This document provides guidance on building a strong sales pitch for selling insurance. It discusses making assumptions about prospects and salespeople, focusing the pitch on those who are a good fit, and using a multi-stage sales process with goals for each stage. It also covers identifying the value offered, common problems solved, composing qualifying questions, building interest, and addressing objections. The overall message is to center the pitch around prospects' needs by highlighting value, pain points, and credibility in order to qualify leads and progress them through the sales process.
1. Build a Strong Sales Pitch When Selling Insurance
Michael Halper
Founder and CEO
SalesScripter
2. Assumptions We Can Make About Prospects
• Prospects don’t enjoy being sold to
• Prospects aren’t in buying mode
• Prospects often already have insurance
• Prospects don’t think they need insurance
• Prospects get sold to a lot
8. Focus on the May Fit
Make pre-qualifying questions center of your pitch
• Don’t try to sell to everybody
• Will make interactions more conversational
• Plant seeds instead of picking fruit
9. Early Sales Process Stages
Stage GoalsInitial Contact
(First time to speak)
Cold Call
Inbound Call
Email
Event
2 to 5 minutes
80% on prospect
20% on you
First Conversation
(Appointment/Meeting)
Phone Call
Face-to-Face
Discovery
20 to 30 minutes
50% on prospect
50% on you
First Meeting
(Presentation)
Discovery
Presentation
Demonstration
1 to 2 hours
20% on prospect
80% on you
Pre-qualify
Gather high-level information
Build interest in having conversation
Schedule a First Conversation
Hard Qualify
Gather detailed Information
Build interest in meeting
Schedule a First Meeting
Sell Product
Map out Next Steps
Close (Sale or agreement to move
forward)
10. Early Sales Process Stages
Alternative Path – Instant CallInitial Contact
(First time to speak)
Cold Call
Inbound Call
Email
Event
2 to 5 minutes
80% on prospect
20% on you
First Conversation
(Appointment/Meeting)
Phone Call
Face-to-Face
Discovery
20 to 30 minutes
50% on prospect
50% on you
First Meeting
(Presentation)
Discovery
Presentation
Demonstration
1 to 2 hours
20% on prospect
80% on you
Pre-qualify
Gather high-level information
Build interest in having conversation
Schedule a First Conversation
Hard Qualify
Gather detailed Information
Build interest in meeting
Schedule a First Meeting
Sell Product
Map out Next Steps
Close (Sale or agreement to move
forward)
11. Early Sales Process Stages
Alternate Path – Instant MeetingInitial Contact
(First time to speak)
Cold Call
Inbound Call
Email
Event
2 to 5 minutes
80% on prospect
20% on you
First Conversation
(Appointment/Meeting)
Phone Call
Face-to-Face
Discovery
20 to 30 minutes
50% on prospect
50% on you
First Meeting
(Presentation)
Discovery
Presentation
Demonstration
1 to 2 hours
20% on prospect
80% on you
Pre-qualify
Gather high-level information
Build interest in having conversation
Schedule a First Conversation
Hard Qualify
Gather detailed Information
Build interest in meeting
Schedule a First Meeting
Sell Product
Map out Next Steps
Close (Sale or agreement to move
forward)
12. Disqualifying
Soft Disqualify (Takeaway)
• I am not sure if you are a good fit for what we
do.
• I am not sure if we can help you in the same
ways that we help our other clients.
• I don’t know if you are the right person to
speak with or not.
15. What is Value
• Transfer of an intangible attribute from one party to another that has a
positive net worth
• It is not your product, it is what your product helps your clients to do or to
achieve
• Examples:
– Making something work better
– Helping to save time
– Helping to make money
– Providing valuable information
– Making someone’s day easier
– Helping someone to sleep at night
16. Messaging Workflow
Product
1. Health and Welfare Consulting
Value Offered
1. Help CFO’s to implement cost containment
programs.
2. Help manufacturing companies to make
better business decisions regarding the
health and welfare of their employees.
3. Help small businesses to decrease workers
comp costs, healthcare costs, and risk.
Product Value
22. What is Pain
• Something not working well
– Causing a negative impact
• Something could be working better
– Results are not as good as could be
• Are things great, good, ok, or could be
better ?
– Great or good: probably no pain
– OK or could be better: likely pain
23. Messaging Workflow
Pain Resolved
1. It can be difficult to design and implement
successful cost containment programs.
2. It is complicated trying to figure out what the
best alternatives and options are.
3. It is difficult to control and decrease costs for
workers comp, healthcare, and risk.
Value Offered
1. Help CFO’s to implement cost containment
programs.
2. Help manufacturing companies to make
better business decisions regarding the
health and welfare of their employees.
3. Help small businesses to decrease workers
comp costs, healthcare costs, and risk.
Product Value Pain
29. 2 Step Qualifying Process
Step 1 – Pre-Qualifying
• To make sure it makes sense to meet and keep
talking
• Takes place in first contact
Step 2 – Qualifying
• Identify if you can consider the prospect and lead
are real
• Takes place in first meeting
30. Messaging Workflow
Questions to Ask
1. How much of a priority is it for you to
implement new cost containment
programs?
2. How confident are you that you have a
complete understanding of what your
options are in the areas of health and
welfare?
3. How important is it for you to find new
ways to control or decrease benefits and
healthcare costs?
Pain Resolved
1. It can be difficult to design and implement
successful cost containment programs.
2. It is complicated trying to figure out what the
best alternatives and options are.
3. It is difficult to control and decrease costs for
workers comp, healthcare, and risk.
Product Value Pain Qualify
35. Messaging Workflow
Product Value Pain Qualify Interest
• Communicate ROI
• Explain differentiation
• Share client story
• Paint a picture of the future state
• Discuss impacts of doing nothing
• Share company facts
37. Messaging Workflow
Product Value Pain Qualify Interest Credibility
We worked with Direct Industrial and provided them with health and welfare
consulting. This helped them to improve their decisions regarding the benefits
and that lead to a decrease in medical coverage costs by 10%.
Ultimate
Benefit
Realized
Initial
Benefit
Realized
Product /
Service
Provided
Past Client
42. What are Objections
• I am busy right now.
• Who are you with?
• What is this in regards to?
• I am not interested.
• Just send me some information.
• We already use somebody.
• We are not looking to make a change right now.
• We do not have budget/money to spend.
43. Messaging Workflow
Product Value Pain Qualify Objections
Objection Responses
1. Help manufacturing companies to
make better business decisions
regarding the health and welfare of
their employees.
2. It can be difficult to design and
implement successful cost
containment programs.
3. How important is it for you to find
new ways to control or decrease
benefits and healthcare costs?
Value Offered
Pain Resolved
Questions to Ask
Building Interest Points
Name Drop Statement
Interest Credibility
45. If You Want More Help
Sales Coaching and Sales Consulting
• 2 or 5 hour blocks of one-on-one coaching
• Weekly 30 minutes one-on-one coaching sessions
• Weekly 1 hour one-on-one coaching sessions
• Weekly Unlimited one-on-one coaching session
• Weekly 1 hour group coaching sessions
Contact us if interested – info@salesscripter.com
46. If You Want More Help
• https://www.youtube.com/user/LaunchPadSol
• Or search Sales Scripter
• Over 130 videos
• Sales Prospecting 101 Training Program
• Webinars
• Sales Tips
• SalesScripter demo videos
• Subscribe
Go to Our YouTube Channel
47. If You Want More Help
• Five ebooks
– Found at https://salesscripter.com/ebooks/
– Do’s and Don’ts of Cold Calling
– How to Get around Cold Call Objections
– How to Build a Value Proposition that Generates
Leads
– How to Build Sales Campaigns that Sell
– How to Build Email Drip Campaigns that Convert
Sales
• The Cold Calling Equation – PROBLEM
SOLVED
– Found at http://www.amazon.com/The-Cold-
Calling-Equation-Problem/dp/1468173545
Check Out Our Books
48. If You Want More Help
• Week 1
– Understanding the Ideal Sales Process
– How to Make Cold Calls
– Appointment Setting Tactics
– Voicemail Messaging Methodology
• Week 2
– Sales Messaging Workshop
– How to Get Prospect’s on the Phone
– How to Get Around Objections
– How to Incorporate Buyer Personas into Your
Selling
– Overview of a 2-Step Qualifying Process
New Hire Onboarding Training Program / Sales Prospecting 101
• Week 3
– How to Build Your Value Proposition
– How to Focus on Prospect Pain
– How to Get Around Gatekeepers
– How to Perform the Perfect Takeaway
• Week 4
– How to Build Rapport, Interest, and
Credibility
– How to Improve Mental Strength When
Selling
– How to Be a Better Closer
* Available through e-learning videos, live virtual, or live in-person
* Can be tailored to your business
49. If You Want More Help
• Build your scripts and campaigns
– Call scripts
– Email templates
– Voicemail Scripts
– Objection responses
– Key Questions
– And more
• $49 per month / $29 per month with annual subscription
– 30 Day Money Back Guarantee
Sign up for SalesScripter
50. If You Want More Help
• Build your scripts and campaigns
– Call scripts
– Email templates
– Voicemail Scripts
– Objection responses
– Key Questions
– And more
• $49 per month / $29 per month with annual subscription
– 30 Day Money Back Guarantee
Sign up for SalesScripter
Before we go any further, let’s clearly discuss what value is specifically in the context that we are using it as it can mean different things to different people.
When we talk about value, we are referring to the transfer of something from one party to another that has a positive net worth. Now, the important thing to get your hands around with this is that value is an intangible attribute. It is not something you can see or pick up, yet it is definitely there, has a positive net worth. And actually the transfer between parties can be visible when you are aware of the value that exists and you know what to look for, and that is what we will teach you hear today.
Let me provide a little more color around that by sharing a few examples.
First, it is important to note that value is something that is transferred everyday at a personal level between family and friends. For example, when you bring humor to a group or conversation and make someone laugh, you are providing value as you are improving the conversation from what it would be without that. Or by teaching someone something, being a good listener, providing security, or making someone’s life easier are all examples of providing value at a personal level. You are essentially giving something or contributing something to another person.
Once we understand how we offer value at a personal level, we can better understand how we deliver value at a business level. Just as we can improve the lives and interactions with friends, we can do this for our clients as well by helping them to save money, helping them to make more money, by providing valuable information, or again making someone’s day easier. These are all examples of the value that we can transfer from us to our prospects and clients.
One important thing to start to get your hands around is that value is not the same thing as the product that you provide. It is what your product helps your clients to do or helps them to achieve.
Let’s discuss just what pain is in the context that we use it in. Pain is something that is not working well or could be working better for a prospect and this is causing a negative impact.
We will get into much more detail and go into examples and we just want to introduce the concept at this point.
But at the highest level, one question that can be asked to determine if there is pain is “are things great, good, OK, or could be better?”
If things are either great or good, there might not be any pain, or at least not very much.
And if things are OK or could be better, there likely is some sort of pain that the prospect is experiencing.
Hopefully by now you can see how important it is to screen and qualify prospects. Now let’s get into how to effectively do that.
We provide you with a 2 step qualifying process. Step 1 is called soft qualifying and it is focused on primarily determining whether it makes sense to meet and keep talking. The main thing that we look at here is, at the most basic level, are there any level of open needs in the area where we have something to offer. We are trying to eliminate those No Need to Purchase prospects as if there is not even a need, let’s not waste each other time.
This soft qualifying takes place in the first conversations with the prospect. For example, this level of qualifying takes place on the cold call, or could also be on an inbound call from a prospect, and we softly qualify to identify if it makes sense to continue talking or put a meeting on the calendar.
Step 2 is hard qualifying and this is where you dig deeper to identify how the prospect measures up in of the four key areas. The ideal time and place for this is when you are in the first meeting with the prospect.
Before we go any further, let’s clearly discuss what objections are.
Objections are a prospect’s best weapon when they answer your cold call. They are statements or questions that the prospect will throw at you and they are like mini stops signs that the prospect will hold up. They use to try to take a control of the call and take it in a direction of their choosing. And if they begin to feel like you are selling something when they are not looking to buy, they will want try to end the call and will use objections to get there as soon as possible.
Now let’s take a look at common objections and ones that you are just about guaranteed to run up against.
I am busy right now. Who are you with?
What is this in regards to?
I am not interested.
Just send me some information.
We already use somebody.
We are not looking to make a change right now.
We do not have any budge to spend.
Those are eight objections that consistently come up. You could maybe tweak those for your situation, and add a couple that are specific to your products, you would have a complete list of objections to be prepared for. As part of this training, we will explain these one at a time and show you how to get around them.