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Salesmanship

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AKM Elias Hussain
AKM Elias Hussain

This document provides an overview of salesmanship and the life insurance selling process. It discusses key concepts like the sales cycle, defining salesmanship, the role of a life insurance salesman, personal selling, and the selling process which includes pre-approach, approach, interview, objection handling, motivation, and closing. It emphasizes that salesmanship is an art that requires understanding customer needs, properly presenting products/services to meet those needs, overcoming objections, and motivating customers to make a purchase decision.

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Welcome To Salesmanship 1Elias - ASB
Presented by A.K.M. Elias Hussain President Actuarial Society of Bangladesh 2Elias - ASB
Sales cycle Utility, Satisfaction & Quality Exchange & Relation Perso n Need & Demand Goods & Service
Life Insurance Selling Life Insurance is a contract of guarantee 4Elias - ASB
Salesmanship What we mean ? 5Elias - ASB
How we can define ? Salesmanship is an art having a scientific concept.
Salesmanship is one of the skill used in personal selling It is the art of successfully persuading prospects or customers to buy products or services from which they can derive suitable benefits, thereby increasing their total satisfaction.
Life Insurance Salesman should believe A) Life insurance is not only the best possible device for family protection -there is no other way. B) Insurance is the only way to safeguard against unpredictable accidental risk of the future. C) The terms of life are hard but the terms of insurance are easy. D) The human life value is for greater that the value of property.
E) Life insurance is the supreme investment of the average man. F) Insurance constitutes one of the most valuable properties devised by the mind of man. G) Insurance, including life insurance is essential for the conservation and constitutions of many business, just as it is in the preservation of homes. H) Insurance enhances the existing standard of living.
Pay attention when selling yourself  Adopt a pleasing personality  Give honest, sincere appreciation  Use name frequently  Be a good listener  Show respect for his opinions  Avoid arguments  Tell him about your job.
PERSONAL SELLING Face to face communication with potential buyers in and exchange situation. So, sales people are highly trained professionals who knows the product and who can communicate their knowledge in a persuasive manner.
Selling process  PRE-APPROACH  APPROACH  INTERVIEW  OBJECTION  MOTIVATION  CLOSE.
Pre-approach  Using information to advantage  Proper preparation essential  Prepare sales talk
APPROACH  THE TIME OF APPROACH  THE PLACE OF APPROACH  THE METHOD OF GREETING.
Interview The selling interview will follow 5 steps  STEP– 1: Approach during which curiosity would have been aroused.  STEP – 2 : A) Uncovering the need i) He uncovers the need ii) The need gets emphasized iii) The need gets accentuated B) Emphasizing the need. C) Accentuating the need.
STEP - 3 Planned Presentation i) He uncovers the need. ii) The need gets emphasized. iii) The need gets accentuated STEP – 4 Close  Be on the look out for a sign to close.  Have ‘trail or tentative closes’.  Have several ‘business close’.
Step -5 Getting through  Get proposal  Collect premium  Arrange medical examination  Ask for leads.
Objection The result of interview steps is :  A state of conscious awareness of the need has been created;  The need has been properly emphasized;  The need has been accentuated to the extent that the prospect feels worried and agitated.
WAYS OF MEETING OBJECTIONS  AGREE WITH THE PROSPECT, DON’T CONTRADICT HIM.: ‘YES -BUT’ METHOD.  RESTATE THE OBJECTION  INTRODUCE A NEW THOUGHT
MOTIVATION EMOTION IS A GREAT DRIVING FORCE AND THE SALESMAN MUST USE IT WITH DISCRETION. THE RIGHT WORD, SPOKEN IN THE RIGHT MANNER CAN MAKE ONE, CRY, LAUGH, CALM DOWN OR GO WILD WITH FURY.
TO ENHANCE MOTIVATION  LOVE AND AFFECTION  FEAR  SELFISHNESS  BARGAIN  STATUS  PRESTIGE  SHAME  SHOWING OFF.
MOTIVATION NEEDED MAKE IT HARD NOT TO BUY:  RE-CAPITULATE AND FURTHER ACCENTUATE THE PROPOSERS NEED  RELATE HUMAN INTEREST STORIES.  ROUSE EMOTIONS, PARTICULARLY OF LOVE AND AFFECTION AND FEAR
MAKE IT EASY TO BUY:  BY KEEPING THE COST OF THE PLAN WITHIN THE MEANS OF THE PROSPECTS.  BY SUGGESTION CARRY INSTALMENTS OF PREMIUM  COMPARE THE COST WITH BENEFITS.  BY SYNCHRONIZING PREMIUM PAYMENT PERIOD.  BY EXPLAIN CLAUSES FOR TEMPORARY FINANCIAL STRINGENCY OF THE PROSPECT.  BY ARRANGING MEDICAL EXAMINATION AT HIS CONVENIENCE
ASK FOR OR (MINOR) DECISION:  BY ASKING SOME INFORMATION (RELATED TO INSURANCE PROPOSAL)  BY SUGGESTING MEDICAL EXAMINATION .  BY ASKING FOR FIRST PREMIUM.
The closing procedure will be helpful:  C is for ‘choice’  L is for ‘loss proof’  O is for ‘obligation’  S is for ‘seek hidden objection’  E is for ‘example’
The End Thank you akmeliashussain@live.com 26Elias - ASB

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Salesmanship

  • 2. Presented by A.K.M. Elias Hussain President Actuarial Society of Bangladesh 2Elias - ASB
  • 3. Sales cycle Utility, Satisfaction & Quality Exchange & Relation Perso n Need & Demand Goods & Service
  • 4. Life Insurance Selling Life Insurance is a contract of guarantee 4Elias - ASB
  • 5. Salesmanship What we mean ? 5Elias - ASB
  • 6. How we can define ? Salesmanship is an art having a scientific concept.
  • 7. Salesmanship is one of the skill used in personal selling It is the art of successfully persuading prospects or customers to buy products or services from which they can derive suitable benefits, thereby increasing their total satisfaction.
  • 8. Life Insurance Salesman should believe A) Life insurance is not only the best possible device for family protection -there is no other way. B) Insurance is the only way to safeguard against unpredictable accidental risk of the future. C) The terms of life are hard but the terms of insurance are easy. D) The human life value is for greater that the value of property.
  • 9. E) Life insurance is the supreme investment of the average man. F) Insurance constitutes one of the most valuable properties devised by the mind of man. G) Insurance, including life insurance is essential for the conservation and constitutions of many business, just as it is in the preservation of homes. H) Insurance enhances the existing standard of living.
  • 10. Pay attention when selling yourself  Adopt a pleasing personality  Give honest, sincere appreciation  Use name frequently  Be a good listener  Show respect for his opinions  Avoid arguments  Tell him about your job.
  • 11. PERSONAL SELLING Face to face communication with potential buyers in and exchange situation. So, sales people are highly trained professionals who knows the product and who can communicate their knowledge in a persuasive manner.
  • 12. Selling process  PRE-APPROACH  APPROACH  INTERVIEW  OBJECTION  MOTIVATION  CLOSE.
  • 13. Pre-approach  Using information to advantage  Proper preparation essential  Prepare sales talk
  • 14. APPROACH  THE TIME OF APPROACH  THE PLACE OF APPROACH  THE METHOD OF GREETING.
  • 15. Interview The selling interview will follow 5 steps  STEP– 1: Approach during which curiosity would have been aroused.  STEP – 2 : A) Uncovering the need i) He uncovers the need ii) The need gets emphasized iii) The need gets accentuated B) Emphasizing the need. C) Accentuating the need.
  • 16. STEP - 3 Planned Presentation i) He uncovers the need. ii) The need gets emphasized. iii) The need gets accentuated STEP – 4 Close  Be on the look out for a sign to close.  Have ‘trail or tentative closes’.  Have several ‘business close’.
  • 17. Step -5 Getting through  Get proposal  Collect premium  Arrange medical examination  Ask for leads.
  • 18. Objection The result of interview steps is :  A state of conscious awareness of the need has been created;  The need has been properly emphasized;  The need has been accentuated to the extent that the prospect feels worried and agitated.
  • 19. WAYS OF MEETING OBJECTIONS  AGREE WITH THE PROSPECT, DON’T CONTRADICT HIM.: ‘YES -BUT’ METHOD.  RESTATE THE OBJECTION  INTRODUCE A NEW THOUGHT
  • 20. MOTIVATION EMOTION IS A GREAT DRIVING FORCE AND THE SALESMAN MUST USE IT WITH DISCRETION. THE RIGHT WORD, SPOKEN IN THE RIGHT MANNER CAN MAKE ONE, CRY, LAUGH, CALM DOWN OR GO WILD WITH FURY.
  • 21. TO ENHANCE MOTIVATION  LOVE AND AFFECTION  FEAR  SELFISHNESS  BARGAIN  STATUS  PRESTIGE  SHAME  SHOWING OFF.
  • 22. MOTIVATION NEEDED MAKE IT HARD NOT TO BUY:  RE-CAPITULATE AND FURTHER ACCENTUATE THE PROPOSERS NEED  RELATE HUMAN INTEREST STORIES.  ROUSE EMOTIONS, PARTICULARLY OF LOVE AND AFFECTION AND FEAR
  • 23. MAKE IT EASY TO BUY:  BY KEEPING THE COST OF THE PLAN WITHIN THE MEANS OF THE PROSPECTS.  BY SUGGESTION CARRY INSTALMENTS OF PREMIUM  COMPARE THE COST WITH BENEFITS.  BY SYNCHRONIZING PREMIUM PAYMENT PERIOD.  BY EXPLAIN CLAUSES FOR TEMPORARY FINANCIAL STRINGENCY OF THE PROSPECT.  BY ARRANGING MEDICAL EXAMINATION AT HIS CONVENIENCE
  • 24. ASK FOR OR (MINOR) DECISION:  BY ASKING SOME INFORMATION (RELATED TO INSURANCE PROPOSAL)  BY SUGGESTING MEDICAL EXAMINATION .  BY ASKING FOR FIRST PREMIUM.
  • 25. The closing procedure will be helpful:  C is for ‘choice’  L is for ‘loss proof’  O is for ‘obligation’  S is for ‘seek hidden objection’  E is for ‘example’