Soooo....I Thought this Would Be Easier Than It Is.

[Advisor06]

Hi all...

I recently passed my P&C license in NJ to focus on commercial lines business. Mostly focusing on contractors that have multiple trucks. I have been working in the life and annuity side for the last 11 years and thought it would be a nice and easy transition to add to my business. I figured that business owners would be open to discussing cost savings opportunities by shopping their current policies...to my surprise it seems like no one will let me in. Most excuses I receive are "I have been with my agent for years" "I don't shop it out", etc., etc.

I guess I really thought it would be easier than it is. I make anywhere from 40-60 cold calls per day and I am coming up flat for appointments.

Any suggestions or thoughts?

 

[DHK]

You can't sell pain killers to someone who is numb.

 

[Advisor06]

www.youtube.com/watch?v=O2o7eogNgwE

You can't sell pain killers to someone who is numb.

Not sure what you mean. I get alot of people who say they receive alot of cold calls each day to switch their coverage. I am unsure on how I can start to gain some business or even potential opportunities.

 

[b61mack]

go out and introduce yourself to business owners. its easier to get by the gate keeper in person.

 

[Advisor06]

go out and introduce yourself to business owners. its easier to get by the gate keeper in person.

I agree. I did try that for a few places and even though they still were not interested they were slightly more open to a conversation. My trouble is that I am a used to selling life which is a slightly quicker close.

 

[VolAgent]

Not sure what you mean. I get alot of people who say they receive alot of cold calls each day to switch their coverage. I am unsure on how I can start to gain some business or even potential opportunities.

People generally do not change insurance unless there is some pain. If they have been with the same agent for a long time, it will often take more than just premium savings to get them to switch.

As DHK said, you are selling pain killers, and these people are already numb to the pain.

 

[GoPokes]

Be different than your competition. Remarkably different.

 

[SueNami]

Two thoughts...

ONE --- Are you calling off of a renewal list? Everyone gets the same timing on those and sometimes you are the 5th agent to cold call them.

TWO --- You may need to exasperate their pains. lol. Remind them of what could be happening that they aren't even aware of. Are they covered properly? Point out the cost to them personally if there are gaps in coverage.

Maybe combine these two thoughts by reaching out to local businesses and offering a free guide that you create. Since you are targeting a very specific industry it doesn't need to be solely about insurance. It could be something like tips to help contractors grow their business. or "3 secrets to keep money flowing in the off season" or something... Maybe start a fb page and a linked in group where they can follow you and get true value first... People like to buy from people they like and trust. Most people don't like or trust people making cold calls.

Calling for commercial is an investment of time. Right now your investment of 40-60 calls per day isn't building anything to pay off... Time to switch it up.

 

[Markthebroker]

Try calling on someone other than contractors. I do very very well in the blue collar vertical because of my personality. Most of the people in that business vertical respond well to blunt to-the-point (though often tactless) attitude.

On the other hand, I am weaker, though still successful at getting sales and appointments in other verticals.

I was very fortunate to learn this very early in my career.

Try another industry vertical my friend.

 

[walthamny]

If you were selling life and annuity succesfully for 11 years, you really should not look to add P&C, most people after 11 years make over 100K in the life/annuity space. You should be able hire someone and split the commission for P&C. Also why are you not calling your existing book.? Why pick a new field

Now if you were licensed for 11 years and your book does not know you by name, then whatever you were doing is fine paying the bills just don't expect it to work in other markets. When you cold call for life, most people don't have enough or don't have any, when you cold call for commercial, most people have it and have no such urgency to shop around unless it is the right time.