If you are a
relationship-oriented insurance agent, there are three essential elements to
making a sale. If you are missing one element, you either won’t make the sale
or possibly wish you hadn’t made the sale at some point in the future.
The three elements are Chemistry, Timing, and Money.
Chemistry is a rapport or a connection between you and the clients. Sometimes what you have in common is past history, mutual friends, or maybe you share similar values.
Sometimes the communication just seems to click. Chemistry is hard to define. It is different for everyone, but most people know when the chemistry is there or can learn to identify chemistry. The most significant impact of chemistry is that it usually leads to trust. And trust is what ultimately opens the door for the sale.
Of course, you can make sales without chemistry but if you are a relationship-oriented person, no chemistry usually means that the relationship is going to be an ongoing challenge.
Whatever negative characteristics the clients demonstrate early on will likely always be there. Usually, any negative characteristics the client has will be amplified when something goes wrong. Some salespeople have a greater tolerance for a lack of chemistry than others. Some will put up with almost anything.
I have seen situations where a single client made a person’s life a nightmare until the agent gets rid of the clients. If you have a low tolerance for clients whining and complaining, I highly recommend you don’t take on clients where the chemistry is not there, no matter how much money they have.
Many of my coaching clients have shared with me that limiting their clients to people they have chemistry with was a turning point in their career.
Another benefit of limiting your clients to those you have chemistry with is that they buy quicker, they buy more often, they will cut you some slack if you make a mistake, and they are much more likely to refer you to their friends.
My experience says chemistry is a big deal and to a great extent will determine the quality of your work life. Some would argue that limiting your clients to those you have chemistry with is required to have an ideal business.
Timing and Money are less complicated elements.
Timing simply means that the client has a current need for something you are offering. Money means that the clients have the financial resources to pay for the product or service you are offering.
So what should you do the next time you meet someone who has a need for what you are offering and has the ability to pay for it but the chemistry is just not there? You can take the client on but realize they could easily turn out to be a hassle.
If the Chemistry and the Money are there but the timing is off, keep track of those people because the timing will change at some point and those people can turn in great customers.
If you are new to the industry, I usually recommend you talk to anyone who will talk to you. This is the fastest way to learn whom you have chemistry with and who is going to be a lot of work for you.
Once you see how this psychological qualifying process works, you then have the challenge of deciding whom you take on as a client. Only you can determine how important chemistry is for your insurance practice and it is good to remember that this is not an exact science so you have to trust your instincts, which will improve with experience.
Also, please check out my new training program, the Build Your Practice Fast Academy and let me know what you think. This program can help you transform your practice/agency and learn from my years of experience and success, in which I created over 6 million customers.
MY MODULES are also available as INDIVIDUAL E-BOOKS. (Download the e-books here)