Realistic Goals/business Plan

[moonlightandmargaritas]

Just for my own barometer, I'm trying to set milestones etc.

Yes, I understand.

My point (formulated over 22+ years) is that if you don't focus 100% of your energies on attracting a steady stream of new prospects, you'll be taking your barometer and milestones to the store to see if you can trade them for groceries. You can probably guess the outcome of that...

 

[rccola]

Yes, I understand.

My point (formulated over 22+ years) is that if you don't focus 100% of your energies on attracting a steady stream of new prospects, you'll be taking your barometer and milestones to the store to see if you can trade them for groceries. You can probably guess the outcome of that...

Thank you. What would you recommend I do to focus marketing etc to really bit the ground running? I would appreciate all/any advice.

 

[moonlightandmargaritas]

Thank you. What would you recommend I do to focus marketing etc to really bit the ground running? I would appreciate all/any advice.

I think you mentioned both P&C and L&H. A good position since P&C is such a good "door opener" for L&H.

A successful marketing plan is going to be four or five pronged - to avoid reliance on any one method. Are P&C rates competitive? What kind of area, urban or rural? Commercial a possibility?

What's your background? Any natural market?

 

[rccola]

I think you mentioned both P&C and L&H. A good position since P&C is such a good "door opener" for L&H.

A successful marketing plan is going to be four or five pronged - to avoid reliance on any one method. Are P&C rates competitive? What kind of area, urban or rural? Commercial a possibility?

What's your background? Any natural market?

Urban P&C. Rates are competitive. Very small mom and pop commercial approvals. Background is 6 years army and 3 years Law Enforcement. I will have some warm market to hit the ground with.

 

[moonlightandmargaritas]

Urban P&C. Rates are competitive. Very small mom and pop commercial approvals. Background is 6 years army and 3 years Law Enforcement. I will have some warm market to hit the ground with.

Excellent! You've got a LOT to work with. Some thoughts...

Competitive rates? Telemarket (DNC compliant of course) homeowners and auto. Aim to gather x-dates. You can buy x-dates too. "Every door" direct mail can be very effective for "demand" (P&C) prospects. Have your telemarketer(s) work small mom & pop commercial as well - or find a few hours a week to walk into these businesses. An owner-to-owner handshake is invaluable in these markets. Any Chamber of Commerce opportunities to address the membership (they have lunches?) is great...formulate a quick "5 Insurance Mistakes Small Business Owners Make" -type presentation.

Your Army/LEO background should help build trust (critical) very quickly. Make sure you have a bio that stresses it in your background.

If you have some warm market, work to leverage it! See if you can get everyone in it to share ten people each (with contact info included). Explain why it's critical to your success, and promise only that you will contact them only for permission to stay in touch ("front of mind awareness") and not to "sell anything". Keep your word.

L&H is much harder to prospect cold. Success there will be dependent on the ability to pivot from P&C clients. Don't make it harder than it has to be, get in the habit of asking your clients, "who do you have your life insurance with?" - it should serve to start a conversation.

Finally, all marketing activity has to be measured for profitability/effectiveness. TRY THINGS! Bias for ACTION. Test, measure, rinse, repeat.

Thanks for your service to our country. Hope that helps!

 

[rccola]

Competitive rates? Telemarket (DNC compliant of course) homeowners and auto. Aim to gather x-dates. You can buy x-dates too. "Every door" direct mail can be very effective for "demand" (P&C) prospects. Have your telemarketer(s) work small mom & pop commercial as well - or find a few hours a week to walk into these businesses. An owner-to-owner handshake is invaluable in these markets. Any Chamber of Commerce opportunities to address the membership (they have lunches?) is great...formulate a quick "5 Insurance Mistakes Small Business Owners Make" -type presentation.

Your Army/LEO background should help build trust (critical) very quickly. Make sure you have a bio that stresses it in your background.

If you have some warm market, work to leverage it! See if you can get everyone in it to share ten people each (with contact info included). Explain why it's critical to your success, and promise only that you will contact them only for permission to stay in touch ("front of mind awareness") and not to "sell anything". Keep your word.

L&H is much harder to prospect cold. Success there will be dependent on the ability to pivot from P&C clients. Don't make it harder than it has to be, get in the habit of asking your clients, "who do you have your life insurance with?" - it should serve to start a conversation.

Finally, all marketing activity has to be measured for profitability/effectiveness. TRY THINGS! Bias for ACTION. Test, measure, rinse, repeat.

Thanks for your service to our country. Hope that helps!

Thanks for the wonderful advice - and thank you for your Military support.

A few more questions... Do you recommend using a specific telemarketing company? I will not have a telemarketer right out of the shoot.

Also - have you found the x-dates to be effective?

I have read that people say to use hand-written envelopes for mailers... would you recommend that over "every door"? I understand the time it would take, but weighing what the actual closing ratio changes would be like.

For the "5 mistakes small business owners make" - would you recommend a pamphlet of sorts? Or just a quick oral presentation?

Sorry I have so many questions - just a big rookie here!

 

[moonlightandmargaritas]

A few more questions... Do you recommend using a specific telemarketing company? I will not have a telemarketer right out of the shoot.

Me (and others) seem to have the best results hiring local folks directly (craigslist?). I've had best results over the years with "Mommy"-types who like working from home for a few hours a day. With web-based dialers they can dial into, it's easier than ever. Years ago, it was a LOT more work.

Also - have you found the x-dates to be effective?

I was a manager with a major P&C insurer (Allstate). I can't think of a single successful agent I ever knew that didn't maximize x-dates. Though it was some years back, I think they used to buy them from Cole. Maybe some P&C guys/gals could chime in?

I have read that people say to use hand-written envelopes for mailers... would you recommend that over "every door"? I understand the time it would take, but weighing what the actual closing ratio changes would be like.

Hand written will get a higher response rate - but is it worth the extra time involved? A variable you would have to test (mail, measure) in your market to be sure.

For the "5 mistakes small business owners make" - would you recommend a pamphlet of sorts? Or just a quick oral presentation?

Both.

A quick presentation you can give orally (being able to public-speak is an excellent (and profitable) skill to have). Seek out the Toastmasters chapter locally - not only will you hone your skills, you'll meet a LOT of great contacts. My sister (she's a realtor) listened to my advice on this - and increased her production by over 300%).

Also make a pdf of it, something you can attach to emails, etc.