MRL #063- The 3 Types of Prospects (And How To Sell To Each of Them)

One of my biggest mistakes early on as a Producer was over-complicating things.

I played chess, when only checkers was needed.

I was especially bad at over-complicating prospecting.

I thought I had to do a million different types of outbound, craft the perfect message for each prospect, and convert on every shot I got on goal.

Over time I’ve learned it’s just not that complicated.

Because when you really get down to it…

There Are Really Only 3 Types Of Prospects

Those that know they need help, those that don’t know if they need help but are willing to take a look under the hood, and those that don’t need or want help.

That’s really it.

Prospects may come in all shapes and sizes…

But a prospect can only ever be one of those 3.

So, in this newsletter I’m going to take a look at all 3 types of prospects and how to sell to each of them.

Ready?

Ok, lets begin.

Those That Know They Need Your Help

These people are the low hanging fruit.

They are the guys and gals who are in pain.

They’re likely pissed at their agent, pissed at their carrier, or both.

They are not hard to spot. In fact when you reach out to them they will gladly raise their hand and wave it furiously so you don’t pass them by.

A typical cold call to this type of prospect will sound something like this:

You: “Hey, Jeff would you ever be open to due diligence?”

Them: “Yes! Please help me! My agent just handed me a last minute renewal and as usual it’s a huge increase without warning!”

Easy lay up.

You’re in.

You don’t even have to sell them.

They need help, hear your value prop, and let you walk right in the front door.

The hard part is just doing enough outbound to find them.

This type of prospect will make up a lot of your wins, but be careful they aren’t all created equal.

Many will be good, loyal, long term clients…

But some will be a pain-in-the-arse.

They’ll either be buyers who change agents like they change underwear, or they’ll be the difficult and/or ignorant type.

Let the bad ones walk, and hold on to the good ones.

Ok, moving on…

The second type of prospects are…

Those That Don’t Know If They Need Your Help But Are Willing To “Take A Look Under The Hood”

These are the one’s we’re really looking for.

They don’t know if they need help, but they’re smart enough to know they don’t know everything.

They’re looking for a second set of eyes to put on their program.

Maybe they love their agent, maybe they don’t…

Doesn’t really matter.

All that matters is that they’re willing to do due diligence.

But be patient…

They’re not just going to rollover and give you their account. You’re going to have to work for it.

Expect a few objections and roadblocks along the way.

A typical call to this type of prospect might sound like this:

You: “Hey, Jeff would you ever be open to due diligence?”

Them: “Hmmmm… I don’t know. We’ve been with the same agent for a while.

You: “I understand. If you’ve ever wondered ‘am I leaving money on the table’ or ‘is there some gap in coverage I don’t know about’ my due diligence process will get you those answers without disrupting your current agent relationship.”

Them: “Hmmm… Well ya know, we did have that big increase last year…”

Boom. Door opened.

Once inside, now it’s time to do your thing.

Selling these types of prospects aren’t always a sure thing.

Sure, some will hire you first go round.

But some will be heart breakers. Even when you do find significant issues, they’ll simply say ‘thanks for your time’ and be on their way.

That’s okay.

That likely means they’re either super loyal, or just trigger shy.

Both are a good thing.

Resist the urge to hard sell them, or worse, give up.

When shit does finally hit the fan and their pain is unbearable, they’ll remember you.

And when you do finally convert them most will be good, loyal, long term clients.

Last but not least we have…

Those That Don’t Need Or Want Your Help

Sometimes they’ll be nice about it…

Other times they’ll be dicks.

Either way they just don’t want your help.

This is where I see so many Producers screw up.

They try to force it.

They think if they can just say the right thing, they can change their mind.

They push, they over pursue, and they burn the bridge.

For what?

There’s so many other prospects out there that need help!

Why try to break up a happy home?!

These prospects are not hard to spot.

A typical call goes like this:

You: “Hey, Jeff would you ever be open to due diligence?”

Them: “We’re happy with our agent.”

You: “I understand. If you’ve ever wondered ‘am I leaving money on the table’ or ‘is there some gap in coverage I don’t know about’ my due diligence process will get you those answers without disrupting your current agent relationship.”

Them: “Nah. We’re happy where we’re at.”

Move on.

The door is closed. No need to try to bust it down.

But remember, “no” doesn’t mean “no” forever…

It just means “no” right now.

You should still keep them on your follow up later list.

Call them after renewals, check in with them from time to time.

I can’t tell you how many “married” prospects I’ve called on that ended up switching the next year and I never followed up with them.

What I thought was a forever thing ended up being not-so-forever.

Somebody swooped in when SHTF, and it wasn’t me.

Moral of the story?

Don’t be me.

Selling to these types is a long, long, long term play.

You may not ever get your shot, and even if you do it may be 5-10 years from now.

That’s okay.

Nothing lasts forever.

Unless of course it’s somebody’s brother-in-law or cousin who handles their account…

Then “yes” it probably is forever.

Definitely let those walk.

In Closing…

Don’t over complicate things.

Prospecting isn’t rocket surgery.

Make calls, sort prospects into buckets, follow up like crazy.

That’s the game.

Simple, simple, simple.

Ok, that’s enough out of me.

I’m still recovering from a week at Disney and sleeping on a pull out sofa.

What can I say?

Fat boy needs his rest.

Hope you have a helluva week.

See you next Sunday.

Kick ass take names,

Maximus F Revenue

P.S. If you liked this newsletter, there are 2 more ways we can help you:

1. Go check out The Producer Playbook It’s our step-by-step guide to building a $1,000,000 book via cold prospecting. It costs less than a night out with friends.

2. Join Max Revenue HQ It’s our community by Producers in the trenches, for Producers in the trenches. We’ve got almost 400 Producers already inside. Oh, and it’s FREE (for now).