Oh by the way…

I have an agent-friend that never makes cold calls.  Never.  Yet, he’s always busy and always making money.  Even in a down economy, he is always bringing in applications, earning free trips due to his production and spending his Fridays doing what he wants to do.  He credits his success to having learned to close conversations with clients and friends using the line, “Oh, by the way…”

For instance, at the close of a policy delivery, he would ask, “Oh, by the way, have you thought about coverage on your spouse?”  And, when he returned to place the policy on the spouse, he would again inquire, “Oh, by the way, do you know anyone else who could benefit from meeting with me?”  He would then write down the names and contact information for two or three new leads.

He applied this exercise consistently over the years, changing the phrase to accommodate the situation:  “By the way, how long has it been since you reviewed you’re income replacement coverage?”  “…you’re guaranteed-income retirement plan? …and, to his older friends and policyholders, “…do you have a life insurance policy you no longer need?”, and enter into a discussion about life settlements.

Recently over lunch, my agent-friend revealed that no other marketing tool he had ever used had been as important as making an appointment for a life insurance review.  As we got up from the table, he told me that his best “Oh, by the way …” of all was – and still is: “Oh, by the way, do you have an existing life insurance contract?”  And if they do, he said he follows with “when was the last time you had it reviewed?”   The result?  An appointment, a very likely additional sale, three more referrals, and no need to waste time cold calling.