The Consultative Broker™ Briefing
Volume V, Number 14
A Free Publication of C.R. Ekern & Company
888.670.1177
www.crekern.com
Copyright, C. R. Ekern & Company, 2007

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Probing Questions and the Initial Call

All skillful brokers understand the art of probing questions.  They are the key to every sales technique ever invented.  However, when a probing question is tied to the outcome of a Consultative Brokerage sale, the impact is significant.  The trick is to elevate the questions beyond the traditional “who handles your insurance and what is the cost?”

When approaching a new client on the initial interview, there are five issues that you must learn the answers to.  The client’s responses to these issues determine your sales strategy for the entire length of the transaction period.  Sometimes the transaction period can take a year or more.  Therefore the strategy you adopt must stand the test of time (and the test of patience as well!)

Through the skillful positioning of the probing question process, these are the questions that must be answered in the initial interview:

1. What is the playing field?  Aside from the usual questions about the other broker and carrier, we need to know if this is a process that will be based upon issues or competition.  It is the difference between price and cost.

2. What is the prospect’s temperature for change?  This is normally discovered by asking questions that quantify the client’s state of mind.  “How long… When… Where does that rank?”

3. What is the business sophistication of the prospect?  This is important to learn, as it will provide us with an indication of the level at which we should begin our discussions with the prospect.  We do not want to talk over or under their heads.  The best way to learn is through indirect questions that require the prospect to explain some of the technical aspects of their program.

4. What is the appetite for “the fix?”  Many of you know that “the fix” is your unique solution for the reduction of the prospect’s Total Cost of Risk.  In order for Consultative Brokerage to be successful, it usually requires an investment in time, money or effort from the prospect.  It is important to learn whether or not a prospect will maintain this investment in order to guarantee the desired outcome. 

5. Have they outgrown their current broker?  As a Consultative Broker your firm can provide clients with solutions that their current broker is either unable or unwilling to offer.  In order to learn this, your questions should focus on specific services that have been offered and the results the client has experienced.

Here is an important point to remember.  The initial interview is not a sales call, but a learning call.  Do not take up this important time by talking - listen instead.  The skillful positioning of questions will provide the answers required to lead you to a new Consultative Brokerage client.

Best regards to all Consultative Brokers,

Rob Ekern
President
C.R. Ekern & Company

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Consultative Brokerage® Techniques are utilized by agents and brokers across North America in the development and retention of upper middle market revenues.  The Consultative Broker Briefing is delivered electronically free of charge to selected agents, brokers, and other insurance professionals across North America.  To subscribe to The Consultative Broker Briefing, please click here.

Copyright 2007 C.R. Ekern & Company