The First Prospect Meeting is a Discovery Process not a Sales Process. Employers are willing to buy when a need is discovered but no one wants to be Sold!
Advisors should be curious, lead the discovery for both yourself and the employer to make their own realizations.
Ask Good Questions, Wait and Listen to Employer's Wants and Needs.
1. What do you currently offer your employees?
2. When did you last meet with your broker/advisor/consultant?
3. What were their recent recommendations for your plan?
4. What are your benefit objectives? / Why do you offer benefits?
5. How do you evaluate employee benefits coverage?
6. How does your plan stack up to other employers?
Intention of Questions:
1. To determine if there is an existing plan that you could be appointed to or you would need to quote a new plan. To determine the level of coverage and knowledge of the decision maker about coverage
2. To determine if the employer knows their advisor and how frequently the employer meets with them. Is it just once at renewal or at other points in the year. To determine when the renewal is. (beginning 2-3 months prior to renewal is a good potential trigger event time to engage employers)
3. To determine the focus of the incumbent broker: negotiating the renewal, renewing current coverage, marketing the plan or value-added advice? To determine the employer's level of engagement with their broker.
4. To determine if there is an objective, what that objective is and whether or not the current plan or current broker is meeting that. To determine any benefits or corporate philosophy to be mindful of as well as any short term urgencies like cost savings.
5. To determine if there is an annual process with the advisor and or if the focus is on pricing carriers vs evaluating coverage, surveying employees or pricing alternatives
6. To determine if benchmarking has been received and what type of benchmarking may be valuable.
During this discovery process the Advisor will learn about the Employers met and unmet needs. The Employer will also be forced to think critically about their benefits (perhaps for the first time) and open the door to an evaluation. These questions are designed to trigger an event, a want from the employer, to evaluate their benefits. The advisor will then be in a position to demonstrate that process, offer that evaluation using benchmarking, plan audit, solution library and more!
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