Overcoming Buyer Hesitation

Buyer hesitation. This is something you’ve probably already come across while selling insurance, and you will probably continue to experience throughout your career. People want to learn about their insurance options, but when it is time to pull the trigger and purchase a plan, they often hesitate, worrying that they will feel buyer’s remorse after purchasing a plan. They might feel like they need more time to make a decision or look into the options you have offered them. There are steps you can take to help ease their mind and push forward with a sale.

Show Your Credibility

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People feel more at ease working with a reputable agent, so show them your positive reviews.

More than 90% of consumers look at online reviews before working with or buying products from a business. If you have at least one positive customer review, approximately 33% of consumers will be willing to work with your business. It all comes down to trust: customers know that there are a lot of businesses out there that are just looking to make a quick buck and don’t care about their customers, as well as fraudulent businesses that could steal their information and money. The more positive reviews you have, and the more credible you are, the better a consumer will feel about working with you and buying insurance from you.

Show Them What You Can Do For Them

One of the best ways to overcome buyer hesitation and put a potential customer at ease is by being completely transparent and showing them all available plans, their prices, and how much you can save them. If you can share your screen with them, do so! When you share your screen, you can show them that there are no added fees or gimmicks. People like that sense of security knowing that they are not getting played or taken advantage of by a sales agent. Show them exactly what is available in their area, and that they will probably not find anything better, or will get the same results from another agent or an online source. This will allow you to build trust with them, and make them more likely to work with you again.

Create a Sense Of Urgency

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Show your prospects how important it is to be insured.

Nudging customers toward a sale is one thing, but you have to be careful how you go about creating a sense of urgency. Push too much and you could lose the prospect forever. The best way to create a sense of urgency when working with insurance leads is to show them why now is the best time to purchase insurance. Compare rates from different companies and help them see that the market is in their favor. Remind them that the unexpected could happen, health conditions could arise, and the older they get, the more they will have to pay.

Honesty Is The Best Policy

Do not lie. Ever. If you can’t offer your customer a policy that meets their needs, it’s always best to be honest and tell them that. Prospects will respect you more and even consider your services at a later date or refer you to friends. And if you do find the right plan for them, make sure to explain both the pros and cons of the plan before your customer makes their decision. Customers experience buyer’s remorse because they feel like they got a plan that wasn’t what they thought it was, doesn’t cover the things they want it to, or is too expensive. Avoid all of this and earn a customer for life by being honest.

Buyer hesitation is frustrating and is inevitable with some leads. And rightfully so: they are investing a lot of money into an insurance plan, so they want it to cover their needs completely. You can help them overcome their hesitation with some of the strategies we have mentioned above. These tips will help you to grow your business and master your sales technique.

Let’s Talk About Customer Reviews & Testimonials

Review and testimonials. They’re what many agents are chasing, unless the reviews are the kind that will send customers running in the other direction! Some companies (including agents) even use fake testimonials and reviews in order to lure people into working with them. It might be tempting to throw in a couple of fake good reviews and testimonials on your Facebook page or website in order to increase your traffic and grow your business, but is it worth it?

The Impact Of Reviewsthumbs up with different colored speech bubbles around it

Approximately 93% of customers read online reviews before deciding to work with a business or buy a product. 31% of customers say they will even spend more on a product or service with good reviews! In addition, the better your customer reviews, the higher your website will rank in search engine rankings.

People Can Spot Fake Reviews

Have you ever put the term “fake reviews” into a search engine? Thousands of answers to the question “how do you spot a fake review?” come up on Google, indicating that people are catching on to fake reviews. About 82% of consumers have read a fake review in the last year, and for 18-34-year-old consumers, the proportion is even higher, with 92% saying they’ve seen fake reviews; and studies show that 90% of people can spot a fake review when they see it. Not only that, but 54% of people say they would not buy a product or service if they suspect it to have fake reviews.

Businesses who post fake reviews will not only lose possible customers, but they will then suffer from a bad reputation. We all know that with a bad brand and reputation, you might as well kiss your business’ success goodbye.

Fake Testimonials Are Actually Illegal

Fake testimonials are not only very deceptive, but posting them is actually against the law. Under 15 U.S. Code § 45, the Federal Trade Commission (FTC) has the power to stop and penalize parties “using unfair or deceptive acts or practices in or affecting commerce.” False advertising falls under this law, including false reviews and testimonials. Fake reviews are not based on real customer experience and so are meant to mislead customers.

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Not only are fake reviews illegal and you can get penalized for them, but you will lose a lot of business.

The bottom line is that posting fake reviews is just not worth it. Everyone spends so much of their lives on their phones these days, which makes it easier for them to distinguish fake reviews from genuine ones. You might get busted sooner or later – and, honestly, there should be no need to fake anything. As an agent, customer service is your best asset, aside from knowledge of the insurance industry. Your job should revolve around helping people find a great plan, keeping in touch with them, and making sure they are happy. When a customer is not happy and leaves a bad review, which will happen once in a while, that’s okay, you just need to deal with it in the right way.

In order to stay ahead of bad reviews, address any you get with a comment saying you would love to speak to the customer to see how you can make things right, followed by a phone call. Show that you are willing to fix the issue and keep your customers happy- this will build your reputation and result in great reviews!

If you would like more positive reviews on your website or Facebook page, don’t be afraid to ask your customers! One study found that 68% of customers will write a review if they are asked. So remember, it just isn’t worth it to post fake reviews, they are more damaging than helpful. Instead, keep your customers happy and they’ll be more than willing to help you out with a positive review!

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