How to avoid snatching defeat from the jaws of victory.
The post-sale period between the Presentation Meeting and the Delivery Meeting is sensitive and must be managed carefully. Even after the product has been delivered, or a plan has been installed, many producers make a point of contacting clients informally several times a year, in addition to regularly scheduled plan reviews, and other routine service contacts.
Reducing or Eliminating "Buyer's Remorse"
To prevent a fatal case of buyer's remorse from ruining your day, follow through with applicants in several ways.
Try this!
- At the end of the Presentation Meeting, tell your applicants about how long it takes to issue the product.
- Many advisers send handwritten "thank you" notes after a sale. Hand-address the envelopes and use commemorative stamps instead of metered postage. If appropriate, mention other needs you can address in the near future, and suggest a date and time for this meeting.
- Some advisers call the day after the sale was made and the application taken and ask, "How did you sleep last night?" If the client says, "Great," or has a positive response, the sale is cemented. If, on the other hand, the response is, "Not so good," or "I kept tossing and turning most of the night," or other words to that effect, then the sale may not be quite so secure, and the agent may want to offer additional reinforcement of the benefits of his or her action to enhance his or her personal financial security needs and wants, and perhaps, schedule another meeting to review those benefits.
- Keep applicants informed about the progress of the underwriting process or product issue. Act quickly if the underwriters request additional information. Call, e-mail, fax, or write the applicant for this information, as appropriate.
- Don't overlook a chance to communicate with new clients about "value added" non-business matters. For example, you spent several minutes discussing the prospects' hobby — race walking. The next week you see a magazine article about a race, or recall a passage in a book you once read, about the sport. Send a copy of the article or passage with a note saying, "Thought you might enjoy this!"
- If a client has given you on-profile referrals, or introduced you to prospective clients, let him or her know the results. In addition to being a matter of courtesy, this practice can lead to additional names.
- If your prospect owns a business, see if you can help by referring customers or vendors, or by using his or her services yourself.
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