by joven222 » Thu Mar 26, 2009 03:54 pm
Hi,
I have received this tip to my email and i think this can be a good tip for all insurance agents.
How To Get Off To A Quick Start Selling Life Insurance And Annuities!
Let’s put some things into perspective. Most of the newer (less experienced) insurance agents we talk to are putting the cart before the horse. They are buying leads, setting up a direct mail system, or running ads in the newspaper, before they’ve made any money.
But, what’s even worse, they are getting those leads without knowing what to say to get the appointment, let alone turn that appointment into a sale!
They end up wasting a lot of time, and money... And, most of them are broke and out of the business within a year! And, those few who do survive are earning less than $30,000 per year after expenses.
Understanding The Problem...
Consider, whether you are buying leads, using direct mail, sending post cards or running ads, most sales leads will cost you $20 or more. Most agents are lucky if they are setting 3 sales appointments for every 10 leads they get. It’s partly because of the low quality of the leads they are getting, and partly because they don’t know what to do or say to set the appointment. Then, if they are lucky, they are closing 2 sales for every 10 appointments.
This means they need 33 leads, to get 10 appointments, to close 2 sales. They are spending $333 for each sale they make. (33 leads x $20 = $666 / 2 sales + $333) If their average sale is around $600 in commissions, then over half of their commissions are going to lead generation costs.
Is it any wonder that most agents are frustrated with the leads they are buying, being given and/or getting from their lead systems! And, they are always looking for something better!
It’s a major reason why 85% of new agents who come into this business are broke and out of the business within 18 months. And, why 90% of the remaining agents are earning less than $30,000 per year, after expenses!
There Are Better Ways...
It starts with you learning how to attract a better quality prospect. Then, it’s learning what to say, to help those prospects to see and understand their problems they are facing, so they want to meet with you! Finally, it’s learning how to conduct a good thorough fact-finding interview so you are closing more sales appointments and making larger sales!
If you want to get off to a fast start and earn the money you are capable off, then you’ll want to…
*Identify who are your ‘Ideal’ prospects! Who really needs your primary product right now? Who are the people you have the best chance of setting an appointment with, and closing a sale with, right now?
*Determine what problems you can solve for your ‘Ideal’ prospects! If people don’t see and understand the problems they are facing, and how you can help them, is there any reason for them to meet with you, let alone buy from you?
*Focus your marketing message on solving your ‘Ideal’ prospects problems! You’ll want to set up multiple ‘low cost’ lead systems to constantly deliver your special message to your ideal prospects, to attract a steady flow of them to you!
*Learn what to say and do to get your ‘Ideal’ prospects to want to set and appointment with you! It’s all about you asking the right questions to help your prospects see and understand their problems, and how you can help them, so they want to meet with you!
*Learn how to discover your prospects' innermost desires, and use that knowledge to craft an offer that is irresistible to them! People don’t buy what they need! They buy what they WANT!
*Structure your business so that you become the advisor people want to see! (Instead of being the salesperson people dread seeing.) And, within a year, you’ll be getting the majority of your appointments and sales from your existing clients, endorsements and referrals… and they will be calling you!
Hope this can be helpful.
I have received this tip to my email and i think this can be a good tip for all insurance agents.
How To Get Off To A Quick Start Selling Life Insurance And Annuities!
Let’s put some things into perspective. Most of the newer (less experienced) insurance agents we talk to are putting the cart before the horse. They are buying leads, setting up a direct mail system, or running ads in the newspaper, before they’ve made any money.
But, what’s even worse, they are getting those leads without knowing what to say to get the appointment, let alone turn that appointment into a sale!
They end up wasting a lot of time, and money... And, most of them are broke and out of the business within a year! And, those few who do survive are earning less than $30,000 per year after expenses.
Understanding The Problem...
Consider, whether you are buying leads, using direct mail, sending post cards or running ads, most sales leads will cost you $20 or more. Most agents are lucky if they are setting 3 sales appointments for every 10 leads they get. It’s partly because of the low quality of the leads they are getting, and partly because they don’t know what to do or say to set the appointment. Then, if they are lucky, they are closing 2 sales for every 10 appointments.
This means they need 33 leads, to get 10 appointments, to close 2 sales. They are spending $333 for each sale they make. (33 leads x $20 = $666 / 2 sales + $333) If their average sale is around $600 in commissions, then over half of their commissions are going to lead generation costs.
Is it any wonder that most agents are frustrated with the leads they are buying, being given and/or getting from their lead systems! And, they are always looking for something better!
It’s a major reason why 85% of new agents who come into this business are broke and out of the business within 18 months. And, why 90% of the remaining agents are earning less than $30,000 per year, after expenses!
There Are Better Ways...
It starts with you learning how to attract a better quality prospect. Then, it’s learning what to say, to help those prospects to see and understand their problems they are facing, so they want to meet with you! Finally, it’s learning how to conduct a good thorough fact-finding interview so you are closing more sales appointments and making larger sales!
If you want to get off to a fast start and earn the money you are capable off, then you’ll want to…
*Identify who are your ‘Ideal’ prospects! Who really needs your primary product right now? Who are the people you have the best chance of setting an appointment with, and closing a sale with, right now?
*Determine what problems you can solve for your ‘Ideal’ prospects! If people don’t see and understand the problems they are facing, and how you can help them, is there any reason for them to meet with you, let alone buy from you?
*Focus your marketing message on solving your ‘Ideal’ prospects problems! You’ll want to set up multiple ‘low cost’ lead systems to constantly deliver your special message to your ideal prospects, to attract a steady flow of them to you!
*Learn what to say and do to get your ‘Ideal’ prospects to want to set and appointment with you! It’s all about you asking the right questions to help your prospects see and understand their problems, and how you can help them, so they want to meet with you!
*Learn how to discover your prospects' innermost desires, and use that knowledge to craft an offer that is irresistible to them! People don’t buy what they need! They buy what they WANT!
*Structure your business so that you become the advisor people want to see! (Instead of being the salesperson people dread seeing.) And, within a year, you’ll be getting the majority of your appointments and sales from your existing clients, endorsements and referrals… and they will be calling you!
Hope this can be helpful.
Posted: Fri Mar 27, 2009 06:56 am Post Subject:
I've always felt that buying leads don't worth what they cost. Lead generating agencies often sell these leads to multiple agents. So, you may end up competing with several others for a business. They often even rotate old leads that some other agent couldn't convert. Therefore, you may end up prospecting a client who is wary of what you have to say.
Thanks Joven, I'm sure that it'd prove worthy to many of our agent friends.
Posted: Fri Mar 27, 2009 09:03 am Post Subject:
Identify who are your ‘Ideal’ prospects!
It's sometimes the biggest challenge for you. At times the initial conversation seems so much in favor of your cause, that you mistakenly assume it as a closing opportunity. So, it's high time that you remain sensitive whenever you're trying to be pushy with your prospect.
Posted: Fri Mar 27, 2009 03:59 pm Post Subject:
Most new agents think this biz will be easy. Without good product knowledge and a solid game plan that is executed properly there is no chance of success.
We use Voice Broadcast to target small business owners with 0-6 employees for Life & Health.
With practice and a thick skin it's not hard to achieve 6 or 7 to 1 on your money.
Take a look at our site and if you have any questions just give me a shout.
LiveLeads360.com
Link deactivated by moderator
Posted: Fri Apr 03, 2009 02:34 pm Post Subject:
I really like the point about setting up a low cost lead generating. There are many ways to do this but over time they tend to generate many more high quality leads.
Some of these methods, such as b2b (business to business) walking and talking, putting out fliers, and are kind of time consuming and require constant activity to be effective but are good methods of generating income for your insurance business quickly.
Other methods such as online social networking and SEO for a website take longer but do not require as much of the constant activity that face to face methods require. These are almost like developing an online business asset.
Thanks
Mac
Posted: Mon Apr 06, 2009 01:18 pm Post Subject:
Identify who are your ‘Ideal’ prospects! Who really needs your primary product right now? Who are the people you have the best chance of setting an appointment with, and closing a sale with, right now?
A pretty long but a wonderful post..I want to say something on the above lines.
You have to identify those who are really interested in your products. Keep your eyes and ears open. Sit back and try to concentrate that for whom you have designed your product. What is the probability that someone who will have a look at it will buy it for sure. Is it good enough that 10 out 0f 100 will buy this.
These issues need to be thought upon and then you are ready to succeed here.
Posted: Wed Apr 15, 2009 12:29 pm Post Subject:
Really nice tips and important points .I liked then and they were very important
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