Category: Financial Services Speaker

Staying at Home Doesn’t Mean Stuck at Home

 

In my work as a motivational pharmaceutical sales speaker, one of the most often asked questions I hear these days is, “With all of this social distancing stuff, I’m stuck at home. How can I do my job?”

The answer is that the challenge isn’t one of distance, but of mindset.

Limiting Contact, Not Determination

We are in an unusual time, between vaccine availability and rising cases. Chances are your company is asking you to stay home. As well, many healthcare providers are not only overworked, they want to limit outside contacts.

The temporary new normal turns pharma sales into a major challenge especially if you are selling a new drug and need to provide samples, demonstrate, educate or provide safety information. If things were not tough enough, we all know that patients are fearful of office visits and have cut back on them. This affects prescriptions.

Pharmaceutical industry writer Jessica Merrill commenting on the impact of social distancing on sales stated (November 13, 2020) that:

“The impact of curbing sales reps and medical liaison interactions could be felt more heavily for drugs that rely on hospital-based physicians…many hospitals are limiting access, restricting the ability of company reps to enter the facilities. Primary care physicians too are fielding increased calls from concerned patients.” The sense of urgency to see patients has lessened as, obviously, are educational dinners, trade shows and the like.

If you are allowing tough times to discourage you, it is time to reset your thinking.

Drugs are still being launched. Education is still critical. Your competition is still out there. Are you determined to sell in tough times? Do you have the daily grit to see it through?

When One Road is Blocked, Find Another

Jessica Merrill talked about “Short-Term Triage, Long-Term Impact,” and she is correct. What you do now will impact on your success in the months and years to come. It is a matter of developing a vision of success.

Now, and certainly for the foreseeable future, most sales reps will have to rely on the virtual and digital space to communicate. According to industry statistics, during “normal times,” about 50 percent of the time healthcare providers are receptive to sales calls. However, in these times only 10 percent will open a sales email. That’s quite a drop. How do you get around it?

The key is creativity. Find more engaging approaches to communicate. Out-hustle the competition through committed customer support. Work at show-casing your products in a fresher way or with a more research-based approach or a more interactive method. The point is to be determined to set your company apart and above.

Keep in mind that virtual communication is largely in its infancy. We are on the verge of change. What is necessary now may become an accepted and permanent change in the years ahead.

The pharmaceutical industry has been looking for ways to lower costs and reach more customers for years. A mixture of innovative digital approaches combined with in-person calls could move the industry needle toward greater efficiency and impact.

Through vision, determination and the daily grit to rise above the obstacles that confront us, you and your sales team may well change the sales model forever. Staying at home doesn’t mean stuck at home, it means seeing possibilities from no matter where you sit.

 

Scott Burrows, Pharmaceutical Sales Motivational Keynote Speaker is booking appointments for in-person and virtual meetings and events. Contact Scott today through this website today or call: (520) 548-1169

Be Determined to Be the Difference in Real Estate Sales

 

As a virtual motivational speaker for those in real estate sales, I know that “the numbers” don’t tell the story. In 2019, about 6 million new and existing homes were sold and there were about 1.4 million realtors. Sounds easy, right? Hardly.

Along came February 2020 and COVID-19. A tough profession got tougher.

In the best of times, turnover is huge. Almost 75 percent of new agents fail in the first year, and nearly 9-out-of-10 fail after five years. In this time of pandemic, everything has become harder, from the first showing to the final handshake (complete with masks and hand sanitizer). Without determination, you can become a statistic.

Now for the Good News

Due to the pandemic, in many markets the demand for housing is exceeding the supply. Interest rates on home loans are at historic lows, and home prices, which dipped at the front-end of the pandemic, have recovered and are approaching pre-pandemic levels.

It may be tougher to sell a home right now, but those professional realtors who have a positive mindset, the determination to succeed, and the daily grit to be successful can be successful.

In terms of positive mindset, every realtor must re-dedicate themselves to education by being more knowledgeable than the competition. You must be an expert on your market through research and understanding the market forces. In these times, you must become an expert in every aspect of virtual sales. “Not knowing” the new tools of communication such as video-conferencing platforms will immediately work against you.

The determination to succeed means offering your clients the best customer service they have experienced in any sales setting. Whether you are asked for a recommendation on a low-cost trash hauler to someone who can restore antique Victorian wainscoting, the more you can convey your command of the business the better (even if the question is outside the normal).

It comes down to being a professional. Are you determined to being in the professional elite?

Having the daily grit to overcome the challenges and to make a human impact in the life of every one of your valued clients will set you apart. We all know there will be good days and bad; things will fall through, and the unexpected may happen. Those without grit may fall apart. Those professional realtors with grit will fight their way through any adversity.

Something to Keep in Mind

Professional realtors have been around since 1900. Realtors have sold through wartimes, peacetime, recessions, inflation, The Great Depression, pandemics, and in the aftermath of floods and fire.

Professional realtors have enjoyed success despite hardship. They have done so by having the mindset, determination, grit and absolute dedication to ethics and personal integrity. They are dedicated team members and unselfish in their roles. You can succeed if you are determined to be the difference and rise up to make the difference.

 

Scott Burrows, Real Estate Sales Virtual Motivational Speaker is booking appointments for virtual sales meetings and events. Contact Scott today through this website today or call: (520) 548-1169

When Everything is Changing, What Should Stay the Same?

 

If you perform any corporate sales function, I don’t have to tell you that in the pandemic everything has changed. As a former corporate sales person myself, I valued meeting face-to-face with my clients. That is currently not possible. Sales people have had to re-focus their strategies.

The Change Begins with You

If corporate sales teams are trying to understand how to manage change, their customers are in the same boat as well.

David Ash, senior vice president of FLMH, an agricultural sales and marketing firm, gave this advice to sales teams attempting to adjust to the changes brought about by COVID:

“Many people are frozen in place right now and don’t know what to do with themselves. But it’s important to get up every morning, create a plan, set goals and focus on how you can best serve your customers.”

This thought was echoed by FLMH executive vice president Mitch Van Kampen:

“We have to get creative about problem solving…it’s the salesperson’s business to be asking the right questions and finding proactive solutions.”

These solutions don’t come by magic, they require an intentional vision to develop strategy to implement that change. Sales consultant Tamara Schenk concluded the following regarding sales team management during periods of change.

  • You first need a shared vision of success across the organization.
  • You need a comprehensive change story, i.e., What we doing? Why are we doing it?
  • You need to have clarity in how those changes are to be accomplished.
  • Most importantly: The change you want to see in the organization begins with you.

Do you have the determination to see that change begins with you? Your sales team may have a good idea of what they want to accomplish, they may be clear on those goals, but unless they have the daily grit to get things done, managing change will be an impossible, uphill battle.

See Yourself as Successful

Tamara Schenk makes an important sales change observation:

The key for success is you being the example for the change you want to see in your organization. That means that you should be the first to use and apply the new methods, processes, tools, content assets, etc. You should be amongst the first to use new content, including the sharing functions, with your clients. If it’s about training or coaching, you should be the first one attending the class, even if it’s an online training.”

If you are employed in any corporate sales capacity during these times of rapid and unexpected changes, you must be determined to set an example, to leave your comfort zone and to be determined to lead. Remember that your customers need you.

Become better informed than anyone in your organization, learn as much as you can, coach as many people on your team as possible, and make yourself invaluable.

There will always be change, but what must remain is your vision and core values. For those with the mindset of winning, with the determination to make a difference and the desire to win, there will be rewards.

The pandemic is a major challenge, to be sure, but there will always be challenges. Those who rise to them will be winners. Be the winner that you are.

 

Scott Burrows, Corporate Sales Change Management Speaker, is available for virtual or in-person sales meetings for associations and organizations. Contact Scott today through this website or by calling: (520) 548-1169

 

Insurance Industry Change: Virtually as Hard as You Make It

 

As a motivational insurance sales speaker and former member of the Million Dollar Round Table, I know that selling insurance is easily one of the world’s most intensive, public facing sales jobs. Though products vary from company to company, the most important product you can offer is you.

Then we come to the pandemic. Suddenly, your firm handshake, your trusty, effervescent smile and the friendly banter gave way to videoconferencing, email and a phone call or two. Who had time to prepare for COVID-19? No one. The screeching halt from face-to-face to virtual sales was calamitous. Some insurance industry sales reps determined to keep fighting; unfortunately, many left.

In an industry where new hire turnover rates are 30 percent after three months, once April 2020 hit, thousands of insurance sales reps joined the millions of sales reps in other fields who quit or walked away because selling was “too tough.”

What’s the Difference?

The online resource Business Process Incubator recently completed (as of July 9, 2020) an insurance industry sales survey entitled: How Difficult It Is For Insurance Companies To Go To Remote Working? The results are eye-opening but not unexpected. Let me summarize several of the challenges.

The survey found that it is hard for insurance sales reps to initially explain what was happening, but those who succeeded in overcoming the confusion during the earliest stages had more robust referral networks.

The survey found it is more difficult to sell an “intangible product” remotely. Customers and sales reps can’t share emotions. It is difficult to break through barriers. This is where a sales rep must focus on selling themselves, outworking the competition, and making a difference.

Managing data security is also seen as a big challenge. Insurance providers and their agencies must bolster security and hire more people to ensure confidentiality and protect extremely important customer information. To that end, sales reps must convey trust and instill confidence.

Working remotely is not easy for the sales rep or customer, however, sales reps can convey the convenience and the lessened stress in buying insurance online. In other words, a negative can be turned into a positive.

While some are challenged, others aren’t. According to the survey, the keys are flexibility and technical expertise. Sales reps must either embrace the challenges or get lost in the confusion.

So, what is the Difference?

It can be argued, of course, that the insurance industry and its sales reps live in challenging times, and that the changes faced everyday are enormous. But hasn’t it always been this way?

In what era has selling insurance been stress-free? In what year have so many customers flocked to us that we didn’t have to work? Truth is, there are insurance sales reps who have a winning mindset, and some who don’t.

The insurance industry has always relied on people with vision who have the determination to succeed. If we look at the points raised in the survey, it’s clear that each challenge in the present-day world of virtual insurance sales can be overcome.

The science community has shown tremendous determination and grit to arrive at several promising vaccine candidates. The challenges against them were many. Yet, they persisted and they are close to winning.

Your mission as insurance sales reps is to be inspired to rise up in a similar manner. The difference is you. Stand up to the challenges – and win!

 

Scott Burrows, Motivational Insurance Industry Sales Speaker, is available for virtual or in-person sales meetings. Contact Scott today through this website or by calling: (520) 548-1169.

The Changing Landscape for Insurance & Financial Services

 

As a former insurance and financial adviser, I know much has changed in the past few years in the insurance and financial industry. Customers are more sophisticated and they want to be seen as people, not numbers.

Roi Agababa, the CEO of Novidea, a major brokerage software provider for all lines of insurance, recently wrote an article entitled “5 Key Challenges Facing the Insurance Industry.” One of the challenges he notes is that customer expectations have changed.

He points to the fact that “70 percent of customers expect [their insurance] business to tailor communications and services” based on transactions in the past. When they renew, they assume their experience will be “a frictionless experience – hassle-free, no waiting, and self-service where possible.”

This experience may sound less personalized, but it’s not. The new insurance buyers still want personal attention but on their own terms.

“Digital-savvy millennials are gradually replacing baby boomers as the main buyers of personal insurance and, with a phone always in hand, expect to transact anytime from anywhere.”

Business as Usual is Changing

Salesforce Research organization recently surveyed more than 6,700 consumers and business buyers of goods and services around the world. The results were far different than we might have imagined. Some of the highlights of what they found include:

  • When they call your office, more than 75 percent expect the insurance companies to understand their needs and expectations. This obviously requires a thorough knowledge of your products.
  • Millennials do their research. They have undoubtedly studied many aspects of your products before they call. Getting the sale means doing more, knowing more and approaching their needs without condescension.
  • Along with the point above, “59 percent of customers say tailored engagement based on past interactions is very important to winning their business.” When they ask for options or a presentation, they want it tailor-made not boiler-plate.
  • 84 percent of customers say being treated like a person, not a number, is very important to winning their business. Just because they may find you online or even prefer to correspond with you through texts and emails does not mean they want an impersonal interaction.
  • 63 percent of your insurance or financial services customers want new and innovative products; at the same time, nearly 70 percent are not impressed with ho-hum products that every other representative is offering.
  • Finally, there has been an increase of about 62 percent of concerns about cybersecurity than only two years ago. Expect your current and future clients to ask about cybersecurity within in your firm. How will you answer?

“Business as usual” will never be quite the same. The new generation of insurance and financial services buyers want seamlessness of transactions, expertise, and personalization.

In 2020, you must have the vision to meet your clients’ demands where they are, the determination and daily grit to rise above your competitors, and the dedication to being the best agent you can be.

 

To contact Scott Burrows, Inspirational Insurance and Financial Services Speaker, contact his office today through this website or by calling: (520) 548-1169