FINAL SALES CALL PRESENTATION
FINAL SALES CALL PRESENTATION
a.
The considered company is Forester Financial Services. The company offers insurance products for individuals and companies. Specifically for the final sales call presentation, the considered product is the Key Person Insurance Product with a minimum value of 100,000 dollars. The required prospects call is people with a high profile in the company and with more than 35 years old. That is because of the value of the insurance product and the person maturity at that age (Brookins, 2015).
b.
■ There are multiple offers on insurance products in the industry
■ The return on sales (ROS) of the Key Person Insurance are higher than other insurance products.
■ The claim statistics for Key Person Insurance are lower than other insurance products (NORNBERG, 2015).
Prospect's industry trends:
■ The ratio liability over assets achieved its peak in the current year.
■ There is a high-risk exposure to the failure of the Chief Executive Officer to the company.
■ Small companies have a small participation in the market share of Key Person Insurance products (Brian Tracy, 2015).
c.
Chief Executive Officer: Is the owner of the decisions of the company. He will be selected as the member who will receive the sales call.
Chief Operations Officer: Is the responsible of the operations of the company, who controls the supply chain and daily operations.
Chief Financial Officer: Is the responsible of the company finances (FMI Net, 2015).
d.
1. Sell a 100,000 dollars contract of Key Person Insurance to the prospect in a one week period.
2. Obtain from the prospect a list of two or more prospect that may be interested in the product, independent from the result of the sale call.
3. Create a long-term link between the Forester Financial Services and Richmond Translator LLC (JAMES, 2011).
e.
1. Use of stories and experiences: That improves the communication and reduces the resistance of the prospect to receive the information.
2. Use of facts and financial information: After the stories and experience, the final convincement to the prospect is by the use of financial information and the potential loss of the prospect if he does not contract the Key Person Insurance (Marketing Strategies, 2015).
f.
The primary competitor of the company is MetLife, which has 5% of the insurance market share. MetLife has the advantage that offers related insurance products and other financial product with discounted value (Queensland, 2014).
g.
Situation (S) question: What would you describe the current state of your company and your family
The problem (P) question: It is possible that your physical condition may affect your day-to-day living?
The implication (I) question: What is the impact of your absence in your company or your family?
Need-Payoff (N) question: What benefits do you expect from the Key Person Insurance contract? (Profitworks, 2014)
h.
1. The most important question the prospect will ask are the conditions and the deductible amounts of the Key Person Insurance (Markowitz, 2013).
2.
■ The price of the Key Person Insurance. The benchmarking strategy is the best way to handle the objection. It is important to compare it with the market to handle the objection (James, 2011).
■ Limitations of the contract. The contract has a modular configuration, if the client adds more benefits, the cost of the contract increases.
i. The closing of the sale call is to make a summary of the benefits of the product and the potential problems the prospect will have if he does not sign the contract. At the end of the conversation, it is necessary to appoint a revision call with the final answer of the client.
Reference List
Brian Tracy. (2015). 14 Proven Strategies To Increase Sales Of Your Product. Retrieved from Brian Tracy: http://www.briantracy.com/blog/sales-success/proven-strategies-to-increase-sales-of-your-product/
Brookins, M. (2015). 5 Effective Selling Strategies. Retrieved from Chron: http://smallbusiness.chron.com/5-effective-selling-strategies-18480.html
FMI Net. (2015). Market & Selling Strategies. Retrieved from FMI Net: http://www.fminet.com/programs/mss
James, G. (2011). 10 Easy Sales Strategies for Small Companies. Retrieved from CNBC: http://www.cnbc.com/id/45669286
JAMES, G. (2011). 9 Strategies for Selling Smarter. Retrieved from CBS News: http://www.cbsnews.com/news/9-strategies-for-selling-smarter/
Marketing Strategies. (2015). Action Focused Marketing Strategies That Sell. Retrieved from Marketing Strategies: http://www.marketing-strategies-guide.com/
Markowitz, E. (2013). Top 5 Sales Mistakes to Avoid. Retrieved from The Var Guy: http://thevarguy.com/business-acceleration-infocenter/2014-selling-strategies-top-5-sales-mistakes-avoid
NORNBERG, V. M. (2015). 5 Simple Strategies to Sell Successfully. Retrieved from Inc: http://www.inc.com/vanessa-merit-nornberg/sell-successfully-five-simple-strategies.html
Profitworks. (2014). SPIN Selling Questions. Retrieved from Profitworks: http://www.profitworks.ca/blog/917-blog/sales/195-spin-selling-questions.html
Queensland. (2014). Service and selling strategies at the time of sale. Retrieved from Queensland: https://www.business.qld.gov.au/business/running/customer-service/after-sales-service/service-selling-strategies
