This Is The ‘Biggest Problem’ With Closing A Sale

The late great public speaker Bill Gove had a rather humorous saying that nonetheless carried a lot of truth to it: “The problem with making a sale is you’ve just lost your best prospect.” While this statement likely elicited a chuckle from you, it encapsulates one of the most bothersome and depressing realities for insurance agents new to the industry — that you can never rest on your past successes because tomorrow, you have to do it all over again.

This can definitely be a “Negative Nancy” way of looking at the world, but it’s a truth with which you have to make peace and come to terms. Here are the best ways of handling it.

 

Focus on long-term goals ahead of short-term

One of the biggest things you can do to fuel your success is stay hungry. Long-term goals help you accomplish this because they keep the adrenaline rush of a closing in check. You’re less likely to run out for a shopping spree or book that Caribbean cruise if you know how small of a slice your sale represents in the overall pie. Allow yourself to celebrate the small successes, but keep those celebrations in check by focusing more on your long-term goals instead of the short-term ones.

 

Realize there are many different types of prospects

Just because you were able to make the sale to one insurance lead doesn’t mean you won’t have a string of 10 or 12 failures. That’s part of the business, and it’s one that you can overcome in time, provided you realize each prospect is unique. That’s not to say they lack similarities, and that’s not to say you should ignore these similarities. Any time that you can spot behavioral archetypes, make note of it. That will make it easier to zero in on the best prospects and to develop strategies for overcoming resistance.

 

Believe in yourself

It can be difficult believing in yourself — even after closing a sale — when you’ve prefaced and followed that success with a string of no’s. Don’t lose heart. Everyone in this profession hears “no” a lot more than they hear “yes.” It’s not necessarily a statement against your sales ability. It could simply be a lead generation issue as opposed to a sales issue. By pouring yourself into every phase of the sales process — from lead generation to engaging and educating the prospect to following up multiple times — you will be in a better position to end the process with a “yes.”

 

Bring prospects to you

When you’re constantly chasing prospects, it can be difficult to make a sale and then wade back into the wasteland. Developing a platform and marketing yourself effectively online can be your ticket out of this particular quandary because it brings the prospects to you, thus placing you in a position of influence instead of need. When this occurs, you are no longer the pesky insurance salesperson, but the knowledgeable agent ready to give advice.

 

In Closing

Gove certainly wasn’t far off with his assessment of closing a sale. When your whole livelihood depends on creating and keeping customers, one “yes” simply isn’t going to do it. You need a succession of conversions, and then you need to keep those conversions with real value. By focusing on long-term goals, recognizing the different types of prospects and how to deal with them, believing in yourself, and creating a platform that brings prospects to you, you’ll be in the best possible position to find success as an insurance agent. Good luck, and remember to keep moving forward!

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