B2B Insurance Agent Sales and Marketing Best Practices – Overcoming Potential Client Objections

Selling B2B insurance can be a difficult endeavor, even with a relatively eager agency prospect. There is a budget approval process, including a CFO review, buy-in from key team members, coordinating schedules, legal review, and finally committing. These are just a few of the many challenges inherent in any B2B sale. Add to those obstacles a prospect who is a good candidate for your insurance solution but has objections to your value proposition or a high-level relationship with a “C-level” executive competitor and we’ve just listed some of the top obstacles in a B2B insurance sales cycle. How can you overcome these objections and come to an agreement? Here are a few tips that will help you get around the objections and create an easier path to the sale:

  • Anticipate the most common objections and have prepared answers ready.
  • Make a list of additional points to leverage – your elevator pitch may only be 30 seconds long, but there are many nuances in your value proposition that you should have in your back pocket.
  • Provide examples of customer successes similar to your prospect, and be prepared to share them verbally and in writing (customer case studies).
  • Drop name when relevant – but if you’re going to do this, make sure you’re on solid ground.
  • Understand the solutions and pitches of competing insurance companies and determine how and why your solution is superior. Your superior solution may be the service you offer.
  • Find a methodology to create a unique value proposition that sets you and your agency apart from your competitors. Often the best way to do this is listed in the following bullet point.
  • Sell ​​by telling stories. Stories are more interesting and the information conveyed is much stickier. You may not remember the details of the last meeting you attended, but I bet you remember all the salient details about the “The Boy Who Cried Wolf,” and that story goes back to Aesop.

By following these few tips, B2B insurance agents, or pretty much any B2B sales professional, can improve their conversion rate and create an improved sales cycle. B2B selling is both an art and a science, it is a game of numbers and therefore quantitative, but it is also an absolutely qualitative process that must be constantly reviewed and assessed.