Winning as a Strategist

Thinking Strategically Can Lead to Insurance Sales Success

Want to be a better insurance agent or broker? Then consider your strategy. Today’s sales professionals must be at the top of their game to win sales through competitive advantages. Successful sales pros take command of their operations by thinking like a CEO. That demands careful design and execution in every area of business, allowing them to function smoothly, effectively — and strategically.

A strategy is a long-term plan of action designed to achieve a particular goal, most often “winning.” A strategy involves tactics or immediate actions along with premeditation. Strategies are used to make problems easier to understand and solve. To be successful, strategies should be well-designed, rehearsed and executed.

Selling insurance consists of three main functions: activities that create a steady stream of business via leads and referrals, strategies that provide an edge over the competition and efficient closing of the sale. Being a strategist will improve an agent or broker’s appointment ratio and closing success. That’s because designing a sales strategy involves planning sales activities, developing methods of reaching and staying in touch with clients, and uses competitive differences and resources to create business. Creating leads through prospecting, lining up appointments, building potential referral partners and, most importantly, following up, construct the basis for strategic planning.

Strategists provide ideas and systems for their referral partners. The relationship will not be one-sided, with the agent or broker providing all the ideas and information to the customer. That’s because strategists tend to attract like-minded professionals. Thus, the resulting network between the insurance agent and customer will expand the agent’s ability to service the client, as well as will create a steady stream of other leads.

Acting as a strategist makes it easier to get appointments. A strategist will be seen as an expert in his or her field, rather than just a salesperson. A strategist is seen as credible, someone who provides pertinent facts and data. Even when a potential referral source has had a long relationship with another agent or broker, providing credible data encourages the potential customer to see the strategic agent or broker as a trusted advisor and reliable partner.

When in front of a potential referral source, strategic agents and brokers will make a concerted effort to get to know the person and his or her business. Becoming comfortable with the person will allow a strategic agent or broker to search for clues as to the person’s trustworthiness, as well as to determine if there is enough trust to share strategies on how he or she does business. Agents and brokers should not disclose how their systems and strategies work until they are comfortable with the person. There has to be high trust in a strategic relationship. A unique selling strategy needs to be protected.

The goal is not to give every success secret away, but to enhance professional relationships so that there is an even flow of business referral between each of the professionals. Part of the strategy is the willingness to share systems. The value in sharing will guarantee the leads.

Furthermore, with a strategic plan in place, the agent or broker can control the interview and learn information to unseat any competition. As part of the plan, a strategist creates a brand. The brand is then passed on to professional referral sources as a coaching strategy. A unique business plan selling tips and marketing plans add to the level of credibility.

No matter what the unique selling proposition is, have the mindset of a strategist. Preparation and practice for every proposal, appointment, initial meeting and closing is essential. Agents and brokers should enter every meeting being the best in their field, knowing their business plan well. Clients/customers and professional referral sources will soon realize after a presentation that they have witnessed a great strategist, someone who they will want to form a partnership with.

Anybody can be a salesperson. The successful salesperson is a sales strategist.

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