The fundamental truth about selling is that most of the time someone must lose for you to win. Other sales techniques and coaching methods typically ignore this reality and concentrate squarely on the dynamics between the buyer and the seller. They ignore a critical part of the equation - the incumbent provider. And this is what The Wedge is all about.
The Wedge is a sales strategy that is based on one simple principle: there are three people in most sales engagements - you, the prospect, and the current vendor. To win the business, you have to able to break the relationship between the vendor and the prospect. If not, you will lose.
A salesperson that currently has an account is in the driver's seat. He or she already has the relationship with the prospect and is going to do everything possible to keep the business. You must therefore drive a wedge between your prospect and the provider. You job is to dislodge that relationship. In other words, you have to get your competition fired.
How? You can't go in and trash-talk your competitors and list all the bad things they have done in the past year or so. That route will most likely get you fired! The challenge is to help our prospect see they are being under-served by your rivals, without criticizing your competition, and leading your prospect to decide on their own to switch their business to you. The quicker brokers learn how to do that, the sooner they can start winning larger, more profitable accounts.
To learn more about our insurance sales training, which includes The Wedge training, check out iWinBiz.com
