The easiest way to get your customers to agree to Payment Protection is to get them engaged in the offering. No one wants to hear a sales professional prattle on about all the things the product has; they want to see what it does for them.
So, what does this mean? Engaging your customer visually puts them in the picture and allows them to see how Payment Protection will benefit them.
Fred R. Barnard, in 1927 quoted; “A picture is worth a thousand words”. So, let’s stop talking about Payment Protection and start “connecting the dots” that will help them identify with the importance of protecting their loan. How do we accomplish this? Here are a few thoughts:
- Show them how much your financial institution has saved other customers. Have a marketing document that shows the total dollar amount for the past year and what this equates to per claim (keep death and disability separate);
- Be descriptive in your product explanation; paint a vivid picture which includes them; i.e., “I’d like you to get a picture of what could happen to your family in the event of your death, what does that look like? Tell me about that”;
- Use imagery when you discuss the specific product features; using words such as “can you see”, “what would that look like”, “let’s take a peek at how we’ve helped other customers like yourself”, “let me show you how the product would help your situation”, etc.
*90% of the information processed by the brain is visual! Therefore, the more you engage your customer visually, the sooner they can identify with Payment Protection. Why, because it puts them in the picture. Isn’t it time that you stop wasting your breath talking about Payment Protection? You’ll engage more customers and help them to identify with the value of Payment Protection by putting them in the picture.
For Internal Training Use Only