If you do insurance marketing like this, closing deals will no longer be difficult!

When selling insurance, we always encounter various problems: insurance is hard to sell, the profit is too low; the customer is too smart, and refuses before we even mention insurance; the insurance company misleads the customer, why let us pay for it; my customers have already bought insurance, how can I let them buy another one...

This makes insurance sales a problem. How to solve this problem and successfully market insurance ? The author has compiled some issues that account managers often miss or ignore when marketing insurance, and combined with years of experience in branch counseling and customer marketing, he has summarized, generalized, modified and supplemented them, referred to as the "3C Principle" - Choice, Check, and Candor.

Today we are going to talk about actual cases of the "3C Principle" in daily insurance sales in banks, so that everyone can have a clearer understanding of how to use the 3C Principle in daily sales.

The author once coached a branch of Bank A, which was located at the junction of three communities and had a very advantageous location. There were seven branches of other banks nearby, one of which was the local branch business department of another bank. The bank's branches are not large and have very little customer traffic. The average number of people calling for numbers per day is less than 30, and the vast majority of customers who come to buy financial products are generally older.

The branch has a customer manager named Xiao Shen. Although he works hard to sell the bank's various products, he relies almost entirely on marketing financial products to maintain customers. Therefore, the sales of products other than financial products are very unsatisfactory, and he has not made a successful sale of insurance products in nine months.

When I was coaching Xiao Shen, I found that there was no problem with the sales pitch Xiao Shen used, and he could guarantee to recommend insurance to at least 10 customers every day. But why did he still not get a single sale for half a year?

Let us analyze what went wrong in Xiao Shen’s insurance marketing based on the situation of this outlet and using the “3C principle”.

Choice: Choose the right insurance company/product

Since the products sold by Bank A are basically dividend-type insurance with installment payments or lump sum payments, the coverage is low and there is a serious problem of homogeneity. Therefore, when Xiao Shen recommends products to customers, customers often compare the insurance dividends with the high-yield financial products purchased from the bank as soon as they hear about the benefits, and then refuse to buy insurance.

During the counseling process, the author learned that the three cooperating insurance companies of this outlet are complementary: a large listed insurance company R, a Sino-foreign joint venture company H, and a local insurance company D. The author asked Xiao Shen how to choose products to recommend to customers from the ten products of three companies? Xiao Shen answered very directly: We will recommend the company with the highest intermediary business income. If installment payment doesn’t work, we will recommend lump-sum payment.

Based on our previous experience in selling insurance, Xiao Shen’s answer was not wrong. But the key point of selection is never to choose which product from which insurance company, but to choose the products that should be marketed among the products of these insurance companies.

Therefore, the author also suggests that Xiao Shen screen the main marketing products of each company based on the actual situation of the outlets and the cooperating insurance companies:

• R, a large listed insurance company, has nationwide business. In conjunction with the bank's launch of a co-branded card with a travel website, it may consider introducing self-driving insurance and accidental medical insurance.
• Sino-foreign joint venture company H launched a special critical illness product, which just made up for the lack of insurance product types in its outlets;
• Insurance company D in this province has slightly higher fees, but it can consider introducing dividend-type insurance and annuity-type insurance with relatively high single premiums.

The combination of such choices not only takes into account the intermediary business income of the outlets, but also increases the types of insurance. At the same time, it can appropriately recommend different product combinations for different customers, and combine with the marketing activities of the outlets to form mutual influence and promotion, which can be said to be "killing four birds with one stone."

Based on the characteristics of these two insurance products, Xiao Shen combined them with Bank A’s travel network’s preferential travel activities and prepared to start inviting customers.

Before inviting customers, Xiao Shen had already made plans - he would not simply choose to market these two protection insurance products, but chose to combine and market these two protection insurance products with the dividend insurance of Insurance Company D.

For customers, such a combination not only takes into account their protection, but also allows them to enjoy good returns; for banks, it is equivalent to recommending two insurance products to a customer, increasing the number of business transactions and intermediary business income; and for insurance companies, their products are highlighted and promoted, and all three parties benefit.

Check——Products must match customer needs

When inviting customers, Xiao Shen began the first customer screening work. Because the main focus is on the combination of self-driving car protection insurance, accidental medical insurance and dividend insurance, Xiao Shen set the standard of customers whose families own a car worth more than 200,000 yuan during the initial screening. But after the initial screening, Xiao Shen found that the customers who met the criteria were generally older.

According to the regulations of the China Banking and Insurance Regulatory Commission, banks cannot sell term insurance to people over 60 years old. After discovering this, Xiao Shen adjusted his thinking in time and decided to adopt a roundabout approach to re-screen target customers.

First of all, Xiao Shen redesigned this combination insurance so that the protection insurance in the combination not only provides high protection, but also returns the principal upon maturity, and also comes with a relatively high accidental hospitalization allowance. At the same time, combined with the lump-sum dividend insurance, the income also appears to be relatively stable. Xiao Shen matched the selling points of this combination product with the needs of the existing customer base, and finally shortlisted 30 people and prepared to make phone invitations.

Secondly, among the invited customers, Xiao Shen found that there are three customers (as shown in the figure below) who are more representative:

The first customer was Ms. Wang, and Xiao Shen decided to use Ms. Wang’s son as the entry point. Ms. Wang's family is well off and has a relatively stable income. Ms. Wang's son and his family of three would drive to the old lady's house every weekend to spend the weekend. At the same time, Ms. Wang was conservative in financial management. Xiao Shen decided to start from the perspective of Ms. Wang's son driving, with protection as the entry point, and at the same time use the characteristics of insurance's final return to compare with commercial auto insurance's non-refund to conduct marketing;

In view of Ms. Wang's advanced age, Xiao Shen suggested that Ms. Wang use her son as the insured person; and in arranging the time for the interview with the bank, Xiao Shen cleverly arranged two times: the first was on Friday afternoon, when Ms. Wang was on her way home from shopping for groceries. Xiao Shen gave Ms. Wang a box of free-range eggs as a gift as a "customer giveback" and arranged the interview for the following Monday afternoon in advance; the second was on the following Monday afternoon, when Xiao Shen invited Ms. Wang to the bank and started the subsequent marketing with "family affection on the weekend" as the entry point.

For the second client, Ms. Su, Xiao Shen decided to use Ms. Su’s grandson as the entry point. Ms. Su loves her grandson very much and buys him craft gold every Chinese New Year. In response to Ms. Su's habits, Xiao Shen started preparing education funds for his grandson's future. At the same time, considering that he would need to cross two busy roads on the way to and from school, he needed to prepare for accidental insurance and medical care, combining the two.

In terms of scheduling the interviews with the bank, Xiao Shen also arranged two interviews. The first one was before Ms. Su picked up her grandson from school, to communicate the concept and give her a small gift. At the same time, he learned that Ms. Su also had to send her grandson to special classes on weekends, so the second interview was scheduled for Monday morning, taking advantage of Ms. Su's love for her grandson to conduct marketing.

The third customer, Mr. Hu, is a retired teacher and belongs to the more affluent and fashionable customer group. During the first interview, Xiao Shen did not talk about marketing, but instead invited Mr. Hu to share his experience in customer travel in the subsequent salon. In the salon, Mr. Hu's travel sharing and the more thrilling experiences during the trip not only made other customers attending the meeting think, but also touched Mr. Hu himself. In the follow-up of the salon, Xiao Shen once again used the excuse of gratitude to stimulate Mr. Hu's memory through an interview, and struck while the iron was hot to successfully market the insurance.

Candor——Facing customer doubts

During the interview, it is inevitable to encounter customers' questions about insurance. When facing the objections of these three customers, Xiao Shen used some tricks. He faced the customers' questions straightforwardly, allowing the customers to accept and purchase the insurance. At the same time, he did not violate the compliance requirements, laid a good foundation for subsequent services, and avoided subsequent disputes.

Let’s take a look at what Xiao Shen did.

During the interview with Ms. Wang, Ms. Wang said that her son also bought car insurance, but people around her said that it was easy to pay the insurance premium, but when it came to claiming compensation, they often found various reasons to refuse compensation. In this regard, Xiao Shen said to Ms. Wang:

Xiao Shen: Aunt Wang, I can understand your concerns. Indeed, there are many similar news reports now, and many customers who have purchased insurance have been harassed and denied compensation. But it's different when you buy from me!

First, the insurance I recommend to you has been screened by our bank and me personally, and its strength is guaranteed and its quality is trustworthy. Think about it, you are my VIP customer, how could I recommend you a product with a bad reputation, wouldn't that be destroying my own job?

Ms. Wang: Xiao Shen, I believe you, but the insurance company’s contract is very tricky.

Xiao Shen: Thank you, Aunt Wang. You see, if you trust me, then I will definitely keep an eye on your assets. Now the country also strongly encourages people to buy insurance, and has been improving the insurance law. In addition, with me checking for you and the supervision of the media, with such triple protection, how dare the insurance company cheat you? Then this insurance company will probably be fined by the state! How high do you think the cost is? Can the insurance company make such a loss-making deal?

Xiao Shen first directly affirmed Ms. Wang's doubts, then established empathy with the customer , and then told the customer that both parties had the same position in dealing with the insurance company. Then he answered Ms. Wang's questions positively, and in response to the objections raised by Ms. Wang, he gave positive answers from the perspectives of policy, public supervision and his own interests, which put Ms. Wang at ease.

When marketing to Ms. Su, Xiao Shen discovered that Ms. Su was very fond of her grandson, so Xiao Shen decided to focus on dividend insurance and provide additional protection. Ms. Su had purchased financial products at an outlet and was sensitive to returns, so she asked Xiao Shen to write a document and a confirmation letter of promised returns. In this regard, Xiao Shen said to Ms. Su:

“

Aunt Su, according to national regulations, we cannot make any promises about this income. If I make a promise to you, I will have to go home and will no longer be able to serve you. But don't worry, the state has regulations that 70% of the distributable surplus of this insurance must be distributed to customers.

Competition among insurance companies is also fierce. The insurance companies that our bank cooperates with have always had good dividends in the past. If they distribute less and customers are dissatisfied, our bank will not cooperate with them. Wouldn't that be a bigger loss for them?

You save money for your grandson to go to college in the future. This money is for this purpose. No one who wants to take it out for other purposes can get it. Just keep it in your account, and the interest will be compounded, which is much better than putting it in the bank with simple interest. When your grandson goes to college, you can take the card. He will remember his grandmother's kindness while he is studying. How wonderful it is!

Xiao Shen directly rejected the client's proposal, but immediately used "self-deprecating" to ease the possible embarrassment. Xiao Shen answered the question with the help of the policies of the China Insurance Regulatory Commission and the competition among insurance companies, and then emphasized the positive advantages of the product, allowing customers to feel the positive impact of insurance on their future economy without being limited to a promise.

Mr. Hu has a good understanding of insurance and highly recognizes it. However, in Mr. Hu's opinion, one has to go to an insurance company to buy insurance, as banks are not professional in selling insurance. In this regard, Xiao Shen marketed Mr. Hu in this way:

“Uncle Hu, you have a strong sense of insurance and you know that in addition to providing protection, insurance is also an important part of family financial management.

You have chosen our bank and selected me as your exclusive account manager, so I will definitely be responsible for your assets. In addition to insurance, there are also financial products, savings, etc. I will also make a more comprehensive combination and match for you based on your actual situation to protect your rights and interests.

So, it is right for you to buy from the insurance company, but it is not comprehensive enough for you. Buy at our bank,

First , it can enrich your asset allocation while improving the safety factor of your assets.

Second , we will provide you with a comprehensive financial plan to maximize the returns on your assets.

Thirdly , the insurance we represent is carefully selected from hundreds of insurance companies across the country. We screen them for you first, so you can feel more at ease when purchasing!

Xiao Shen's answer was very straightforward. He directly expressed his confidence to his client Mr. Hu: "My professionalism is reflected in my allocation of your overall assets. I am the best!"

With the development of media today, many banking operations have been "revealed". If we continue to cover up and evade the issue when faced with customer objections, how will the customers feel? On the contrary, it is better to be straightforward. Frankness is an attitude, a skill hidden in speaking. Reasonable use of "frankness" will not leave any hidden dangers for subsequent services, and will also allow customers to accept insurance positively and bring a more positive attitude.

In general, the "3C Principle" integrates matters that are easily overlooked or omitted in the daily insurance sales process. It is not only applicable to insurance, but also to other retail products. In daily marketing, account managers can collect more success and failure cases of themselves or others around them, summarize them, and improve and perfect them in their own marketing. I believe it will be more helpful to marketing work!

Author: Zhao Yao

Source: Retail Finance Channel