Tuesday, February 18, 2014

The Perfect Insurance Agent Elevator Pitch in 4 Steps

 

sales-introduction

Let’s face facts: to the average person, insurance is not exciting or interesting.
Adding insult to injury, I’d be willing to bet that most folks think insurance is a necessary evil and are not thrilled about paying premiums.

Writing new business in an overcrowded marketplace is tough enough already, so when you sound like Ned Ryerson from “Groundhog Day”, the task to grow your book is even more challenging.
So, here’s the million dollar question: How do you go from “I sell insurance” to something that’s actually a conversation starter?

I suggest a short, well-designed commercial known as an “elevator pitch.”
Imagine getting on an elevator and the person standing next to you asks what you do for a living. You now have less than a minute to pique their interest and hopefully get the opportunity for a future conversation.

Wouldn’t it be great to have something planned for such an occasion?
Let’s do it.

First – Create an Intriguing Yet Vague Headline

In order to craft the perfect elevator pitch, you first need an intriguing yet vague headline. I suggest something short and unusual.

For example:
  • “I have an unusual business in a not so unusual industry”
  • “If I told you what I did, you won’t believe me”
  • “I have a niche business.”
Hitting them with something different will create curiosity.
If you lead off with “I sell insurance” you lose the listener at the beginning.

Second – Explain Who You Work With

Let them know the characteristics of the people you want to work with. This statement needs to convey to the listener a little bit about your ideal client.

Typically, the statement begins with the words “I work with…”

Here are some examples:
  • “I work with people who own homes and businesses in the Philadelphia area”
  • “I work with people who own more than one home.”
This is your chance to let the listener know what kind of business you’re looking for.

Third – Give an Example of Solving a Problem

The third step is to give the listener a short example of how you solved a client’s problem.
Typically, these statements start off with “I recently helped a client…” or “A business owner was referred to me looking for ways…“

Here’s an example of what this statement may sound like:
  • “I recently helped a client who’s financially successful. She purchased a multi-unit dwelling and she needed some options to reduce her liability and protect her other assets.”
Be careful, the statement should be no more than 3 sentences otherwise you may sound like you’re selling.

Fourth – Explain The Insurance Part

Now you’re going to let them know who you are and that you’re in the insurance business but you need to do it in a way that maintains the curiosity.

Perhaps it would sound like
  • “I’m Bob Smith. I’m in the insurance business. My clients come to me because I have a unique skill in handling complex insurance needs.”
The purpose of the statement is to create a distance between you and your competitors by letting the listener know that you specialize.

Let’s Put It Together

So here’s what it sounds like when you put the whole thing together:
  • “I have an unusual business in a not so unusual industry. I work with people who own homes and businesses in the Philadelphia area. I recently helped a client who’s financially very successful. She purchased a multi-unit dwelling and she needed some options to reduce her liability and to protect her other assets. I’m Bob Smith. I’m in the insurance business. My clients come to me because I have a unique skill in handling complex insurance needs.”

Finally, here’s a few tips:

  • Write several statements for each of the 4 steps. Use them interchangeably depending on the situation.
  • When creating the statements, brainstorm about what makes up your perfect client and the problems you’ve solved for them. Saying that you save people money on their insurance will attract price shoppers; saying you work with responsible people may help you insure more responsible people.
  • Once you have created several statement for each step, practice, practice, practice!

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