First Year Marketing

[TexasInsuranceNow]

I am in my eight month of selling insurance. Focused mainly on P&C but am also life and health licensed. My agency does not provide any marketing for the new producers. Everything I've gotten has been through cold calling or talking with friends and family. Is this normal? Can someone please give me some marketing ideas that don't cost a lot? I don't see how a new agent can make it with zero marketing.

 

[EugeneM]

Welcome to the world of insurance! Agencies are different some give their agents leads some do not, goes either way.

There are very few marketing options which do not cost a lot minus picking up and hammering the phone etc...

One thing I can tell you is to soak up every opportunity possible. Record everything so you can use it for future use. You talk to someone and dont close them, put them in the system to call before their renewal next year. Be organized from the start, good work ethic and consistency is going to be your best friend.

You will thank yourself year 2 when start the year off with a bunch of leads to work.

 

[XdateNotSexDate]

Great advice from Eugene and your experience sounds very similar to mine as a new producer.

First year is never easy. Keeping notes to reference from prior conversations, scheduled reminders of better times to call the next year, etc will go a long way toward having success. It's a slow build 'gold mine' that is yours and no one else's. It will also show the prospect that you're sharp and in it for the long haul. Especially commercial, it can take years of 'courting' before earning the business.

You can hire a telemarketer, but obviously that is pricey. Usually a good option when you've all ready got so much going on that you can't make the time to hit the phones yourself.

The most cost effective option, at least in my opinion, is just cold calling. It can cost nothing (assuming you're using your office phone) but time if you use a phone book. There are also options that cost a little, but are usually affordable and worth the investment. Like a prospect data provider, which is available for commercial and personal lines, so you can narrow your focus down to a couple industries and become more of a specialist; or just target prospects that are similar to your previous successes.

Networking groups and chambers of commerce aren't to expensive, but they are filled with other sales people like yourself. So you need to find someone selling something such that the both of you can refer each other business and make it mutually beneficial. It's not something you'd see a return on over night, as is the case with cold calling.

Sounds like you are on the right track though. Just put your head down, hit the phones and work your butt off. Good luck!

 

[insurance1822]

How are you compensated?

 

[MJG1]

You might consider making fliers (of course company approved if you don't own the agency outright) and mailing them out in bulk. That's what I plan to do, along with business cards and business card sized fridge magnets. I am focusing on commercial but definitely open to personal lines.

 

[nyc2phi]

You might consider making fliers (of course company approved if you don't own the agency outright) and mailing them out in bulk. That's what I plan to do, along with business cards and business card sized fridge magnets. I am focusing on commercial but definitely open to personal lines.

This is an outdated way of finding business.

Top things I recommend is one get yourself in a networking group like BNI. Do a good job on the first few referrals and you'll get a lot more opportunities. I would also go to networking events and meet more people.

If you're focusing on commercial I'd dial for ex dates and build yourself a good database to work.

Lastly purchasing some leads will cost money but it will give you practice working leads quickly and if you do it right you can build a small book off them.

Good luck.

 

[TexasInsuranceNow]

Thank you for all the advice. I despise networking. It drains my soul. Is there any hope for me if the last thing I want to do is go to networking groups like BNI? I have tried them and I have gotten some business and have sent some business but I hate it and it makes me hate my job.

My strength is in sales, not networking. Meaning, if I can get in the door, I can usually close the sale.

What about insurance leads? I tried hometown quotes but the quality was poor. So many broke people with no assets to protect, bad credit, bad leads, 80% will never answer the phone. What about live transfer leads? Commercial leads? Direct Mail? Any ideas except for networking, please!

If you had $500 per month to spend on marketing (I know this is not a lot but all I have), how would you spend it (as a new producer)?

 

[insurance1822]

Id pay somebody to set appointments with realtors and lenders

 

[1manshow]

Just a thought...

Any of your carriers offer affinity programs? One presentation...since you love sales...and you can possibly make dozens of sales.

I can also share a couple marketing ideas that have worked great for us...pm me with an email and I'll send them privately

 

[AssociatePI.com]

Get some business cards (you can usually get a couple hundred from vista print for like $50) and stop by local chamber of commerce meet ups in your state. They're free and a great way to meet 50+ people at a time. I had to do this when I worked a marketing internship with no marketing budget, met a few agents while going to these meet ups