Your DNA Holds the Secrets to More Sales

DeoxyRiboNucleic Acid (DNA) is found in all living things.  It’s the tiny structures in our cells containing the blueprint that tells us how tall to grow or what color our hair will be.  More importantly unlocking the mysteries of our DNA has been used to better understand the cause and function of diseases and helped us create better preventative medicines.  Yet what I find most extraordinary is that 99.9% of our DNA is the same as all other humans, with only .1% separating each man, woman and child.  While it doesn’t sound like a lot, it could mean the difference between looking like Brad Pitt or Lyle Lovett.  

One more fun fact about DNA is that there’s enough information in it to fill a 1000 volume encyclopedia.  Ok, I don’t want to bore you. So what does all of this have to do with Insurance?  Comparatively speaking, it doesn’t take an encyclopedia of information to know your customer.  However it’s important to note your customers are not clones, every single consumer has a different set of needs.  Offering “apples to apples” comparison quotes won’t suffice, you need to complete a Desires and Needs Analysis (DNA) on every single client.

This analysis is not simply asking the prospect what coverage and limits they currently have so you can match them.  The intent is to discover the coverage needs in order to craft a customized proposal.  In addition to gathering underwriting data, the DNA is helpful in obtaining important information about the prospect’s psychological needs and buying motivations.

By creating and using a DNA you are accomplishing several tasks:

1. You will distinguish yourself from agents who only ask the necessary questions for a quote.
2. You are demonstrating you are concerned about their total risk management needs, not just selling them a policy.
3. You are gathering vital information necessary to determine their motivation for buying-which gives you a leg up on the competition.
4. You are setting the stage for cross-selling other products as the opportunity rises.

The first part of your DNA should consist of several questions (both open and closed) necessary to get the basic information about the prospect.  Questions like:

1. Name, address, phone number, social security number
2. How did they hear about your agency (referral, yellow pages, advertising)
3. Who is the current company?  How long have they been there?
4. What are the x-dates for all for their personal lines policies?  Not just the business they’re looking to move.
5. Why are they shopping?
6. What are they looking for in an insurance company?

The next set of questions in the DNA is designed to uncover buying motivations and needs.  Such questions might include:

1. Other than cost, are there any areas of your insurance protection that you’re concerned about?
2. What kind of outside activities or hobbies do you and your family enjoy?  Travel?  Collecting?  Sports?  Hunting?  Other?
3. Is there anything you’d like me to know about you and your family?
4. If we can create a proposal that will meet your insurance needs and stay within your budget, is there any reason we could not do business together?

Keep in mind that these are just a sampling of questions that you can include in your DNA.  It’s important that you develop your own list of comprehensive questions that will enable you to complete a personalized insurance proposal, not just a quote. 

Remember, you only have a small window of opportunity to set yourself out from the crowd of agents in the Yellow Pages.  Next Generation Agents understand that the DNA of their customers holds the blueprint to growth and success.