What is a great closer?
Closing is one area in the selling profession which is continually misunderstood. Is a great closer manipulative? No. Is a great closer too aggressive? No. A great closer is one who knows how to move a prospect toward a decision which is in the best interests of the prospect.
Allow me to ask you three questions: what was largest annuity or life insurance case that you ever wrote? Were you happy the day that you wrote that case? (smile) Have you spent the commission you earned on that case?
Now let’s look at your client. They bought an annuity that increased, and how much in income taxes have they paid on the interest? Not a penny unless they took a withdrawal.
So who is the real winner? Not you, (smile) you spent the commission. The real winner is the consumer who is enjoying the benefits of owning the product that you recommended.
One of the obstacles we face: acting.
Acting involves a change. Change involves a new insurance company, new premium, and a new insurance professional. People do not like change and the best way not to change is to say, “I want to think about it,” or “Let me read the brochure first.”
These are great one-liners that prospects say because they can remain non-confrontational. They get what they think they want, no change.
Therefore, one of the keys of closing is learning how to help prospects see that change is good, change can help people get what they want, including less income taxes now, potentially more money later, lifetime income, and protection from possible market losses due to downturn or fluctuations.
IMPORTANT NOTE: No matter how convincing you are, and how great our closing approaches are, you should not attempt to close until you know that the product is in their best interests.
The 6 things to do before any close.
- Pinpoint the problem.
- Formulate the solution.
- Paying income taxes on Bank CD interest that is NEVER withdrawn is a problem. Tax-deferred accumulation is a solution.
- Longer life expectancies are a problem. Lifetime Income is a solution.
- Market losses is a problem. Protection from market losses due to market downturn or fluctuation is a solution.
- Show the real advantages to solving the need now.
- Show them where to find the money. This can be done by discussing and comparing the advantages and disadvantages of your retirement product to the retirement products they own. Disadvantages? Yes, every product and service has disadvantages, BUT you want to make sure that the advantages appreciably outweigh the disadvantages.
- Build rapport and trust with the prospect.
- Do NOT go after all of their money.
Please review the last six months of appointments where you did not close. Visualize those interviews in your mind. Did you make sure that the above “6 Things To Do” were addressed?
Suggestion: Give those prospects a call, meet with them again BUT this time:
1) Clearly pinpoint the problem.
2) Formulate the solution.
3) Show the importance of solving the problem now.
4) Show them where to find the money.
5) Build rapport & trust.
6) Help them diversify their money.
If you do these 6 things, you could begin to experience a higher level of success as well as creating a more secure lifestyle for your clients and families.