1. Find out where your market is.
From SnapChat to Instagram and YouTube to Twitter, there are dozens of social media channels to choose from. But not all demographics are equally active on all platforms. Research what social media sites your demographic uses most. For instance, studies show people ages 50 and older are more likely to use Facebook compared to Instagram or SnapChat. LinkedIn remains an excellent way to connect with professionals, while YouTube and Twitter, like Facebook, have a broad reach across demographics.
2. Provide engaging, meaningful content.
Don’t use your social media platforms as online billboards, Edward Karram advises. Instead, post promotional content selectively. The majority of your posts should be helpful and educational, whether it’s a relevant news article or a list of FAQs on how to file a claim or a list of tips for creating an emergency backup plan. You can also tie your posts into upcoming holidays or national observances, like Breast Cancer Awareness Month or Diabetes Awareness Month, offering helpful articles on how to prevent these ailments or support a loved one who has them. Keep in mind users are far more likely to engage with content that contains a photo or video.
3. Post consistently.
Consistency is key, Edward Karram said. Post consistently, making a point to engage daily. Engagement can vary between posting articles or sharing online reviews to running campaigns and retweeting or reblogging industry influencers or relevant articles and info. Edward Karram suggests using content management platforms like Hootsuite if you have difficulty remembering to post regularly. Also, research what times your target demographic is typically active on each social channel and aim to post during those times for better reach.
More on Edward Karram
Prior to founding SELL-U, Edward Karram worked for many years as a life insurance sales agent. Now, he earns a seven-figure income and is eager to share his knowledge to help others achieve similar success. Through SELL-U, Edward Karram equips agents with all of these skills and more to empower them to conquer challenges and propel their careers. The academy utilizes a combination of webinars, in-class sessions, and one-on-one mentorship sessions. Edward Karram also routinely offers inspiration and advice via his YouTube channel and social media accounts, as well as speaking engagements around the country. To learn more about Edward Karram and SELL-U, visit the website: https://www.selluacademy.com/
As Benjamin Franklin famously said in a letter to Jean-Baptiste Leroy, “In this world, nothing can be said to be certain, except death and taxes.” While most people would prefer to avoid thinking about either, planning ahead can make both aspects of life easier to cope with. Edward Karram, an entrepreneur, author, business coach, and public speaker based in Alpharetta, GA, spent many years as a life insurance agent helping individuals ensure their loved ones would be compensated in the event of their passing. Through innovative and intelligent marketing and sales strategies, he’s achieved a seven-figure income. He is now the founder and CEO of SELL-U, through which he trains others to master the art of life insurance sales.
SELL-U sets agents up for success providing business fundamentals, sales strategies, marketing techniques, and lead generation. Unlike most marketing firms, Edward Karram’s academy provides a comprehensive education for long-term, sustainable success.
“Too many agents with so much potential are failing because they are not set up to win from the get-go. Proper training and education are the foundation for any business, but for some reason, your marketing organizations want you to just go out and sell,” Edward Karram said.
To date, Edward Karram has helped more than 1,000 life insurance agents from across the United States 10x their business. These agents, following in their mentor’s footsteps, are able to earn as much as seven figures per year.
Becoming a successful life insurance agent isn’t easy, Edward Karram said. Life insurance agents must have business acumen and master the art of the sale, skills which aren’t learned overnight. A natural sales ability is quite helpful, he noted. However, being confident and having a respectable, trustworthy demeanor and strong emotional intelligence, in addition to a solid foundation of sales education and training, are what you really need to succeed. This in addition to self-discipline and time management skills, crucial for any entrepreneur or self-employed person.
“You can point the finger at anyone you want, but at the end of the day, it’s all on you,” Edward Karram said in a YouTube video.
Through SELL-U, Edward Karram equips agents with all of these skills and more to empower them to conquer challenges and propel their careers. The academy utilizes a combination of webinars, in-class sessions, and one-on-one mentorship sessions. Edward Karram also routinely offers inspiration and advice via his YouTube channel and social media accounts, as well as speaking engagements around the country.
When Dolly Parton wrote her famous song, “9 to 5,” the conventional working hours had been the status quo for decades. In the following years, however, office hours for many Americans extended beyond the 9 to 5 to 8 to 5, or even 8 to 6. Spending more time at the office and less time living life, many Americans became dissatisfied, stressed, and burned out. Fortunately, perceptions are changing, and more people and businesses are prioritizing work-life balance for the sake of health, happiness, and sanity. But how do they do it without sacrificing financial security or professional success? For many people, the answer is working remotely. Edward Karram, a successful entrepreneur, author, and public speaker based in Alpharetta, GA, explains how you and your business can benefit from going virtual.
Edward Karram is the founder and CEO of SELL-U, a company that provides sales training and marketing support to life insurance agents, financial advisers, and industry professionals. Prior to founding SELL-U, he built a noteworthy career as a successful insurance agent. Edward Karram now makes a seven-figure income and is eager to share his knowledge with others.
“Too many agents with so much potential are failing because they are not set up to win from the get-go. Proper training and education are the foundation for any business, but for some reason, your marketing organizations want you to just go out and sell,” Edward Karram said.
SELL-U, unlike most marketing firms, provides comprehensive training that is not just based on how to get sales, but how to set the foundation for long-term, sustainable success. As Edward Karram explains, configuring a virtual business is a great way to start. For one, connecting with clients virtually, rather than in-person, saves time and expenses. No more hours wasted and gas money spent commuting to and from meetings. In addition, working virtually gives you more scheduling flexibility, which is mutually beneficial for you and your prospective clients. Furthermore, virtual appointments allow you to work from anywhere, whether it’s home, the office, or a cafe.
According to research, approximately five percent of Americans are already reaping the benefits of remote work and it is an increasingly popular trend in many industries. For insurance agencies, without physical goods to handle, the transition can be seamless and simple, Edward Karram points out.
What’s more, the businessman said, insurance agents can generate all or most leads using social media alone. According to a Shareaholic report, social media is the number one source for web traffic referrals, so it’s no surprise that successful entrepreneurs like Edward Karram swear by social media as one of the most powerful tools to success.
Taking the time to establish a strong social media presence and invest in learning to use these marketing and sales platforms efficiently and effectively can help you take your business to another level and blow away the competition, without having to leave your desk, Edward Karram said.
“If you are in the Life Insurance industry, remember what others have to do in order to find success,” Edward Karram said. “Invest in yourself and your business!”
Edward Karram is a Georgia-based entrepreneur, public speaker, and life insurance trainer, and has curated a successful career in the financial realm. He now uses that same mettle to help a new crop of insurance agents navigate the ins and outs of their field.
Karram founded SELL-U Academy, a unique life insurance training program that touches on the vitals; business, sales training, insurance fundamentals, and lead generation. Through personal mentorship sessions with Karram, agents are able to discover a sales technique that works for them that consequently helps 10x their book of business.
“When it comes to leads,” Edward Karram begins, “I see most agents milking the same tired sources to the bone, with little to no results. My first recommendation? Little else beats the referrals from a happy client.”
The entrepreneur goes on to say that a great way to resurrect your lead generation approach is to reach out to the family, friends and coworkers of your clients. Chances are, they would have already put in a good word about your skills. Why not explore that avenue?
“Volunteerism is also a great way to gain exposure,” Edward Karram continues. “Advise local charities about their insurance transactions, host seminars for SMEs, actively participate in online forums, and even offer to be a guest speaker for local businesses. The insurance world is your oyster!”
The life insurance coach strongly advises against approaching these acts like you would a sales presentation. He points out that it has to come from a place of sincerity and provide real value to the people on the receiving end.
“Your online presence is paramount,” Edward Karram urges. “Everything from your website to your social media helps reign in new prospects, so use these wisely. Focus on having a strong call to action. You can do so by making sure your web properties have a newsletter sign up button or a quote button that are hard to miss.”
Karram points out that it never hurts to toss in an attractive incentive for every referral.
“Share the wealth and you’ll get back tenfold,” he says. “Some agents choose to provide a lottery or movie ticket, or gift card every time an existing client connects them with a new prospect.”
Edward Karram’s final bit of advice?
“In this business, networking is your best friend. Neary everybody requires insurance, but they aren’t just waiting for you to call on them. Join your chamber of commerce, attend networking events, connect with your alumni group and get proactive on social media. Opportunity is out there, you just have to know where to look.”
In his own career, Karram leverages this tell-it-like-it-is attitude to infuse trust and transparency into the insurance realm. While this was initially met with resistance from higher-ups, Karram persisted and was soon able to work independently and grow his book of business to cross the 7-figure threshold. Today, Edward Karram shares those wisdoms with next-gen agents. He is on a mission to help them refine their sales techniques and grow a massively successful business.
As a life insurance trainer, entrepreneur, and business coach, Edward Karram has created massive ripples in the corporate world. The Founder and CEO of SELL-U has crafted an entire career training registered life insurance agents in business fundamentals, sales, marketing, and lead generation.
After being put through their paces under Karram’s mentorship, over 1,000 agents from all over the country have 10x’d their book of business, and are now able to earn as much as seven figures per year.
Can anyone become a successful life insurance agent? Edward Karram believes success is dependent on whether or not the agent is able to exemplify certain key traits.
“This may seem derivative, but it’s incredibly important to hone your sales technique,” the businessman says. “As an insurance agent, the one thing you’ll be doing is selling your prospects on your product, your agency or yourself. The quicker you can master this skill, the quicker your career will take off.”
The life insurance trainer goes on to say that this is easier said than done. Like most good things, mastering the art of the sale doesn’t come overnight. It takes a combination of trial and error, mentorship and experience.
“Communication, especially over the phone, is another major skill you’ll need to brush up on,” Edward Karram continues. “Unlike an email, you don’t have all the time in the world to measure each word. When you’re pitching to prospects, you may not realize it, but they are playing close attention to your pace, choice of words, confidence, and inflection. This helps them decide whether they want you as their provider.”
Per Karram, phone conversations are one of the easiest ways to close that sale – if executed correctly. Here, also consider that you only have so much time to convince the listener before you lose their attention.
“This brings us to the next soft skill that agents need to pay attention to,” Edward Karram explains, “time management! This is a mile-a-minute business with cutthroat competition. You have a limited window to capture your prospect’s interest before they get lapped up by someone else.”
He continues, “What separates the good agents from the great ones is the ability to prioritize and manage time right at the onset of their career. Blocking time in your day is essential. So whether you need to use an online calendar or carry around a little black book to keep yourself on schedule, do whatever it takes.”
The entrepreneur has admitted that this is something a lot of agents, including himself at the start of his career, have struggled with. While there isn’t a quick fix to mastering this skill, over time, agents will develop a strategy that works best for them.
Edward Karram touches on another crucial skill that many agents seem to lack.
“Emotional intelligence! This speaks to your capacity to connect, engage, understand and sympathize with your prospects. Seldom is this taught to new agents. It also helps a lot because, once you master this, you will be able to understand why someone says “no” and subsequently, how to work around that,” Karram points out.
More on Edward Karram
Hailing from Alpharetta, GA, Karram’s influence has had a sweeping influence on the nation through his life insurance training program; SELL-U.
SELL-U focuses on imparting up-to-date techniques that help a whole new crop of agents conquer the latest challenges in the field.
It uses a combination of webinars, in-class sessions and one-on-one mentorship meetings with Karram himself, to give agents a 360 view of the field and help them master their craft, to the point where they can generate leads autonomously and 10x their book of business.
As an accomplished business advisor and entrepreneur, Edward Karram has had a very impressive career trajectory. His financial acumen led him to create SELL-U, an effective insurance training platform that lets registered agents hone their skills in final expense, mortgage protection, retirement planning and more. Under Karram’s counseling, agents are able to enhance their prospecting skills and create a bankable roster of clients.
Today, Edward Karram shares his insights on how to mitigate the struggles of selling mortgage protection insurance and how to successfully prospect in this arena.
Mortgage protection is a type of life insurance designed to take care of the insured’s mortgage obligations after their passing.
“If you can’t quite crack this amazing niche because you are unable to get in front of qualified prospects,” begins Karram, “or you’re buying leads that are recycled, reworked and milked to the bone to no success, then I have some advice for you. Let’s begin at the beginning.”
Edward Karram continues, “You have to understand that mortgage protection is a very, very powerful product. Why? Simple. For the average homeowner, a mortgage is their biggest financial burden, and taking that on is equivalent to taking on a huge debt.”
If the main bread earner were to pass, this debt then passes to the family. The businessman points out that, without mortgage protection insurance, the implications of that are catastrophic.
“Many homeowners choose to forgo this insurance altogether because there is no lack of urgency. They never think their family is actually going to need it,” Edward Karram says. “This is why it’s important to channel your efforts carefully. For example, most of your prospects might prefer to go with term life insurance instead. It stands to reason then that you want to zero in on clients who have health problems that would render term life insurance expensive and unfeasible.”
Edward Karram goes on to explain that this would make the agent’s job much easier. Mortgage protection insurance doesn’t require a medical exam and the coverage is available to any individual who owns a home.
So how do you go about prospecting? The businessman says it best.
“It’s integral to run your own insurance business as an independent agent who has multiple carrier options. Mortgage protection sales are very competitive. When you operate as an independent agent, you can access an array of insurance providers, and also enjoy the underwriting and pricing freedom that lets you increase the number of policies sold.”
Edward Karram points out an interesting fact. “When you‘re tied to a multi-tier marketing mortgage protection agency, you’re restricted to the one or two insurance firms to whom they owe their allegiance. This means you are forced to maintain quotas so as to keep those high-flying commission contracts. The result? You’ll find yourself pushing products that may not be the best fit for your prospect.
“Prospecting takes perspective,” Karram explains. “It also takes training. It’s always a huge bonus when you have someone on your side who can give you that from-the-trenches advice. This support is essential to augment your lead generation efforts.”
The businessman speaks from experience. Starting out in the financial realm and realizing that the lack of training was causing multiple agents to become disillusioned, he decided to create SELL-U; a training program that aims at restoring integrity, value and support into the insurance world. It gives agents a comprehensive understanding of business, sales, digital marketing, lead generation, and insurance basics.
Edward Karram passes his tell-it-like-it-is attitude to all agents who go through the program. He believes that by infusing trust and transparency into their work, agents will be able to build a viable book of business, off of which they can earn as much as 7 figures per year.
Edward Karram is a renowned public speaker, entrepreneur, and business coach, and has used his uncompromising ambition to transform the insurance landscape. Having successfully run construction companies and martial arts studios, the businessman has curated quite the resume.
He is the mastermind of SELL-U, the #1 life insurance training platform in the country that instills up-to-date techniques in sales, marketing, social media, lead generation and insurance fundamentals. To date, Karram has trained over 1,000 agents in the field and helped them own a wildly successful book of business.
The businessman entered the financial world with no training to rely on, eventually burning through three different Insurance Marketing Organization (IMOs) in the span of 12 months alone after witnessing multiple agents quit because of their poor earnings. Today, Edward Karram has some insights to share regarding IMOs and independent vs captive life insurance agents.
“An IMO is essentially a company that offers insurance products and services to agents,” says the businessman. “The level of services varies from one company to the next, and these IMOs act as the middlemen between the carrier and the agent.”
The business coach goes on to explain that while agents can access carrier contracts directly, the majority of competitive insurance carriers require them to work through an IMO to get their products. IMOs typically offer some form of training to help agents reach profitability and performance objectives.
Per Edward Karram, “As the very name suggests, an independent agent is not tied to any agency. They are completely free to enter into a contract with any firm they feel is good for business. This typically enables them to enjoy a higher commission on their contracts.”
On the other hand,” Edward Karram explains, “a captive agent is tied to an agency or company and is required to handle only the products chosen by that company. They earn a reduced commission as a tradeoff for the added training they receive from their agency.”
The business coach urges agents to carefully peruse the IMO’s Release Policy before signing on the dotted line.
“There are some IMOs that contract agents on the understanding of an Open Release. This means agents are free to walk at any time and take their book of business with them,” Karram elaborates. “Other IMOs have certain strings attached to their Release Policies. One such caveat could be that the agent’s book of business belongs to the IMO even if the agent chooses to leave.”
Edward Karram stresses the importance of doing comparative research before settling in with an IMO of choice.
“Be sure to cast your lot with an IMO that isn’t afraid to give credit where it’s due,” says Karram. “What do I mean by this? Well, for starters, make sure that the company is willing to provide a commission that rises as your performance rises. You work hard to grow your business, and the IMO must reward that effort with upper-level contracts for you to tackle down the road.”
What does the future have in store for IMOs, according to the businessman?
“The IMO distribution channel is seeing its fair share of changes,” Edward Karram muses. “Banks, for instance, are witnessing staggering growth, as they’re making the switch from variable products to indexed products, seizing a large slice of the pie.”
The businessman isn’t wrong. In 2017, studies showed that 60% of the FIA market was attributed to IMOs, but these numbers have been in rapid decline since.
“I have to point out though,” Karram says, “that IMOs aren’t down and out yet. We may see a number of mergers and acquisitions in the IMO industry so as to solidify their long-term viability.”
In light of these dramatic changes taking place on the insurance stage, Edward Karram has positioned SELL-U to offer registered agents the training they need to master their niche, whether that is retirement planning, final expense or mortgage protection.
SELL-U seeks to empower agents to own their book of business by connecting them with affiliate IMOs that offer top-level carrier contracts. Karram’s vision is to infuse trust and transparency in the life insurance realm, and help agents generate 7-figure income streams.
Founder and CEO of SELL-U, Edward Karram, is a compelling force in the financial realm. After owning and operating a slew of successful enterprises, Karram turned his talents to the life insurance business.
The entrepreneur witnessed firsthand the lack of training during his time as a top producer and agency manager at 3 different IMOs. Eager to help talented agents who have no mentorship to turn to, Karram built SELL-U; one of the fastest-growing training platforms in the country.
Today, Edward Karram shares with agents the finer points of closing an insurance sale, specifically how not to put too much pressure on the home stretch.
“One of the most important things, when you’re out in the field, is to not have ‘commission’ breath,” Karram begins. “What does that mean? Well, if closing that sale equates to being able to pay your rent or mortgage or insurance, you’re really not focusing on what is of value to your client.”
The entrepreneur follows up by explaining this mindset is counterproductive in that it severely hinders the agent from communicating to the client a product that works best for them.
Edward Karram continues, “Clients are intuitive. They can sense when you have dollar signs in your eyes and only care about what goes into your pocket. I have a couple of tips to mitigate this scenario so that you aren’t focused too hard on the numbers, but rather on the person in front of you.”
“I’m going to reveal an interesting little formula to measure success,” Karram begins. “Let’s say you have 10 leads, and out of those, you are able to schedule 6 appointments. What you want to consider is the number of doors that actually open when you drop by these appointments vis-à-vis the number of applications you finally walk away with.”
The businessman goes on to explain that you want to divide the total premiums generated from these appointments by the number of doors that opened when you visited.
“In the previous scenario, let’s say we got a $1,000 in premiums from our 4 applications for the 6 doors that opened. Divide 4,000 by 6, equalling just under $667.”
“This can’t be a standalone number,” Karram explains. “You want to run these over the course of a 90-day segment and see if you get an average of $667 per 6 doors that open. That’s what you have to internalize moving forward. When you knock on a door in the future and it opens, program yourself to think that $111 has already been deposited in your bank account.”
Edward Karram points out that this mindset spells success. The agent is then able to focus fully on the client, their concerns, their situation and help them draw a conclusion that makes financial sense.
“The operative word here is ‘financial’ sense,” the life insurance coach stresses. “It has to fit into their budget, their lifestyle. The agent must make the client feel like the product is going to prevent them from losing out in the future.”
Karram speaks to the concept of loss-aversion, namely the human tendency to prefer skipping a loss over acquiring a profit.
“Sometimes,” Karram says, “it’s easier to convince a client by showing them how much they stand to lose, over what they might gain.”
Karram has some advice for agents, “At the end of the day, you need to build value in you. How many times have you walked out with an application where the client doesn’t even remember the name of the insurance company? That’s because they’re not buying the company, they’re buying you. They need to be able to trust that the agent will hold their family member’s hand if it comes time to file a claim.”
The businessman urges once again that, ultimately, it’s about getting out of your head and steering clients through a series of steps to reach a decision that makes financial sense.
More on Edward Karram
Karram is the mastermind behind SELL-U; a comprehensive life insurance coaching program that takes agents through sales training, marketing, business fundamentals, social media and lead systems under the professional instruction of the greatest minds in the country.
Agents may choose to excel in mortgage protection, final expense, retirement planning and more, and under Karram’s mentorship, own a wildly successful book of business to the tune of seven figures per year.
As a widely renowned public speaker and business coach, Edward Karram‘s mission is to empower agents to become masters in their field, and infuse trust into the art of a life insurance sale.
Edward Karram is an entrepreneur from Alpharetta, Georgia, having owned and operated restaurants, martial arts studios, and construction companies, and curating a very impressive resume. He is the Founder and CEO of SELL-U, the fastest-growing life insurance training program in the country. Under his mentorship, registered agents are taken through the intricacies of business fundamentals, sales, telemarketing, and social media.
Upon completing the course, agents find that they are able to enhance their book of business, access quality leads on demand and generate a seven-figure income in as little as a year.
To get to where he is now, Edward Karram admits that he’s seen his fair share of challenges. Selling life insurance is an art unto itself; one that takes several years to master. Today, he shares his wisdom on selling term insurance versus whole life insurance.
Statistics show that term life represented 38% of the total policies purchased in 2015, however, the term life policy’s face amount was 69% against a whole life policy’s 31%. This discrepancy is attributed to whole life policy premiums being higher and offering a lower death benefit payout.
“When it comes to selling permanent or whole life insurance, the commitment you’re asking from the prospect is naturally much greater,” Karram points out. “It’s essential to highlight the unique benefits of this financial vehicle, the biggest being the tax breaks.”
The business coach goes on to say that when structuring their pitch, agents should highlight the fact that the prospect isn’t going to have to pay tax on dividends, capital gains or interests until they withdraw the policy. This basically translates into tax-free growth on their money.
“What sets apart a term and permanent life policy is the fact that the former is typically valid for a certain period, whereas the latter holds even after the policyholder’s death,” Edward Karram explains. “A permanent policy takes care of the spouse and children of the deceased.”
The businessman continues, “With term insurance, the policy expires at the age of 65 or 70, however, some providers do offer policies that extend up to 30 years after the decedent has passed.”
“This also factors into the way you sell permanent life insurance,” Karram says. “Different people have different motivations for purchasing insurance, whether that’s taking care of their family, leaving behind a legacy, offsetting estate taxes, etc. Your first order of business is to identify this motive and build from there.”
The entrepreneur explains that with permanent life insurance, reiterate to your prospect how it tackles the financial burden their family stands to inherit upon their passing.
If the individual’s motivation is financial stability during their lifetime, Karram encourages to draw the prospect’s attention to the fact that they can always borrow against the cash value of their whole life insurance policy should they find themselves in a financial crux in the future, or find another high-yielding asset they would like to invest in. Term insurance doesn’t allow borrowing of this nature.
“With term life,” Edward Karram explains, “policyholders have a financial asset that comes with a structured exit strategy. This makes sense for those individuals who want to put their savings into other high ROI assets. Permanent policies make more sense for people with a higher net worth, eager to make accommodations for estate taxes.”
“Term insurance,” Karram muses, “does come with its fair share of benefits. It replaces lost wages if the primary breadwinner passes, it can be converted to whole life if needed, it secures protection for divorce proceedings, it also covers a mortgage if one spouse passes prematurely.”
Edward Karram points out that there is still a lot of misinformation about term life versus whole life insurance, and this can often be a polarizing topic. He actively seeks to separate the fact from the frills, and guides agents through quality training and mentorship techniques. To date, the businessman has helped over 1,000 agents master their craft and 10x their book of business.
Edward Karram is an entrepreneur, public speaker and business coach based in Alpharetta, GA. Entering the financial world and witnessing the lack of quality training therein, Karram put his shoulder to the wheel to create one of the fastest-growing life insurance training platforms in the country.
SELL-U takes registered agents and financial advisors through the fundamentals of the business, social media, insurance, and marketing under the instruction of the most knowledgeable minds in the country.
As part of the program, Karram, Founder and CEO, provides strategic intervention and mentorship so that agents are able to perfect their craft and access valuable leads on-demand. His vision is simple. He encourages every agent to own their book of business and generate higher income streams by taking advantage of the digital world.
The businessman has some interesting insights to share on the matter of the elusive insurance sales pitch.
“The first step,” he begins, “is presentation! Having the right product won’t get you to the home stretch. You have to effectively convey that value to your prospects and get them equally excited about it.”
“There are certain things that delay the sales process. For instance, overwhelming prospects with complicated jargon,” Edward Karram points out. “For all your intellect, talent and skill, without a clear pitch, you’ve already lost.”
His advice? “It’s important, and I cannot stress this enough, to take the time to understand your prospect’s motivations, their current understanding of insurance and their future goals. Not only does this bode well for your sales pitch, but it will also help you establish a long-term relationship with them.”
The businessman makes a great point, especially when it comes to factoring in how much people already know about the business. Statistics show that 58% of millennials, 39% of Gen Yers and 29% of boomers have little clue about how much coverage they need or what kind of policy they should invest in. By knowing where the knowledge gaps exist, the agent is in a much better space to fill them.
Apart from due diligence, Edward Karram strongly endorses that every agent should personalize their pitch. “People are smart,” he says, “they can tell when you’re reading from a script and when you’re actually listening and addressing their concerns.”
Studies have shown that there is a significant lack of trust in the insurance business. Karram suggests that every agent’s first order of business should be to establish that trust and build on that.
“Selling insurance takes a little positive manipulation,” Edward Karram admits. “By that I mean, hit on certain pain points.” He points out that people have different motivations for purchasing insurance, that could be helping their family remain financially stable after they’re gone, replacing lost income, covering the estate tax their heirs will inherit, leaving a good legacy behind, and the likes.
“What you need to do is figure out their motivation, and turn that into a selling opportunity,” says Karram. “So, for example, ask your prospect a question like, ‘Have you thought about how your children will cover the estate tax upon your demise?'” Such a question hits home the urgency of buying a policy. Karram advises to follow that up with positive reinforcement like mentioning the pride associated with taking care of the family.
Per Karram, “You need to be someone who mentions a problem that your prospect is or will likely face and then swiftly follow that up with how you propose to solve that problem.”
More on Edward Karram
Having owned several businesses by way of restaurants, martial arts studios and construction companies, Karram has gathered a wealth of business acumen. He channels this same ambition into his life insurance endeavors.
Edward Karram‘s philosophies have helped over 1,000 agents master their niche and generate as much as seven-figures off of their own book of business. His training platform, SELL-U, rivals the kind of training one would receive at a Fortune 500 company.
Agents can choose to excel in any one of the training modules; mortgage protection, final expense, retirement planning and more, to develop their brand and generate quality leads. Under Karram’s guidance, students receive up-to-date instruction on the latest sales techniques, allowing them to become veritable masters in their fields.