1. Eliminating Objections in the Sales Process

2. Common Objections Can Be Overcome: Know the CUSTOMER’S perspective –What does the customer want? –What will make them choose you? –Customers want value, solutions to problems, and no hassles or mistakes How are you going to provide these things? Know the CUSTOMER’S perspective –What does the customer want? –What will make them choose you? –Customers want value, solutions to problems, and no hassles or mistakes How are you going to provide these things?

3. Objection 1: Prospect has a long-term relationship with their current broker –“We’re happy with who we are working with now and aren’t interested in changing” –“Our current broker is a close friend of mine and/or the owner” Prospect has a long-term relationship with their current broker –“We’re happy with who we are working with now and aren’t interested in changing” –“Our current broker is a close friend of mine and/or the owner”

4. Objection 1: Probing Questions What is your relationship with your current broker? What are your expectations of your broker? –Are these expectations being met? What value are you getting from your current broker? Do you know how much revenue your current broker makes on your business? What is your relationship with your current broker? What are your expectations of your broker? –Are these expectations being met? What value are you getting from your current broker? Do you know how much revenue your current broker makes on your business?

5. Objection 1: Strategic Approaches Acknowledge their current broker, then ask targeted questions to create doubts Educate them on value-added services Explain the process of changing brokers and how you can assist Offer to consult on a specific project of theirs Acknowledge their current broker, then ask targeted questions to create doubts Educate them on value-added services Explain the process of changing brokers and how you can assist Offer to consult on a specific project of theirs

6. Objection 1: Recommended Templates MyWave Sell Sheet Broker Comparison Marketing Brochure Agency Consulting & Brokerage Services Trifold Brochure Agency Overview Presentation Zywave Sell Sheet MyWave Sell Sheet Broker Comparison Marketing Brochure Agency Consulting & Brokerage Services Trifold Brochure Agency Overview Presentation Zywave Sell Sheet

7. Objection 2: Price –“We take the lowest bid” Price –“We take the lowest bid”

8. Objection 2: Probing Questions The price to you is the same regardless of who you work with — why not get more for the money you are spending? What value is your HR person getting for this price? Property & Casualty business — what is your total cost of risk and what is your current broker doing to help with it? The price to you is the same regardless of who you work with — why not get more for the money you are spending? What value is your HR person getting for this price? Property & Casualty business — what is your total cost of risk and what is your current broker doing to help with it?

9. Objection 2: Strategic Approaches Sell the expertise and experience of your account team Sell your value-added services and resources before presenting proposal/rates Offer program/coverage review and alternatives Sell the expertise and experience of your account team Sell your value-added services and resources before presenting proposal/rates Offer program/coverage review and alternatives

10. Objection 2: Recommended Templates Benefits: –Benchmark Surveys and Statistics –Benefits Statement –Health Care Cost Series –Wellness Program Work Plan –Strategic Benefit Plan Action Timetable –Employee Handbook Benefits: –Benchmark Surveys and Statistics –Benefits Statement –Health Care Cost Series –Wellness Program Work Plan –Strategic Benefit Plan Action Timetable –Employee Handbook

11. Objection 2: Recommended Templates P&C: –Safety Audit Coverage Evaluation Checklist –ERM –RPS –Loss Control Evaluator/Total Cost of Risk –Additional Sales Required to Offset Claims Costs P&C: –Safety Audit Coverage Evaluation Checklist –ERM –RPS –Loss Control Evaluator/Total Cost of Risk –Additional Sales Required to Offset Claims Costs

12. Objection 3: No, everything is fine –“Too busy” –“Not a priority” No, everything is fine –“Too busy” –“Not a priority”

13. Objection 3: Probing Questions How about a breakfast or lunch appointment? Do you have costs under control? If so, I’d like to pick your brain. No one else seems to have the answer. When was the last time you compared broker services? When is a better time for us to talk? How about a breakfast or lunch appointment? Do you have costs under control? If so, I’d like to pick your brain. No one else seems to have the answer. When was the last time you compared broker services? When is a better time for us to talk?

14. Objection 3: Strategic Approaches Get the decision maker or other referral to make the introduction State the amount of time the meeting will take (20-45 minutes) or ask how much time they have Provide “leave behind” materials Get the decision maker or other referral to make the introduction State the amount of time the meeting will take (20-45 minutes) or ask how much time they have Provide “leave behind” materials

15. Objection 3: Recommended Templates Broker Comparison Marketing Brochure Zywave Sell Sheet or Sell Sheets for individual products Strategic Planning Continuum Broker Comparison Marketing Brochure Zywave Sell Sheet or Sell Sheets for individual products Strategic Planning Continuum

16. Objection 4: Too Big/Too Small “I only work with top national brokerage firms due to our size and complexity (multiple or international locations)” “We’d be a small fish in a big pond with your agency” “I only work with top national brokerage firms due to our size and complexity (multiple or international locations)” “We’d be a small fish in a big pond with your agency”

17. Objection 4: Probing Questions What services are you currently receiving? Why do you think we are too big/too small for your business? It’s interesting that you say that we are too small/too big — we also hear the opposite comment. What services are you currently receiving? Why do you think we are too big/too small for your business? It’s interesting that you say that we are too small/too big — we also hear the opposite comment.

18. Objection 4: Strategic Approaches Too Big: –Base your approach on their response –Explain agency partnerships (Zywave, Assurex, Intersure, etc.) –Detail internal resources available –Use large client references –Define services/expectations up front Too Big: –Base your approach on their response –Explain agency partnerships (Zywave, Assurex, Intersure, etc.) –Detail internal resources available –Use large client references –Define services/expectations up front

19. Objection 4: Strategic Approaches Too Small: –Provide statistics on average agency group size or number of groups in each market segment –Explain ratio of accounts vs. account manager to emphasize individual service –Discuss agency structure, explain how different teams have different specialties Too Small: –Provide statistics on average agency group size or number of groups in each market segment –Explain ratio of accounts vs. account manager to emphasize individual service –Discuss agency structure, explain how different teams have different specialties

20. Objection 4: Recommended Templates Agency Overview Presentation Zywave Partnership Map Strategic Action Timetable Agency Overview Presentation Zywave Partnership Map Strategic Action Timetable

21. Objection 5: Going Direct “We don’t need a go-between. We prefer to handle negotiations directly”

22. Objection 5: Probing Questions Who is watching out for you? Do you go direct in other cases and if so why? What is on your “to do” list that you could attend to if you didn’t have to handle your medical and/or business insurance purchases? Who is watching out for you? Do you go direct in other cases and if so why? What is on your “to do” list that you could attend to if you didn’t have to handle your medical and/or business insurance purchases?

23. Objection 5: Strategic Approaches Detail consultative services that going direct doesn’t provide –Claims analysis via RALLE or DMW Offer a one-time consulting project Describe compliance assistance –Legislative Updates –Online OSHA log –Legislative Guides Detail consultative services that going direct doesn’t provide –Claims analysis via RALLE or DMW Offer a one-time consulting project Describe compliance assistance –Legislative Updates –Online OSHA log –Legislative Guides

24. Objection 5: Recommended Templates Agency Consulting & Brokerage Services Trifold Brochure The Value of Hiring and Employee Benefits Broker P&C: Value R Solutions Agency Consulting & Brokerage Services Trifold Brochure The Value of Hiring and Employee Benefits Broker P&C: Value R Solutions

25. Objection 6: Not Stated “We’ll listen if you can get us a better deal” “I don’t believe your agency can do anything different for us than our current broker is already doing” “Doesn’t using a broker cost me money” “We’ll listen if you can get us a better deal” “I don’t believe your agency can do anything different for us than our current broker is already doing” “Doesn’t using a broker cost me money”

26. Objection 6: Probing Questions What are your expectations of a broker? Are these expectations being met? What value are you getting from your current broker? Do you know what they make off of your business? What are your expectations of a broker? Are these expectations being met? What value are you getting from your current broker? Do you know what they make off of your business?

27. Objection 6:Strategic Approaches Describe agency capabilities –Knowledge –Book of Business –Exclusive arrangements (carriers, markets, associations) Encourage them the conduct broker interviews Explain philosophy regarding price vs. value Describe agency capabilities –Knowledge –Book of Business –Exclusive arrangements (carriers, markets, associations) Encourage them the conduct broker interviews Explain philosophy regarding price vs. value

28. Objection 6: Recommended Templates Broker Comparison Marketing Brochure Agency Consulting & Brokerage Services Trifold Brochure Agency Overview presentation The Value of Hiring a Broker Risk Management Consulting and Brokerage Services Broker Comparison Marketing Brochure Agency Consulting & Brokerage Services Trifold Brochure Agency Overview presentation The Value of Hiring a Broker Risk Management Consulting and Brokerage Services

29. You Can Eliminate Objections! Ask probing questions — what does that customer want? Address their issues via your presentation Dialog with the customer on their issues and how you can help them Close the sale! Ask probing questions — what does that customer want? Address their issues via your presentation Dialog with the customer on their issues and how you can help them Close the sale!