The Inner Game of Prospecting

Prospecting remains a critical skill for those wishing to succeed in the insurance and financial services industry, said Connie Kadansky in her educational workshop, “The Inner game of Prospecting: How to Overcome Sales Call Reluctance.” One survey found that 70.8 percent of advisors said they are getting most of their business through direct prospecting. Prospecting may be even more effective than in the past because not as many advisors are making calls, today, so prospects are getting fewer calls than in the past. People are getting educated online, but they are still going to a professional to buy insurance products.

Being a successful prospector means getting past the idea that self-promotion is a bad thing. Kadansky identified three critical behaviors for effective self-promoters:

• Position – make sure you get noticed
• Style – make sure they remember you
• Repetition – show up consistently

The biggest obstacle to successful prospecting is “sales call reluctance.” Sales call reluctance is an emotional hesitation to initiate contacts with prospects. People come up with excuses for avoiding the call: I don’t have time, it’s a bad economy, no one wants what I’m selling, I’ll make calls later.

Kadansky identified four steps to eliminating call reluctance:

• Aware – be aware that call reluctance happens.
• Assess – understand what type of call reluctance you have and how extensive.
• Admit that we are call reluctant
• Apply proven techniques

To work through these steps, Kadansky suggested that when you’re going to call, but stop – write down the reason to help you become aware of the problem and assess it.

Kadansky identified 12 types of call reluctance, and provided some details on the four most common in financial industry:

• Overpreparer – Some agents take too much time to get ready, putting off making calls by doing too much research. Aside from delaying calls, being over prepared doesn’t help. It’s usually better to keep it simple.
• Yielder behavior – Some agents are too worried about appearing pushy. However, you are an advisor and an expert – it is your job to ask questions.
• Role rejection – Some agents tell prospects, “I’m not trying to sell you anything.” Prospects know you are lying. You are selling, but it’s ok. You’re providing a service for a profit.
• Telephobia – use your senses to help you overcome fear. For example, some people are able to overcome their fear of making calls by smelling aromatic oils.