Dynamis Blog

Do Your Research to Help Win the BOR

Posted by AndyNunemaker on Jan 25, 2016 7:00:00 AM

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In our last blog, we talked about strategies for grabbing a prospect’s attention and securing an initial conversation. Before you get to that final presentation, it’s important to set the stage for success; this blog will overview how to keep a prospect’s interest while laying a foundation for the win.


Two steps for success

This stage in your sales process consists of two parts that are executed simultaneously. First, you want to gather as much information about the prospect, their business and their existing broker as possible, which will help you create a persuasive presentation to close the deal. As you do this, you want to keep the prospect interested in your agency so that they proceed to that final step in the sales process. In other words, you don’t want to make it too much of an interview that they lose interest and turn down a final meeting.

How do you strike this balance? As you ask questions to learn more about the prospect, do it in a way that keeps the pressure on the incumbent broker and illustrates your expertise and capabilities. For example:

  • As you are asking about their past renewals, probe into how happy they have been with their experience and try to find areas where their broker has lacked (that they may not have even realized).
  • When you ask questions about their company goals, business strategy, employee needs, etc., explain that your agency takes a comprehensive approach to benefits planning, and includes all that information when helping a client find the best plan. Then the prospect won’t simply feel like they are answering questions, they will understand WHY you are asking and feel invested in the process.

Questions to ask during this stage

There are countless questions you could ask a prospect at this stage of the sales process. Remember, your goal is to fully understand their business, their benefits plan and renewal history, their relationship with their broker, their unique needs and goals, etc. Here are some topics you may want to cover:

  • A history of their benefits plans, including current plan(s), plans offered in the past, rate increases, reasons for changing plans, employee reaction to new or updated plans, etc.
  • Company goals, challenges and needs as they relate to the benefits package (for example, your prospect may place a high importance on employee recruitment and retention)
  • Their relationship with the current broker (as well as past brokers), including why they chose this broker, how long they’ve been with them, how the broker supports their needs, etc.

For more information on how to win the prospecting battle and successfully challenge the incumbent broker, be sure to download our latest e-book: 3 Ways to Outshine the Incumbent. You’ll learn strategies for winning business, from cold call to close.

Download now

Topics: Differentiation, Technology, Sales/Prospecting