Client Focused Marketing Module VII Conserving the Account

Objectives u Know the value of a full policyholder information tank. u Understand the value of repeat sales u Know the way to stay in touch with clients u Understand Client Focused Marketing Program never ends.

Policyholder Information Tank Q. What is the policyholder information tank? A. A database of quality prospects that enable an agent to build future business. Q. What can you do to ensure your policyholder information tank is full? A. Referrals, Prospect, Xdate, Direct Mail.

Policyholder Information Tank Q. What tools and skills are essential for filling and maintaining a policyholder information tank? A. Master filtering skills to produce quality business. A. Use a productive record keeping system. A. Use well established reliable re - contact methods.

Policyholder Information Tank A. Start up a conversion program and keep it in constant operation. A. Maintain continuous, consistent, follow up with policyholders and clients. A. Provide quality service to clients.

Six tools to help keep track of the working capital in the policyholder information tank. u Franklin Planner. u 31 day expandable file. u January through December expandable file. u Client Service Folder u Confirmation u ClientVision / Fame/ Comparable Database

Policy Conservation Q. What do we mean by the term policy conservation? A. Repeat sales in the same household.

Policy Conservation A. Holiday method. A. FFR A. Client referrals. A. Service A. Follow up at referral. A. Send articles. A. Thank you notes. A. Regular mailing program. A. Become a reference source. A. Customer satisfaction survey. Q. How can you stay in contact with these households?

Review the System

Summary Q. What will you do to become proficient with all the skills and techniques you have learned? Q. How can you make time to continually enhance your skills? Q. What will you do with this system? Q. What are your expectations of the District?

Career Requirements - Concerning CFM 1.Complete all Modules of C.F.M. 2.Acceptably complete the Pre-Career Conversion Field Underwriting Exam. 3.Complete a minimum of 10 Client-Service folders. 4.Memorize the Positioning Statement.

Complete CFM Exam Estimated time: One Hour

CFM Final Exam MODULE I 1.Which of the following are not steps in proper goal setting and goal getting? a) Self-assessment b) Building your dream list c) Identifying the obstacles to achieving your goals d) Establishing this year’s wish list e) All of the above 2.From the Agent’s point of view, which of the following are among the advantages of Total Account Cross-Selling? a) Insulation of clients from the competition b) Better life insurance persistency c) Higher retention rate of cross-sold accounts d) Better closing/completion ratio e) All of the above 3.The three elements of the power triangle are _______________, _______________, and _______________. 4.Time is a _________________________. 5.To free yourself to make sales, you must learn to ________________ part of the workload to others. 6.T or F : The seven steps to mastery are discovery, repetition, memorization, information, internalization, discipline, and consistency. 7.T or F : As a rule, cross-sold clients require more service work per policy on the part of the Agent.

8.T or F : When we say “pay now or pay later,” we mean investing the time and resources to build the foundation for a career or suffer the consequences later in the career. 9.Define: Leveraging time: __________________________________________________________________________________________. 10.Define: Multi-line: _______________________________________________________________________________________________. 11.Define: The Triple Win: ___________________________________________________________________________________________. MODULE II 12.An experienced Agent can be compared to: a) a nomad. b) a hunter. c) a farmer. 13.Relaxed, total account cross-selling is a _______________________ process. 14.Activities that are done ____________________ and ________________ yield results. 15.What are the four categories into which all activities fall? _________________________________________________________________. MODULE III 16.A tie-down is: a) the same as a completion. b) a vital part of nonverbal communication. c) attached to the end of a sentence. d) a statement or question to obtain agreement. e) what you do to your child after he/she acts up in public CFM Final Exam

17.Which of the following are the key steps in helping the customer think of names of referrals? a) Leading the customer’s mind to the appropriate office. b) Directing the customer’s thoughts to specific departments. c) Calling up the correct software in the customer’s mind. d) Encouraging the customer’s mind to go to a specific filing cabinet. e) Helping the customer’s mind select the appropriate file drawer. 18.Two excellent times to obtain referrals from existing policyholders are at ________________ and ________________ claims handling. 19.When you leverage the _________________, you prospect in high-probability areas and greatly improve the outcome of your prospecting efforts. 20.Rather than use the words quote or bid, you should use _________________ or ________________. 21.T or F : You can never use a tie-down too often. 22.T or F : Signals of prospecting opportunities are events and changes such as financial improvements, decreased responsibilities, and decreased satisfaction. 23.T or F : Good product knowledge permits discovery of more problems and opportunities, which leads to increasing results. 24.What are two subtle techniques for obtaining referred leads? ____________________________________________________________ ___________________________________________________________________________________________________________________________.

CFM Final Exam MODULE IV 25.Which of the following forms part of the objective of the acquisition interview? a) To master effective communication skills b) To set the stage for making a right first impression c) To set the stage for completion of the client service folder and additional sales d) To make the first sale e) To make the buyer feel at ease 26.According to a survey, what do buyers want from their insurance Agents? a) The best price for the least money b) Assistance in making a decision c) Creative ideas d) Businesslike presentations e) Prompt, courteous service 27.Which of the following are not reasons that people buy? a) Price e) Want b) Timingf) Bargains c) Confidenceg) Urgency d) NeedH) Trust

CFM Final Exam 28.What four questions must the Agent help the prospect answer before requesting the sale? a) What’s the correct spelling of your name? b) What’s the problem? c) What’s the right source? d) What’s the purpose of disability insurance? e) What’s the relative value? f) What’s the solution to the problem? g) What’s the value of your home? 29.Rate the following descriptions of presentations as C (Correct) or M (mistake). _____ 1. Jim looked his client in the eye as he began the presentation. _____ 2. Gabriel read his presentation word for word to overcome his nervousness. _____ 3. Pat scheduled three presentations on the same evening. _____ 4. Leroy focused on the main issues and made sure they had all been covered well. _____ 5. Kim expressed his points in simple, easy-to-understand language. _____ 6. Al sat between the two clients so they could both see the visuals. _____ 7. Borris assumed that the prospects didn’t want to buy but were being polite. _____ 8. Jesus packed all the presentation materials in his red briefcase. _____ 9. Ed held the interview in the client’s dining room. _____ 10. Frank opened by presenting the prospect with a neatly typed agenda of discussion.

CFM Final Exam 30.___________________ is a transfer of feelings. 31.After the acquisition sale has been completed, the chance of losing the household is great if another sale is not made within __________________, known as the at risk period. 32.It usually takes a person no longer than five _________________ decide not to buy from a salesperson. 33.Selling more insurance is to stop selling insurance and start … ________________________________________________________________. MODULE V 34.In using the relaxed filtering approach to selling, the greatest percentage of time is spent: a) completing and confirming b) information-gathering/filtering c) prospecting d) making a presentation e) preparing a presentation 35.Remind yourself to ask for _______________________ at the end of the diagnostic filtering interview by putting two or four ___________ in the client service folder. 36.T or F : It takes time and effort to destroy the trust that an Agent has built with a client; that is why about 90% of repeat sales are the result of trust. 37.T or F : Utilization of the client service folder helps develop a strong, personal link between an Agent and the prospect, policyholder, or client.

CFM Final Exam MODULE VI 38.Consultative selling is a) realizing that the acquisition sale is the least profitable. b) presenting ideas and products that will result in a problem-solving, goal directed sale. c) presenting visuals and plans that result in impressing and convincing the client. d) the difference between an effective and ineffective presentation. e) None of the above. 39.More than 90% of a person’s decision to buy is based on the Agent’s use of __________________ to complete the transaction. 40.When it is time to sign the paperwork, ____________________ should sign first. 41.Give three examples of a closed question: ______________________________________________________________________________________________________ 42.How would you handle the objection, “I can’t afford the insurance?” ______________________________________________________________________________________________________ 43.How would you handle the objection, “I have group insurance at work?” ______________________________________________________________________________________________________ 44.How would you handle the objection, “I would like to think about it?” ______________________________________________________________________________________________________ 45.How would you handle the objection, “Can you mail me the information?” ______________________________________________________________________________________________________

CFM Final Exam MODULE VII 46.Which of the following are among the ways to conserve policies? a) Year-round jogginge) Follow-up at renewal time b) FFR’sf) Social activities c) Outstanding serviceg) Continuing education and growth d) Client referralsh) Regular mailing program 47.Which of the following statements are not true about the lessons taught in Farmers Client-Focused Marketing Program? a) Mastery is an ongoing process. b) The buyer-seller feud is an abnormal emotional issue that you will rarely encounter. c) Total Account Cross-Selling is a win-lose situation: the client wins and you lose. d) Prospecting/pumping is an essential, everyday activity. e) Closing the sale is much easier when the Agent masters all the presentation pitches. f) Invest the time to build a solid foundation for your career now or pay the consequences later, and it usually costs more later. g) True professionals never stop growing, learning, and improving themselves. h) It is important to be concerned, caring, sincere individual but not if these qualities negatively affect the bottom-line. 48.A ___________________ is a very effective way to establish a regular mailing program. 49.T or F : Making the second or third sale to the same household is much harder than the first.

CFM Final Exam 50. Complete the Diagram below:

CFM Final Exam - Answer Key 1. D 2. E 3. why, what, how 4. resource 5. delegate 6. F - Discovery, visualization, repetition, utilization, internalization, discipline and consistency. 7. F - Require less service per policy, therefore, your return on energy/equity is higher per household. 8. T 9. Doing multiple things at one time. 10. Multiple products and services that help people meet their insurance objectives. 11. Agent, client and Farmers win. 12. C 13. Seamless 14. correctly, often enough 15. important and urgent; important - not urgent; urgent - not important; neither urgent nor important. 16. C, D 17. D, E 18. policy delivery, satisfactory

CFM Final Exam - Answer Key 19. law of averages 20. comparison, illustration 21. F 22. F 23. T 24. Expecting to get referrals, giving the persons mind a reference. 25. C, D 26. B, C, E 27. A, F 28. B, C, E, F 29. C, M, M, C, C, M, M, M, C, C 30. Selling months 32. seconds 33. solving problems. 34. B 35. referrals, referral cards

CFM Final Exam - Answer Key 36. F 37. T 38. B 39. nonverbal communication 40. you/the agent 41. review responses - accept appropriate answers 42, 43, 44 and same as above. 46. B, D, E, H 47. B, C, E, H 48. newsletter 49. F 50. River of Leads, Prospect Pumping Station, Prospect Holding Tank, Prospect Filtering Plant, Policyholder Information and Scheduled Presentations.