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Selling Skills - FAB Technique

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FAB        ulous
                                 Selling Techniques
INTRODUCTION

The insurance agent shakes hands with t...
Initially, it keeps the focus on the one thing that must always be front and centre in any
sales situation: the buyer. Ins...
Features, Advantages and Benefits
It's helpful to think of your product as made up of three distinct parts:

• Features
• ...
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Selling Skills - FAB Technique

  1. 1. FAB ulous Selling Techniques INTRODUCTION The insurance agent shakes hands with the potential client, sits down, smiles and says, "I have a product here that I believe to be the best life insurance package I have ever seen. In all of my years in the insurance business, I have never been so impressed with a product. I'd like to tell you all about it." The salesman knows the ins and outs of his offering and no one who listened in on his sales pitch could doubt his love and support of the insurance product for even a split- second. What happens when he concludes his impassioned pitch? More often than not, nothing happens. No policy is written. No sale is made. In the office across the street, an agent meets with a potential client. After pleasantries are exchanged, he asks "So, what do you want from all of this? What are the things you'd like life insurance to accomplish for you? He listens attentively to the prospect's answers, asking follow-up questions for clarification and to elicit more information to help him understand the prospect's needs and wants. As the conversation progresses, the agent gets to know his potential client better. He is able to establish a rapport with the person and can determine what might be appealing. The agent, who has been noting fact after fact during the interview, is able to then explain exactly what can be done to best meet the needs of the prospect. Yes, he pitches his life insurance product, but he does so based upon the expressed interests and concerns of the potential client. What happens when he finishes? More often than not, a new policy is written. A sale is made and agent will find himself with yet another commission. These two examples reveal the power of using a "question and answer" (Q&A) approach to selling life insurance. Those who sell life insurance using methods rich in listening and questioning invariably outperform agents whose focus in on their own opinions and expertise. In addition to helping to establish great agent-client rapport, Q&A tactics are a powerful strategy for selling life insurance for two reasons. 2|Page
  2. 2. Initially, it keeps the focus on the one thing that must always be front and centre in any sales situation: the buyer. Instead of creating a product focus, the Q&A methods allow those selling life insurance to keep the meeting's attention directed to the buyer. People, by nature, consider themselves and their interests of paramount importance. This method allows the insurance agent to make sure the meeting unfolds in a manner that will interest and motivate a potential buyer. Secondly, the technique provides the seller with a great deal of valuable information. Those selling life insurance with Q&A techniques find themselves armed with client- specific responses to frequent purchase objections. They are also able to better explain the policy, its advantages and benefits in ways that are meaningful to the prospective client. An insurance agent can also make sure they are offering a product that truly meets the unique needs of the prospect. Even the most well delivered product-centred sales pitch can fall on deaf ears. Prospects long to be at the forefront and are far more likely to be motivated to purchase life insurance if the agent focuses attention on their specific needs. Methods that make use of significant Q&A to sell life insurance put clients on centre stage and motivate them to purchase policies. "Features tell, but benefits sell." The top marketers know "Benefits" tap into emotions and ultimately motivate people into action 3|Page
  3. 3. Features, Advantages and Benefits It's helpful to think of your product as made up of three distinct parts: • Features • Advantages • Benefits A feature is what a product is or does Example: “This car has ultrasonic sensors fitted to each bumper and electronic power- steering” [FEATURE]. A benefit is what it will do for your customer Example: “It can help you park in tight spaces without risk of damage”. [BENEFIT] You can either take a Whole of Life policy or a Term policy [both FEATURES]. Please do not confuse a Term Policy with Term Assurance! And it's been a golden rule of business since the 1920's that features don't sell, benefits do. Apply it to your sales pitches, presentations and conversations, and to your marketing brochures, letters and adverts. The more you communicate how your business can help solve your customer's problems or needs, the more you show benefits, the better your sales will be. Your customers might want to know features, so that they can see what's included in the price, but it's the benefits that actually sell your product or service. 4|Page
  4. 4. Develop every product feature into a tangible benefit, an end result that satisfies a customer problem or need. Features are merely descriptions of what you do or what you offer. For example, a feature is a diamond- tipped 10mm drill bit... ... the advantage is "it makes holes in seconds." BUT the benefit is that it saves you TIME. NOTE: It is only a benefit if you are a Handy-man A feature might be "in-dash GPS", but the benefit is "never ask for directions again." The benefit of sheets woven with “600 thread count 100% Cotton Satten" is "sleep in the softest sheets ever made -- and never feel those sheet bumps again." Let's take another example of a feature and walk through the exact steps to convert 'em into a benefit... 5|Page
  5. 5. ClickBank You may be familiar with ClickBank.com -- they're a "digital products retailer." A "digital products retailer" describes ClickBank.com... and that's a "Feature." When we describe what a "Feature" does... how it functions... we call it an "Advantage." "Advantages", like "Features" are often confused with "Benefits." Think of "Advantages" as a word bridge between a "Feature" and its "Benefit." For example, one advantage of ClickBank is it allows e-book publishers to instantly tap into a network of over 100,000 affiliates for less than 50 bucks. A "Benefit" eliminates all of the guesswork. A "Benefit" states the, "What's in it for me" inspired by your "Advantage." And in this example, the "Benefit" of ClickBank.com's "Advantage" is it lets you rapidly test an affiliate program cheaper than paying an expensive programmer to create your own from scratch. So let's review: Clickbank.com is a "digital products retailer." That's a "Feature" of their service. Their "Advantage" is instant access to over 100,000 affiliates for less than 50 bucks. And the "Benefit" of this "Advantage" is e-book publisher vendors get access to fast and easy solutions to launch an affiliate program without having to pay an expensive programmer to create one from scratch. 6|Page
  6. 6. So what? WIIFM? The Advantage Trap Put yourself in your customer's shoes and ask 'What's In It For Me?' (WIIFM?). So what if the laptop you're trying to sell me has an 867MHz processor, 256MB memory, a 38 cm display and built in Bluetooth? What's In It For Me? And don't fall into the common trap of merely developing your features into advantages – how a product or service MIGHT be used or MIGHT help a prospective customer, or how it compares with your competitors. What does it mean for the customer? What will he or she be able to do as a result? Benefits are only really benefits if they deal directly with a customer need. Take a new mover with the feature: 'Power driven Quantum 15 horse-power engine'. 'It's the quickest mower on the market' isn't a benefit – it's an advantage. The benefit is that you can mow your lawn in half the time, allowing you more time to enjoy your garden. So don't fall into the trap of getting over- enthusiastic about your product and its new, unique and revolutionary features. Don't focus on the bells and whistles. All your buyer cares about is WIIFM? However, all this will be lost on a person who has no lawn to mow – KNOW your customer! 7|Page
  7. 7. Think FAB – Features, Advantages, Benefits The secret of coming up with genuine benefits is to be customer-oriented. The benefit you give is much more powerful if it fits a specific, explicit customer need. Review your existing sales and marketing literature, and rethink your sales pitches. How can you turn features and advantages into benefits? The following are some magazine ads. Look at how ads (3) and (4) give tangible benefits, whilst (1) and (2) just give features and advantages – (1) Magazine ad for O2 Video Media Messaging/ Games/ Downloads/ Music/ Sport/ Entertainment [ALL FEATURES] Get into O2 Active. (2) Newspaper ad for Philips 'Philishave' Shaver Each of the three rotary-action shaving heads has 90 omni- directional slots [FEATURE] to catch all the hairs, irrespective of length and angle to the skin [ADVANTAGE]. The shaving heads also float independently to ensure they follow every contour of your face [ADVANTAGE]. The double action cutters [FEATURE] lift each hair to achieve a closer shave [ADVANTAGE] and there is also a pop-out trimmer for sideburns [FEATURE]. 8|Page
  8. 8. (3) Magazine ad for Mercedes-Benz SBC is the world's first brake-by- wire system [FEATURE]. When it's raining, SBC even helps keep the brake discs dry by clearing water from the surface of the disc [FEATURE]. All measures which combine to reduce your stopping distance by more than 3% [ADVANTAGE]. . . SBC: only a split second quicker than normal braking. But then accidents can happen in a split second [BENEFIT]. (4) Magazine ad for Lady Protector The Lady Protector+ is the only women's razor with wire wrapped blades [FEATURE] to protect you from nicks and cuts [ADVANTAGE]. So it doesn't matter how speedily you whiz down a leg or zoom around an ankle [BENEFIT]. It always leaves you racetrack smooth. [BENEFIT] 9|Page
  9. 9. Neil Rackham, author of SPIN Selling, argues that the higher the value of the sale, the less effective advantages become, and the more effective benefits become. The more you relate your message to an explicit customer need (e.g. Avoid accidents, Shave as quickly as you want without mistakes) the better. How do you get to your customer's needs? Ask questions: probe the effects, consequences and implications of your customer's problems. What benefits are they looking for? Do what we what we should do – get close to your customers. Deeper benefits The deeper and more personalised the benefit you can use to appeal to your customer, the more powerful your sales pitch. John Forde of the Copywriter's Roundtable explains 'When a local gym selling memberships talks about the equipment they have upstairs, that's a list of features When they tell you how that equipment can get you slimmer and stronger than equipment they have at other gyms, that's a translation from feature to advantage to benefit. But when they start flashing you photos of lithe-looking members in gym gear... chatting confidently... flashing big smiles and toned flesh...show medical reports on lower blood- pressure and cholesterol well... That's approaching the deeper benefits.' The more benefits and deeper benefits you can stack up in favour of your product, the more chance you have of your sales pitch outweighing the price the customer has to pay. 10 | P a g e
  10. 10. FABulous Life Life insurance is a valuable financial tool because of the many benefits a life cover policy offers beyond a death benefit. Depending on which policy you choose, living benefits can be added to life insurance, which can be used in a variety of ways. Life insurance is the only investment option that offers specific products tailor made for different life stages. It thus ensures that the benefits offered to the client reflect the needs of the client at that particular life stage, and hence ensures that the financial goals of that life stage are met. The table below gives a general guide to the plans that are appropriate for different life stages. Life Stage Primary Need Life Insurance Product Young & Single Asset creation Wealth creation plans Young & Just Wealth creation and mortgage Asset creation & protection married protection plans Children's education, Asset Education insurance, mortgage Married with kids creation and protection protection & wealth creation plans Middle aged with Planning for retirement & asset Retirement solutions & mortgage grown up kids protection protection Across all life- Health plans Health Insurance stages Our product, LifePlan Plus is available as a term or whole of life Policy [FEATURE]. LifePlan Plus term insurance allows you to select the term based on your age and need [ADVANTAGE]. You will also receive a generous maturity value at the end of the term. [ADVANTAGE]. This maturity value is tax-free in your hands [BENEFIT] and you can now use this capital as extra retirement funding [BENEFIT]. What do you think are the Features, Advantages and Benefits of the whole life option? 11 | P a g e
  11. 11. FAB’s Our savings product, Cash Plan Plus, allows you to make “cash withdrawals” from the sixth policy year. Cash Plan Plus is extremely flexible. You decide how much you need and when you need it. st With our product, you can save up to 40% in premiums in the 1 year of your policy. What are the FAB‟s of the above? Use the table below to plot the Features, Advantages and Benefits. FAB’s FEATURES ADVANTAGES BENEFITS 12 | P a g e
  12. 12. To be successful, and to help you convert features into more powerful benefits one may ask: • What's in it for my prospect? • This [product or service] helps my prospect [Benefit goes here] • What this means to my prospect is [Benefit goes here] • [Feature] so that [Benefit] For example, this knife set is razor sharp... so that I can paper slice even squishy tomatoes..." So, before attempting to sell anything new or old for that matter, do this simple exercise. Fold a sheet of paper as you would a letter into three sections. In the first column, list the half-dozen major features of your offering. In the second column, list several advantages for each feature. And in the third column, list the possible benefits of each advantage for the different types of prospects you plan to call on. No matter what you're offering, your presentations will flow naturally and logically across the page, making it easier for prospects to justify buying. Benefits sell products. They are derived not from the product, but from the customer’s environment and mind set which may change at any given moment. Now you're armed … The features are what good things the product offers, Advantages are what this product provides that has an edge over the competition. The benefits would be what the consumer will be able to do or what they will get from buying this particular product. 13 | P a g e
  13. 13. Finally and for further success the “M” in FAB Now that you understand FAB marketing – Features, Advantages and Benefits. We need to look at the M - motives Quick recap: FEATURES – Are what your products and services have ADVANTAGES - Are what your features do BENEFITS – What the features mean to the buyer Pretty straight forward, but they are mainly LOGICIAL stuff to enable the sale. Remember that sales are made mainly through emotion and are BACKED UP with logic. So we need to remember to also add MOTIVES to the mix. MOTIVES - are what the features and benefits will satisfy with the buyer. What feeling will it give them? Importance? Safety? Significance? What are the emotions associated with your prospects and clients having your products and services? 14 | P a g e
  14. 14. You need to include these in your selling efforts. So let‟s look at a quick example: FEATURES “Sean, this baby car seat has a dual locking system on each of the straps…” ADVANTAGES “The advantage of this system is that it will take you a double click to fasten it or to release it instead of just one click on most models…” BENEFITS “That means that Holly will be secure in her seat and if she manages to prize open one of the locks then there is still the back-up of the other one…” MOTIVES “Sean, you‟ll have the peace of mind of the safest car seat on the market and also the fact that Holly will not be able to open the straps and harness herself” Get the picture! Remember, FAB is awesome, but FABM is even better! Buying life insurance is unlike any other product you buy. When you pay your premiums, you're buying the future, financial security for your dependants and loved ones, which only life insurance can provide. 15 | P a g e
  15. 15. Understanding What Motivates People to Take Action So I wanted to buy a car. It was a tough choice but I decided that my next new car would be a Volvo. So I drove down to a local dealer and told him I wanted to take a look at a few Volvos and could he help. "Of course" he replied. After viewing a few of the cars I decided to test drive one of them. As I drove around the salesman went on about how great this car is and how customers don't complain about the car and how they love their Volvos. I then asked him to be more specific about what customers like about their Volvo. He seemed to hesitate. It quickly became obvious no one had ever asked him to be specific. He said, "Well you know, people like the way it drives and how it looks." He rambled on but never got into specifics. After a few test drives and more "oohs and ahs" about how great it would be to own a Volvo I thanked him and left without buying a car. I just wasn't sure and wanted to think some more. About a week or so later I decided to go back and test-drive some Volvos again. This time I went to a different dealership hoping to get another “flavour” before making up my mind. The salesman that greeted me was a polite and unassuming individual. We'll call him Jack. Jack asked me simple questions about what I was looking for in a car. I also told him that I had test driven a few Volvos but was unsure of whether to buy or not. Jack listened and nodded his head and said, "Alright. Let's begin with the model you like the most." I said, "Sure." We got into the car and I was ready to start the car when Jack asked me to wait a minute. Jack then went on to explain the features of the car. By the time he was done I understood what every button on the panels, dashboard and doors could do. Then Jack explained how many of these features would make my drive more comfortable. It became quickly apparent that Jack understood how to sell benefits, not features. When we finally started driving, Jack began to go into the history of the Volvo; origin, model transitions and improvements and on and on. It was like listening to a Volvo documentary...with me in it! 16 | P a g e
  16. 16. When we finished driving, Jack stepped me around the car to explain some of the hidden safety features. Volvo is known for being one of the safest cars in the world. And after Jack's mini-tour around the vehicle I understood why. Needless to say, within an hour I was sitting down in his office finalizing the paperwork to purchase my first Volvo. I gleaned a couple lessons from this experience that I want to share with you. First, Jack wasn't a 'slick' salesman. He was an average guy with a very modest demeanour. Most people have it in their heads that to be a great salesperson you have to be a fast and smooth talker. Wrong. Who would you trust more? A fast talking salesperson like the first with slick answers and no depth or someone like Jack who answers all your questions with details and facts? Second, people don't want to be sold, they want to be convinced. Jack understood that giving me a lot of information would go a long way in helping me decide as to whether I wanted to buy or not. Having enough information allowed me, or better yet, convinced me to make a decision. I didn't buy from the first dealership because I didn't have enough information to make an informed decision. All I had were the opinions of other people who had driven the car from a salesman I didn't personally know. Testimonials are great, but unless I know the person behind the testimonials it mean very little to me. More often than not, people reject proposals or making a buying decision because somewhere in the sales process their concerns weren't addressed. They still have lingering doubts about whether it is the right choice for them. Jack's approach reminded me of an adage I keep in mind when trying to understand the link between motivation and action: "An uninformed mind is a confused mind. And a confused mind will NEVER make a decision." 17 | P a g e
  17. 17. In a hyper-capitalist society where we are inundated and bombard with new technology and features, our minds often times can't keep up. The job of a salesperson is to explain the new advances, but more importantly how they benefit the buyer. Whether selling or just trying to convince others, what motivates people into action is 1) knowledge and 2) that it is in their best interest. Think about it for a second. When you know 'how to' do something, you rarely hesitate in getting it done. When you know that it will benefit you personally, you will act! A final note: If you're in management, keep this is mind when someone doesn't buy into your approach, strategy or way of thinking. Maybe the reason they don't has less to do with your ideas, and more to do with them not having enough information to make an informed decision OR how it will benefit them in the long run. 18 | P a g e
  18. 18. Sales Done Right The other day our washing machine broke down. Bad news. My wife was frustrated and decided there and then that we would get a new one. For those of you not married, let me simply say that when you‟re wife isn‟t happy, life in the household isn‟t good. So off we went to buy a new washing machine at the local Lowe‟s. Entering the store we immediately went straight to the back where all the appliances were. There, standing near the washers was your typical Lowe‟s employee wearing the customary blue and red vest that distinguishes them from the ordinary shopper. I'll call him Bob. As my wife and I approached, we began explaining the situation. He said, “Give me a minute I‟ll be right back.” My wife and I continued to browse for a bit. I was eyeing the less expensive washing machines while my wife was eyeing the very expensive electronic machines. It quickly became evident that I would have no say in this matter. Bob returned, looked dead at me and said, “What type of washing machine are you looking for?” I replied sarcastically, “It doesn‟t matter what I want. Talk to my boss (aka My Wife)". Bob was quick to respond, “Sir, by that response I can tell you're a smart man.” (What a suck up statement...I knew I was in trouble :-) He then directed all his attention to my wife and began asking her a series of questions. It didn‟t take Bob more than a few minutes to sum up what he thought would be the best choice for my wife...the expensive choice I might add! 19 | P a g e
  19. 19. Bob said, “Well, this machine right here is my best seller. Compared to the other machines it uses 53 litres of water, while the other use 151 litres on average for a basic wash. Which means that you will get a Return On your Investment (ROI) in 2-3 years if you go with the best seller. Now I can show you these others, but again, this here is the best of the best.” My wife looked at me as if to say, “Well, this is the one.” Now, with a sales pitch like that, how the hell was I even supposed to respond? Bob was presuming to be non-biased, but his preference was clear. A 25% difference clear, if you know what I mean! It should come as no surprise to you that within minutes Bob was taking down our address, credit card number and asking what time the next day we would like to have the machine delivered. Bob reinforced a few of the principles of great selling that I often preach: 1. Lowe‟s is a reseller of many brands. Yet, Bob was pushing only one major brand. Not because he was being paid off, but because he believed in that brand. 2. Bob was “trained” well by the sales representative selling the brand through Lowe‟s. How do I know? How else would Bob know about the water efficiency? The ROI? Good sales representatives who sell through “channels” train people to sell when they're not around. 3. Bob used one of the oldest sales trick in the world. “Wouldn‟t you want to buy the best?” By telling us that this specific brand was his best seller, he was implying that unless we bought this brand, we would be settling for second best. And you know how much we capitalistic, egomaniac consumers hate settling for second best. In summary, a great salesperson is someone who believes in what they are selling, knows how to sell the “benefits” of owning the product and leverages the buyer emotionally into buying from the best. Damn that Bob...he was good! 20 | P a g e
  20. 20. The Tupperware Effect and Why we’re Influenced to Buy Now, many of us at one time or another has been invited to a Tupperware party or something similar. We all know what is going to happen; someone is going to sell us something at the party. And in the end, we come home with more Tupperware even though our cabinets runneth over with more plastic goodies than we shall ever need. How did we get sold? Let us recreate a scenario and then let us take a closer look. Scenario: Your friend Ann calls you and invites you to a Tupperware party she is hosting at her house. You find it hard to say no and so you agree to be there. You show up and there are other friends and soon to be new friends at the party snacking on hors d'oeuvres and sipping on some wine all the while having polite conversation. Your friend Ann then clinks her wine glass politely with a spoon to get everyone‟s attention as she prepares to introduce the Tupperware representative (a friend of Ann‟s I‟m sure). Introducing herself, the rep, then courteously asks everyone in the room to introduce themselves so that everyone can get to know a little more about each other. The rep then asks how many people already own Tupperware. Many of the guests raise their hands. The rep then asks each of them to share their experience with their Tupperware products and how they use them at home to make their lives more convenient. She then talks about the new products Tupperware has and then closes by thanking everyone for taking the time and supporting their friend Ann. Ann then says, “I‟m passing out this form for anyone who is interested in buying any of the items we discussed. And we also have more drinks and hors d'oeuvres.” That is it, no hard sales pitch and no sales pressure to buy. Next thing you know, you are filling out a form and signing up to buy a few of the Tupperware items even though you told yourself you wouldn‟t. 21 | P a g e
  21. 21. Sound familiar? What happened? Why did you feel compelled to buy something? What I want to do now is dissect exactly what happened and why. If you have ever watched one of those crime shows, you have probably seen the lead detective, after reviewing the crime scene recreate exactly what happened based on the evidence. What I want to do is highlight what rules of social dynamics compelled you to buy: 1) When you walked in you were greeted by your friend Ann. Rule of Liking: we are more likely to be persuaded by people we like, know and trust. We favour buying from people we like, in this case our friend Ann. 2) You were then offered free hors d'oeuvres and wine. Rule of Reciprocity: when someone gives you something, you feel a sense of obligation to return the favour in kind…in this case by buying something after eating Ann‟s food and drinking her wine 3) The rep than asked the willing to share their experience with their Tupperware products. Rule of Social Proof: when we see others doing something, we take our social cues from others and we are inclined to do the same. When the rep asks those who have bought in the past to share their experiences, what she is doing is providing you the buyer with „proof‟ that others love the product and so should you. 4) And, if you were one of those people that volunteered to share your experience with the group, then you were influenced by the following rule. Rule of Consistency: if you make a public statement, you will behave in a manner that is consistent with your public statement. By saying that Tupperware is great you‟ve pretty much painted yourself into a mental buying corner. You will look like a liar if you don‟t buy some of their newer products after stating how satisfied you are with their products. Although, there are other subtle dynamics at work in this example, I wanted to highlight the four major rules at work. Each rule in and of itself may or may not be enough to sway someone to make a buying decision, but the cumulative effect is powerful and effective. So here is my question to you, “How can you use one or all four of these rules to improve your sales closing ratio?” 22 | P a g e
  22. 22. How to Motivate People to Buy Life Insurance Most people do not want to think too much about life insurance because it forces them to acknowledge their own mortality. As the old saying goes: “life insurance is sold, not bought”. There are ways to motivate people to buy it, especially when you get them to consider the needs of their loved ones. If you can appeal to a person's sense of wanting to take care of his family, you can motivate him to buy a life insurance policy. Step 1 Show the person how many people actually depend on him/her financially. Most people have a spouse, children, or other relatives to whom they provide assistance. Even if someone is not the main breadwinner in the family, this person may be providing a part-time income that pays for schooling or little luxuries. This person‟s work around the household is also valuable. Step 2 Quantify the person's worth in terms in actual monetary value. Use an actuarial table to show him/her his/her expected lifespan. Tally how much money he/she makes each year, then multiply that by the span of years for which he/she plans to continue working. For most people, their work life will run into their 60s, or possibly their 70s. Determine costs for household responsibilities that the person handles now, such as home repairs, various taxes (e.g. property), paying for mobile phones or land lines, etc. Use these figures to come up with a hard- money cost that the family would face if he/she died prior to the end of his/her expected lifespan. Step 3 Ask the person to list his/her long-term goals for his/her family and how those goals would be affected if he/she died suddenly. For example, he/she might be planning for his/her children to go to university, and he/she might be in the process of saving part of his/her income to finance that. If he/she was gone, where would the money come from to fulfill that goal? Or, perhaps he/she is hoping to pay off his/her house within the next 10 years. If he/she died, could the spouse's income accomplish this alone? Step 4 Stress the peace of mind that life insurance would provide. Using the figures and goals you discussed with the person, remind him/her that upon his/her death, an insurance policy would provide a lump sum to take care of a situation: It could be used to run the household, pay for university, pay off a house, or do anything else that might have otherwise been impacted due to his/her death. Step 5 Portray the life insurance as an investment rather than as a cost. Show how investing a small amount of money each month could potentially pay a huge dividend in the case of an unexpected death. Characterize the price as an investment in peace of mind and the future of a person's loved ones. This appeals to his/her financial sense as well as her emotions. 23 | P a g e
  23. 23. Tips & Warnings People don't like to think about their own deaths, so when you are trying to motivate them to buy life insurance, avoid using words like "died," "killed," or even "passed away." Use euphemisms like "If you couldn't be there for your family" or "if you were suddenly taken away from your family" to make the subject matter more comfortable. A motive to buy…? “Wouldn't you like to improve your golf game so dramatically that you'll have your golf partners scrambling to keep up with you? Let me show you how to take at least 10 strokes off your total. By the end of the week, you'll drive the ball farther, hit amazingly accurate chip shots and putt like a pro. Here's how...” The power of LOVE What do love and life insurance have in common? More than you might realize. The motivation behind purchasing life insurance is love: We buy it because we love people and want to protect them financially. Think of it as the ultimate act of enduring love. Preparing a romantic dinner. Planning a surprise weekend getaway. These expressions of love are sure to be appreciated. But why not consider giving your loved one a more enduring gift of love: life insurance. What can say “I love you” better than a promise to provide for the ones you love, even after you‟re gone. Now if that does not motivate YOU… Now you're both armed and dangerous. 24 | P a g e
  24. 24. CASE STUDY 1 Look at the following advertisement for Miele Ovens. Once you have studied the advert, list the features, advantages and benefits. 25 | P a g e
  25. 25. CASE STUDY 2 MANIPULATORS Also referred to as end effectors or "tools". The manipulator holds the load while the operator transfers it. Available with power tilts and/or rotations. We offer vacuum cup style manipulators, carton handlers, mandrill style roll handlers, air-magnets and clamping style manipulators. These systems are utilised in all tiers of the Automotive Industry, Metal Fabrication, Food Processing and the Printing and Packaging Industries. JIB CRANES Column or wall mounted, the jib cranes are available with single or double articulating arms. Both arms allow for full 360 degrees of dexterity with the double jib allowing for manipulation anywhere inside the radius of the arm. The jib cranes are very easy to install and require a minimum of floor space. Ideal for short transfer applications. OVERHEAD SYSTEMS Ideal for applications where floor space is an absolute premium or a longer travel is required. The runway/ bridge system consists of an enclosed track aluminium rail. The trolleys are made of high- tensile aluminium alloy with precision-ground bearings and hard nylon wheels. A force of only 1-2% of the total weight being transferred is required. 26 | P a g e
  26. 26. GANTRY SYSTEMS All the features of an overhead system but floor mounted. Ideal for applications where longer travel is required but ceiling suspension is restricted due to heavy-duty overhead cranes or ceiling weight restrictions. AIR BALANCERS Ergonomically designed for accurate, effortless positioning of loads. Safe, quiet and require minimal maintenance. Use the information on Indutrol Inc. and draw up a table listing the Features, Benefits and Advantages of the product range. 27 | P a g e
  27. 27. FAB ASSESSMENT 1. Securing protection should be your primary goal when purchasing a Life Insurance policy. Is this a Benefit; Advantage or Feature? a. Feature b. Advantage c. Benefit 2. Life Cover (the Death Benefit) on a Life Insurance policy is a benefit. Is this statement True or False? a. True. This is the reason you take Life Insurance policy b. False. This is a feature of a Life Insurance Policy 3. Life Insurance can build a cash value which you receive at the end of the term of the contract. Is this a Benefit; Advantage or Feature? a. Feature b. Advantage c. Benefit 4. A Life Insured can cash in the policy (surrender) or borrow against the policy if they choose. Is this a Benefit; Advantage or Feature? a. Feature b. Advantage c. Benefit 5. A Life Insurance policy can create wealth for your beneficiaries. Is this a Benefit; Advantage or Feature? a. Feature b. Advantage c. Benefit 28 | P a g e
  28. 28. QUICK SALES ASSESSMENT 1. The best way to earn referrals from your customers is to ask a. As soon as you close b. As soon as you are sure they are satisfied c. As often as you can without being forceful 2. When you are fielding objections, you will have the most trouble when a. You are talking with the head of the company b. When the objection of your prospect is similar to your own private feelings about the product c. When the objection is about price d. When the objection is about the product 3. It is more challenging to sell on the telephone than in person a. True b. False 4. Verbal communication is more powerful than non-verbal communication a. True b. False 5. A successful salesperson almost always engages in small talk during their pitch a. True b. False 6. It is better to ask your prospects closed-ended questions (yes/no) rather than open-ended questions. a. True b. False 7. Your sales pitch will usually be better when it is a. Planned and Rehearsed b. Done on the Fly (off the cuff), Unplanned and Unrehearsed 8. Rolling up your sleeves and making cold calls is the best way to prospect. a. True b. False 9. The best thing to do when your prospect objects to your proposal is: a. Listen to what they are saying; they are telling you what assurance they need in order to buy b. Don't get discouraged; give testimonials of other grateful customers that had the same initial concerns c. Keep your focus on the product; a good product with great customer benefits will be the persuasive factor d. Back off; Throw in the towel if the conversation isn't going anywhere 10. Life Insurance makes savings possible. Is this a Feature, Advantage or Benefit? a. Feature b. Advantage c. Benefit 29 | P a g e
  29. 29. CASE STUDY 1: Model answer in this advertisement, the features, advantages and benefits are: Features: Fan forced cooking system, mini turbine, and ring heater element. Advantages: Cooking on up to three levels, hot air forced evenly through the interior. Benefits: Reduced cooking time, reduced energy consumption, perfectly even cooking results. 30 | P a g e
  30. 30. CASE STUDY 2: Model answer Pneumatically Operated - Means virtually maintenance free, intrinsically safe, ease of operation, quiet. Safety interlocks- Where applicable, safety interlocks are used on our systems. As long as there is a load on the lifting unit the load cannot be released even if air pressure is lost or if the operator were to depress the "load release switch". Custom Design- Your Indutrol system will be designed to meet your exact requirements. Our systems are not "off the shelf". Ease of Operation- Our systems are built with the comfort and safety of the operator in mind. Our representatives and designers will work hand-in-hand with you throughout the design process. After installation we will provide training for the operators of the system. A maintenance package is included with each system including visual and physical checks. An Indutrol representative will always be on hand to answer questions or provide on-site assistance. Indutrol's systems are highly effective in reducing injuries and can contribute to providing owners/managers with opportunities to reduce WSIB premium rates. Indutrol's systems can "free-up" hands normally used to transport large or heavy loads allowing managers to more effectively use their employees‟ time. 31 | P a g e
  31. 31. FAB Assessment Answers: 1. a; 2.b; 3. b; 4. b and 5. c Quick Sales Assessment Answers: 1. c; 2. b; 3. b (False); 4. b (False); 5. b (False); 6. b (False); 7. a; 8. b (False); 9. a; 10. b. 32 | P a g e

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