Getting started in virtual sales can be overwhelming. New agents are learning sales scripts, sales processes, carrier information, lead management, and underwriting. In the midst of all of this they are also learning how to navigate personalities and objections. When starting out there is an undeniable learning curve that can seem a bit foggy. If there are financial pressures during this period of time it can feel like the learning curve is an endless cycle that can lead to a lot of missed opportunities. The great news is that these missed opportunities are great learning opportunities for you to level up. Here are some tips to help you navigate your launch, maximize opportunities, and write more business in virtual sales.
It requires a lot of leads
The entire insurance industry is built on the law of large numbers. The law of large numbers states that if the amount of exposure to losses increases, then the predicted loss will be closer to the actual loss. The use of the law of large numbers allows the number of losses to be predicted better. This means if you can predict the loss, then you can predict the gain. This is a law and is true across the industry. This is true about leads too. You can predict the loss and rewards of working leads. This means that even if you only close 50% of your leads you will be massively profitable. You will even be profitable if you only close 25-30% of your leads. Many agents do not understand this and do not purchase enough leads. This limits their sales, learning, and income opportunities. If you want to be successful you need to purchase a lot of leads.
It requires a lot of dials
Do not over complicate things. Sit down and dial. There will be a lot of things competing for your attention. Some of these will seem like good things like getting “setup’ for the day or “organizing” your CRM. If what you are doing is keeping you from dial time then you are losing money. If you are mowing your lawn during dial time, then you are the most expensive grass cutter in the world. Virtual sales require discipline. Calling is an income generating activity, and doing anything else prevents you from learning the process and becoming profitable.
It requires a lot of no’s
You will get hung up on. People will say no. Some people will be unbelievably rude. Be prepared. What does it mean to be prepared? Be prepared to learn. If you know that negative responses are coming then you can prepare to remove the emotion from the process. The process exists to help you grow and become successful. Every “no” has the opportunity to teach you something. When did it happen? What did they say no to in your sales process? Why did they say no? What adjustments can you make in your next conversation? The only way to improve is to get the no, remove the emotion, and make an adjustment. If you can get a lot of “no’s” then you will also get a lot of “yeses”.
It requires a lot of practice
Allen Iverson made the word practice famous. He scoffed at a reporter who challenged his thinking about practicing with the team. “Practice, we talkin about practice?” he questioned. Yes, Allen we are talking about practice. It is easy to lean on your personality. It is easy to believe that you are the most gifted salesperson in the world. It is easy to believe that practice doesn’t really matter. The truth is that every superstar worth their salt knows that practice is what gives you the edge. In sports it allows you to forecast gametime decisions and counter your opponent. Championships happen in the film room and on the practice field. The same is true in sales. I have seen too many agents begin their calls without having a working knowledge about their scripts. I will put it as plainly as possibly, it is nearly impossible to win without practicing.
Winning in virtual sales is not complicated, unless you make it complicated. Be committed, invest in your business and yourself, do the work. If you do these things then you will find a lot of success. Once it begins to seem complicated, then review and go back to the basics and start again.
If you have any questions about your sales, leads, or your business we would love to hear from you. To us, there is simply no such thing as a dumb question. We may have the answer for you but if we do not we will find it with you. You can connect with us at lifeinsuranceacademy.org or any of our social channels or you can reach us at [email protected].