Andy Neary says insurance producers stuck in the old activity-driven sales cycle are losing. The traditional approach: blast suspects with calls and emails, get them to take a meeting, then push for a quick close. That model doesn't work anymore.
Chapters
Well, to understand this, we gotta go back and look at the outdated version of the insurance sales cycle, which far too many producers are still trying to leverage today. If you think about the sales cycle in the insurance industry as it has existed for decades, I would argue that it has been pretty basic. You know, when you look at the insurance cycle that I was taught under 25 years ago, it really came down to this. You got a list of suspects are people who don't know who you are, they don't know you exist. And your number one objective is to take a suspect and make them a prospect as fast as you can. And the bridge between suspect and prospect back in the day was purely activity, right? It was calls, emails, heck, when I started my career at Federated Insurance, it was parking my car in an industrial park and going door to door. And that was the goal. You wanted to use activity cold outreach to simply turn a suspect into a prospect as quickly as you could. You didn't know if they were a good fit or not, but it was C suspect, sell suspect right now when you had success and you did turn them into a prospect. In my opinion, the definition of a prospect is at the point they accept an appointment with you, they accept a meeting with you, then they become a prospect. At that point, your job was to turn them into a sale as quickly as you could.