Prospecting

[Insuranceman]

Mark Rosenthal is offer free tapes on prospecting life insurance on this forum. He's got some excellant material
that will teach you everything you need know to be successfull.

 

[Mac1958]

Bozack, here's an article I wrote a while back for Senior Market Advisor called 5 Step Marketing Plan for Lazy Agents, perhaps it would help:

5 step marketing plan for lazy agents - Senior Market Advisor

If you like it, let me know and I'll get you another resource.

This is a tough business, but work smart and hard, and you'll be fine.

...

 

[ABC]

For quick sales call people you already have a relationship with. (friends & family)

If you are really looking to be aggressive call small businesses and try to sell the owner on whatever your selling.

You have to be realistic about the company you are selling for. Everyone in the country knows about AIG's troubles.

 

[Frank Stastny]

For quick sales call people you already have a relationship with. (friends & family)

I really can't believe you are recommending that.

That is the very, very last thing I would suggest to an agent.

You don't really believe that do you? That sounds like something a marketing organization or someone who is training agents would say.

 

[billgriggs]

New -Again

Hi Guys and Gals!
I made good money in selling MA last year, unfortunately, I was not doing so well at selling Health Insurance for Mega. I am thinking about going independent with health insurance, and was wondering whom might I consider in using for MA, I live in the Roanoke area of Virginia.
Bill

 

[ABC]

I really can't believe you are recommending that.

That is the very, very last thing I would suggest to an agent.

You don't really believe that do you? That sounds like something a marketing organization or someone who is training agents would say.

I disagree with you.

Friends and family can be a source of new sales. Obviously your not going to sell them something they don't need or that is not a good fit.

To sit down with someone you already know and have a conversation about insurance products. Maybe you are able to save them money or insure against a risk.

I think its easier to get a meeting with someone you already know. Its not predatorial sales its just sales.

I would hope the one that started this post would not sell a friend or family member a bad product because this is not used cars sales.

 

[margie]

Go to the book store and thumb thru the many books on the subject. The Sales Bible is a good one. Also, relationship building is the key. Join some community based organizations, networking groups, bowling league, etc.

 

[Bozack23]

Margie, thanks for the input and for putting this thread back on the original topic!!!!!

 

[djs]

There is no single answer for prospecting, so it's hard to give specifics to a general question.

In general, it's all about you, and what works for you, not what works for someone else. That said, there are some general rules, most of which are much better covered in the material mentioned above, but my take is:

- Have a system. Systems are like diets. Everyone says they don't work, then try to sell you their system. Don't make this complex, but you need to keep track of your prospects and nurture them.

- Understand prospects need to be nurtured, especially in the life business. Chances are, you are not going to close on the first meeting, they'll think about it, shop it, won't want to spend the money, etc. Use the system mentioned above to nurture them.

- Leverage prospecting by finding centers of influence that work for you. I do mostly P&C insurance, so my centers of influence would be realtors, mortgage brokers, car dealers, etc, basically people that impact my future clients.

- Thank people appropriately (no rebating, a simple thanks). Take the time to send a handwritten thank you to the person that referred someone to you, and to the new client.

- Make sure people know what you do. Be proud of what you do.

- Do business in a manner that you would buy from yourself. Return phone calls, respond honestly, don't bury information, etc. (It will amaze you how many agents slip on this one over time).

- Call people on their birthdays, just say happy birthday. It's amazing how well this works, people will think you care (and you should).

- Be relentless with followup. Set expectations with your clients (I'll call you with that information tomorrow at 5) and then meet these expectations.

- Make sure whatever you do, that it is appropriate for the prospect. Okay, this is more of a sales rule for me rather than a prospecting thing, but it annoys me when a salesman is obviously going for a commission rather than solving a problem of mine, even if the 2 are the same thing.

- Followup. Nurture. Followup again. Nurture some more.

Dan

 

[bobson]

- Make sure people know what you do. Be proud of what you do.

- Be relentless with followup. Set expectations with your clients (I'll call you with that information tomorrow at 5) and then meet these expectations.

- Followup. Nurture. Followup again. Nurture some more.

Dan

Everything Dan says is correct. These three points I think need repeating.

If you sell life insurance and you have not yet delivered a death claim read the obituaries of the papers in your area. Just yesterday in my area there was an obit for a gentleman in his early 30's with 3 kids. The obit said in lieu of flowers please donate money to a memorial fund set up for his children. Now I don't know about this specific situation but if you read five of these I guarentee in at least 4 of them the person just didn't buy life insurance so memorial funds have to be set up for surviving family members. The country needs us everyday...

Relentless follow up is key. Always get committments and if they fail to give you a committment reevaluate whether or not this person is a good prospect.