What is Selling
Selling is to identify and/or uncover a need and then satisfy the need with our product / services for mutual benefit

Based on Studies: 
There are very few professional buyers of life insurance.

Action Plan 

Work with a selling strategy that will cause the prospect to participate in the buying process.

savings. whether protection. retirement or disability. .Mastery of The Sales Process Assures you of an effective selling strategy which helps you close the sale on any product.

The Buying Process What is Consumer Buying Behavior? What do you perceive? .

.Definition of Buying Behavior Buying Behavior is the decision processes and acts of people involved in buying and using products. Need to understand: why consumers make the purchases that they make? what factors influence consumer purchases? what are the changing factors in our society.

Examples include soft drinks. Examples include Clothes--know product class but not the brand. 2. Requires a moderate amount of time for information gathering. . Routine Response/Programmed Behavior--buying low involvement frequently purchased low cost items. milk etc. Limited Decision Making--buying product occasionally. snack foods.There are four types of consumer buying behavior 1. perhaps. need very little search and decision effort. When you need to obtain information about unfamiliar brand in a familiar product category. purchased almost automatically.

Extensive Decision Making/Complex high involvement. no conscious planning. Go through all four stages of the buying process. friends and relatives. 4. unfamiliar. Spend alot of time seeking information and deciding. Impulse buying. Examples include cars. computers. education. store personnel etc. homes. High degree of economic/performance/psychological risk. Information from the companies MM. . expensive and/or infrequently bought products.3.

3. A consumer. 2.Categories that Affect the Consumer Buying Decision Process ‡ 1. making a purchase decision will be affected by the following three factors: Personal Psychological Social .

Sex.Personal Unique to a particular person. Race. Demographic Factors. Who in the family is responsible for the decision making. Age etc. Young people purchase things for different reasons than older people .

Psychological factors Motive . .A motive is an internal energizing force that orients a person's activities toward satisfying a need or achieving a goal. Actions are effected by a set of motives. If marketers can identify motives then they can better develop a marketing mix (MASLOW hierarchy of needs) Physiological Safety Love and Belonging Esteem Self Actualization Need to determine what level of the hierarchy the consumers are at to determine what motivates their purchases. not just one.

Social Factors
Consumer wants, learning, motives etc. are influenced by opinion leaders, person's family, reference groups, social class and culture.

The Buying Process
What a funny subject! We are here to learn selling, not buying. Professional selling means satisfying buyer¶s needs. We can sell to the buyer only if we know how he buys.

Let us see how people buy
In any type of selling, we have a buyer who buys to satisfy a need. It could be hunger,thirst, entertainment or relief from pain. Recall a person buying a newspaper or magazine while waiting for a bus or a train. Why does he buy the newspaper? Perhaps he wanted to know the latest news.

Process Stages ‡ ‡ ‡ ‡ ‡ ‡ Recognition of Needs Information search Evaluation of options Elimination of doubts Decision to buy Post purchase behavior . purchase intentions are formed.The Buyer Decision Process At the end of the evaluation stage.

Once he decides to act. We shall now look at the next stage. If you know the buyers needs and motivation to buy. A salesperson ought to keep the buyer as his or her focal point. the buyer begins exploring possible options that will satisfy his need. . At this stage of the decision making process the buyer moves away from minor irritation to real dissatisfaction.Recognizing Need Your need here was news. you will be far more effective in your selling.

Maslow¶s Hierarchy of Needs . perception.Influencing Buyer Behavior ‡Search for Alternatives Gather information on products and alternative solutions to the problem(s) Information sources/ processing steps Use memory (depends on previous exposure. retention) Opinion leaders and adoption and diffusion processes Perceived risk Maslow¶s Theory.

Solar etc.Rolex etc.There are different brands like Timex. . .She has already recognized the need for vegetables.She will look at the prices.Evaluating options This stage begins with a confusing array of choices and options.Finally there are many models to choose from. quality and the individual selling the same. . . the choices are unlimited..There are also different types of watches like Quartz. Titan. Similarly while buying a watch. Citizen. . Imagine your wife or mother buying vegetables. . Maxima. .Now in the market there are all sorts of vegetables available.

trial . store visits.Approaches to Search for Problem Solutions Internal Memory Thinking External Word of mouth. media.

Cost v/s Benefits of Search ‡ ‡ ‡ ‡ Market Characteristics Product Characteristics Consumer Characteristics Situation Characteristics .

Doubts like whether they are paying the right price. The part where the buyer has to pay.Eliminate Doubts Now we come to the interesting part. All kinds of doubts crop up in their minds. It is only when all these doubts are eliminated that the buyer is ready for the final decision. whether the features are what they wanted or whether the quality is what is being promised crop up. .

and attitudes is called cognitive dissonance . This is the final stage of the buying process.It costs more to attract a new customer than it does to retain an existing customer. he goes ahead with the decision to buy.Delighted consumers engage in positive word-of-mouth. . This is the last stage of buying. Since the buyer has satisfied himself about the doubts .Decide Finally the buyer goes ahead and decides to purchase the product or service. Cognitive dissonance is common Post-purchase anxiety that results from an imbalance among an individual¶s knowledge. . Remember: Satisfaction is important: . beliefs.Unhappy customers tell on average 11 other people.

Summary To summarize. we have a four stage buying process Recognize Need Evaluate Options Eliminate Doubts Decide to buy This is called the µREED¶ process .

The Selling Process .

Background We have seen that buyers go through a common buying process. Do sellers also go through a similar process? .

This is called opening the sale.Opening a sale When you visit a client for the first time you usually greet him. .. sports etc to establish some sort of rapport. the décor. You may also make some small talk about the weather. introduce yourself .your product or service . your co.

budget or buying criteria is called Developing. If you go ahead with the selling process without finding all out this information. Sometimes the buyer would not have recognized a clear-cut need. He would probably also want to know the kind of budget his customer has for systems. you are likely to get into trouble . needs. Finding out specific details about the customer¶s problems. A computer salesperson would like to find out the type of problems his customer is facing with his present solution being used.Developing the sale You may now try to find out certain details about the buyer. This is where you come in. .

a husband may not recognise that his wife needs a washing machine. So when he goes into a Consumer Durable showroom to buy a mixie. You may also need to know your client¶s buying criteria.While developing you can get the buyer to realise his needs. For instance. This stage of the selling process goes hand in hand with the µRecognize Need¶ stage of the buying process. . the salesman may talk about a washing machine . thus creating a need in the mind of the buyer. Your solution therefore should fit into the buyers criteria. In addition you may also need to know your customers budget.

At this stage you should try to project those features of your service which satisfy his need and will result in sale. the buyer would purchase your service. Once you succeed at this. This stage ties in neatly with the µEvaluate Options¶ stage of the buying process. your efforts should be directed at proposing a solution which is closest to the buyer¶s needs. you propose a solution.budget and buying criteria.Presenting the solution Now that you have µDeveloped the sale¶ and are clear about the customer¶s needs. if you have more than one product. Your solution is one of the options that the buyer evaluates. . As a logical extension. This is done by proposing your solution . its features and the benefits it gives your customers.

Unless the buyer is satisfied on this count. warranties etc. This stage is also called the objection handling stage.Eliminating Doubts Once the buyer chooses your product from the options available to him. This ties in with the µEliminate Doubts¶ stage of the Buying process. price. the features. . You have to handle all these questions and ensure that the buyer is satisfied with your answers. quality. Your job would be to ensure that all these doubts are eliminated. he would usually have some doubts about his choice.he will not make a purchase decision. The doubts may be about the product.

You will have to increase the dissatisfaction he has with his current product or service till he reaches a point where he has to discard the old product and buy yours. You will have to use all your tact and skills to lead him into this stage.Closing By now the buyer is convinced that your product will satisfy his needs. All these activities involved in bringing a sale to a favorable end are collectively referred to as Closing. . You would then be the hockey or football team which is brilliant in dribbling but poor at scoring. the sale may be lost. Closing is to selling process what µDecide to buy¶ is to the buying process. If you falter at this stage and do not help or prompt the buyer to come to a favorable decision.

the selling process consists of the following stepsOpening Developing the sale Presenting solutions Eliminate doubts Closing .Summary To summarize.

Matching buying & selling Buying process Recognize Need Evaluate Options Eliminate Doubts Decide to buy Selling process Opening Developing the sale Presenting solutions Eliminate doubts Closing .

Steps in a Sales process After Sales service Closing The Sale Handling Objections 8 7 6 5 Prospecting 1 2 3 Pre Approach Sales Presentation Approach 4 Fact Finding & Need Analysis .

´ ³Prospecting is nothing but the foundation and the structure on which your business is based´ .Step 1 :Prospecting ³Prospecting is the cornerstone of your sales business.

The more prospects you see. On an average a week should look like PROSPECTS 60 : Approach 18 : Appointments Seen 9 : Closing Interviews 3 Sale . the more sales you have.

No Prospecting =

No Income

Either you prospect or you die ! If you get the foundation right it will help you in reaching your dream«. The success or failure you have in business will be in direct proportion to your ability to prospect. Prospecting requires physical action. ³Prospecting is the conscious, directed and continuing activity of seeking, observing, identifying and qualifying people.´

Steps Of Prospecting
There are 5 steps to prospecting ‡List ‡Qualify ‡Record ‡Prioritize ‡Maintain

List - In Prospecting everyone is your suspect.
The 1st stage of prospecting involves making a list of your suspects under the various natural market categories and from secondary market leads. .

 The man with growing children. in case he loses his earning power through death or disability. . ‡ The professional man. he has no income if sick or disabled and unable to practice. he would have earned. ‡ The man with a new baby. if he is taken away from them.  Problem: A guarantee that his family will be able to continue to live in the home. or cash to start in business. The man with a mortgaged home. Problem: Maintaining the regular income. Problem: He must provide his own retirement. Problem: How to start a fool-proof plan that will guarantee his child a college education.

‡ The business owner. . he wants a guarantee that his heirs will receive value for his interest. Problem: In case something happens to him. The newly married couple. Problem: A method of saving for the future which does not require unnecessary financial hardship. or to supplement her future husband¶s income. for setting up a home. ‡ The working woman. or part owner. Problem: A plan that will give her money for emergencies.

Is our suspect insurable? Income .Does our potential prospect need our products? Approachability .Qualifying is the process of turning a Suspect into a Prospect C H I N A Character .Is our suspect approachable? .Can our potential prospect afford our products? Need .Is our suspect having bad habits ? Health .Qualify .

Record Recording useful information in the prospect register .

How to Prioritize Most potential .Hot Warm Prospect Cold Prospect .Prioritize.

Maintain-How do I maintain my prospecting cycle By Practicing Good Prospecting Habits .

Prospecting Habit #1 Get Names of People Personal Observation Personal Acquaintances Policy owners Centers of Influence Referred Leads Newspapers Cold Canvas .

Prospecting Habit #2 Qualifying These People Get as much information as you can to make sure they are real prospects for you. ³Familiarity breeds confidence!´ .

Prospecting Habit #3 Record This Information Be Organized. . The book of names (PROSPECTS REGISTER) is an effective system to file the information of your prospects.

whether the case is closed or not.Prospecting Habit #4 Get Introductions To People Try to meet people under the most favorable circumstances. For every prospect or client served. Ask for Referals .

repeat calls simply develop into friendly chats that lead nowhere. .Prospecting Habit #5 Eliminate China Eggs Do not waste time on people whom you keep calling on over and over again but who never buy anything. A prospect whom. in many cases.

Step 2: Pre Approach.Securing An Appointment ‡ Refers to the pre-approach calls you make ‡ Making contact to establish a definite time and location for your initial interview ‡ Made either by telephone or in person .

Why Is An Appointment Important ? ‡ It saves time ‡ It adds prestige ‡ It increases the chances of making a sale .

The only purpose of your call is Not to sell an Insurance Policy .Keep in mind ! ‡ You should seldom press for an immediate interview ‡ The interview should be started at the convenience of the prospect ‡ In some cases. if you are calling on a close friend or acquaintance. you may conduct the interview at the time of the call.

.In Your Pre-Approach ‡ The words you use must be practiced and rehearsed until saying them becomes an natural as breathing. ‡ Knowing exactly what you are going to say will give you confidence and allow to express yourself effectively.

Good Telephone Techniques ‡ Have a definite time for phone calls ‡ Address prospect by name ‡ Speak into the mouthpiece ‡ Be a good listener ‡ Find a conductive place for making phone calls. .

Step 3: Approach-The Most Important First 30 Seconds«. ‡ Be Brief ‡ Be Urgent ‡ Be energetic ‡ Be Prepared ‡ Be Optimistic ‡ Talk Little Faster ‡ Talk Little Louder ‡ Talk Little Clearer Know your Stuff. Know who you Stuff« .

While speaking on phone Place a mirror right in front of your telephone You shall ensure your enthusiasm and Your Smile reaches your prospect .

Power Statements Appointment .Closing Question .First 16 Words They are most vital Introduction Purpose .

Introduce Yourself  This is Amit from Reliance Capital Services  Mr. is it a good time to speak to you?  Good morning Mr. Pravin. this is Amit from Reliance Capital Services  My friend Rajesh has referred your name to me. is it a good time to speak to you? . Prvin.

Use Power Statements 
I need to see you  I suggest plans, which could meet most of your financial goals  I assist people to create long-term assets  People find immense value in short meetings with me

Close Appointment 
With your busy schedule can we have some time for our meeting?  Mr. Prashant, would it be convenient for you tomorrow at 4.00 pm, or at 7.00 in the evening?  Could I have the address of your office/home?

Ignore The First Objection 
The first objection is smoke screen / stalling  Back-off and ask a counter question  Mr. Sharma, let me ask you a question ± When was the last time you reviewed your existing saving plans?  I can do that for you, with no commitment from your side ± can we now meet tomorrow at 5 pm?

and say ± Mr. Sharma.Close at 2nd Objection ‡ Acknowledge the second objection. you would be the sole judge and have no regrets for meeting me! ‡ Be Persistent and Polite and at least take 3 NOs¶ before you wish to quit . I promise not to sell you anything.

I shall meet you at your residence on 29th Feb.00 in the evening  Mr.Confirm  Say thank you for the appointment and confirm date. Prashant. time and venue  Mr. Thursday at 7. thank you very much for the appointment and have a nice day´ . Prashant.

Telephone Etiquettes ‡ Always allow your prospect to end the call ‡ Please do not keep the Prospect on HOLD ‡ Let the prospect not hear the MUSIC in your house .

so you are successful with few appointments ‡ Make Notes ± improve on objection handling .Tele-calling tips ‡ Keep your script«« Right on your desk ‡ Profiling Helps ‡ Keep at least 5 names to call.

Step 4:Fact Finding .

They want their saving to grow by earning returns (interest or dividends) on them 4.Basics of Personal Planning An approach to fact finding Q. Why do people save? 1. . To meet future needs 2. They may not consume their present earnings totally 3. They would like to save income tax by a choice of saving.

Q. What is the objective of financial planning? To ensure that you save adequatelymeet you financial goals As financial consultant we have to bring a change in people¶s thinking from Income ± Expenses = Saving TO Income ± Saving = Expenses .

Liquidity 3. What factor people consider in choosing a financial instrument 1.Q. ReturnsExpenses in managing assets . Safety 2.

‡ The weighing of above factors in making a decision would depend on Life Cycle Stage of the investor ‡ Investors who ³ inherit wealth´ look for long. Their liquidity needs are low. their general preference is therefore in post office MIS . ‡ Retired people who need regular income would prefer high safety.term investment They are able to take risks and invest for long term. ‡ Investors who ³ accumulate wealth suddenly´ would like to Conserve it and would prefer low-risk investments.

unable to meet financial goals .ability to save less( though willingness could be here) .Meet you financial goals .Save less .The Principle of financial planning Start early Start late .

Example. earning returns @ 6% 20 Investment period = 25 years Maturity at age 60 = Rs. 1: Rs 2615 pm invested from age 20 till age 45. 50 Lacs 45 60 .

Example. 50 lacs If you start early you need to save less to reach your financial goals. earning returns @6% 35 60 Investment period =25 years Maturity at age 60 = Rs. But a person¶s ability to save reduces with increasing age as liabilities towards family. . Therefore despite of willingness there are limitations to saving.215 pm invested from age 35 till age 60. you have to save more. If you start late.2: Rs 7.

Fact Finding««.? For What? Collection of Data Recommending Needs Why? By Whom? Financial Consultant How? Asking Question ..

Questioning Skills Why ask question ? ‡ To get general information ‡ To understand customer¶s requirements ‡ To understand customers mind ‡ To make the other person think ‡ To take time for doing our thinking ‡ To open a dialogue which leads to a good rapport building .

What to do when you are asking questions? ‡ Ask one question at a time ‡ Probe further when you receive short answers ‡ Do not interrogate the prospect .

The Art & Science of Asking Questions Types of Question : Open Question gives information Close Question gives confirmations or decisions .

Open Question Open neutral Question is likely to give long uninfluenced answers Open Leading Question is likely to give long influenced answers Where Key Words : What When Which How SHORTER THE QUESTION MORE OPEN IT IS .

Closed Question Likely to give short influenced answer««Often just µYES¶ or µNO¶ Key words Are Can Do Am Have Is .

Significance Of Communication Verbal .65% .35% Non-verbal .

even by converting vague concern into concrete needs. Improve ‡Security ‡Quality of Life ‡Self worth at old age or in case of disability Maintain ‡Lifestyle at old age ‡Lifestyle after the breadwinner passes away ‡Standard of living after serious illness Reduce ‡Worries about the future ‡Dependencies on others at old age ‡Trouble with different investments .It is our job to uncover the needs of the prospect.Identifying needs Finding out your prospect¶s needs is the key to successful selling.

Eventualities of Life Positive Sides of Life Negative Sides of Life .

Your Priorities in Life 1 Wealth Creation 2 Financial Planning in case of Accident & Disability not likely Financial Planning for Child¶s Future 3 4 Financial Planning for Critical Illness ± if it occurs 5 Financial Planning for joyous Retirement 6 Financial planning for Premature Death. it wont happen .no.

Then Provide Prospect with the solution based on his priorities To do this we need to have his Personal financial Details«« .

Promise: I Promise you. X.Fact Finding ± Lead with Need Mr. I would need details of your personal finances. the information you share with me not go beyond this room unless you wish to share with someone. . for me to understand your financial need.

name of his children to personalize the document. ‡Prospect Name ‡DOB ‡Profession ‡Children( name.Essentials Please pen down the name of the prospect.age) ‡Parents ‡Wife ‡Occupation .

X you are currently paying premium of Rs. ________ and your protection is Rs. _____________ till maximum age_____.Analysis of Existing Life Insurance Policies Sr . . Policy Type Start Year Term Maturity Age Protection Premium Total Mr.

Analysis of Existing Saving Plans Sr . Saving Instrument Value Term Retur ns Safety Protection ‡ Explore if any of these saving instruments can be liquidated partially/totally to fund insurance premium to increase the protection level ‡ To know the risk-return profile and saving habits of the prospect .

Monthly Essentials Expenses ii. Other monthly outflows Net Monthly Savings Estimated Annual Savings Less Premiums on Insurance Policies Other Annual Outflows Estimated Annual Saving Potential . Net Salary of Spouse c. Personal Loan EMI iv. Other Income Less: i.Monthly Essentials Expenses: Groceries Vegetables / Poultry Milk Gas Housemaid Maintenance Charges Electricity Telephone Bills Cable Newspaper School Fees Tuition Fees Children Conveyance Parents Medicals Conveyance Cigarettes / liquor Personal Miscellaneous Entertainment Total of monthly ESSENTIAL Household Expenses Annual Saving Potential Total Monthly Household Earnings a. Housing Loan EMI iii. Net Salary b.

second house) Life Insurance.Protection Provident Fund Other Employment Benefits Total of Other Saving Plans Other Liquid Assets Protection GAP Total = Essential monthly expenses x 12 months / interest rate p.06) Rs. Liquid Assets (Assets which can be liquidated to meet Cash Needs) Rs. Other aspects like support from joint family / inherited property of parents. A realistic approach would give manageable figures to work upon. X. God forbid Mr. if you are absent. employment possibilities for spouse etc.a. should also be considered. Total Prospect should give most of the figures.Cash Needs (Financial Goals / Obligations / Essentials in unforeseen circumstances) ‡Housing Loan Outstanding ‡Personal Loans (incl. your family would need to keep at least this sum of money to earn interest income sufficient to meet their monthly essential expenses as discussed above. . credit card o/s) ‡Children Education ‡Post Graduation Cost ‡Children Marriage Expenses ‡Medical Contingencies ‡Capitalization of essential expenses (annual / 0. Gold Property (land.

restructuring of existing assets could fund the premium.Need Analysis Protection Requirement = Maturity (Retirement /other) Benefits required = (shortfall from other saving instruments towards retirement) Annual Saving Potential = Shortfall in Savings to avail SEC 88 Tax Benefits = In case annual saving potential is less. .

e. As the needs analysis is the focal point of the sales interview it is worthwhile considering the benefits that can be derived from a properly constructed needs analysis. Selling is not just talking but making the prospect talk and then our doing the talk .Solutions and Recommendations The needs analysis should be used to guide prospects through the most important part of the sales process. i.. identifying their financial shortfalls.Step 5: Sales Presentation . establishing their needs and determining realistic objectives to satisfy those needs.

What is an Objection? Objection is an Unanswered Question .Step 6 :Handling Objections.

Why Do We Get Objections? Ô Lack of Trust in product / service Ô Lack of Quality Information Ô Lack of Clarity Ô High perceived value of product/service Ô Prospect wants to postpone the decision till he consults a decision maker .

Why Do We Get Objections? Ô Lack of Confidence Ô Low self esteem Ô Lack of Presence of Mind Ô Lack of etc Ô Giving incomplete information to the customer Ô Underestimating self / customer .product.

How We Tend To Feel? Demoralized Argumentative Angry Indifferent Defensive .

Two factors will determine your success in overcoming objections: Your Attitude ‡Objections are not obstacles to closing the sale ‡Welcome the objection as a useful information to determine your prospect¶s thought process Your Technique ‡Learn and master the technique for handling objections and you¶ll be able to remain poised and react calmly .

Types Of Objection : Insincere Objections These are not motivated by logic or truthfulness but only a sales resistance : Unspoken Objections These are moments when the prospect does not respond or speaks out his thoughts : Genuine Objections These are serious ones and has a ring of sincerity. providing a clue to the prospect¶s thought process. .

Things To Remember About Objections: Ô Ô Ô The first objection is not the real objection but only a sales resistance. It¶s expressed in alibis. . excuses or stalls. Genuine objection will have the ring of sincerity Make the genuine objection the final objection.

Answer Genuine Objections Answer the Objection to your prospect¶s satisfaction. To Answer It master the Technique Here It Is . Defer Ask permission to answer the objection later to rob some of its potential strength.Three Ways Of Handling Objections: Ignore Insincere Objections Maintain your poise and build the prospect¶s confidence by displaying empathy and patience. Too Early Objection to keep the sales talk on the track.

.The 7 Step Technique For Handling Objection 1 PAUSE (Hear the Prospect out) Let your facial expression register. nod your head in agreement with the prospect. ÔListen actively to the Objection ÔStart Thinking ÔEmpathizes Lean forward. ³ I¶m taking your objection seriously´.

3 Restate to clarify ³I want to make sure that I understand how you feel and what you are saying is««««««««««««««««« ««.´ Yes Go to Step 4 No Go back to Step 2 .2 Probe Gently (Ask the Prospect why he thinks so?) ÔCustomer expands on his Objections ÔGives us even more time to think ÔCustomer may provide leads for the solution..

is there any other reason that¶s keeping you from acting on this plan now?´ Yes Go back to Step 2 5 No Go to Step 5 Lock the prospect (set up the ground rules) ³If I can take care of this to your satisfaction ± can we proceed further with the plan?´ Yes Go to Step 6 No Go back to Step 2 .4 Isolate objection ³Apart from this concern.

Stimulate action (Confirm the Answer) Make sure that you have answered the objection to the Prospect¶s satisfaction. ³Does that fully answer your question?´ ³Does that ease all your concern?´ 7 Yes CLOSE No Go back to Step 2 .6 Answer the objection Respond indirectly by using a motivating story or respond with a tactful reply.

You Will Be Delighted With The Results! Remember Selling isn¶t Telling . Use It Until It Becomes A Habit.Put It To Work In Your Daily Selling Routine.

Step 7:Closing.How did you reach here? After making 60 approaches? Would you like to close or lose 60 approaches? Would you like to earn your weekly commissions NOW? Would you like to make the day for you? .

only for your competitors to Sell? Would you like your Prospect to utilize the Budget for something else? The Prospect might get to hear a wrong advice Someone else in your company could close him You also lose 3 policies from those 9 very valuable and highly recommended referrals! And you lost that recognition which you always deserved just short of 1 policy .Why Close NOW? ‡ ‡ ‡ ‡ ‡ ‡ ‡ Would you like to hear NO. when you call your prospect NEXT? Did you create a desire in the Prospect¶s Mind.

Things To Remember In Closing A Sale The object of your sales effort is to motivate your prospect to make a decision in your favor NOW! Emotions drive prospects into decisions In closing. nothing is more contagious than your enthusiasm An assertive attitude of expectancy coupled with a planned strategy will help you close more sales. .

He scratches his head. He cooperates better. He indicates concern about his problem. His facial expression reveals concern. He leans forward. He asks questions. nods his head. He begins to calculate the benefits. rubs his chin. He becomes involved. he begins to study your proposal. He pulls his chair up closer. His tone of voice changes. He becomes more friendly towards you. He asks questions as if he had made the purchase.Learn to Recognize the BUYING SIGNALS He puts on his glasses. He begins to pay closer attention. .

Problems with Closing the Sale ÓSales Manager¶s Fear ÓProspects Fear .

Sales Manager¶s Fear Ó Fear of hearing µNO¶ Fear of µRejection¶ Sense of µCaution¶ perception that the prospect may feel offended ± common feeling shared by many Sales Managers in their natural market Ó Ó .

Prospects Fear Ó Buying a wrong plan Fear of criticism from family members/colleagues/friends Paying too much Ó Ó .

Closing is ³Transfer of Enthusiasm´ your conviction in the plan becomes the prospects conviction Confidence Level .Presentation you make .  .Closing Conditions Be prepared ± speak with AUTHORITY  Establish DEADLINE ± keeps you say most important words ± business like  Be Determined to close TODAY  Project POSITIVENESS  Check your Enthusiasm Level .Recommendation you made  Become a Enthusiastic and Confident ³Assistant Buyer´ and be prepared to ask the Prospect BOLDLY!  Take your Prospects mind off the big decision by asking minor question.

Proven Presentation Principles Build Credibility Be well-mannered Simplify your suggestions Speak the prospect¶s language Speak Authoritatively Sell at the buyer¶s pace Avoid overstatements Avoid dogmatic statements Make it the Prospect¶s Idea Summarize Strategically Close with Confidence ± Move to Act .

Closing Techniques: 13 steps Always Converse Clarify Connect Gain Commitment & Close .

 Hot Button Close 90% buying decisions are made on 10% features / advantages / benefits Find the Key Benefit.1. that your Prospect is ³looking for´ or has ³appealed´ him Invite ³Key Objection´ ± ask open ended neutral/leading questions ³Question Skillfully´ and ³Listen Carefully´    .

 .  Trigger Benefits Close Assist your Prospect in imagining the utility of maturity benefits of the Plan ± make him imagine his post retirement life / child¶s higher education / daughter¶s marriage. Speak about the timely utility of rider activation.2.

3. Stalling Close To overcome ingrained buying resistance  No Need ± that is exactly why you need to buy  No Money ± that is very reason why you must buy  No hurry ± that is the very reason why you should be buying NOW! .

 I am into business. Objection Close Take the objection and make it the reason to buy. I can¶t plan regular premium ± We have limited payment premium facility  I can¶t pay annual ± Would quarterly payments suit you most? .4.

Invitation Close After presenting the ³solution´ and matching with the need analysis from fact finding . Make him say Yes several times.INVITE ³Does this Plan now meets most of your needs?´ Keep seeking his consent while doing the fact finding.5.    . need analysis and Plan building.

6. advantage and benefit of the Plan. Ben Franklin Close America¶s first self-made millionaire  Write down at least 10 reasons how the Plan meets the Prospect¶s Needs. .  In the Process summarize every single feature.

Trial Close Ask trial closure questions  Would you like to undergo medical examination tomorrow morning or evening?  Would you provide me a photocopy of passport or school certificate as your DOB proof?  Whom would you like to nominate for your insurance policy?  May I help you to fill this proposal form?  Would you like to have shorter premium payment terms? .7.

Assumption Close Assuming that the Prospect is willing.8. start the process of documentation and seek his participation .

 3rd Party Story Close You could wish to narrate an interesting story.  . People seldom forget interesting stories. which the prospect could relate to his situation.9.

Door Knob Close    With very stubborn Prospects. thank him for the time and just pack your bag and walk towards the door.10. you could make your day! . Turn back and ask ± Before leaving  may I ask you 1 simple question that would help me in my profession?  What stopped you from buying this Plan? This is final and last effort to invite the key Objection If you get it.

11. check your enthusiasm level and make a powerful closing phrase and keep silence ««««. just keep the filled form in front of him.. Sudden Death Close    If your Prospect has called you on 4th occasion. .

Price Close DO not discuss the price until you have discussed all the features. Prospect.The Plan is only costly in comparison to your alternative saving plans . advantages and benefits. just suppose of price would have not been your concern.Mr. would you like to go for this plan? .12. .It would only COST your family if you do not buy this Plan .The Plan would only become expensive if you delay your decision .

13. if you happen to know someone who needs a similar service or someone thinking on buying life Insurance. I should be the first person getting a chance to talk . Referral Closing   Would you like to help me in my profession? Promise me.

We miss 100% of the sales we don¶t ask for .

How many times do I ASK? Extracts from Page 223 ± Ziglar 46% ask ONCE and quit 24% ask TWICE before giving up 14% ask THIRD time 12% hang in there to make FOURTH attempt = 96% QUIT after making 4 attempts to close 60% of all sales are made after fifth closing attempt ³4% Salesmen´ make these 60% SALES! .

The Final ACT!     Ask for the Cheque Take the final signature And only then ask for other information to be filled in the form NEVER fill the application form before the cheque is taken. you might lose the sale .

Thank You .