10 Effective Prospecting Tips for Insurance Agents
10 Effective Prospecting Tips for Insurance Agents
If you
find insurance prospecting harder than you imagined, here are a ten prospecting
tips to make your efforts easier and more effective.
10 Effective Prospecting Tips for
Insurance Agents
1. Use every lead generation strategy in the book.
3. Specify exactly what you do and who you want to work
with.
4. Create a referral rewards program.
5. Make sure your sales letters get read.
6. Prepare for and overcome objections.
7. Use opening lines that create momentum, not friction.
8. Always include these two factors with your follow-up.
9. Find and cultivate every competitive edge you get.
10.
Embrace technology and save countless hours of hard
work.
1. Use Every Lead Generation
Strategy in the Book
A highly
admired sales coach was once asked what the best method to generate leads is.
His answer? There is no one great method. There are, however, hundreds of ways
to generate leads. The more you use, the more leads you’ll generate.
These 14 strong prospecting strategies from
Bryce Sanders (president of Perceptive Business Solutions) are great ways to
diversify your lead generation strategy. One example
is "cold walking". It’s surprisingly effective, especially when
you visit small businesses or office parks. It gets you outside. You get
exercise.
·
The Pro: It’s a low cost strategy. Good in primarily urban areas.
·
The Con: The
name is terrible. It sounds like door-to-door sales.
·
The Work Around: Use it in support of your upcoming seminar. Deliver
invitations and tell them about it.
2. Avoid Internet Roadblocks
Look back
to twenty years ago and nobody used the Internet. Flash forward to today and
every insurance agent has their own website competing for prospects’ attention.
How can you get your website to dominate?
Gary
Savelli, an independent agent and consultant, recommends two critical things:
·
Building
a strong online brand
·
A
well-positioned spot in the search engines
In
addition to this, Gary also recommends these 7 specific copy and design
recommendations for attracting more leads via the Internet.
3. Specify Exactly What You Do
and Who You Want to Work With
Insurance
agents typically offer more than one type of coverage. While this diversifies
your portfolio and can make you more business, it doesn’t mean you should be
marketing yourself as such.
As the
saying goes, “good at everything, great at nothing.” You can expect your
prospects to think the same when finding out you offer multiple types of
insurance. Instead, aim to follow Marty Agather’s advice of positioning
yourself as a specialist.
Find out
exactly what he means by this in his useful article here.
4. Create a Referral Rewards
Program
Yes,
referral programs are so typical in the insurance world it’s almost a turn off
for prospects. The reason, however, isn’t because they don’t work. It’s because
they aren’t done right.
When used
with finesse, a referral program can literally become a fresh fountain for new
leads on a daily basis. This article shows you how to do
just that.
5. Make Sure Your Sales Letters
Get Read
Direct
mail sales letters are one of the most efficient, effective ways to prospect
for new insurance leads. Unfortunately, the way most agents approach direct
marketing makes it seem otherwise. Boring, formal writing is the likely
culprit.
If your
sales letters don’t get opened – and read – you’re done. Follow these tips to ensure that your
prospecting materials get results.
6. Prepare For and Overcome
Objections
If you’ve
prospected for some time, you know the typical objections you’ll face. Planning
for this and being ready for a way to destroy these blow offs is essential for
any successful prospecting campaign.
Mike
Brooks, sales trainer, offers three of the top insurance sales
objections and how you can jump right over them. For example,
·
Objection
One: "I'm happy with who I work with now"
"I'm glad to hear that __________, and I'm not here to come between the
relationship you have with your current broker. Instead, I'm only interested in
making sure you have access to the best new vehicles to fit where you are in
your life now. You see, the issue with most insurance is that people tend to
buy it and forget about it. And the problem with that is that life, situations
and responsibilities change and in most cases the insurance coverage gets
neglected.
Let me ask you this: When was the last time you had someone look at your
existing coverage and compare it to what's now available based on where you are
in your life today? Well here's what I'm prepared to do for you - I'll compare
your current coverage and your current needs with what's available today, and
if you have the best coverage at the best rates, then I'll tell you so. And if
I have a better vehicle at a better rate, and it makes sense to you, then you
can decide what to do. Either way you'll win. Is that fair enough?"
7. Use Opening Lines That Create
Momentum, Not Friction
What you
say during the first interaction with your prospects will have more influence
on your success than anything else. It sets the stage for all future
interactions.
For this reason, it is imperative that you start off
on the right foot.
Your goal
should be to pique their curiosity and build enough momentum to spur continued
conversation. Try these 8 great opening lines to
ensure success.
8. Always Include These Two
Factors with Your Follow-Up
It’s
startling how many insurance agents fail to adhere to these two tried-and-true
elements when prospecting. Maybe it’s lack of time. Maybe it’s stress. Whatever
the case, do everything you can to make sure you’re not forgetting these two
critical factors for success.
Find out
what these two factors are and how to use them here.
9. Find and Cultivate Every
Competitive Edge You Can Get
Prospecting
is hard. It takes consistent effort, speed, and perseverance. And when you’re
tied up with proposals, quotes, and other time-intensive tasks, it can be
impossible to give prospecting everything you’ve got.
That’s
why finding every way to streamline your funnel is key. Following these three sales-streamlining
recommendations from Jason Kulpa at IA Magazine is
a great way to get started.
10. Embrace Technology and Save
Countless Hours of Hard Work
Prospect
targeting and data management used to be a time-intensive task required
additional assistants to get the most out of. Nowadays with sophisticated CRM software technology these tasks
can be completed in seconds.
Equipping
yourself with advanced software for email marketing, customer relationship
follow-up, quoting, and data management allows you to focus on what’s most
important: pleasing your clients.
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