Have you heard? Urgency sells. Here are three strategies to leverage urgency as a part of your sales discussions with prospects and clients.
Overcome overthinking: A common objection voiced by customers may be what is sometimes referred to as decision paralysis or choice overload. Your client is so caught up in the idea of making the wrong choice that he or she doesn’t want to make any decision at all.
Maybe there really are too many options on the table. That can make it difficult for some to decide. If your clients start to have doubts, they may think less of themselves – and their anxiety may undermine making a choice, good or bad. Consider how you can narrow the options and move them toward closing.
A good response to analysis paralysis is to simplify the decision-making process, while also leveraging urgency. People are often influenced when they know others have a positive reaction to something. (It’s a sort of herd mentality.) If you have worked with another employer of comparable size, employee demographics, and facing similar challenges, consider sharing client testimonials or stats as to how and why Product A was the right solution for your other client. Discuss how your experience with that other small business could benefit your new client’s employees, while also helping keep their costs in check.
Promote your exclusivity and/or or value-adds: If you have access to carrier or general agency value-adds that would make it easier for your client to buy-in and move toward closing, use those to your advantage. For example, some carriers offer wellness or other programs that could help you seal the deal. If you’re a CaliforniaChoice broker, don’t overlook the value-added benefits of a Premium Only Plan (POP) that allows employees to pay insurance premiums pre-tax, while also reducing the employer’s tax liability. Free or discounted Flexible Spending Accounts and COBRA or Cal-COBRA billing services could also tip the scale in your direction and move your clients toward a successful close.
Be upfront about increasing prices: Of course, we all know pricing can be a major urgency trigger. If you know one of your carrier partners is planning a price hike in the new year or next quarter, tell your client. They’ll appreciate the heads-up and their fear of missing out on a lower rate can often provoke them to act in the new term.
For other tips on closing, read our prior blog, 7 Proven Techniques for Closing Insurance Sales Successfully.
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