03 Mar Prospecting During COVID-19
Most prospects are very confused due to COVID-19. As a result, I believe that it’s a great opportunity for advisors to provide prospects with clarity, build relationships and build trust. As a matter of fact, it’s the perfect time to engage in more prospecting than ever before. While some advisors’ businesses are hurting, others are focusing on the opportunity that exists within the crisis we’re facing, and their business is booming.
Despite the quarantine, lockdown, and non-essential business closures, insurance is still being sold to those concerned with their peace of mind and security. In the traditional prospecting process, we follow the prospecting average of 40-6-2 of face-to-face prospecting. That is, talk to 40 new people per week, make 6 appointments and close 2 sales. Due to COVID-19, traditional prospecting became virtual prospecting, email prospecting and telephone prospecting, but we can still follow 40-6-2.
The New Normal
For the first time in over a century, we’re facing extremely challenging times in Canada and around the world, dealing with this awful pandemic. A lot of people are living with uncertainty, feeling the social, physical and economic impact like never before.
Selling life insurance and other products through telephone or internet non-face-to-face is now the new normal of doing business.
It’s important to adapt and maintain optimistic, as selling via non-face-to-face methods will keep you in-line with social distancing, staying safe and healthy, while simplifying the process.
As we take baby steps towards some kind of normal, it’s important for advisors to perfect their virtual business. Today’s normal will continue to be a part of the future normal.
Virtual Business
The insurance and investment companies have simplified the process for the advisors by creating their online business platforms. If you’re not on the virtual prospecting wagon it’s time to jump on and build your virtual platform, utilize social media and implement an email marketing software built for CASL in order to stay compliant.
Prospecting is the key to your success. If you can’t get in front of any prospects, then none of your other skills matter. If you can’t get in front of a prospect to present your product and or service, you won’t get an opportunity to sell. Prospecting is like a funnel.
Every salesperson has a prospecting average. It doesn’t matter what your average is, as long as you know it!
In my career I’ve worked with the 40-6-2 prospecting average. This average has worked for me, and as long as you have a great value proposition, it will work for you.
Quitting is not an option. If you want to succeed, then this average has to become your habit by doing it for at least 30 days non-stop or until the activity becomes a habit. If you want to double your sales, double your prospecting activity! Talk to more people…as simple as that.
4 Virtual ideas for prospecting and marketing
- Subscribe to a video communication platform (example Zoom)
- Subscribe to an e-mail marketing software
- Create your business social media pages
- Implement webinars in your business (single & groups)
To build your business strong, you must have a reliable, duplicatable (a process), scalable and consistent way to bring new potential clients into your business. Otherwise, you don’t have business, you have a side hustle!
