In this video, we provide an insurance cold call example. After the call recording, we review the call to share our opinion on what the salesperson did well and where there were areas for improvement.
Value Proposition Cold Call Opener
In this insurance cold call example, the salesperson does a good job by opening the call with his value proposition by saying:
We help companies to avoid financial damages when a data breach occurs to their system.
This is good and different from what most salespeople do because most salespeople use more of a product intro cold call opener by stating or explaining what they sell, which is more likely to trigger the prospect’s guardedness. Opening with your value prop can be better because not only does it help you to build interest and curiosity, but it can also decrease the amount of resistance you face.
Product Introduction
The prospect then asked for more clarity or information, which is very likely after a value prop cold call opener. And the salesperson answered this by saying:
When someone tries to hack into your system to steal credit card data, employee data, or any type of customer data. We provide coverage to cover you so you won’t be liable if anything happens.
This was a nice part of this insurance cold call example because the salesperson did not go into a deep explanation of the product he sells. He very effectively used a short example to provide a very clear explanation.
Sales Takeaway
After sharing the value prop and product details, the salesperson then performed a sales takeaway by saying:
Not sure it is a fit.
If you have a few minutes, I had a couple quick questions.
This is extremely powerful because in this split moment, you are doing the exact opposite of what most salespeople do. Most salespeople are going to introduce the product and then ask you if you need it or try to sell you on it. When you do the sales takeaway, you are doing the opposite of that by expressing doubt if the prospect needs or fits with what you sell. This can not only help to build interest and curiosity, but it can also help to decrease the prospect’s guardedness because it shows that you are not going to try to push something on them.
First Sales Objection: Not Interested
The first sales objection in this insurance cold call example was the prospect saying something along the lines of “not interested.” The salesperson did a good job by deflecting the objection by asking questions like:
Do you accept credit cards?
Do you keep customer and employee data on file?
Would you be convered someone were to hack in?
This is nicely done because the salesperson does not need to change the prospect from not interested to interested. More so, he first needs to just keep the call going, and after that, he needs to try to get to the next sales process step, which is simply talking more and deflecting to questions, which helps with both of those.
Second Sales Objection: Never Happened
The second sales objection on this insurance cold call example is the prospect saying it has never happened to me. This is a very important objection to be ready for when selling insurance because you are usually selling coverage and protection for events that have never happened. This salesperson handled this very well by deflecting to examples of where the problem occurred by saying:
This is going on a lot these days. It happed to Michael’ craft store where credit card data was stolen and Sony Play Station Networks had user data stolen.
Stayed Focused on the Next Sales Process Step
Another thing that was done well on this insurance cold call example was that the salesperson stayed laser-focused on the next step in the sales process, which is simply talking more and having a conversation, and he did that by saying:
I am not trying to sell you anything at this point.
Just trying to get people aware of what is going on.
To talk with you for 10 or 15 minutes.
It can be easy to try to focus more on getting the prospect to purchase or validating if the prospect needs or wants the product. But the reality is that when you are first interacting on a cold call, the next step of the process is to simply talk more and have a conversation, and you can improve your objection handling and closing by staying more focused on that goal and sales process step.
We hope this insurance cold call example provides you with some new ideas for how to improve your cold calling efforts!
