When faced with an empty sales pipeline, many agencies and their producers find themselves resorting to desperate sales tactics. This often stems from a lack of a well-defined sales process, both at the team and agency levels. To address this issue, ask three fundamental questions that can level up your sales approach.
1. Who Are You Talking To?
The first question that demands attention is, “Who are you talking to?” Agencies need to invest time in identifying their ideal prospect. This involves a detailed exploration of both demographics and psychographics.
Demographically, agencies consider factors such as location, revenue, and the number of employees. Understanding the industry and whether the target audience is blue or white-collar is equally important. On the psychographic side, agencies must delve into the mental standpoint of their prospects. What do they believe in? What are their values? Making these distinctions helps in creating a clear picture of the ideal prospect.
Sales success often lies in finding individuals who resonate with your values. By targeting prospects who share similar psychographics, agencies can establish a connection that goes beyond demographics.
2. What Are You Saying to Them?
Once the ideal prospect is identified, the next crucial question is, “What are you saying to them?” Many agencies fall into the trap of making themselves the hero of their own story. However, a powerful marketing tip is to shift the focus to the prospect’s story.
Prospects are only interested in what’s in it for them. Instead of bombarding them with information about your agency’s history, resources, and affiliations, focus on addressing the prospect’s needs. Crafting the ideal prospect story involves following a time-tested storytelling framework – a hero with a goal facing a problem, in need of a guide (you) with a solution.
3. Where Are You Saying It?
The third vital question to consider is, “Where are you saying it?” Traditional insurance sales training often emphasizes cold calls and emails, but the landscape has evolved. Agencies need to adopt a more expansive approach to marketing distribution.
Alex Hormozi’s “Core Four” grid introduces four ways to reach out to prospects:
- Cold one-to-one
- Warm one-to-one
- Cold one-to-many
- Warm one-to-many
For the team struggling with an empty sales pipeline, focusing on the warm one-to-many approach can prove transformative. Utilizing social media, webinars, and public speaking as channels helps you broadcast your message more efficiently and widely.
Agencies can enhance their sales strategy by addressing these three essential questions: who are you talking to, what are you saying to them, and where are you saying it? By aligning your approach with these key considerations, agencies can attract the right prospects, communicate effectively, and optimize marketing distribution channels for better results.
Watch the full video here – 3 Questions That Will Change Your Sales Forever
Resources:
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- Connect with me on LinkedIn: linkedin.com/in/andyneary/
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Business is no longer about who you know. Business is about who knows you. In a noisy industry like we’re in gang, you got to get people to know who you are.