Tuesday, December 21

So that’s what it really means

One objection I’ve occasionally heard from customers centers on the manner of paying for insurance policies rather than the amounts paid.  For example, a customer offers no resistance when I say that a particular policy will cost $30 per month, but when I go on to add that the normal method of payment is by automatic checking account debit, the customer will sigh and say “Ugh, just another bill each month.”  For that reason I was thinking that maybe it would be better to start the discussion with the yearly price (“For just $360 you get a full year’s protection”) and then add that we have a monthly payment option.  People might find it less scary to make a single large payment than to face another monthly bill.

At today’s new agent meeting, held a day earlier than usual due to the holiday, I found out that the “just another bill” objection is in the same category as “let me think about it” or “let me talk it over with my wife.”  In other words, a customer who raises the objection is not interested in the policy, or at least needs more convincing to get interested, and uses the objection as a way to avoid uttering the dreaded word “no.”  Presenting the annual price as the first option won’t do any good.  Now, this is not the same as price resistance, which happens when a customer shows interest in a policy but thinks the price is too high.  In most of those situations it’s possible to present lower-cost alternatives.

Following the meeting, which also went over some useful referral-approach techniques, I met up with another agent to make some customer calls in eastern Suffolk.  It often is better to work in pairs, though given the time of year I’m not sure anything would really help.  We left more of those door hangars and spoke with some people, though fell short of making any actual sales.  One amusing thing happened when I drove up a customer’s driveway, the street being too narrow and too heavily trafficked to allow for safe parking.  It was the most impossibly steep driveway I’ve ever seen in my life, and keep in mind that I’m originally from a very hilly city in Connecticut.  It was an old house, obviously built long before the enactment of building codes.  You’d never get approval for such a ridiculous driveway today.

Gym: it was very late before I was able to arrive, so I did a bench-only session and will save the back and shoulder work for tomorrow.  I decided to try a 10 x 3 session: 6 x 135, 4 x 185, 4 x 205, 10 x 3 x 225, 10 x 185.  None of the sets at 225 were at all challenging, the next time I go for a 10 x 3 I should go up to 230 or even 235.

Published in: on December 22, 2010 at 4:14 pm  Comments (1)  

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One CommentLeave a comment

  1. really cool and nice article

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