- Staff
- #11
thinking your not getting the $20,000.....
$20,000 is on the Line!
- Thread starter DiegoInsGuy
- Start date
Is this 300 in growth or 300 written?
Can he realistically handle writting 100 policies a month? That can be a huge challange unless you have staff to help pull this off.
Start with a bit of honesty with yourself. You can't do enough prospecting starting now and policy selling to get there if you haven't been doing something close to this historically. This means you have to farm out the prospecting part to even come close, then you run the appointments.
Lets explore some numbers for a second....
Have 5 appointments a day, 6 days a week, 30 appointments a week. Sell 20% of them (might be a bit of a stretch), this is 6 households, figure 2 cars per household, 12 cars per week, 50 per month, 3 months = 150 cars and some misc home policies.
You are half way there using some optimistic numbers. To get the other half, you either need a producer, OR a different method.
Only real wholesale method I know of for auto policies is marketing to used car lots. This is much more difficult than in the past AND it takes some time to ramp up. Most used car lots can lead to 10-20 policies per month, so you'll need 5-10 lots sending business your way. This is VERY heavy service work business, keep that in mind.
Now, I'm assuming this is basically one guy, maybe with some office help, writing perhaps 20 policies a month now. If the agency is larger, it would obviously help a lot!!!!
Carriers love these contests. Agents scramble for the bucks, but the goal is just a bit out of reach. Carriers get a lot of policies but their payouts aren't as much as they could have been. I do assume there are other target payouts available, so its all good.
Dan
Can he realistically handle writting 100 policies a month? That can be a huge challange unless you have staff to help pull this off.
Start with a bit of honesty with yourself. You can't do enough prospecting starting now and policy selling to get there if you haven't been doing something close to this historically. This means you have to farm out the prospecting part to even come close, then you run the appointments.
Lets explore some numbers for a second....
Have 5 appointments a day, 6 days a week, 30 appointments a week. Sell 20% of them (might be a bit of a stretch), this is 6 households, figure 2 cars per household, 12 cars per week, 50 per month, 3 months = 150 cars and some misc home policies.
You are half way there using some optimistic numbers. To get the other half, you either need a producer, OR a different method.
Only real wholesale method I know of for auto policies is marketing to used car lots. This is much more difficult than in the past AND it takes some time to ramp up. Most used car lots can lead to 10-20 policies per month, so you'll need 5-10 lots sending business your way. This is VERY heavy service work business, keep that in mind.
Now, I'm assuming this is basically one guy, maybe with some office help, writing perhaps 20 policies a month now. If the agency is larger, it would obviously help a lot!!!!
Carriers love these contests. Agents scramble for the bucks, but the goal is just a bit out of reach. Carriers get a lot of policies but their payouts aren't as much as they could have been. I do assume there are other target payouts available, so its all good.
Dan
- Thread starter
- #14
- 226
Thanks Dan.
Its not my gig. I was basically asking for him. He is a 1 man show but he has access to about 5 csr's that can help him produce.
The bonus is tiered, meaning that he can do 150 apps and maybe only get 10k.
The bonus is based on growth and thats why I said 300 policies vs the 250 that the company actually wants, the extra 50 would help with any policies that were dropped/cancelled.
Anyways, it just sounded like even if you spent the entire 20k bonus on buying leads it's free marketing money.
Question is can 20k of marketing money bring in 300 auto policies in 3 months?
He is a great agent, good at sales. So I hope he makes it.
Its not my gig. I was basically asking for him. He is a 1 man show but he has access to about 5 csr's that can help him produce.
The bonus is tiered, meaning that he can do 150 apps and maybe only get 10k.
The bonus is based on growth and thats why I said 300 policies vs the 250 that the company actually wants, the extra 50 would help with any policies that were dropped/cancelled.
Anyways, it just sounded like even if you spent the entire 20k bonus on buying leads it's free marketing money.
Question is can 20k of marketing money bring in 300 auto policies in 3 months?
He is a great agent, good at sales. So I hope he makes it.
- 561
On average, how many auto apps does he do per month now? I have a hard time believing a one man show can hit this mark even with some help.
- Thread starter
- #16
- 226
30-40 apps a month for Auto
- Thread starter
- #18
- 226
Do you have any suggestions how to target them? Teachers, firefighters,police officers, scientists, engineeers, doctors
- Thread starter
- #20
- 226
hahaha. Gotcha. No prob. But if it helps were in CA not PA.
