PHONE CALLING
Many insurance sales managers have their insurance reps making phone call after phone call attempting to get appointment leads. It is very difficult to ask someone if they want to buy more insurance. Very, very few will answer yes to that question The insurance sales manager tells you that the more appointment you make the more sales that will result. You are told the "magic trick" of the trade to get leads. Ask the person you are calling to allow you to give them a quote. Asking for quotes gets more yes response than the more direct approach.
BUYING INTERNET LEADS
Companies that sell leads to insurance representatives often use the same approach. They use emailing, phone calling, and even television commercials. Their approach is to compare rates. Stop and analyze the person that goes to an internet site requesting a cheap insurance quote. They are shoppers. Some of them use the internet search engines and side ads to request quotes from a dozen companies. To the internet companies that sell you the leads, these are called exclusive leads. (Even though a dozen of this now identical exclusive leads exist)
INSURANCE REP COSTS
Figure time being worth around $15.00 to $20.00 an donate car Since so much time is spent on trying to obtain leads, little is left for selling. Therefore, life and health insurance sales people in their first few years average an income of $24,000 to $30,000. This amount often is reduced by 25% or more because there is usually no company reimbursement for expenses. Expenses for gas, car, car maintenance, clothing, lunches, and leads add up very quickly. There is a gigantic difference between a income tax write off and yourself paying for necessary business needs
WHY BOTH LEAD SYSTEMS USING INSURANCE QUOTES ARE JUNK
You can either work hours to obtain leads, or buy them from an internet lead company.Either method of obtaining leads is going to be very costly, time consuming, and producing terrible results. These prospects are looking for quotes. This means they are shoppers and not immediate buyers. You are told that the first agent to get the appointment gets the sale. WRONG.
After maybe 5 or 6 presentations one of these prospects might make up their mind to buy, and occasionally it is you who is chosen.. They are buying on price only. Well these purchasers, next year might drop the policy for a lower price one. You are being controlled, Even when you think you are successful. They bought your lowest cost policy, where you make the lowest commissions.
Stop and figure your costs. Let's say the lead company charged $30 for this exclusive lead, or you spent two or more hours on the phone acquiring it. Next, add $10 for gas and car expenses. Do not forget the time of driving and giving the appointment time of 2 hours at $30 value. Leaving the driving out, it still adds up to $40.00. Your closing average is one in five or 20%.You sell a cheap life insurance plan for $30 monthly, and receive 60% commission. Total expenses of 5 selling attempts at $40 equals $200.00, your sales commission equals $216.00
THE END RESULT ON INSURANCE QUOTES
If you used phone prospecting you spent 3 hours for one prospecting appointment, and for 10 appointments you used 30 hours. Working 50 hours on prospecting and appointments earns a whopping $32.00 after expenses. Using the internet exclusive lead program would have eliminated your prospecting. Nonetheless, now your sales just to four weekly. Using the internet leads, selling $1,512 weekly in premium and $78,624 yearly in premiums, makes you sound like a pro. Analyzing the figures, now deduct all those expenses. Reality shows you better off working a minimum wage job.
SELL INSURANCE CORRECTLY
Never ever go on an appointment again when a prospect wants a quote. Those leads are for misguided losers. Unfortunately, the health and life insurance industry already has thousands and thousands of these representatives. They have been brainwashing you to stay on a sinking ship. JUMP OFF NOW, You have to exclusively talk to prospects that have a wound you can expose and then close the gap just where your product will cover the need.
These prospects are buying belief in you and your product, the price is secondary. Experienced insurance reps often show them two plans, one with few benefits and one deluxe. Most sales result in the client choosing the higher cost plan with the most benefits. Imagine the change you can make for yourself. Eliminating prospecting, learning a flexible presentation, never giving quotes, and working with the right prospects will make a dynamic change in your career.
You now can still work 40 hours weekly and quickly increase your closing ratio to 50%. See 12 prospects, sell 6 plans that average $700 a year and collect an average of 65% commission. Take a look at the new results. You will have 6 sales worth $455 each. If better quality leads cost $45 each, and gas $10 per appointment, you net a super $2,070 a week. The earnings of an insurance superstar, not even selling sophisticated estate planning services. That simply you jumped from the bottom 45% way up to the top 10%.
WHAT WORKS
No telephone soliciting. You have two choices. The first is to find a very refined prospect list, where you know enough information about your prospects to match the couple insurance products you sell most. From there you write a compelling sales message for an oversized postcard. Many internet articles can assist you on this. Make sure you mail it BULK MAIL. A qualified response will cost you from $35.00 to $50.00 each.
The other option is an internet lead from a reputable company. You may have to test a couple sources to check for quality of the prospect and integrity of the company. For these, high earning insurance reps pay from $35.00 to $60.00 each. NEVER buy cheap leads.
Well published author, Don Yerke likes to concentrate on what you don't know or what no one else dares to print. Tell it like it is. The website address is href="agentsinsurancemarketing.com">agentsinsurancemarketing.com Get your FREE 160 page Ebook on self confidence (details on 2nd page)
