At my Wits End with Slowness, Help?

[insurance1822]

Hi guys. I'm sure you see these "help" posts too often, but hear me out.

I'm 24, been doing insurance for about two years now. Last year I switched from working as a CSR for a retainer agent (awful experience) to being a solo agent in my own (well my boss owns it) office independently. I took a $5/hr pay raise when taking this job, and I make a certain $ based on the # of apps I'm doing per month.I work alone, and I love my job here, I have ALOT of freedom. I can do as little work as I want, or as much as I want.


Here is my problem... The past 6 months have been dead slow. Despite being on a heavy traffic road in town, billboards all over town, and monthly mails outs, walk ins (which are already slow) have been few and far between. We live in a small town (with the closest large metro over the state line 45 minutes away). We've been sending out mailers every other month or so for the past year. We started a facebook page, & were regularly updating it but not getting much out of it (and barely reached 100 likes).

When I first started, I was clearing the month with 25 new auto apps, but mos to of that was old clients that followed me from my previous agency. This year has been the worst. I'm barley clearing 20 new apps, let alone 10. I've tried my best to boost the agency. Created a google page for us, worked with 2 local grocery stores to get us on the carts, and have even bullied the owner into getting us appointed with more companies. I've gone through literally every file we have in this office, we're talking 10 years worth, and run into old information/phones being disconnected. Cold calling with the phone book has even hit a dead end, because NO one has a valid house phone anymore it seems.

This is a pocket change/side business for my boss (he makes big money in his other two businesses). I know if production sucks, it's not a huge deal to him.While I have the option to sit here lazy & collect hourly, I can't stand how slow it's been & I hate that lack of business. I only plan to do insurance for another 2 years while I finish school, but I can't take it much longer if it's this slow paced.




I've done giftcard giveaways, referral programs, & even given away cupcakes/other baked goods. Nothing gets these people in the door, or coming in to take advantage for that matter. I offered to do door knocking this summer at apartments to attempt to generate some renters policies (really the auto with it would be nice as well) but the first summer was waste of time and only yielded 1 policy (who cancelled a week later anyhow).



What can I do to help grow this agency or at least get some people in teh door?!What is your agency doing to get these policies? More importantly to just get these folks in the door.

I don't know how much longer I can do this. I hate bitching about "such an easy job" but it's exhausting to have NOTHING to do all day but stare at 4 walls and browse the internet.

Mortgage guys, realtors & financial planners for personal lines. I write about 55 policies a month on my own off all referral business. I have a network of maybe 8-10 mortgage guys / realtors who send me everything. I have another 10-15 that send me "some" of their clients. Anytime the phone rings for a mortgagee clause update, physically drive to the mortgage office & introduce yourself instead of faxing/emailing thedocs. Anytime somebody needs home insurance on a new home, call the realtor & introduce yourself. Go to open houses & introduce yourself. Car dealer calls for an ID card...go introduce yourself. Any real estate transaction that you, or any client are involved in...ask who's doing their loan & who their agent is and go introduce yourself. You'd be amazed at how much warm opportunities are right in front of you.

It took me about 1 year of doing that to build up my network. As I write this I realize I should still be growing my own further too.

Also - get out of his shop & open your own. You'll make a ton of money that way. I got into this right out of college & worked 4.5 years in an agency as a producer before I pulled my head out of my @$$ and & opened my own place 3 years ago and it's a dream come true (from a financial compensation standpoint.) If I had the foresight to do that right out of college I'd be making literally 2.5x as much money. I make more then every single kid I went to college with & all my friends (doctors, lawyers etc.) P&C Insurance agency ownership is insanely profitable.

Do what I said, it simple. You'd be amazed at how quick you'll start getting referrals. All the marketing you're doing is worthless unless you're GEICO with hundreds of millions worth of a marketing budget. Build referral relationships, you're young & have PLENTY of time to do it. Hell spend the next 2 years doing that & you'll have so much referral business when you're done w/ school that it will generate enough to start from scratch right off the bat.

Again...ANY new/existing client who's closing on a new home or refinancing, ask who their agent/lender is AND GO MEET THEM. If you're well spoken, not a fat ugly slob & dress nice...people will appreciate the enthusiasm & will want to help you grow. Some won't care but don't be discouraged. It will start with trouble situations (flood insurance...or the homeowner's needs to be under a certain cost for closing) and you'll need to make it happen no matter what. Once you bail them out & save their transaction...you're their go to.

I've been doing this almost 8 years & like I said in that time I've got like 8-10 people who refer me everything. That's 1 per year so trust me...just stick w/ that technique & you'll have plenty of people to meet..

...being indy you should have the carriers to deliver 100% of the time too. If you're captive w/ 1 carrier & can't deliver 100% of the time then I suggest quitting this business.

 

[PegM]

Since you are only planning on doing insurance another two years, maybe it is time to get into part time job while you finish up school. You sound like a real go getter, and there are undoubtedly other businesses more related to your education where you could gain some relevant experience, plus benefit them through your energy and innovation.

 

[Schwetty]

You license is not just for your small town, expand your marketing reach and be more proactive like others have said.