Unlock the power of a sales order system for insurance industry

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if you're interested in selling insurance to business owners and want to know what strategies you can incorporate to get more insurance sales from business owners around your local area then you'll absolutely want to watch this helpful video coming right up greetings and salutations is david duford owner of deford insurance group where i train and recruit agents nationally to sell things like final expense medicare and annuities both face-to-face and over the phone make sure you subscribe if you enjoy this content and give it a thumbs up so today i'm going to give you a little bit of advice on how to successfully sell insurance to business owners around you so the reason i'm putting this video together is because i believe if i wasn't involved in the senior market selling to people who are basically 50 and older things like final expense medicare annuities that would be intimately and very much involved in selling insurance to business owners because of i think a great opportunity to help people who really have problems with that insurance is the only thing that they can solve i used to prospect back in the day when i had a real job working for a company called aramark and what we were taught to do is go door to door and make phone calls on a cold call basis set up appointments and it worked wonderfully well surprisingly so that i've got a lot of experience in that regard about how to prospect and that's why i'm putting this video together to kind of tell you what i've learned in that time several years back when i failed out of the final expense business before coming back what i learned about prospecting business owners and how you can incorporate the same kind of strategies in the prospecting business owner so i'm going to kind of start with you just some thoughts on how to make this work successfully and some strategies you can implement in order to uncover opportunities for insurance sales so first of all i think the best thing you can do is simply prospect by walking and talking and what i mean by that is i think one of the best strategies is just to simply go out there and call on small business owners face to face unannounced by just simply walking in the door asking him to speak to the business owner and developing some kind of pitch or strategy in a 15 to 20 second pitch to see if there's any kind of interest in selling whatever product it is that you're selling so i would personally recommend starting off by targeting small business owners the one thing that you'll run into that you don't get with a lead-based system calling on residential is you're going to experience in larger businesses some sort of gatekeeper that you've got to get around it's very hard to access the business owner as easily in these multi-dozen size organizations because they've got gatekeeper secretaries assistants that basically screen out access to the owner that therefore make the decision of whether or not that person you the prosecutor the agent should be seen by the owner whereas if you call on small business owners the business owner many time is very accessible they're right there in the front office you can talk to them they'll come out and talk to you so it allows you to get in front of people on a more consistent basis that than if you were to go into larger businesses again it's not that large businesses or medium-sized businesses or bigger small businesses aren't necessarily good prospects it's just that i think starting off if you're getting into this you need to have the least amount of obstacles in your way and targeting small businesses is probably the best way to start now as far as some small businesses i think would be a good uh prospect to target really think of any type of businesses where you can just walk in and talk to the owner for example mom and pop restaurants uh even gems personal training gyms perhaps mechanics uh heating and air suppliers uh service techs etc there's all sorts of businesses out there guys that you can easily target because most businesses are small businesses i would make the target process of trying to hit somewhere around 30 doors daily walking into businesses of this kind of size small businesses and developing a pitch that gets an appointment right on the spot or to come back and to do a presentation on whatever kind of insurance that you're selling so to me the target would be 30 doors a day i would collect business cards for those owners that aren't there or maybe if you just can't get around a gatekeeper and then set aside some time on multiple times a week to call those business owners to set up appointments for that week or the following week so i would do end up doing some types of phone calls because some people aren't going to be reachable immediately when you walk in but i think just by doing that you can fill your schedule up pretty quickly with opportunities to help business owners with insurance so why business owners anyway why would you want to target business owners for insurance opportunities so for me i think the big reason is that business owners have problems and i know we all have problems right but business owners have more problems more often than not that an insurance product can actually solve for example business owners commonly have debt you know they funded their startup business with debt and if they die and they leave the business to a loved one or they've got a set of affairs well if they don't have the cash on hand to do so well a life insurance policy is a good idea to cover for that you could also have businesses where there's partnership interest where one partner owns a percentage of the business the other owns the other percentage what happens if that partner dies and then the survivors of the partner now take over and don't necessarily agree on the same level that the partner did and starts screwing up the normal operations of the business which could affect the business altogether so these would be some sort of partnership dissolution agreements uh where you can fund it with life insurance to pay off the survivors in order to buy the shares of the business i think it's called a buy sell agreement these are great opportunities to go into when you run into a partnership type of setting there's also business opportunities for a voluntary payroll deduct so a lot of business owners are trying to grow they're trying to establish their business find good quality people to come join but they don't have the funds necessary to build out a very nice and complete benefits package and this is where a voluntary payroll deduct system may be useful to provide things like life insurance indemnity plans etc and those voluntary payroll deduct plans many times are self-funded by the employees so that the company can offer the opportunity for this but they don't have to put the money up necessarily if they don't want to and again it allows the business owner to provide some kind of attractive benefits package to just help find employees and then retain them for the long term and of course not to mention there's all sorts of opportunities and just simply life insurance opportunities on the business owner themselves to replace their income if they die early certainly health insurance opportunities the list is endless guys and this is why i think targeting business owners is such a great idea because many business owners have pretty good incomes they have very good middle class incomes they have discretionary income they've got the ability and the concern to cover some of these problems that they probably frankly haven't really thought through of covering and many times what you'll find with business owners is they're so dialed into creating and growing and expanding their businesses they never slow down enough long enough to sit down and contemplate how they're going to get out of the business or what happens if the worst case scenario occurs like they die early or get sick and planning for the worst case scenarios um look i'm a business owner and i can definitely understand that that's very much the case when you're neck deep and building your business seven days a week the last thing you think about is retirement or the last thing you think about are some of these things that ah you know dying and being prepared and that happens to other people you're not you're busy living right so if you can get in front of these prospects they become great opportunities for all sorts of insurance which just makes them a perfect prospect in my mind last point i think to understand is that what makes the business market very attractive is this is not a one-time sale transaction you're gonna your goal should be to make the business owner a customer because what will happen over time is that your businesses some of them at least will continue to grow they'll continue to expand they'll start to get market share in their industry and many times they rely on the people that help them get to the point where they are in their business and their prior connections in order to help them as they grow so what may turn out to be a simple term insurance case on a business owner may be some elaborate estate planning deal it may be some large voluntary payroll deduct or employee benefits deal that manifested from that original sale that you made that was you know good but it wasn't a barn burner but this is the magic that happens with some of the business owners that you're gonna sell so what does all this mean and how should you look at this well i think probably the easiest way to get involved in the business segment is to simply lead with one product not to have five million products in mind you know disability uh term insurance iul's etc pick one product that you really like and then craft a presentation around it and go out there and talk to business owners about it my recommendation would be to start with term insurance most people don't have enough term insurance and a lot of people just need something on the books and this is a great way to get your foot in the door and then take that term insurance sale to turn it into something better or bigger of all the other products and that that are out there but at least it starts the relationship because the goal is just to make your business owner prospect a customer because again what happens guys people take the path of least resistance they don't want to go out there and look and research and try to decide who does what if you've made a sale to them and the need arises for more they're just going to use you unless you give them a reason not to so this is the power of making those first initial sales because as business owners for many times more comes from them i hope this helps you give you some ideas on what it takes to be successful selling insurance to business owners and if you are attracted to the style of marketing i assure you it's wide open there's not a lot of agents out there targeting business owners in this kind of capacity i remember talking with the sales trainers and claude whitaker great training check it out if you haven't already and he used to own vacuum storefronts and in all of his years having vacuum storefronts only two insurance agents called on him and he bought from them both times pretty large policies and i remember back in the day i used to have a storefront with personal training my business prior to selling insurance and only one insurance agent ever walked in and i bought from him i bought health insurance he pitched me on life insurance but i didn't buy it i didn't think i needed it but it goes to show you he just showed up unannounced and he won the business and that's half the battle most of the battle probably is just showing up and asking so hope this helps you kind of formulate some strategies and some inspiration to make this happen because i think it's an absolutely wonderful business to get involved with hope you guys have a good rest of your day and if you'd like to learn more about joining my agency click the links above below thank you