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How to sell Business Protection

How to sell Business Protection. <Insert name>. <Insert date>. Agenda. How vs. why Problem/solution/benefit Pre-sale/point of sale/post sale The Business Protection sales formula Business Protection is “back to front”. How vs. why..?.

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How to sell Business Protection

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  1. How to sell Business Protection <Insert name> <Insert date>

  2. Agenda • How vs. why • Problem/solution/benefit • Pre-sale/point of sale/post sale • The Business Protection sales formula • Business Protection is “back to front”

  3. How vs. why..? Paul Babiak, Robert Hare - Snakes in Suits: When Psychopaths Go to Work, 2006

  4. What is it that you “sell” to your clients? Relative size of market for each need PROBLEM SOLUTION BENEFIT

  5. What is it that you “sell” to your clients? Focus first on WHY… And then on HOW & WHAT PROBLEM SOLUTION BENEFIT • WHAT • Adviser? • Client? • WHY • Adviser? • Client? • HOW • Adviser? • Client?

  6. The sales journey “A journey of a thousand miles begins with a single step”Lao-tzu, The Way of Lao-tzu - Chinese philosopher (604 BC - 531 BC) PRE-SALE POINT OF SALE POST SALE

  7. PRE-SALE • HOW • Overcome existing barriers • BP a part of your business strategy • Identifying target clients • Finding new clients • Marketing campaigns • Appropriate tools to do the job – Serious Illness Cover (SIC) & Disability Cover for Business (DCB) Relative size of market for each need • WHY • The market has changed? • Are you adapting to • survive or thrive? • The sheer “size of the prize” • Your business strategy • High road vs. low road

  8. POINT OF SALE • HOW • Sell the value of advice • Become the architect of the solution • Taking the next step • Business Protection fact find Relative size of market for each need WHY Logic makes people think Emotion makes people act (buy) Sell the problem

  9. POST SALE • HOW • Customer vs. client • Annual review • Cross selling opportunities • (RLP / PMI / KPC / (SP / PP) / LP / PP) • Ask for referrals • Benefits - GIOs/Vitality • Appointment of Additional Trustees (Scotland from outset) Relative size of market for each need WHY To build a sustainable & profitable business

  10. The Business Protection sales formula • Identify the company type • Sole Trader • Partnership • Limited Liability Partnership (LLP) • Limited Company • Identify the protection need • Key Person Cover/Continuation cover • Succession planning/share purchase/exit strategy • Loan protection • Personal protection Relative size of market for each need

  11. Business Protection is back to front Relative size of market for each need Clarify the protection need by asking… Mr. Business Owner, what do you intend the proceeds to be used for...? Then create a solution for the specific protection need

  12. Where are you going to start... ? Relative size of market for each need

  13. Thank you

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