Transcription
Hello, I just wanted to give a quick update as of what I see is the differences between high-ticket sales, like of a business offer, like a course or coaching offer, versus selling life insurance, which is what I'm doing now. Um, so these are a few things I've noticed.
So with high-ticket, before the lead gets on the phone or a Zoom call with you, they've typically seen more marketing prior to that purchase decision. So they've typically seen like a VSL, sales letter, like a, you know, 20-minute to an hour-long video about how your product or service works. They might have sat for a 90-minute webinar. They may be in a Facebook group, uh, with your company where your company is constantly publishing content, um, that demonstrates how your company helps, uh, people in their position. A lot of times, people get on a Zoom with you and they've seen like a testimonial or case study, um, or they've seen emails from your company. So typically, by the time you're speaking with someone in a high-ticket environment, they have much higher intent. They're much more bought into the sales process. They're much more curious about what you do and how you can help them. And when you're on the phone with them or on a Zoom call, you get fewer of the upfront objections of like, "Hey, I'm busy, can we do this later?" Um, you know, or "No, I don't, I don't want to do this." They're much more bought in by the time you speak to them. U most of your objections tend to come at the end of the call once they hear the price.
Life insurance is different. With life insurance, when you're on the phone with someone, um, they've typically only seen one ad before they speak with you. Um, and this typically, like a short Facebook post with like a picture that says, like, "State burial programs available," or they've seen a website banner ad that's really shorter. At most, I've seen like a 30-second to one-minute TV commercial kind of explaining that there may be life insurance available. And I'm talking specifically about life insurance for paying final expenses. Um, so their intent is typically lower. They're less bought into a sales process. They're not as curious. Um, if you do get them on the phone, there's way more of the like, "Get me off the call" type of objections, like, "I'm busy," "I've already taken care of this," "I don't want to do this right now." So you really have to be more adept at handling objections upfront, um, or "Just give me a quote" will be another objection you get.
And then at the end of the call, high-ticket transactions are actually simpler, even though you're charging a lot more money. Upfront, typically you can just swipe a credit card or split it into like one payment or two payments or three payments. You swipe the credit card, you send them a document to sign online, and then they're done. As long as they can pay and sign the document, they qualify for the product or service. With insurance, it's more complex. All the insurance companies want people to pay with their bank account, with like their checking account number and their routing number. People are less willing to kind of give those details. Um, there's also a medical qualification process that they could fail or they wouldn't qualify for the insurance. And then after they sign up for the insurance and actually pay and qualify, then you have other agents calling them trying to switch them over to their, uh, company. So you have what's called persistent issues where you might get the sell in the books, and then another company will call them and convince them to switch.
So, um, you know, the only way life insurance ends up better from my current perspective is if you figure out a way to scale it. So I think you have to do really well on your own as an independent agent, well enough to convince people that it's worth their time to pursue it and do it, just the way you did it, and make just the amount of money you made. And then recruit them, train them, and then they can replicate and replace you in the process, and you can take a percentage of their commissions for training them and helping them get to where they need to be. And then they have to do that same process for themselves to scale it. So, um, that's the only way I feel like life insurance ends up better.
The, the only other thing that I might say life insurance is better is that you do have a little more control over your lead flow. Like when you're in high-ticket, the company you work for controls your leads. They can cut you off, they can reduce your leads, they can, um, keep hiring more agents even though they don't, or more, uh, salespeople even though they don't have more leads. So they can split your lead flow up, they can change your commission structure. Um, those things are far less likely in an insurance environment. You can buy your own leads. So you have a little more control. Your commission structure pretty much stays the same. There could be changes, but they're less common. Um, and you can't really be fired. I mean, uh, at least as far as I've seen so far, unless you do something unethical, um, or something like that. Um, dou get you fired in any environment.
So these are the kind of primary differences I see between high-ticket and life insurance. My plan to stay with life insurance for a long time and really see it through. So I build the skills and then hopefully I have a track record that demonstrates I can train others. But right now, I'm still learning and kind of going through the process.