That's why you are necessary.

Oh, I’m sure the policies you sell to your customers do exactly what your carrier promises. In fact, I’m sure that they are products that you really believe are in the best interest of your customers. (If you don’t, change carriers!) But if you are selling Voluntary Benefits (VB) in the worksite market, let me disclose a dirty little secret: The insurance policies you sell won’t convince the business owner to allow you to meet with his employees.  In my almost 17 years of selling VB and leading large teams, my product has never closed a single deal.

The carriers started getting it a couple of years ago, even if you haven’t quite caught on. I can prove it. Have you noticed that every VB carrier has been pushing the quantity and quality of their value-added services? Last week alone, I received at least four emails related to the value-added services that my carrier (or one of their strategic partners) provide. Not one of these services allows the salesperson to earn a commission. During the same week, I didn’t receive a single email regarding the actual insurance products that provide all the profits for the insurance company.

I’m sure you probably have noticed the same thing. Did you ever stop and think about why this is true? It’s actually pretty simple: THE BUSINESS OWNER COULD CARE LESS ABOUT THE PRODUCT! 

Nine Reasons Business Owners Don’t Care About Your Product

1. The business owner has forgotten what it’s like to be an employee. – I’m not saying they are so wealthy that they won’t stop to pick up a $100 bill if one has fallen out of their pocket. But for the most part, they have lost touch with the idea of living paycheck-to-paycheck.
2. The business owner is genuinely busy. – Sure, if it’s not going to cause them any disruption, they might let you “sell something” to their employees. The minute you make their life more complicated though, they lose interest quickly.
3. They don’t believe their employees will buy it. – If you have been in this business more than 10 minutes you know that in the “widget manufacturing industry” we will enroll 60-80% of the employees in one or more of our programs. It doesn’t matter what you know. All that matters is what the business owner believes.
4. They believe their employees can’t afford it. – You have to remind the business owner that his employees have brainwashed him. Every day someone on his team lets him know they don’t make enough money. They deserve a raise! They can’t believe that the business owner had the nerve to pass on 8% of the 15% increase in major medical premiums this year. Yet they all drive late model cars, own toy-haulers (and the toys that go in them) and carry in $5.00 Starbucks drinks each morning. You have to convince the business owner that his employees can afford to spend $5-$15 per week on programs that are going to help them keep food on the table, gas in the car, and a roof over their head.
5. Very few business owners buy the products the first year. – They almost all buy year two. Because they are too busy, they often don’t sit through your employee presentation. Therefore they don’t have a clue how the products might benefit them. If that group has a decent claim during that first year, the word gets around (regardless of HIPAA). I can’t tell you the number of times that during the 1st-anniversary open enrollment a business owner has sat down with me and said something like, “What program did Mary Sue have? I heard you guys paid her $30,000. I need to get that!!”
6. He thinks your product is like everyone else’s. – And he’s probably more right than you’d like to admit. Most carriers offer great products. Quite frankly whenever someone comes out with an innovative new product the rest of the industry quickly follows. Don’t waste your time explaining how your Critical Illness plan is better than everyone else’s. Even if it’s true, there is a good chance that another carrier is going to beat your benefits and price soon.
7. WIIFM? – Ultimately all the business owner wants to know at the end of the day is, “How does this make my life easier?” You had better be ready to answer that question from the moment you try to set the initial appointment. You must continue to beat that drum and carry that message forward during your ongoing service of them 10 years from now.
8. They hate change. – So do most people. I learned this lesson early on in my career. After explaining everything my company and I could do for his business, the business owner said to me, “Listen kid, I’ve been in business for 35 years and I’ve never used your product. And you know what? I’ve made a profit every single year, thank you very much!” (I’d like to tell you how brilliant I am and how I overcame his objection. But I think my response was something like, “Ummmmmm o.k. Please don’t hit me, I’ll leave peacefully…..”
9. No sense of urgency. – Even if they agree that it would be a good idea for their people to own your coverage, that isn’t a compelling enough reason to move forward. If you are like me, when you were being recruited you probably had this conversation with your spouse/significant other, “I can’t think of a reason why a business owner would ever tell me no. I mean it doesn’t cost him a penny. He looks like a hero to his employees. He strengthens his benefits package which helps him attract and retain better employees. He stays out of the loan business. And best of all, he drives some money to his bottom line by lowering his payroll taxes.” Remember that conversation? I still have that conversation in my own mind almost daily. How’s that working for you? ………..Yeah….me too….sigh. Just because there is no reason not to do business with you, doesn’t mean that you have shown there is a compelling reason to move forward. (Tweet That)

Conclusion: I don’t know what value-added services your carrier provides, but my suggestion is that you had better know. You had better build a list of questions to ask business owners that will uncover the needs he has that your value-added services can meet. If you think that you can go “Show Up and Throw Up” about how awesome your Accident policy is, you are in for a rude awakening. Hopefully, he will be as blunt as the guy who told me he’d been in business for 35 years. At least then you will know you need to change your approach. My guess is they won’t be that blunt. Instead, you will probably hear something like, “Geez, you have given me a lot to think about. I’ll get back in touch with you in the next couple of weeks.” Yeah, don’t wait by the phone.

Question: Are you ready to stop “presenting” and start selling? If so, schedule a 30-minute coaching call with me by clicking the link below. The first one is free. During the call, I will teach you my top 5 questions to get the business owner to admit he and his employees need you!!!