How would you want to be “sold?” How often do you get calls from someone pitching their products and services with little regard for what really matters to you or your agency?
When someone reaches out to you, would you rather hear a compelling story or a sales pitch? Most likely, everyone would choose a story. It’s a formula that’s been used for hundreds of years and continues to be used in advertising and entertainment, and yes – in sales.
B2B Storytelling plays an important role in capturing the attention of an audience and many salespeople use it. But if the story is more about you then them – their interest will wane. Your audience wants to know – what’s in it for them? How is this going to help them? How is it going to make their job or life easier?
The 4 Steps to More B2B Insurance Sales
So, why aren’t producers using more client-centric storytelling tactics in sales? How can you capture the attention of prospects who are getting pitched on a regular basis, leading to more B2B insurance sales? Here are four ways to make the story more about your client and less about what you do, taking your B2B insurance sales to the next level.
1. Create your unique value-to-the-client proposition.
Everyone at your agency should not only be able to articulate your value proposition, but how your offer benefits the client. Include information about the potential financial impact your clients can achieve by partnering with you, how you protect clients and why you do it better than others. Give your producers relevant talking points around common issues each industry is facing. Ultimately, look for ways to position your firm as a business partner – not just an insurance agency.
2. Create a strategy for connecting with prospects.
Most business connections begin with a phone call but 74% of sales calls result in voicemail.1 What is your producers’ voicemail strategy? It may sound basic but having a universal approach to these messages adds efficiency to a producer’s day and can increase response rates by up to 22%.1 Identify what’s worked in the past, such as including a shortened version of your value prop or saying exactly when you’ll call again…and then CALL AT THAT EXACT TIME. If you’re using email to reach prospects, avoid purely insurance-jargon subject lines and keep the overall email brief and to the point.
3. Use the PSIC model.
PSIC stands for Problem, Solution, Impact, Case Study. Think about what non-insurance problem your potential client is facing. What solution exists for that problem? What are the positive impacts of those solutions? Create a sense of urgency by asking about the financial impact of not fixing that problem right away. Once you’ve established the problem-solution story, you can then introduce the data as part of the solution. Share stats about specific outcomes and how it will help their business move forward.
4. Make your client the hero of the story.
A key component of the PSIC model is creating a case study that’s personalized to the client’s specific need or challenge. Facts and figures are helpful, but a humanizing story makes it memorable and relatable. For example, suppose you’re speaking with a trucking company. Create a hypothetical scenario where one of their trucks breaks down and you show how your claims process is faster than your competitor, getting them back on the road sooner and increasing their revenue. The impact of showing how you understand their business and their challenges, versus purely trying to sell them on a product, is a stronger approach.
Sales calls should feel more like an interview, not a pure product pitch and solutions download. Your prospect should speak for most of the conversation. When it’s your turn to share, prove that you’re listening by referencing their specific problems or things you’ve learned about their industry. Ask more questions!
Stop talking about yourself and seek to learn more about what your client really cares about.
Sales calls should feel more like an interview, not a pure product pitch and solutions download. Your prospect should speak for most of the conversation. When it’s your turn to share, prove that you’re listening by referencing their specific problems or things you’ve learned about their industry. Ask more questions!
Stop talking about yourself and seek to learn more about what your client really cares about.
Producer Academy – Register for Dallas Today!
June 14-15, 2023
It takes skilled people to accelerate your firm’s growth. MarshBerry’s Producer Academy is designed for insurance agency/broker new hires and producers looking to sharpen their skills, and to help get sales producers on track to validate and increase new business production. Space is limited for this 2-day program. Register today!
