How much control do you REALLY have?
Most sales processes related to protection are nothing more than a few pages of scripting and a flow chart, which results in the lack of control over your sales process.
Without a detailed and structured process, most sales people will be doing varied things on each call. With a larger team, everyone will be doing different things from each other.
- How can you spot mistakes when there is no detailed sales process to check against?
- How do you correct and improve people effectively?
- How can you help people effectively when they stop performing?
- How can you genuinely say that every call is compliant?
The lack of control can lead to desperate sales people who:
- Sell only on price
- Rush towards closure to “get the deal”
- Miss opportunities for up-selling and crossselling
The result is a lower average commission or higher clawback! At best, the sales people will lose confidence, and at worst, it can lead to deliberate non-disclosure; fraudulently achieving a sale with “standard rate” underwriting.
What does an effective and controlled sales process look like?
- A detailed “decision-tree” based script
- Structured call flow with stages simplified into product options
- A call monitoring plan to check for the script and stages
- A clear operational process map
- KPIs that directly connect operational processes and call stages to the outcomes
An effective sales process means customers are more likely to buy a policy, keep a policy, and spend more on alternative options.
If you’ve not got a detailed sales process in place, can you be sure you’re 100% FCA compliant?
- Only with genuine control over the sales journey can you be sure your business is truly compliant
- A detailed, structured script and sales process outline ensures you have full compliance with FCA regulations, and that your customers have genuinely made an informed decision