Car dealerships have always been one of the best illustrations for a pure numbers game. My father-in-law is a car man and I’ve always admired his awareness of the daily numbers. So we talked about a principal and an application in his business that illustrates it so well. 

This industry has traditionally put some of their brighter sales professionals at the finance and insurance desk. “F and I” as it’s called is one of the places they can up sell. Not unlike our business, up selling plays a significant roll in their bottom line.  The brightest and the best sales people have always, very skillfully, established a friendly relationship with the clients, built some credibility, identified “hot buttons” or areas of potential interest, presented products and worked to move people to action and the average take on that activity was three hundred and some odd dollars; $380 I think it was.  

Along came technology mixed with psychology and another illustration of a marketing principal was demonstrated.  An enterprising company had developed an interface; a program we’ll say. Instead of going into another office with the best-dressed salesman, clients are offered a touch screen monitor with a program that walks them through an “add on” product list. Things are asked in the right way and after every “No” answer, the client is asked to confirm their answer or say “Yes”. For example, he turns down the undercoating protection and the next question might read, “So you understand that the underneath of your car could rust?”  Very simply, they were offered every option, and were given a chance to change each “No” answer. 

The average up sell per customer went to $950.  

Offer 100% of the people 100% of the options 100% of the time and it will out perform even the best sales people. Put the two together and you’d really have something – but even if you don’t sell, you simply offer 100% of the options to 100% of the people 100% of the time – sales might nearly triple. 

>> 

Offer the AIG American General 30 year Return of Premium Term on a monthly mode (no modal factor) to every client. Remember, the 30 year ROPT is cheaper than the 20 year. “We can lock it in for 10 more years AND we can get all the premiums back!” 

Offer simplified issue products to all those who would qualify. Products available for up to $250,000 without a medical and they get issued quick…Quick issue means quick commission payments too.  Plus, they take a long time, it can generate an MIB hit to get declined or rated by another carrier and hek, they may just appreciate the convenience. “Would you like the type of insurance where you have to take an exam or the kind where you don’t have to take an exam?”  

Practice all up selling offers…10 more years; 10-15 x Income, Spouse. 

Waiver of premiums? Child riders?  

Remember the point is to offer 100% of the options to 100% of the people 100% of the time.  We don’t think for a moment that all your prospects will go for this – we know, rather, that SOME of your prospects will. If you up sell one person a day – it’s a SIGNIFICANT difference to your bottom line. 

“I’d be doing you a disservice if I didn’t tell you all of your options…” 

So you don’t even have to get all caught up in selling here on this point. It’s more a matter of systems, processes and habits. You don’t get down when folks say no, you’re just looking for all of those that will say yes. To do this most effectively, we offer all the people, all the options, all the time.

>> 

One of the top sales guys I’ve met in the industry…with Guardian, I believe, in Tallahassee, FL - broke all sorts of National selling records, Top of the Table and all that jazz. He was a member where I was golf pro’ing and so we met. When I got into the business I remember thinking, “Who would buy from this guy?” but one could not ignore his numbers and so I asked him how he sold so much. He said, “When people ask me what I do for a living I say ‘I sell Life Insurance, can we talk about yours?’  Then, and a key here, he talked to lots of people.  That’s it…He offered all the people all the opportunity to work with him all the time. Not the sharpest tack in the box, in fact one of the dullest, and he was top of the table simply because he asked everyone he met for 25 years.  

I’m tellin ya if you will just answer the question “What do you do?” with “I sell good, cheap term life insurance. Would you like some?” you would make some sales. Try it 15 times, I bet you’ll make a sale. 

Ours is a volume business and designing your system to offer 100% of the options to 100% of the people 100% of the time will yield tremendous results.