Insurance agent and business owner walk into a bar
A potential conversation that could lead to new business.
It’s the holidays, so we can be lighthearted. If a business owner and an insurance agent walk in into a bar, what might happen next? Let’s assume you are the insurance agent.
1. Be confident. No slouching. Straighten your clothing. You never know who you might meet.
2. Walk up to the bar. Find a seat. You aren’t going to be drinking alone. That’s so sad. As a successful agent, you never know where your next client is coming from.
3. Start the conversation. There’s a guy in a suit sitting next to you, looking up at the TV news. You are tempted to introduce yourself and ask: “What do you do” but decide on a more tactful approach instead. You look at your glass and say: “At last, a chance to relax! It’s been a tough day.” You stop talking. Your glass isn’t going to answer back.
4. The guy responds. The fellow in the suit turns and says: “Tough day for you too? What made it tough?”
5. You engage. “This is my busiest time of the year. The phone never stops ringing.” You ask him: “What’s your reason.”
6. The guy opens up and asks a question. “I own a toy store. December is usually our best month, but supply chain problems mean I can’t get the stock I need.” He then asks: “What do you do?”
7. You tell your story. “I’m in the health insurance field. You’ve seen those nonstop ads about Medicare open enrollment on TV. That’s what people are calling about. They want the free dental care and rides to the doctor they hear about.”
8. The guy complains. “Don’t talk to me about health insurance. It’s one of my biggest benefit expenses and costs are out of control. There‘s nothing you can do about it.”
9. You see an opening. “It’s not as hopeless as you think. There are many different kinds of plans out there and plenty of firms prepared to compete for your business. But you don’t want to talk about that. Tell me more about your supply chain problems.
10. Now the guy is interested. “Maybe we should talk about health insurance. What do you mean there are plenty of plans and plenty of providers. Why hasn’t anyone told me?”
11. You establish a threshold of service. “How long have you been with your current provider? When was the last time they called and compared plans?”
12. The guy says he isn’t getting service. “I’ve been with these guys since I started my business 10 years ago. I only hear from them if I make the first call. The guy I bought from left years ago and the agency was swallowed up by another agency.”
13. You make a mental note. Hmmm… if he started this toy business 10 years ago and is still in business, it’s likely he’s pretty successful. Ten years history makes him an established business. He got through the pandemic lockdown and isn’t talking about struggling. There could be opportunity here.
14. You offer to help. “Look, this isn’t the time or the place to talk right now. We came here to unwind and forget our problems. However, I think I may be able to save you money. How can I get in touch with you?”
15. He offers a card. “My business is in that brick building at the end of the block. Here’s my card. If you can cut my expenses, that’s something I want to hear more about.”:
16. You set up an appointment. “What time do you get into the office? About 7:30? Fine. I’ll be there tomorrow.”
17. You change the subject. “Let’s talk about your supply chain problem. You’ve probably heard the news. The logjam at the ports is getting resolved. I think as long as those containers of merchandise are out at sea or sitting in port, no one is getting paid. The manufacturers want cash in hand. They will move heaven and earth to make delivery. The big question is whether they’ll get it to you in time for Christmas. Have you been calling your suppliers and making noise? It’s the squeaky wheel that gets the grease.”
18. He responds positively. “I like the way you think. I’m glad we met.”
Sometimes it’s this easy, other times it’s not. You weren’t pushy. You focused on learning about their problem and helping them. You offered a way for them to opt out of the conversation.
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