New Agent Looking For Advice

[KenoKat88]

Hi all,
First off Happy Holidays to everyone!

I would like to ask for some opinions and advice. I'm just getting started and now it's sink or swim time. I'm taking my knowledge to the streets so to say!

I spent the last month reading and researching my product(s). For now I'm focusing on Foresters products. I didn't want to get overwhelmed at first so I focused on one company. I still have enough in the savings that I can walk away if Foresters is not the right fit. Right now I want to focus on presentation and the best ways to prospect. My budget took a hit this fall when I had to take care of my mom for 3 months. So as of now I'm not financially set for doing a costly postcard campaign. What I do have is: people I use to work with (got a few nibbles here and I'm running quotes), I live in huge apartment complex (going to ask leasing dept. if I can hang up advertising material) And the big one is my brother has a established hobby business. His clientele is perfect it's a mix of young families and elderly. So this is where I'm looking for feedback and advice. It's one thing to tell people you sell insurance (they smile and say that's nice and walk away) and it's another to have the smoothe way of getting them to know they might need my services.

I thought of setting a table up at his shop and next to him at different venues. And every other week the club members go to a school gymnasium and do an indoor "fly-in". So I'm looking for an approach. Insurance is an emotional sale and I don't want to feel like the grim reaper or a Debbie downer at his events. I know I have to get that feeling and thought out of my head and look at it as I'm helping people. But how? What type of approach should I use?

I was thinking of doing a raffle and gathering information with a Insurance questionnaire. Using basic questions: Do you have life insurance? If you do, do you understand it? Would you be interested in a presentation? and so on. Just something to get my foot in the door.

So there it is, if anyone has any comments or advice I would appreciate it

Just had an afterthought after typing all this out. That's why I love this forum it makes you think.

Instead of using his business to promote mine. I could use mine to promote his. Would I be allowed to offer a discount at his store if they listened to a presentation? Is that legal? I know medicare would have a problem. But I'm not going to base the discount off of purchase anyways.

 

[Todd King]

A couple of suggestions here.

First off, I know you don't want to fell overwhelmed with products, but you do need more that just Foresters in your bag.

Secondly, if you don't have the money to do mailers or buy leads, then buy lists and start cold-calling. Don't wait for events to come available around you. You have to be more proactive than that or you'll be even more broke than you are now.

 

[LVAGENT]

Ya i agree^.
Sounds like your doing excellent networking to supplement an overall marketing strategy, but i feel that your kinda bypassing the tried and true 'money producing activitiy'. Which is basically cold calling to get appt, then sell and so on and so forth... hope this helps a bit

 

[xrac]

Read the thread on here about cold walking residential areas doing a survey. The advantage of this is it is cheap and seems to be effective.

 

[NCAgent]

If you are brand new and don't have money for resources, cold calling and cold walking is the way to do it.

Another good forum I strongly suggest to look at would be Topgunproducers.com for the forum. Between this forum and that forum I picked up a lot of stuff that have helped me in the P&C and the L&H scene. And yes, the requirements are a little different to join there than here, but it is legit. It's worth the extra effort to join.

Sorry if I'm not supposed to mention other forums here but a lot of people frequent a few of them and I'd like to bring it up.

Mark Rosenthal has a forum as well: Insurance Agent Forum - Hosted by Mark Rosenthal • Index page

There are a lot of people here who can help you with questions. Don't be afraid to ask, just try to do a search first and see what comes up, which is something you have already been doing by the sound of it.

Offer more than Forrester's to start with. Assurity is a nice company, as well as Metlife, Mutual of Omaha, American National, and American General. Some of those companies are nice because the names can almost sell themselves for some people like Omaha and Metlife. Assurity and American National have a nice non-med product up to 350k and 250k respectively, which are convertible to whole life as well for clients. Having non-med options will let you get paid quickly and also service the people who don't want to get the exam done.

Above all else, ask questions here when you get stuck. We're more than happy to help. I've learned a lot and am by no means an expert but I can try, as a newer person, to offer advice as well since I'm learning these things, too.

Good luck!

 

[GeminiGroup]

All the advice by prior members is GREAT. I'd add, when you attend your brothers events make the most of those exposures....let "his clients" know that all 'members" :
1) are ENTITLED to a FREE review
2) may qualify for lower rates
3) ask members to complete a brief survey for "hobbist" only (of which all of them are, right?)

The goal is to cultivate this crop of suspects in to prospects.Farm them like any other crop, the idea is to get names, numbers and makes introductions you can call upon later. (No selling at the event, use your time wisely)

People enjoy being part of an affinity group and your goal here is to create a small "like" group of "members" that "feel" good about the EXTRA service they get from you BECAUSE of their affiliation with your brother's business,

People enjoy the illusion of extra favors/service/better pricing/service....whatever....it is that "feeling" you want to tap into. I say illusion not to be shady but "come on" the 10% discount I get for mentioning Dave Ramsey's name IS INDEED the same 10% I'd get for mentioning Mike and Mike from ESPN or showing my AAA card....You get the point.....But it FEELS good for my pops to slap that "Teacher's union" card down and say "I a member, I'm special".

You use this to your advantage, make those people feel special..BECAUSE they are already part of a group, "that's why you are there" to help them get serviced and ATTENDED TO just like AARP.....to "give them a voice".

The information "gathered" by your "damn near" mandatory survey will also provide you with the info you'll need to knock 'em down...hella leads my friend.

Forget your A.B.C's....Always be prospecting.....

**
I'd like to respectfully help you kill that grim reaper premise, my friend. Insurance is an emotional and a logical sale....if you make it so.
It is up to you to grow sales in "dead grass" and it can be done, trust me. I guarantee you, if you "water it" the sun will make it grow,

Like others here have said if you provide the water (cold call/walk/surveys/questionnaires/cheap raffles) the sun will help grow you sales(the sun is FREE to us all)

Good Luck, go get 'it

 

[xrac]

If you are brand new and don't have money for resources, cold calling and cold walking is the way to do it.

Another good forum I strongly suggest to look at would be Topgunproducers.com for the forum. Between this forum and that forum I picked up a lot of stuff that have helped me in the P&C and the L&H scene. And yes, the requirements are a little different to join there than here, but it is legit. It's worth the extra effort to join.

Sorry if I'm not supposed to mention other forums here but a lot of people frequent a few of them and I'd like to bring it up.

Mark Rosenthal has a forum as well: Insurance Agent Forum - Hosted by Mark Rosenthal • Index page

There are a lot of people here who can help you with questions. Don't be afraid to ask, just try to do a search first and see what comes up, which is something you have already been doing by the sound of it.

Offer more than Forrester's to start with. Assurity is a nice company, as well as Metlife, Mutual of Omaha, American National, and American General. Some of those companies are nice because the names can almost sell themselves for some people like Omaha and Metlife. Assurity and American National have a nice non-med product up to 350k and 250k respectively, which are convertible to whole life as well for clients. Having non-med options will let you get paid quickly and also service the people who don't want to get the exam done.

Above all else, ask questions here when you get stuck. We're more than happy to help. I've learned a lot and am by no means an expert but I can try, as a newer person, to offer advice as well since I'm learning these things, too.

Good luck!

NCPCLHnoob, has given you good advice about Topgunproducers and about Mark Rosenthal's forum. Both have a lot of good sales ideas and help.

 

[Likemlouder]

i havetried select groups and had a little success with em. but learning to prospect is the key to survival in this buisnees IMO. some like knocking doors some like calling. it has been my expeience thet you need both. anyone can sell insurance if they get in front of enough people. prospecting is the key

 

[Rearden]

Six months into the final expense business, I can tell you the best thing you can do is choose a proactive path to aggressively prospect for business, whether it's cold-calling, door-knocking, or working a stack of leads.

Websites, co-op marketing, strategic alliances, at this point at least, are avoidance behaviors that make you feel productive without much meaningful productivity (IE sales).

 

[KenoKat88]

Thank you everyone for the advice. I actually might be putting this on hold for awhile. I got a call and interview tommorrow for American Income Life. And now i'm wieghing out the pro's and con's. From what I read I see that's how a lot of agents got started. I really wanted to go the Independent route, but I'm thinking this will "groom" me and get my feet wet a little. Does anyone know what happens to your contracts when you go captive? The AIL rep said that it's 30-60 days to decide to become captive with AIL and they ask you to give up any existing appointments. Can you get them back if you terminate in good standing? Example; I'm contracted with Foresters and a few others. I know Foresters is a life long contract as long as you don't commit a crime or declare bankruptcy. Does anyone know if I term my contract with them If they will take me back?