by joven222 » Fri Jul 11, 2008 05:25 pm
Hello,
I have a friend that is new to life insurance selling and he ask this question. How can he market himself to be effective in insurance selling. He feels that it seems he lacks potential clients as he stays longer in the industry. The only clients he has are his relatives and friends. I have given him some simple advice but I know bringing this up to the community can help him become a better life insurance agent.
In your opinion, how can a new life insurance agent penetrate a good and potential market and how can he improve his productivity in the life insurance industry. Given the fact that life insurance is one type of policy that is not easy to sell.
Your opinions are greatly appreciated.
Thanks a lot
I have a friend that is new to life insurance selling and he ask this question. How can he market himself to be effective in insurance selling. He feels that it seems he lacks potential clients as he stays longer in the industry. The only clients he has are his relatives and friends. I have given him some simple advice but I know bringing this up to the community can help him become a better life insurance agent.
In your opinion, how can a new life insurance agent penetrate a good and potential market and how can he improve his productivity in the life insurance industry. Given the fact that life insurance is one type of policy that is not easy to sell.
Your opinions are greatly appreciated.
Thanks a lot
Posted: Thu Jul 24, 2008 04:12 am Post Subject:
Actually the opposite is true as far as ROI (return of Investment).
B2B and calls have the best conversion rates and require less monetary investment but a heavier time investment. As far as selling over the phone, I do not do that.
Face to face appointments allow me to properly explain policies and allow me time to answer the customers questions. This results in a higher retention rate and better comissions. This also provides me with much more referrals.
Networking and advertising are costly but require a low time investment.
Networking consists of doing favors in return for favors, and advertising costs serious real world money.
But with all of them working together, It creates great revenue for me. :D
Posted: Tue Jul 29, 2008 07:12 pm Post Subject:
a cost effective way to attract new business is over the internet. Many agents are reticent to move into the world wide web realm and are continuously drawn to the conventional methods of marketing like cold-calling. tell your friend to research methods of internet marketing to attract new, qualified leads. there are may books and many places on the internet to learn about marketing this way.
Posted: Thu Jul 31, 2008 06:11 am Post Subject:
Well, whether you do your marketing business on phone o face to face depends a lot on how much profit or ROI(Return On Investment) you are expecting. Marketing through phone is cheaper but it also gives less return on investment. Face to face marketing requires both time and money but you can expect much better ROI.
Posted: Thu Jul 31, 2008 03:21 pm Post Subject:
tusharagg87, you're certainly right about the plusses and negatives of both phone and face-to-face marketing. but there are an abundance of other methods of marketing that are quite cost effective that do not require making cold calls or going door-to-door. i think it's all about trial and error and creativity, finding out what works best for you and always seeking ways to expand and increase your bottom line.
Posted: Sun Aug 03, 2008 12:53 pm Post Subject:
A successful agent has to do and be a lot of things. One of the most important is the ability to learn and adapt.
I started in this business in 1985 using cold calls to find clients and then meeting with them across their kitchen tables. Now I use the Internet to find clients, or more accurately to allow clients to find me. I've learned SEO, some web design and a couple of programming languages in order to do this. Not everyone will or should do exactly what I've done.
However, without the ability to learn and adapt, you will be eventually be using the techniques that worked last year instead of the ones that work well today.
Posted: Mon Aug 04, 2008 07:28 am Post Subject:
thanks for that piece of advice tenetl.....i hope everybody will be benefitted from it....Good work....keep posting
Posted: Mon Aug 04, 2008 06:43 pm Post Subject:
I think it is important to study sales and marketing continuously and incorporate what you learn into your selling. Treat your clients well and you will get referrals - especially if you let them know that you accept and appreciate referrals.
Alston - it's great that you are using the internet to get leads to come to you! More and more agents are using the internet.
Posted: Sat Aug 09, 2008 12:21 pm Post Subject:
In insurance selling, the 2 primary sources of prospects are natural markets and referred leads.
While developing clientele within natural market, a new agent should also start getting referred leads from his friends and relatives. This is to pave way for him to expand beyond his natural market because sooner and later he will exhaust his natural market.
Getting referred leads is one of the most effective ways for a new agent to penetrate a good and potential market.
Posted: Thu Sep 25, 2008 05:15 pm Post Subject:
Insurance products are intangible. Only agents are visible to the customers. As such, marketing ourselves is important. Agents must first sell themselves before selling the products.
While many people are doing marketing, it is branding that makes one separate oneself from the rest. Branding is more than creating awareness, it is about making people recognize that you have something unique to offer to them.
Branding is about giving people enough reasons to consider getting your products and services instead of getting them from your competitors.
Posted: Mon Oct 20, 2008 02:37 am Post Subject: marketing types all agent should have
passive and active.
Passive = advertiseing internet web page, yellow pages,, stuff like that
active= networking, reffreals, cold calls,
you should have at least 3 of each type working for you at all time.
It works for me.
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