 Welcome to Interest Agent Training. We're gonna talk about how can you avoid chargebacks? Okay, this is a topic that isn't fun to talk about. It is, it's negative, right? That word is negative, but how to avoid them is positive, right? So that's why today we're gonna talk about how to help you avoid them all together. Typically, typically persistency, about 14 month persistency is typically around 80%, right? Can be higher, can be lower. If it's phone cells, it can be higher, can be lower, depending on the agent, and if they're rookie, if they're new, if they're experienced, if they're great with people, everything in between. But I want, agents should know that chargebacks are going to happen 100%. It's not, it's inevitable, right? It isn't unavoidable, but there are some things that you can do to help your overall persistency and avoid some chargebacks. And the first thing, because I got several tips I wanna run through today, the first thing is you need to always be interested in doing what's in the best interest of the client, right? I think a lot of times, clients can feel where you're at, right? Where's your head at? Where's your heart at? Are you doing the right thing for them? Or are you just trying to grab a quick buck and run because they can feel that too, right? So, at the end of the day, I've always been good at not only physically selling like this, but training like this, that you should always be doing what's in the best interest of the client. Do whatever it takes to make them feel that you are doing what is best for them, right? And as long as you go into it like that, then it'll help the rest of these steps. But if you're thinking about how you can just earn a quick buck and you're thinking about you, you, you, you and you're selfish, and you don't think about them, someone's gonna be able to feel it, okay? So that's the first thing. I wanna jump into the appointment process because there's a couple of key pieces that can help avoid some charge backs, okay? There's really three key pieces inside of an appointment. The first one is you wanna warm up. You wanna make sure that you are building rapport and warming someone up. When I just jump into a cell, it almost feels like I'm just there to make a cell, right, or to grab a cell. And they know that's the case. You're there, you're a salesperson, you're there to make the cell. But it doesn't mean that you can't also warm them up immediately early in the appointment process and also throughout the call, right? Or throughout the appointment, okay? So making sure you're warming them up. Some prospects, you know, a few minutes of warm-up is plenty. And they're like, hey, let's get to the point, right? Then that's fine. Some prospects are, you know, they'll warm up, they'll warm up with you for, you know, freaking 40 minutes. And I'm like, all right, I gotta transition, okay, that's when I'll jump into the question. Hey, what, you know, hey, thank you again for your time today. What got you thinking about all this, right? So you can transition to the fact-finding portion. Warm-up's really important. The second thing, inside of an appointment to help with avoiding charge backs is to not oversell, okay? Now that doesn't mean, that doesn't mean that you wanna sell small policies. That also doesn't mean that you wanna sell with your own wallet, because that's not the case either. What you wanna do is, like you don't wanna sell everyone a $200 a month policy, just because that's the only thing that you pitch. You want to show them, I'm not saying you show them what they can afford because that is incorrect as well. It doesn't matter, right? If you're asking what can you afford monthly to pay for something like this, you're making them think small and you're gonna end up definitely underselling big time, and that's not the point either, right? Because you wanna maximize what you're able to sell without actually overselling. And the way I avoid overselling is I figure out what they need, right? If you're doing what's in the best interest and you're giving them what they need, then you're not underselling and you're not overselling. But if you give them a lot more covers than they need, or a lot less covers than they need, then you are overselling or underselling. But if you oversell, and you're just trying to grab the most amount of insurance possible, and you're not doing what they need, yeah, you'll make some big sales, but you'll lose some clients along the way. Because they'll be like, dude, why do you have 1.6 million dollars in life insurance and you have zero debt, you're not married, you have half a million dollars in the bank, and you simply wanna cover burial and final expenses, right? You see where I'm going with the logic? Okay, now there's a lot of reasons why you need 1.6 million or more, okay? But in this scenario, what we're talking about, this is why we're explaining this, okay? So selling what they need, focused on them, focused on them, right? They can fill that. The third part in the appointment to help avoid charge backs is the cooldown. That's my fourth step of my fourth step of the process. Most people forget about the cooldown when they are making a sale or they're in an appointment. A lot of agents will fill out the application, okay? What's your social security number, your beneficiary, et cetera, and then they'll fill out the application, they'll do the phone interview, they'll get them approved, and then they'll run, hey, we'll get you a policy, thanks for your time, have a great day, right? Instead, I like to take a good five or 10 minutes and cool down off of business after the appointment. And there's several reasons why I do that. Big reason is because their mind is off of sales, right? When I leave, they're not thinking about the sale or the business or the purchase. They're thinking about what an amazing do that is, right? But we're also, they're realizing, hey, he's not just here to grab a sale and run, he's here because he really cares and he's gotten to know me, he's a good person and I got along with him really well, or her, right, et cetera, okay? Because most people forget about the cool down because you're able to use those little things in some of the later stuff I'm gonna talk about to really help avoid some charge backs along the way, okay? Cool down is always a good thing. The next thing that I would encourage, and these are all just random like off the dome things that I've done over the last several years is I like to leave some type, I like to leave a business card magnet. For instance, there's agents in our local office here and one of them came to me last week and said, hey, I was with a Miss Mabel and I was trying to help her with her insurance and then I saw your business card magnet on the fridge. So what's the deal there? I don't wanna steal your business, what's the deal there? What do you have, how long has it been, what did you do, et cetera? And for that reason it's good, but also because if they're never gonna forget my name, they're never gonna forget my number. If someone else is trying to come in and lie and replace my business, which is a potential chargeback by knowing that they can call me, it can help avoid that, right? So by having something that is always on their fridge that they can't lose, I loved doing business card magnets, especially if you're doing face-to-face sales, I'm a big part of it, you can still do it over phone sales too, right? You easily could, but with face-to-face, especially business card magnet is huge because it's gonna keep your name top of mind, okay? The next thing after a business card magnet, okay, would be a thank you card. I think that you should send out a thank you card to every single prospect that you help after you're able to help them. Something I always did, something that, and I didn't have a lot of problems with chargebacks, I really didn't. It's because I did all these things I'm talking about, okay, business card magnets, a thank you card, and not thank you for your business, you know, signed Cody. That's boring, it's not unique, it's stupid, okay? Betty, because I always use Betty, I absolutely loved visiting with you. I can tell you have a big heart. Thanks for sharing the story about your daughter, Susie. I look forward to continuing to get to know you for many years to come. Thank you for your trust, right? In no way did I ever mention business at all because they know who you are, right? And then I'll throw in other business, or business card, business card magnet or whatever in there. But the point isn't to, the point is to thank them for their business in a less businessy way, if that makes sense, okay? So start to think about that, all right? Thank you card is another good one. Next thing is that I used to do a lot of is a monthly newsletter. So I would send out a monthly newsletter to all my clients every single month, a physical newsletter by mail. And this newsletter would have a recipe, you would have maybe a trivia, maybe an update, always a picture of me or a picture of me and my wife, a picture of me and my wife, my dog, something, right? So there's emotional human connection. It not only helps avoid charge backs, that helps you get referrals because once someone has that emotional connection with you, they don't wanna let you down. So in that instance, they're less likely to get rid of you and push you to the curb and replace you because they have an emotional connection with you, right? That's why I love pictures on cards, pictures on envelopes, pictures on letters, pictures on everything, because it's a facial recognition, emotional connection to you. So not only are you building that, it'll help avoid charge backs, it'll help you stay top of mind so that you get referrals all the time, which is why I love the monthly newsletter. And there's been several good pieces in this Dylan and Keith that you guys can reuse for future videos. The other thing outside of even referrals is that it's actually gonna earn you business too. I had someone that I wasn't able to help sell years ago and I added them to my newsletter and then I think three or four years later they reached out and said, hey, you've been sending us something and you've stayed in front of us for the last three or four years, we feel like if we're gonna buy insurance we should probably just buy it from you because you've done the best job and we've never even bought from you, right? You see the point behind that. So a newsletter, great way to stay top of mind and to build a emotional connection and a relationship because you're always in front of them. You're always reminding them of you and some agents are gonna hear this, all of this and think, well, I don't want them to remember me because then they're more likely to, it's almost like I'm gonna run out of the home after I make the sale because I don't want you to change your mind or as soon as I set the appointment I'm hanging up because I don't want you to cancel, right? If they're gonna cancel the appointment, if you're worried about them cancel the last 30 seconds of the call, then they're probably gonna cancel anyway. If you're worried about them, change of their mind while you're still in the home after you made the sale then they're gonna cancel later. I'd rather them cancel while I'm talking to them, right? Or tell me why they can't do something or show a lack of confidence in what we're doing. I'm not worried about losing the appointment, losing the sale or losing them as a client later. I'm just gonna do what I know is right and what's best to do and the rest will take care of itself and that's what always happens with this kind of stuff. It really does. Next thing is you need to constantly, especially if they're thinking about canceling a policy, you need to remind them why they did this, why they chose to do this with you to solve this problem. And if we do something, then it may not help solve that problem, right? When you're selling life insurance, there's several places that when someone's trying to cancel, they'll talk about the two year contestability period and how you don't wanna lose the time that you've invested. And they'll also mention cash value and how you've invested money, but you haven't got to that point yet and how you don't wanna cancel because you're gonna lose all the money you put in. And you know what I mean? So there's sales tricks for keeping people, like call centers are great at that stuff. So remind them of their why. And then, you know what? If they're gonna not keep me and it's in a really important client or you don't like charge backs, you don't wanna avoid it, then go see them. Make time to go see them. I'm not saying you wanna fill your week with that type of activity every week, but if it saves business, then it keeps money in your pocket. And it's harder to say no in person than it is over the phone. You can't let them cancel through text. You can't let them cancel through email. You need to talk to them, okay? Just show up with their door, right? Something may be going. And also, another big thing is don't assume anything. Most agents say, well, they're thinking about canceling. I guess they don't like me anymore. Well, maybe they changed banks and they didn't let you know. Maybe another agent lied to them. Maybe the other agent does something stupid and if they mess this up and you let them leave, you're doing them a disservice like the other agent, right? Don't ever assume that they don't wanna do business with you or they don't wanna keep you or that they're just broke, they don't have the money or they're lazy or they don't want it, like you are the salesperson. So just be proactive about keeping them, okay? So that's a ton of ideas on how to help avoid charge backs. They're inevitable, they're gonna happen, but there are things that you can do along the way to try to keep them. Hey, you love this and you're like, dude, what are the mistakes that I don't wanna make and how do I avoid them, right? I'm gonna go over this top six mistakes agents make and how you can avoid making them right here. Click on that video, see you over there. Hey, six mistakes, six mistakes that a lot of agents make. I wonder if you're making them and how to avoid them. So I'm gonna start out by letting you.