I hate to break bad news to you but if you sell on yield and returns you are nothing more than a bank clerk. Bank clerks don’t earn much and neither will you if you don’t get away from this nonsense.
I am bombarded constantly from sales organizations with the latest ad, greatest product that will make it easy to sell. If I concentrated on that I would be working at the bank.
Nothing wrong with working at the bank except I make more money every 2 weeks than most bank clerks make in a year.
Is you email box full of this stuff, the greatest returns and the best possible new product? Mine is.
I ignore it all and I strongly suggest you do also. All this stuff is garbage. I will let you in on a little secret; all these products are almost identical.
The difference is the name of the annuity!
I mean it, take a look and see. The latest and the greatest is just recycled product from last month. It may look different but they are all basically the same.
I look at company ratings, how long is the contract and what crediting options are there. Also I want to make certain that the service is not being outsourced! I don’t want my clients calling an outsource company ever!
A much easier way to sell annuities is to find out how a person feels. How do they feel about their money and their future? This can be accomplished by asking feeling questions. Here is an example:
Fact Approach: Where do your children attend college? (this is a fact question)
Feeling Approach: What college do you think would be best for your children? (same question but asked as a feeling)
By asking feeling questions much more is revealed and a much better relationship is built with the prospect.
Here is a senior question asked two ways. Let’s say you are conducting an interview with a senior adult and they say they have bank CDs. You want to know what interest rate they are earning so you can compare it with your products.
Fact Approach: What interest rate are they paying you? (very direct and it puts them in a position of being on the spot, what if they had made a mistake?)
Feeling Approach: What interest rate are you currently enjoying? (allows them to be in a positive position)
Feeling questions will bring more facts to the surface than any type of questions. It is all about how a question is asked. The more feeling questions mean the more information made available to you. The more information means the better relationship and this allows you the opportunity to move from a prospect to a client.
Bill Broich is a 30 year annuity salesman who helps agents increase their annuity sales. Visit his website to learn more. Annuity.com.
Tags: annuity, commissions, lead, leads, marketing, products, prospects, selling
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