Cold Walking Small Businesses

[insuremeplz]

Hey all,

I'm coming from a background of individual Pre 65 Major Medical and trying to figure out a natural transition to something different. I've mostly worked aged leads and real time internet leads the last few years, and written the occasional small group as they've popped up.

The natural transition seems to be the small group market but I'm struggling to figure out the best way to prospect. I don't want to cold call, I want to get out there and just get my feet wet and go from there. Has anyone tried cold walking small businesses?

Any tips? A flyer to lead in? What is my value proposition? Are you asking for Xdates or trying to switch right away? Going for the BOR? Trying to set the appointment?

Sorry if I'm being vague, I'm just looking for some general information to give me a start, the rest I can learn by getting out there and giving it a shot.

Thanks!

 

[briko3]

Hey all,

I'm coming from a background of individual Pre 65 Major Medical and trying to figure out a natural transition to something different. I've mostly worked aged leads and real time internet leads the last few years, and written the occasional small group as they've popped up.

The natural transition seems to be the small group market but I'm struggling to figure out the best way to prospect. I don't want to cold call, I want to get out there and just get my feet wet and go from there. Has anyone tried cold walking small businesses?

Any tips? A flyer to lead in? What is my value proposition? Are you asking for Xdates or trying to switch right away? Going for the BOR? Trying to set the appointment?

Sorry if I'm being vague, I'm just looking for some general information to give me a start, the rest I can learn by getting out there and giving it a shot.

Thanks!

You're best bet is to go to www.topgunproducers.com and sign up for their forum.

 

[Norwayguy]

You're best bet is to go to www.topgunproducers.com and sign up for their forum.

X2 Rick on Topgun specializes in cold walking businesses as his prospecting activity.

 

[Justin Bilyj]

Im actually working on a tpg project, I am helping to consolidate gems and threads that are extremely helpful on that forum. Almost done.

 

[DHK]

Don't share it publicly if you value your membership there. (Speaking as one who has been banned for sharing too much info on here from there.)

 

[briko3]

Im actually working on a tpg project, I am helping to consolidate gems and threads that are extremely helpful on that forum. Almost done.

I've got a TON of things bookmarked if you want help.

 

[LOM58]

I have seen two approaches to cold walking small business. The first was during my first year when I was dragged along with a seasoned and very successful P&C Producer who called on a bunch of companies in an industrial complex. Nada, zilch, just a few contact names that I could have gathered cold calling at the office in a fraction of the time spent pounding the pavement. By the way, this was not his typical means of prospecting, he just thought he would show me the old school way of doing it.

The second approach was much more successful. A former loss mitigation specialist turned Producer went from business to business not asking for a meeting, but dropping off packages for the purchaser. The package contained info about himself and the agency, but most importantly offered the company a free loss prevention analysis to reduce their risk and potential premium. He even insisted that he would not dream of barging in on the buyer, just please make sure he gets this important information. This guy had more accounts open for quoting than any other agent at the agency. Could he have accomplished the same thing on the phone or by mailing out packages, maybe so. But we all do what works for us, and this worked for him.

 

[SusieQ2]

I think cold walking is a good idea and I've been trying it, problem I have is locating areas where you can be efficient doing it. If I do strip malls I'll get dentist's offices, donut shops, but then the rest are usually chain and I don't get very good results.

Anyone have suggestions or do I need to just call on anyone and everyone and let things happen?

 

[DHK]

If you're going to do cold-walking, you need to go to areas of your city where you can have more effective conversations with people, than just talking to a receptionist.

My opinion: go to the blue-collar and industrial areas of your city. Blue-collar workers tend to understand that they don't know everything, are pretty approachable (in general) and are probably doing much better in the economy than office workers today.

Chain stores, franchises and other big name brands may not be the best prospects because they'll either not be there (managed by a management company in some other location), or they'll feel that they 'get everything' from the company HQ.

My rule of thumb is this: if you've heard of them on TV, radio or internet advertising, they're probably too big to get in to see them... at least when you're starting out. That doesn't mean you can't go in and ask questions. Just keep your expectations low that you probably won't be seeing the owner just for stopping by that day.

 

[ABC]

I have done a lot of this.

I always put together a packet of info to give to the contact. Then get the contact's card and call back to try to schedule a meeting. Hit up 50 small business and you should get 2 or 3 meetings.

If you are able to talk with the contact on the spot and they have interest this can lead to a quick sale.

Reality is most of the groups that will work with someone right off the street are micro group under 10 lives. Usually under 5.

A couple of keys to this prospecting is area.

If you are going into really nice office buildings where the rent is high the chances are less. If you go to office building where the rent is low chances are higher they will speak with you. Low rent does not always lead to closing deals.

Good Luck