Benefit Advisors, Inc
New Business Sales Cycle
Stated Visually
Referral
Request
*Lead
Generation
Enrollment &
Value-Added
Services
Initial
Sales
Meeting
Sales
Presentation
& Close
Benefit Advisors, Inc., Sales Cycle
Data
Gathering
& Quoting
3/8/2016
Benefit Advisors, Inc
New Business Sales Cycle
Stated Generally
Benefit Advisors will focus on a direct and aggressive sales approach that will consist of a
balanced approach of sales and service. All sales agents should eventually have a service agent
to accommodate service administration after sales agent reaches production goals. We recognize
sales are the biggest determinant of our short-term success. This sales process takes the one
prospect at-a-time approach, but can be used for multiple prospects simultaneously due to the
nature of the insurance industry.
The sales process is: Lead Generation, Initial Sales Meeting, Data Gathering, Sales Presentation,
Enrollment and Client Referrals.
New Business Sales Cycle
Explained
Lead Generation: CRISP
C – Connection 100
R – Referrals – social & client (focus on Power referrals)
I – Internet Leads
S – Strategic Partners, Strategic Referral Partners and Strategic Vendors
P – Prospect 100 Campaigns – cold calls and/or postcards
Initial Sales Meeting: includes PQ with SPIN selling questions, Commitment, Advance and FollowUp Letter
Data Gathering: compiling a list of required documents, time and data needed (see New Prospect
Checklist)
Sales Presentation & Close: Presentation of Solution from Follow-Up Letter
Enrollment: See Enrollment Checklist
Plan & Organize materials and meeting. Including Benefit Statement, Benefit Summaries and SPD
(summary plan document)
Referral Request:
New Business Sales Cycle
Identified
Goals for New Sales Agents
1. Make 30-50 calls a day
2. Percentages of renewal dates, carrier info and appointments
3. 2+ new cases per month with 5+ employees per account
Benefit Advisors, Inc., Sales Cycle
3/8/2016
Benefit Advisors, Inc
New Business Sales Cycle
Tools
1.
2.
3.
4.
5.
6.
7.
8.
9.
X-Dating Script & Help
Agent of Record Letters
United Healthcare Platinum Agency Services
Unlimited Info USA contacts & mailings
Internet Leads
SPIN Selling Training & Skills
Underwriting Guidelines Comparison
Online Carrier Quoting Web Sites
Monday Morning Sales & Learning Meetings
New Business Sales Cycle
Initial Sales Call Process
1. Background Research
2. PQ (prospect questionnaire) with SPIN approach
a. Opening
b. Investigating – SPIN questions
i. Situation Questions
ii. Problem Questions
1. Implied Needs
iii. Implication Questions
iv. Need – Payoff Questions
1. Explicit Needs
v. Benefits
c. Demonstrating Capability
d. Obtaining Commitment
i. Review Covered Key Concerns
ii. Summarize the Benefits
iii. Propose Appropriate Commitment & Advance
3. Follow Up Letter
a. Review Covered Key Concerns
b. Summarize the Benefits
4. Data Gathering
5. Presentation of Solutions
a. Same Concerns from Follow-Up Letter
i. In order of importance
ii. Ask for updates and changes
Benefit Advisors, Inc., Sales Cycle
3/8/2016