Finance Articles

How to Sell an Intangible - a Finance and Insurance Sales Training Example

Finance and insurance sales training:

Many years ago I had my first sales assignment as a finance and insurance salesperson at a Chrysler automobile dealership in North Carolina.

I remember one of my first customer?s was Mr. & Mrs. Jacobs. They were a middle aged couple with one teenager still at home. They were buying a new Chrysler that would primarily be Mrs. Jacobs car.

There is one big difference in auto sales training and finance and insurance sales training. In car sales you are selling a tangible item the prospects can see and feel. In finance and insurance sales you are selling an intangible the prospects can?t see and feel. One is not better or worse they are just different and require different sets of selling tools.

The products I sold as a finance salesperson were things like extended service contracts, credit life insurance, accident and health insurance, and the actual financing of the vehicle they were purchasing.

Two intangible selling tools used in finance and insurance sales training

Intangible selling tool #1 - Savings / cost comparison: First I presented to the Jacobs an extended service contract and Mr. Jacobs said he didn?t want it.

Then I showed him a list of 10 of the most common types of major repairs people need to have done on their vehicles that the extended service contract covers. Next to each item was listed the labor hours required to do the repair multiplied by the average per hour labor rate for the local area. And next to that was the average parts cost of that particular repair. Most of these individual repairs came to a total of parts and labor cost of over a thousand dollars some were several thousand dollars.

I then showed him and extended service contract that was priced at $599. I also showed him the details of the coverage and how each of my 10 common examples would have been fully covered. This could possibly save him thousands of dollars in repair costs depending on the type of repair.

After showing him how much his potential savings could be and then comparing it to the much lower cost of the service contract he agreed to buy it.

Intangible selling tool #2 - Protecting a loved one: The second product I presented to the Jacobs was credit life insurance on their car loan. Again Mr. Jacobs responded by saying, ?I don?t need it.?

I agreed with Mr. Jacobs that he may not need the credit life insurance but his wife, who was a stay at home mom, may need it one day. I explained that if he were to unexpectedly pass away his wife would be required to continue making the payments on her car if she wanted to keep it.

I them gave him two examples of actual situations I knew of regarding credit life insurance on cars where the husband passed away.

After that, Mr. Jacobs wanting to protect his wife said he would take the credit life insurance on their car loan.

The finance and insurance sales training take away tip How to sell an intangible? In both situations I was selling a product that my prospects could not see or feel. And with the above two selling tools I turned the product?s benefits into something my prospects could see and feel.

Try using these selling tools on your next intangible product presentation and watch it improve your closing success.

Sales trainer David Nassief invites you to improve your sales earnings with the free report ?Selling Secrets of Top 5% Earning Salespeople.? And check out his ?sales tips? blog at http://www.phoenix-best-sales-jobs.com/Best-sales-jobs-blog.html

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

True Colors of Mortgage Refinancing UK
True Colors of Mortgage Refinancing UK

Cat Training Is Difficult, But Worth The Investment
A popular conjecture is that having pets in a household results in less fighting amongst the people living there than occurs in non-pet households. Who knows how true this is? We do know, however, that from the moment a pet enters your household, everyone smiles a lot more than they did before.

PNC's Charlotte McLaughlin Among "25 Most Powerful Women in Banking"
President and chief executive officer of PNC Capital Markets LLC recognized for the development of PNC's Financial Institutions Group which provides mid-sized banks and other financial institutions with a variety of strategies, tools and services to assess their portfolios and to improve management of their assets, risks and operations.

How To Get A Mortgage You'll Be Happy With.
These days, may people have poor credit. With the explosion of cheap and easy credit, more people have been landed with a poor credit rating. This has led to the phenomenon of the sub-prime mortgage.

Conforming vs NonConforming Mortgage
There are two general categories into which mortgages fall- conforming and non- conforming. Both are viable loan programs, depending on the borrower's needs and qualifications.

CJ Investment Enterprises to Install 50MW of Solar PV Power in San Francisco
After completing a renewable energy feasibility study, CJ Investment Enterprises selected solar photovoltaic technology as the optimal solution for its facilities in San Francisco.

Securing That Fixed Rate Mortgage
These days buying a house is like gaining a degree in finance. Thanks to the fact that most of us are unable to afford a house all on our own, we have to do the rounds of the various loan providers. Finding great loans and mortgages from the millions that crowd our mailboxes is quite a task. You have to keep your eyes open all the time. And you have to weigh each option as objectively as you can. In addition, you do get to find out about all kinds of loans that are put out there for the buyer's convenience. It is a confusing world, but you have to make the most of it.

Homeowner Loans Could Give Those With A Poor Credit Rating The Chance To Borrow
While homeowner loans are a way for those with a poor credit rating to get a loan they are not just suitable for that reason alone. A homeowner loan is one of the easiest types of loan that an individual can get approved for and you are able to borrow up to the amount of equity that is in your home while paying the loan back over long terms. You are able to borrow for just about any reason with the most popular being consolidation and home improvements.

Webkinz the Future Toy Investment Today
Looking at what prices the old retro toys are selling nowadays, I feel like pulling out the few hairs I've got left. If only I hadn't trashed my old toys when I was a kid. If only I had known the future value of my Dinky Toy cars, German train sets, and my made in Japan robots then, my house would have had a drive way and a classic Corvette would have been on it. If Only I Had.

Reverse Mortgage – Be Sure You Need It Before Applying For One
Reverse mortgages used to be considered the last resort of desperate retirees who needed to borrow against their home equity in order to pay for medical expenses. With home prices across the country rising at astonishing rates, more and more retirees, aged 62 and over, are taking out reverse mortgages to fund better retirement living.

Getting An Arizona Mortgage Refinance Online After Bankruptcy
If you have a bankruptcy on your credit report and are thinking about refinancing your Arizona mortgage loan or if you have recently gotten turned down for financing, you may want to consider getting a loan online. Online lenders are well versed in bankruptcy issues and may be able to get you approved for a mortgage refinance when a traditional bank or credit union cannot.

Bestselling Offset Mortgages Guide Published by the Offset Mortgage Centre
The Offset Mortgage Centre, a UK-based provider of free finance and mortgage advice, announce the publication of their guide to bestselling offset mortgages.

New Workplace Wellness Works Website Features Thought Leaders with Focus on Return on Investment
Workplace Wellness is shedding its touchy-feel-y image as highly impactful approaches for reducing healthcare costs and increasing productivity have emerged.

Be Prepared when Seeking a Mortgage
When you're looking for a mortgage, whether it's a first time loan or you're taking advantage of an opportunity to refinance an existing mortgage, it may seem that you're wading through a quagmire of uncharted territory. If you're prepared ahead of time, you'll avoid some of the common pitfalls and know how to find the best deal for your situation.