Final Expense or Mortgage Protection POLL
- Thread starter Agentguy5
- Start date
- 634
Yeah, I'm the same way. Just say no to cat piss.
- 5,243
I call bs. If that crap on the floor got you $3k in ap..you'd be in it to win.
- 24,968
I call bs. If that crap on the floor got you $3k in ap..you'd be in it to win.
I would hope so. But I have a week stomach if stuff smells funky I hurl.
I was riding with an agent and the woman went to bring out her two LH policies. In the meantime roaches stated coming out of freaked everywhere. I took a couple quick pics of the spec pages and foot bailed. Never went back.
Yup, I am a wussy. (forum approved word)
----------
I call bs. If that crap on the floor got you $3k in ap..you'd be in it to win.
I did one a couple years ago that had crap on the floor of the bathroom. Made $5k that day and another $3k a year later out of the same house, by phone.
- Thread starter
- #25
- 3,247
So those are the only 2 life insurance markets you are aware of then?
Seriously though, I have an old school mentality of just being a Life Insurance agent.
So to answer your question, my Life Insurance market is Life Insurance.
The reason I bring up the 2 "niche" markets is because they are easy to TARGET via LEADS.
How do you target your market?
Is it something that you can do because of your book of business?
Do you have a business model that can be duplicated by first year agents?
- 10,328
There are plenty of ways to target other markets. Business owners are always an easy market to target since you can get their info for free via infousa.
Another way to target them is just doing "walk & talks" (doorknocking) at local businesses. One of the top producers at my old career shop did this. While he was there he would ask the front desk lady how the benefits are there and if they give them a life policy that would carry with them if they left. He sold a policy to the secretary & their husband more than he did the business owners.
If you offer to bring in lunch some businesses will even let you do employee education seminars. Best to try to do a series of 2 or 3 with different targeted subjects. (life insurance for young families, pre-retirees, women, etc)
Young families can be easy to target with a little ingenuity. Baby stores often have a "vendor day". Get some chocolate candy and do a raffle for a gift card and you will get plenty of names of young families. Parenting classes often feature local vendors as well, especially if you can provide some free giveaways for the expecting parents. Of course you actually need a decent presentation that is not just a sales pitch...
But one of the easiest ways to build a BoB is to buy aged term leads. Most term inquiries do not actually make a purchase until 2-6 months after the initial inquiry. Especially when they are shared leads.
Buy 1000 term leads that are 3-6 months old and spend 3 hours a day calling on them. Ask if they have purchased yet, and tell them that any quote they received before is possibly not correct anymore since carriers change rates randomly throughout the year. Then offer to email them a comparison of the best 3 carriers. Then call back 2-3 days after you email them.
Using an online term sales system such as EZLife or Ipipeline would most likely increase your sales with this method greatly since then you could explain how easy the process is and how everything can be done over the phone with electronic signatures.
A book of term business can be very valuable. After a someone has been a client for 9 months you can start cross selling for DI/CI/LTCI/etc. You can also start having conversion conversations after they have been on the books for a year. (the goal is to convert a little at a time, not the whole thing)
There are lots of different ways to target other markets. Fishbowls in restaurants/coffeeshops, sponsor a child id event, create a project 200 and work it, network in the community via volunteering, do direct mail for fixed annuities and then cross-sell life... same for LTCI. Create a website targeting your local community and then do radio ads/billboards/signs to promote that website. As was mentioned in a different thread, more than one way to skin a cat... the reason I responded the way I did was because the whole premise of your question/poll seemed short sighted compared to the life industry as a whole. Especially compared to how I was taught to build a life insurance business. (nothing wrong in specializing in either of those niches though)
Last edited:
- Thread starter
- #27
- 3,247
Actually, I wasn't asking for a marketing lesson. lol
I did however ask you 3 specific questions of which you did not answer.
Not trying to sound grumpy on Mom's Day!
Just curious!
- 11,277
I generate my own leads by learning the skillful art of observation and conversation. Residential door knocking helps me get out of the house, keeps me on my toes, and avoid DNC issues. You can also utilize OTHER people's skillful art of observation by asking for professional introductions.
Nope. However, as you build your book of business and continuously engage them, other possibilities can open up.
Yes... and no. While I keep my concepts very simple that a 1st year agent can do them, I know that I bring a lot of experience to the table. Just because a 1st year agent could do what I do, doesn't mean that they bring the same or similar value to the relationship as I do.
The list that scagnt83 mentioned... a lot of those activities can be found in Robert Krumroy's book: Please...Make ME a little bit FAMOUS! - Kindle edition by Robert Krumroy. Professional & Technical Kindle eBooks @ Amazon.com.
The problem I have with some of these, is that they are great "add-on" methods to a solid marketing campaign, but not to be relied on a regular basis.
For example: one idea in the book is to deliver lunches to CPAs on tax day. Decent enough idea and courtesy, but the problem is that you can only do it once a year. That's not the kind of consistency that agents need.
There's also the "business card luggage tag" idea... that "could" be more consistent, but it's costly.
In short, I find all these "gimmicks" to be great... if you cannot communicate who you are, what you do, and the value you bring to the relationship in a clear and concise manner. Once you can articulate that, prospecting gets much easier.
- 10,328
You asked about a business model that first year agents can duplicate. I explained alternatives to buying FE or Mortgage protection leads. You got what you asked for.
I did however ask you 3 specific questions of which you did not answer.
Not trying to sound grumpy on Mom's Day!
The reason I bring up the 2 "niche" markets is because they are easy to TARGET via LEADS.
1. How do you target your market?
2. Is it something that you can do because of your book of business?
3. Do you have a business model that can be duplicated by first year agents?
1. I target my life insurance market by my BoB and referrals.
2. Partly.
3. Yes. Exactly what I described in my "marketing lesson". Not just one thing but all of them. A strong marketing plan is working multiple angles. You dont have to do all that is listed. But focusing on 3 or 4 angles is a lot better than just 1. Mortgage protection leads are good. But they are even better when combined with 2 or 3 other marketing methods.
When I was a first year agent I used multiple marketing methods.
I called on business owners, I bought aged term leads (sold the most volume from this one), I bought mortgage protection leads (not nearly as much sold as the aged term leads), I did the baby store idea at babies-r-us (sold a surprising amount from that one), I did annuity mailers, I hosted seminars for young professionals, I reached out to real estate agents for referrals, I worked my project 200, etc.
Then I worked my clients for cross sells, referrals and eventually conversions.
So basically everything I said previously can be duplicated by a first year agent.
Last edited:
- 24,968
1. I target my life insurance market by my BoB and referrals.
2. Partly.
3. Yes. Exactly what I described in my "marketing lesson". Not just one thing but all of them. A strong marketing plan is working multiple angles. You dont have to do all that is listed. But focusing on 3 or 4 angles is a lot better than just 1. Mortgage protection leads are good. But they are even better when combined with 2 or 3 other marketing methods.
When I was a first year agent I used multiple marketing methods.
I called on business owners, I bought aged term leads (sold the most volume from this one), I bought mortgage protection leads (not nearly as much sold as the aged term leads), I did the baby store idea at babies-r-us (sold a surprising amount from that one), I did annuity mailers, I hosted seminars for young professionals, I reached out to real estate agents for referrals, I worked my project 200, etc.
Then I worked my clients for cross sells, referrals and eventually conversions.
So basically everything I said previously can be duplicated by a first year agent.[/QUOTE]
Prospecting Is a foreign concept.
Similar threads
