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 Posted: Fri Jul 11, 2008 5:25 pm Post subject: How to market your self as an insurance agent |
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Hello,
I have a friend that is new to life insurance selling and he ask this question. How can he market himself to be effective in insurance selling. He feels that it seems he lacks potential clients as he stays longer in the industry. The only clients he has are his relatives and friends. I have given him some simple advice but I know bringing this up to the community can help him become a better life insurance agent.
In your opinion, how can a new life insurance agent penetrate a good and potential market and how can he improve his productivity in the life insurance industry. Given the fact that life insurance is one type of policy that is not easy to sell.
Your opinions are greatly appreciated.
Thanks a lot
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joven222
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| Posted: Fri Jul 18, 2008 6:14 am Post subject: |
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There are many things that should be kept in mind and must be followed to become a successful man in field of insurance....
1. You should be hardworking-never run away from the time and energy you will have to invest in your job because later that experience will pay you back
2.Be patient- Never expect that you will start converting your prospects into customers from day 1. 100% conversion rate in not achieved by even the best of marketers.Learn from your experiences and try to incorporate them every next time.
3.Be alert- always be alert while talking to your prospects.keep track of when they are interested in you and try to build up the rest of discussion on that.
4.Come prepared-Be aware of all of your companies policies and schemes. They should be at your fingertips.
5.Enhance your communication skills- make your communication skills effective.Always be confident while talking and nevr hesitate to bring up new topics
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tusharagg87
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| Posted: Fri Jul 18, 2008 2:00 pm Post subject: |
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Hi my friend..
When this selling process goes through the telephone then you'd need to remember a couple of things-
* the first 30 secs of your call are truly meaningful, since they are aimed at generating interest of the prospect
* When you're describing the product benefits get slower & let the customer know what the subject is all about (This is the time he should ask Qns..& not anymore later)
* Stress on the right keywords that highlight the benefits of your product
* Remember that the customer is listening to your product knowledge but he would depend on your voice clarity & the your way of presenting it (ie. your tone-modulation)
* Don't hesitate to pop up the big question of charging him for your service (Be positive..here you need to be absolutely confidant!)
* Finally greet him for listening to you (EVEN IF YOU FAIL TO CONVINCE HIM)
Leave with a smile on your face (This smile would show up in the telephone too..)
Thats it from my end!!
Jackie_Collins
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| Posted: Fri Jul 18, 2008 4:35 pm Post subject: |
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What is more effective? Selling personally or selling through phone? I think talking to the prospect personally is more effective but it also requires investment in time as well as in money.
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joven222
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| Posted: Sat Jul 19, 2008 11:01 pm Post subject: |
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Joven, I prefer selling personally (face to face). I have also sold over the phone as it is more time effective.
To be a successful in life insurance sales you need:
- good time management
- persistence
- a friendly manner
- sales skills
- a commitment to professional development
- no fear of rejection
Those are the key elements that come to mind at the moment.
Hope that helps
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OntarioBroker
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| Posted: Sun Jul 20, 2008 7:12 am Post subject: |
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You are right,Joven222...
Personal or face-to-face selling is much more effective although it requires more time and money investment.But I personally think that this does not matter much in your campaign because the return you get through personal selling.
While selling through phone, keep a list of you strong points about your firm besides you which you can use while you are talking to your prospect.
Phone to Phone selling can be time saving but disconnect connection could leave a negative and an unwanted impression.I prefer direct selling and will advice you the same
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tusharagg87
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| Posted: Sun Jul 20, 2008 2:12 pm Post subject: |
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I think selling face to face vs. selling over the phone is different for each potential client. Each situation is different some clients know exactly what they want to purchase vs the client that needs to be hand held.
Expense wise selling over the phone is the better choice. |
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lisar1208
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| Posted: Mon Jul 21, 2008 11:29 pm Post subject: |
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Just don't limit yourself to one type of marketing. B2B, call, advertise, and network. By themselves you only get limited results but when you have all four working together you can get much better results.
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beatuplunchbox
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| Posted: Tue Jul 22, 2008 6:05 am Post subject: |
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Yes, I will advice you not to restrict to only one kind of marketing.As Mr.Beatuplunchbox says, always keep applying yourself to various marketing styles and strategies because if you limit yourself to one kind of marketing style, the profit earned will be far less than applying all styles.
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tusharagg87
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| Posted: Tue Jul 22, 2008 6:07 am Post subject: |
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And I will like to tell you one thing more....
Only go for selling over phone if you want to save time and make sure that the connection will not interrupted or disconnected in between....
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tusharagg87
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| Posted: Tue Jul 22, 2008 7:36 am Post subject: |
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Hi beatuplunchbox,
There has to be the right apportionment of time & man power over all of these types as mentioned by you!
Which ones do you thinks demands the most of it??
I believe B2B is only precious when it is converted (while we could be rest assured that converting one such lead is an uphill task!) So, do I presume lesser attention for this one & more on advertising & network!
Come on..Mariumwesley
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| Posted: Thu Jul 24, 2008 4:12 am Post subject: |
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Actually the opposite is true as far as ROI (return of Investment).
B2B and calls have the best conversion rates and require less monetary investment but a heavier time investment. As far as selling over the phone, I do not do that.
Face to face appointments allow me to properly explain policies and allow me time to answer the customers questions. This results in a higher retention rate and better comissions. This also provides me with much more referrals.
Networking and advertising are costly but require a low time investment.
Networking consists of doing favors in return for favors, and advertising costs serious real world money.
But with all of them working together, It creates great revenue for me. 
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beatuplunchbox
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| Posted: Tue Jul 29, 2008 7:12 pm Post subject: |
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a cost effective way to attract new business is over the internet. Many agents are reticent to move into the world wide web realm and are continuously drawn to the conventional methods of marketing like cold-calling. tell your friend to research methods of internet marketing to attract new, qualified leads. there are may books and many places on the internet to learn about marketing this way.
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tentel
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| Posted: Thu Jul 31, 2008 6:11 am Post subject: |
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Well, whether you do your marketing business on phone o face to face depends a lot on how much profit or ROI(Return On Investment) you are expecting. Marketing through phone is cheaper but it also gives less return on investment. Face to face marketing requires both time and money but you can expect much better ROI.
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tusharagg87
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| Posted: Thu Jul 31, 2008 3:21 pm Post subject: |
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tusharagg87, you're certainly right about the plusses and negatives of both phone and face-to-face marketing. but there are an abundance of other methods of marketing that are quite cost effective that do not require making cold calls or going door-to-door. i think it's all about trial and error and creativity, finding out what works best for you and always seeking ways to expand and increase your bottom line.
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