There is little doubt that the way that financial services is being delivered is changing. The trend is more companies are seeing opportunities in social media platforms such as Facebook, Twitter and Linkedin and for good reason. Statistics show today that according to Pew research in their report in March/2018, 68% of all U.S. adults are on Facebook and 74% of those same adults are accessing it 8 times a day. They’re on there continually and this is a great opportunity for those who understand this and take advantage of it by advertising and attract them.
Considering this growing dynamic, it is apparent to any who understand this trend that advertising is to their advantage and getting to the customer before your competition does in paramount. It also important to point out that we are still in infancy with social media as compared to print media which had been in existence for hundreds of years and TV and Radio that has decades of experience. But make no mistake, social media is a dominant force that is continue to grow and expand and if you aren’t there, you will lose.
We must also realize that more individuals, especially generational people that have grown up in a social media environment are not only more accepting of social media content but also in how they interact with it. It is not uncommon to see people becoming more familiar with virtual meeting spaces such as Facebook, Youtube, Skype and GoToMeeting. They are becoming more accustomed to these environments and feel more comfortable in building relationships on a virtual basis.
Observing business people who understand these trends see them as opportunities to build a virtual business online. There is however some exception to this as we see insurance agents still lacking behind in the available technologies that people are going to. This is due primarily in fact I believe is to the continued traditional model in which agencies are training their agents on how to prospect, conduct appointments and close for sales. In the world of virtual sales, you could just as well kiss that old playbook goodbye because that old style training simply does not apply.
In the virtual sales environment, you need to recognize that the prospect your are talking to is more than likely going to do internet searches to research anything and everything you are saying to them. But the one thing that you still have going for you is that they still crave for a relationship and they generally don’t want to have to become experts in the fields of life insurance insurance planning and retirement options. They would still rather have some basis of education and knowledge and an expert that they can develop rapport and trust that will bring that knowledge to them to help them in their decision process. I personally subscribe to this philosophy and believe that a person that buys from you is much more preferred customers over one that is you sold to. So what is the difference between the two?
Being sold to is old school sales. You are reading body language, using closing techniques and clever tricks in some cases, to put pressure to have someone sign on the dotted line. There is a higher of probability of buyers remorse after you leave and often times, you may have to talk to the customer to convince them once again that they are making a good purchase.
Buying sales are much different. It is more of a consultative and educational experience that customer is looking for as well as having a trusted relationship with the agent they are working with. It is not unusual that this process takes a little more time but when conducted properly, the customer is buying from you and feeling real good about it. They feel empowered, more educated and generally have a greater trust factor in the agent who is patient enough to help them through the decision process. These types of buyers generally have a higher persistence and less of a headache when it comes to servicing.
Agents who understand the philosophy of a more consultative type relationship are perfectly set for the process of doing a virtual sale and also virtual recruiting. They tend to be more hands on and more meetings but when you consider the alternative of spending time driving in a car and putting wear and tear on it, the trade off actually becomes very acceptable. If you accept this, then it is only a matter of what processes have you put in place to help the sales and recruiting process and in building the relationship.
Over the past 4 years, we have spent time and money developing about the processes and tool to create the virtual sales process. It is something that anyone can do if they choose to. This platform is part of the MyAgentSays sales system available today for all the agents in our group. The next step is yours. You are the one buying into it. We will help you with each and every step.
So when are you going to get started?
Recent Comments