In a world of immediate gratification and multi-layered communication, we seem to always want the trick, the magic pill and the secret to sales success. Producers constantly look for shortcuts and the ability to save on effort. Well, there is a secret to sales success: structure. There is a need to have structure in our prospecting, qualifying, referring, organizing, planning, goal setting and sales process. Let's explore this concept further.

Sales process

For more than a decade we have followed the Dynamics of Selling 3-step process in all that we do. The premise is that before a sales professional gathers any information regarding the current insurance program and pricing, there needs to be diagnosis of the relationship with the incumbent agency or broker, along with in-depth research into the value system of the buyer. Everyone has a specific “buying trigger,” and it is our responsibility to identify what drives his or her motivation for change. If you omit discovering this desire for change, you help the agency reinforce its relationship with the prospect. There also must be some concern, pain or problem present in the relationship with the incumbent agency or its level of service. Omit uncovering these problems, and again we're back to being used. Then and only then is an insurance physical in order. Remember, we always diagnose before we prescribe a solution to make sure it fits the value system of the buyer. Our sales process is diagnosis, protection review and presentations of specific solutions to the prospect's problems, and always in that order.

Related: Read September's Stricly Sales, “Spring into action.”

Question prospects

While the typical sales person is really good at making noise, a sales professional keeps it in the form of questions. Asking a lot of questions:

• Quantifies the current relationship and any willingness to change
• Identifies the prospect's value system and concerns
• Identifies issues relative to agency and carrier service performance
• Determines a budget he or she can accept.

Professional sales workers develop the art of asking a lot of questions and keeping it in a questioning mode until the last step in the process–presentation
of solutions.

Industry research

A producer should understand the specifics of the industry he or she is pursuing on a particular account. You should be able to identify the top 10 typical insurance pains in an industry. By researching the industry, you should be able to intelligently discuss the industry, inquire about specific issues that may exist and exhibit your knowledge of the industry by the questions you ask.

Related: Read Tom Barrett's previous Strictly Sales column, “Take steps toward success.”

Understand their business

It is our responsibility to research the industries we work with. We ask our producers to become an ally of the industry and bring a competitive advantage to the prospect as a part of the sales process. Remember, you need to put them in an overwhelmingly better position by working with you, or there is no motivation for change. If you don't have a good operational understanding of the industry, find an account you can volunteer for and allow them to teach and mentor you.

Constant qualifying of each prospect

My personal goal is $3 million in revenue this year. My sales icon is a $7 million revenue producer. Odds are there is a significant amount of time spent on renewing a book rather than looking for new business. With less actual time available for selling, the need to “super qualify” the prospect is essential. Only by shortening the gestation period between suspect and client can you more efficiently manage your time and your sales pipeline. By managing relationships and leveraging them for new ones, you “pick the low-hanging fruit,” which simply means you're working prospects at all levels of the sales process all the time and constantly and efficiently moving them to close. Also remember that for every prospect that comes out, a new one has to go in!

Take good notes

In the Dynamics of Selling process, we call this the “diagnostic appointment questionnaire.” The essence of qualifying a prospect begins with a dialogue (not a monologue from a producer talking head) about the current broker relationship and the basis for change. We move into looking at coverages only after we have:

• Discussed the current relationship
• Built our own new rapport
• Understand clearly the value system of the buyer
• Developed a clear picture of the competition
• Identified issues of concern in the current broker relationship, services and coverages
• Attained a clear picture of the specific rules we must all agree to in order to effect change.

We really do need to take good notes!

Understanding the decision process

Without a clear understanding of the decision process, it becomes difficult for us to create the perfect environment needed to promote and effect change. Remember, 99 percent of all prospects already have “one of us” in their lives. If we don't take the time to bring a competitive advantage to the table that puts them in a better place than they are today, then typically they will consider us a vendor and they compare us on the price, not the value.

Gathering referrals

Look at the inventory of relationships you have (your customer list), especially those where you have placed three lines of coverage or more. Identify your top 10 relationships and go to them with a pre-qualified list of 10 people who you want to work with. Engage them in the process of helping open doors and creating the initial rapport needed to build relationships. By doing so you have leveraged your current relationships to create new ones. Top performers understand the value of “relationship leverage.” Also remember to identify some specific task you can complete to help your current account. Maybe it's providing some good advice, sending them a referral or doing a favor, but acts of kindness beget acts of kindness.

Remember, selling is many times mistakenly construed as a monologue rather than a dialogue. Having those open and honest discussions help us open the door to future opportunities, building on new relationships and change. Engage the prospect in all you do!