Be clear in your goal setting. As we have mentioned in other blog posts, we believe that “SMART” goals are your friend. That means they need to be Specific, Measurable (or meaningful and motivating), Achievable (or attainable), Relevant, Reasonable, and Results-based, and Time-bound (or time-sensitive). Read our related blog, Effective Goal Setting: 7 Essential Tips for Successful Health Insurance Agents.
2: Mix up your prospecting techniques. Consider going beyond what you’re currently doing to generate leads and build your network. A broader reach can help you connect with more prospects, generate added referrals, and boost your sales. Consider adding a referral rewards program if you don’t have one. Or refine your follow up to persuade more “declines” to reconsider you as their broker.
3: Deepen your product knowledge. Carriers are constantly adding to and tweaking their product and service portfolios. The more you know about what’s in your favorite health plans’ existing portfolios, the better you are able to match the right solution to your clients’ needs. That in turn will lead to a sales boost and increased income for you.
4: Invest in ongoing training and CE: Beyond increasing your product and service knowledge is the constant need to invest in training that can help you sharpen your sales skills and stay on top of evolving trends in the industry. Be sure to monitor Continuing Education (CE) Credit opportunities available through local, regional, and national trade groups (like NABIP) and your general agent. Word & Brown annually hosts the Week of Webinars (keep an eye out for future dates on our WOW site), which gives California brokers the opportunity to earn as many as 12 CE Credits in seven days.
5: Improve your engagement with customers: Actively listen to your prospects and clients, so you can deliver personalized solutions to address their specific needs and budget. Read our prior blog posts, Understanding the Difference Between Client Relationship Building and Prosecting for New Clients and 5 Tips to Building a Solid Relationship with Your Clients, for ideas. When you offer outstanding customer service, you can build a long-term relationship, which can lead to more business in the future.
6: Get a mentor or pursue career counseling: Don’t be reluctant to engage with other sales professionals. Ask your mentor (if you have one) for ideas on how to move beyond your slump. A sales coach may also be able to offer you independent insights into what could reinvigorate you. Be open to constructive criticism that can help you reset and get your sales back on track.
7: Measure and analyze your performance: If you’ve adopted our suggested strategies for goal setting (see above), you know how important it is that you periodically measure and evaluate your performance. Look for patterns, trends, and potential areas of improvement in your sales process.
8: Choose a business partner you can rely on: Just as your customers want to able to count on you, it’s important you have a business partner you can rely on, too. If you’re not already using a general agent, we encourage you to consider Word & Brown. We’ve been a valuable partner to brokers for nearly 40 years. Plus, it’s easy to get started. Call 800-869-6989 or complete our online registration form.
9: Be persistent and stay positive: We understand the challenges you might be facing. But we know having a positive attitude can make a world of difference. Embrace a growth mindset and follow some of the tips we have shared here. We’re confident you can overcome any slump.
