Chapter 6, Pt. 3 Flashcards
Marketing
What are the seven steps to consultative selling?
Prospect & Qualify Set Objectives Make the Initial Contact Probe for Needs Present the Proposal Overcome Objections & Close Follow-Up
Consultative Selling
Provide examples of how to prospect, and what information you would seek to qualify a prospect.
Methods for finding prospects include referrals from existing clients, referrals from personal contacts, newspapers, business journals, asking service employees for leads. Qualifying is the act of ensuring the client has the authority, need, can afford, and that they will benefit from the insurance.
Consultative Selling
What is the purpose of setting objectives?
Identify the prospects needs, and set strategies and objectives to fill them. This may be done via a questionnaire.
Consultative Selling
Making initial contact with a new prospect is an important step of the consultative selling process. Describe why?
Convey a professional image, gain the prospects confidence, demonstrate interest & knowledge in the prospects situation, demonstrate knowledge of products & services, show willingness to help.
Consultative Selling
Describe two ways to probe for needs.
Identify wants and needs of the prospect through active listening and communication.
Consultative Selling
Name the elements of the proposal.
Present an attractive solution to the client and alternative options to the prospect. The proposal should differentiate you from the competition.
Consultative Selling - Overcome Objections & Close
The broker must ask for the business. Following this the customer may have questions, concerns or objections. The broker should take time to clarify and ensure the prospects needs are being met, and then ask for the business again.
Consultative Selling - Follow-Up
Follow up on client satisfaction a few weeks after the sale, and check in regularly. Salespeople who stop at the sale may lose the opportunity to build long-term multiple-sales relationships.
What are the six steps to the buying process?
Problem Recognition Identify & Analyze Solutions Identify Sources Compare & Decide Make the Purchase Evaluation
Buying Process - Problem Recognition
The process begins when the buyer realizes they have a need or a problem which requires a solution.
Buying Process - Identify & Analyze Solutions
The buyer searches for solutions - this is when their need for information is the greatest.
Buying Process - Identify Sources
The buyer decides to look externally - this is when the broker becomes aware there is an opportunity. The buyer begins to qualify the seller.
Buying Process - Compare & Decide
The buyer is ready to choose a seller and is in the frame of mind to buy. The seller who has been the most trusted advisor and the best source of information has the greatest advantage in obtaining the business.
Buying Process - Make the Purchase
The buyer makes a decision and must ensure it will meet his or her needs.
Buying Process - Evaluation
The buyer begins the evaluation process to verify that the solution does meet his or her needs.
