Should I Stay or Should I Go Now?

[DHK]

Today is Friday.

You get 10 leads per day... that's 50 leads... and you sold 7?

10% of 50 is only 5.

What do you do with the leads who don't buy right away? What is your process to keep in touch with them so when they're ready, they buy from you?

You need to be COMPOUNDING your activity, rather than just waiting for new leads to show up in your inbox every day.

The more activity you have with compounding efforts... you should be able to keep on top of your minimum requirements on a regular basis.

 

[PCNewb]

Here's a look at my day (very rough estimate):
10-11:30 am Follow-up calls previously scheduled
11:30-1pm Quoting and texting new leads
1pm-4pm Call and text leads I haven't made contact with
4-7pm Call new leads from the day, follow ups as scheduled

The goal is to do 5-7 contact attempts before setting them up on other marketing programs.
I'm doing my darndest to stick to this process as directed. If I don't hit my numbers, I figure I can at least say I worked hard.

 

[CIServices]

Today is Friday.



You need to be COMPOUNDING your activity, rather than just waiting for new leads to show up in your inbox every day.

The more activity you have with compounding efforts... you should be able to keep on top of your minimum requirements on a regular basis.

I agree 100%.

I am familiar with the SF situation. I do not think you should only rely on the leads given to you each day...10 leads is not enough. Show your agent you can go above and beyond...then at that point you will determine your own commission basis.

If your agent is open-minded, and your not agiasnt the idea, COLD CALL. Bust out your leads and work them in pends like you do...then switch gears and cold call....

"Hello XXXX this is XXXX from XXXX's State Farm agency. We have very competitive rates in the XXXXX area and would like to have you as a client. What can I do to make this happen?

Then you shutup.

Theres a good chance they will come back with something like this, " welll okay, can I have your number so I can call you back?"

Your response could go something like,

"Yes absolutely...so what insurance company are you with right now?"....then shutup up....they reply with either...THE insurance or "screw off" lol

IF they reply with the insurance company...proceed with, "okay great...what vehicles do you have insured with them right now?"

SO disclaimer,,,

I've taken that script into practice and it works. Its from another member on this forum. I'm new to the forum but not a spring chicken but not a veteran either.

The potential customer may object your attempt to get them "better coverage for less money" but I recommend to ignore their first denial and proceed.

ANYWAYS sorry for the rant...

Your pay is OK...so I say GIVE IT A GO !

learn as much as you can and see if the insurance field is a good fit your you.

SF has alot to offer in terms of learning and training

 

[DHK]

Good post.

One thing I like doing with scripts is make sure you mention what city you're in, and even your cross streets.

"Hi, my name is DHK with State Farm here in (city) at Hole and California." It allows them to mentally position you and even just feel that they should know you.

----------

Come to think of it, I never did ask PCNewb what his script/offer was.

Hopefully he'll come back and post it. If his script is bad, we can work on it.

 

[PCNewb]

Hi all,
Thank you for replying back, it is much appreciated.

My script for the first call usually goes something like: "May I speak to ______?.... Hi _______, how are you doing today? I'm giving you a call from your local State Farm in (city). It looks like you requested a quote online for your (year/make/model), were you still looking for insurance on that?"
And based on their response proceed from there. Often they say yes, sometimes no, they were never shopping or they're not interested. In those cases I try to get info about who they're with and how much they're paying, then email a starting quote for us.

In other news, my coworker has resigned and things got ugly. Based on my agents conduct, I'm not sure I want to stay here terribly long.

 

[DHK]

Well, keeping office drama aside, I think we need to refine that script. Whether you stay or go, even your next P&C job will require a refinement in your skills.

First, let me tell you that I've never sold P&C... but I think I'm decent enough on the phone.

Drop the "how are you doing today" line. Every amateur says that. It brings up the internal response of "this is a sales call and I've heard all this before".

If you want a different response on the phone, you have to say different things.

"Hi, is this _____? This is DHK here at SF here in (city) at (list cross streets). Do you have a quick minute to talk?"

"Great. Thanks. I'm just following up on a request for a quote for auto insurance coverage. Does that sound familiar to you?" (If they didn't request the quote, maybe their spouse did in their name?)

Now, the problem that you have with online quote requests... is that you're going to be competing with every discount agent/broker/company out there too. If your quote sounds high, they won't continue. Therefore, you need to show and demonstrate expertise and excellent service in insurance matters.

Since you are licensed, you should be (at least partially) educated on this kind of conversation:

"Well, the areas where State Farm excels in, is not just insuring your car... but in helping you protect your assets against a lawsuit in the event of a catastrophe. This is an area where a basic auto insurance policy doesn't do 'everything'. Sometimes an umbrella policy makes a lot of sense on top of an auto policy. Those are quite inexpensive and can really be helpful in the right circumstances."

"Anyway, we can get started by quoting you on your current car and then we can review your total coverage and compare them to your assets and make sure that you have the protection you really need. How does that sound?"


Now, in my opinion, such a quick conversation will set you apart as an expert and as someone who cares about what insurance is REALLY supposed to do... rather than just be a "human quote engine". It'll also help you 'sort out' who should be a policyholder and who might not be a good fit.

Here's the bonus: If they have assets, such as home equity, savings, brokerage accounts, business interests, etc., that can be a GREAT opportunity for your primary agent to do a full financial review (assuming he's skilled and licensed for that kind of work, such as life insurance, mutual funds, annuities, etc.).

This link/attachment may help:
http://fsonline.com/Simpler_Way.pdf

If you look in page 3 of the Priority Planning Review, you'll see assets, liabilities, and income. These factors will help you design an optimal insurance package to ensure that all assets are protected. Without this, all you're doing is insuring their car... when their car is probably the least important aspect of their finances.


I hope this helps some.

 

[PCNewb]

Thank you for your improvements on my script. I kind of always hated asking how people were doing anyways. It makes a lot more sense once I've been in regular contact with a lead.

I think you're more or less right. P&C and especially auto, is difficult to sell because people are primarily looking at price. I've been able to convert a few people to a higher price because they value the "State Farm experience". But just as many people don't give a lick about what their coverages mean or the service provided by the company.

In any case, excellent service and product education are huge focuses of mine during the sales call. People who are willing to listen always appreciate it.
In regards to the wholesale approach, I feel like I need to work on cross-selling/pivoting. Homeowners/renters is easy enough, but I need to work on better lead-ins to life and bank. It's difficult to keep that in mind when my goal is solely based on auto count.

So from what I'm hearing, I may not be as bad off as I thought. I'm mainly going to focus on following my designated process while working through as many leads as possible. As it works out, this month will have me doing some overtime.

 

[DHK]

It's difficult to keep that in mind when my goal is solely based on auto count.

I know, and I get it. However, the more that you look at "the big picture" and help your agent with the ENTIRE process... the better off you and your agent will be.

It's looking beyond "it's my job" to "it's my business". That's how your agent should be thinking... how to grow the revenues of his agency while containing costs. If you can think the same way and help him with ALL of his goals... you'll become more of a 'business partner' than just a CSR/selling agent.

Take good personal notes on your nice cases that you do, so that you can use that if you decide to interview somewhere else, or even to become an agent yourself with your own agency.

 

[pfg1]

Great info posted by the guys above.

I would just ride it out a bit and use it as a learning experience. At least you are making sales (and a paycheck) right out of the gate, so that is good. It sounds like you know you are gonna be moving next year anyhow, so unless it gets ugly just keep plugging along and see how it goes, while keeping a lookout for something better.

 

[1963]

PCNewb, I don't have anything to add to the discussion; some of the most solid pearls of wisdom have been offered already. Strictly for encouragement, I urge you to stay the course! Work the process over and over and over and....