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October 28, 2013 at 07:00 AM
Have you ever tried to sell an annuity to a potential client and been shut down almost immediately because he or she didn’t want to hear what you had to say or thought you were trying to upsell them something they didn’t need?
Yes, selling annuities can be challenging. They are complex financial vehicles that are hard to understand in the few minutes you have to sell it before it seems like just another selling ploy.
If you need help boosting your annuity sales, consider these tips next time you’re talking annuities with a potential client:
1. Touch up on your teaching skills. You may be a great businessperson, but are you a great teacher? Half the battle of selling an immediate annuity is teaching your potential clients what it is and how it can help them accomplish their lifelong financial goals.
Consider taking an introductory teaching course. It may seem so redundant to you to explain why someone should buy an annuity that when explaining it to a client, you don’t describe it in simple enough terms or your thoughts may be jumbled. When selling, teaching is a vital skill.
2. Don’t say yes to all prospects. Yes, you read that correctly. Sometimes turning down clients can be good for business.
There are a number of companies selling immediate annuities and many people looking to buy them. Not every client is a match for your company and vice versa. Be real with your prospects, and don’t be afraid to be upfront. If you don’t think you are a good match for each other, say so.
