Succeeding with “enhanced” benefits, which for decades have been known as voluntary benefits, involves a super simple strategy: It’s all about setting up a dedicated time with your prospect or client to discuss how these offerings fit directly into their total benefits strategy and overall employee experience.
Forward-thinking benefit brokers get it. But up to 95% of our peers sadly take the wrong approach. As a result, they always hear, “No.”
Here’s a recent example of how things can go horribly wrong. I had multiple conversations-turned-training-sessions with a broker who proactively sought me out. All he had to do was set up an introductory meeting between his existing group client and me. I even provide a simple e-script that our successful client partners always use — alas, he chose not to use it.
The purpose of our meeting was to make enhanced benefits and group health benefits part of one comprehensive strategy. I even encourage brokers like him to use our complementary, white-labeled services and refer to me as their Director of Enhanced Benefits, VP of Employee Engagement, Voluntary Vice President, or whatever title they like, to show we are on one unified team.
Read more:
He said he was all-in and understood his mission was to simply set up the meeting and let me take it from there, but then I got this email: “Eric, I asked my client if they were interested in discussing voluntary benefits and potential onsite education, but unfortunately, they gave me a sharp, ‘No,’ and I didn’t push back. I’ll continue to ask around, and we’ll get the next one!”
I actually get text messages, e-mails and calls like that more often than I’d care to share. As salespeople, we need to direct the client where we need — and want — them to go. In short, we must control the conversation. When you ask a yes-or-no question about something unappealing and boring, such as employee-funded voluntary benefits, you’re always going to get told, “No.” If you’re going to continue to do it this way, please just stop wasting your time. Don’t even bother.
A far better approach is to sell the staid and outdated voluntary benefits moniker for what it truly is — or at least can be: enhanced benefits that complement core offerings. When thoughtfully integrated, they pack a powerful punch.
Read more:
Say you’re looking to buy a new car. The salesperson is going to ask you questions and do everything possible to get you into a car that day, right? They’re going to point you in every direction based on what you say you have interest in. As the consumer shopping for the car, you’re in charge.
But as soon as you commit to the purchase, you’ve completely lost control. That salesperson is now in charge. They’re going to direct you where they want you to go. Wait here for the finance manager, sit here while we do this, stand there while we do that, sign, sign, sign — and then you’re finally done. As the consumer, all you can think about is driving your new car off the lot and posting pictures on all your social media platforms to show everyone your shiny, new toy.
Believe it or not, brokers must realize they need to be the car salesperson after the client has already agreed to the original purchase: health benefits. Employers pay you as their broker to give them unbiased advice and consult on all things employee benefits. Rather than asking if they’d like to go over a certain thing or a specific strategy — the answer is typically “no” — you need to assume they will.
It’s not, “Hey, would you be interested in…?” It’s, “Hey, I need to set up a meeting for me and my vice president of employee engagement to review the custom strategy we put together that will greatly increase your engagement, enhance your benefits, lower your costs and help your employees in insurmountable ways. Is next Tuesday good or is Thursday better?”
Read more:
It’s an assumptive thought on the part of the broker that, “You pay me a lot of money, Mr. Employer, to give you the best advice to do what’s best for you and your employees. I’m telling you we are doing this. I’m not asking; I’m telling!”
I certainly never tell brokers to be so blunt or abrasive, of course, but the reality is that when you’re assertive and you don’t make it a question, then ultimately good things happen — it just plain works. It comes down to being coachable as a broker. And once you become coachable, you’re in turn better positioned to guide your clients to the best decision for their business.
