27-Mar-2020

Understanding

Insurance is a business of sales and and sales process. How each agency does it is entirely up to the agency’s processes that are in place. Some processes may be successful, while others may not be at the level you would like them to be. It is therefore always vital to revisit these. If you are an InsuredMine customer, you may be well aware that sales is one of our priority because we understand that majority of your business economics depend on it. But we do not define sales in a traditional way. We consider communication to be an integral part of sales. For this reason, we have developed an arsenal of tools (technology) that makes it easier for agents to communicate and service the needs of insurance customers.

Embracing the Changing Landscape
In today’s world where people are embracing the disruption of traditional methods, it’s essential to understand and adapt to the changing landscape of sales. Sales processes these days are largely driven by prospects. Instead of waiting for the sales teams to contact them, prospects go online, research best solutions available for their problems, read reviews, and talk to their colleagues. Because they have a better understanding of their problems, they easily identify products that are available in the market that meet their needs. At this point, the sales team has transitioned from leading the sales process to guiding it. By understanding this shift to a prospect-driven process, sales teams can better leverage a prospect’s decision-making and buying process. Instead of only focusing on sales, it makes a much bigger sense to focus on communication to build the brand around your customer service and expectations.

The open roadFreedon with the portfolio approach

Regardless of what you may have learned or read, sales is not just about the product. The overall experience plays an important role. Sales is where processes and people are brought together. When we add in technology to this construct, it makes the process a whole lot easier. While some of these processes can be achieved through Deal Boards, Emails, Campaigns, Automated workflows, etc., the most important of these is achieved only through good communication practices; communicating the benefits of using the product or service, servicing, and listening to any customer queries or concerns. Understand that overloading your prospects with all information you possess in the early stages of your sales cycle overwhelms them. It also hinders your ability to keep in touch with them. So save some information and material as a reason to follow up later on.

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