New Agent Needs Ideas

[jahyatt]

Thanks in advance for all the help.

I'm a new agent. I am licensed for P &C and Life.

I have been appointed and actually in business for about a month now.

So far I've sold about 30 units. That is about 8 home policies, a few life, and about 18 vehicles.

My marketing systems are as follows: I telemarket on Saturdays and a few nights a week. I have done a few direct mailings with phone call follow ups (I sent out about 250 letters with lottery tickets, which was my way of getting a conversation started). I have advertised in a few neighborhood news letters. I pay for internet leads through NetQuote (any opinions on that would also be appreciated), I have visted with apartment complex's (dropped of donuts and my cards), and am meeeting with a couple real estate agents and brokers this week and taking them out to lunch.

I DO NOT MIND WORKING 60 TO 70 HOURS A WEEK. I just dont know if I'm spending my time, and money, wisely.

Are there any other avenues I should pursue? I've been telemarketing on Saturdays, Mon (4-7), Tue (4-7), Thu. (4-7). I get about one bite for every 10 that answers. Is that normal? What do you people think about paying for leads? Meeting with agents and brokers, etc (what do you offer them in return for referring you to their clients)? I've had some people tell me the apartments are a waste of time, but I've cross sold a couple life policies there.....

Thanks again for any help.

Justin

 

[Mark]

I heard about an insurance agent offering free car washes at the local car wash if you do a free quote with them.

He said it work really well for him.

 

[GreenSky]

I heard about an insurance agent offering free car washes at the local car wash if you do a free quote with them.

He said it work really well for him.

Even better for the car wash.

Rick

 

[Broker007]

My feelings on this are pretty simple. I get paid to write policies. So all of my effort goes into writing policies. That excludes making phone calls, ($10 an hour work, pay someone else to telemarket) I'll send out mailers the day the percentages of closing gets better,
and I don't want the type of clients that buy insurance for "lotto tickets." I suggest building meaningful relationships, writing policies for solid clients that refer, and repeating the process as often as you can. "In my humble opinion."

 

[BTFuzz]

Thanks in advance for all the help.

I'm a new agent. I am licensed for P &C and Life.

I have been appointed and actually in business for about a month now.

So far I've sold about 30 units. That is about 8 home policies, a few life, and about 18 vehicles.

My marketing systems are as follows: I telemarket on Saturdays and a few nights a week. I have done a few direct mailings with phone call follow ups (I sent out about 250 letters with lottery tickets, which was my way of getting a conversation started). I have advertised in a few neighborhood news letters. I pay for internet leads through NetQuote (any opinions on that would also be appreciated), I have visted with apartment complex's (dropped of donuts and my cards), and am meeeting with a couple real estate agents and brokers this week and taking them out to lunch.

I DO NOT MIND WORKING 60 TO 70 HOURS A WEEK. I just dont know if I'm spending my time, and money, wisely.

Are there any other avenues I should pursue? I've been telemarketing on Saturdays, Mon (4-7), Tue (4-7), Thu. (4-7). I get about one bite for every 10 that answers. Is that normal? What do you people think about paying for leads? Meeting with agents and brokers, etc (what do you offer them in return for referring you to their clients)? I've had some people tell me the apartments are a waste of time, but I've cross sold a couple life policies there.....

Thanks again for any help.

Justin

First of all, have you defined what exactly it is you want to do? I mean I would focus and prospect on selling one product...then I would pick 3 or 4 marketing ideas and do those the BEST you can. Sounds like you are trying the "shotgun" approach to marketing which will burn you out and get much less accomplished.

Try, for instance on prospecting and marketing for just auto insurance and focus on 3 or 4 marketing ideas to accomplish this. You will be much happier and much more focused.

You can always cross sell these people once you have the fish on the hook. Be a "Niche" marketer, not a "generalist" you'll have much more success and be much happier.

 

[Hefe]

My feelings on this are pretty simple. I get paid to write policies. So all of my effort goes into writing policies. That excludes making phone calls, ($10 an hour work, pay someone else to telemarket) I'll send out mailers the day the percentages of closing gets better,
and I don't want the type of clients that buy insurance for "lotto tickets." I suggest building meaningful relationships, writing policies for solid clients that refer, and repeating the process as often as you can. "In my humble opinion."

That's great and I'm sure we all strive to be in that spot, but realistically, no one starts off in a spot where client referrals are frequent enough to sustain business.

Most people that post on here asking for marketing ideas need a way to get to that point from square one.

Personally, I'm 3 years in and have tried just about everything the OP mentioned (with the exception of lottery tickets). I'm trying to get to the point where client referrals are enough to keep me busy but I'm not there yet.

Netquote has been very temperamental. It goes hot for a couple months then cold for a could months. Probably has to do with them flooding the leads with "fakes" when sales are down.

Mailers have been ok but only because I set out with a low expectation. I'm also convinced I'm not tracking them all properly because some get the mailer, go to the website and then call.

Internet hasn't been great but the agency I'm at is very old school and doesn't even care if they have one. They won't pay for a professional one.

I joined a networking group that has produced 3-4 leads per month pretty consistently. Try looking for one of those. In my area LeTip and BNI are the two big ones.

I believe that mailers targeted near the date the homeowner purchased the house could work if they included an offer for a free sandwich, or carwash as was mentioned.

Talking to realtors, mortgage brokers and escrow officers is good too.

 

[houcoogster]

Scratch the apartments, take the donuts to the real estate queens.
Don't waste your time and money buying them lunch.
You're calling ability seems to be your money!

 

[1manshow]

second that....focus on...and track ROI on every marketing method....kill the ones that don't pay back

netquote were crap leads when we tried them "both" times- ROI was terrible

telemarketing has been our- #1 ROI
print ads- #2
referrals- #3
direct mail- #4
internet(from our site)-#5

making sure you have a good, updated,properly filtered list has been paramount in every instance

Good luck

 

[desert boy]

I was always taught you should have 6 marketing events happening at once.

Track them, ask every person that calls, where they got your number from and analyze that.

What works for one, might not work for another.

You must stay consistant at it! If you do mailers, mail the same area every 2 or 3 months. I was also taught, someone must see your name 8 times before they will call you.

Go after realtors and mortgage people, dont have 1 or 2, get 10-12 in your pocket, which means you will have to meet with 20-25 of them to get them to send you business. When they do send you business, reward them for it, take them to lunch, take them golfing, so something that someone else isnt. Make friends with them, not just a business associate.

I have a realtor who sends me business, we both love hockey so we go to hockey games together. You must stand out from the other guy. Make friends, go to a happy hour and have a couple beers with them, but do NOT get drunk, shoot some pool with them, make them have fun with you.

Referrals from mortgage and realtors are awesome, the client already trusts you because you come highly recommended.

 

[1manshow]

One thing I do that may seem a bit over the top...but...
I have calculated a "lifetime value" per average client. Based on average length of tenure, average commission, average number of referrals, etc. So ROI on a print ad for me might be 3:1 first year and 15:1 based on lifetime value

My last print ad (this week) was 1/2 page in local newspaper- result was 9 calls that day x .60 close ratio= 5 policies x 110 avg 1st yr commish= $550

also...5 new policies will generate 1.5 referrals and will also be upsold and additional .7 policies in the next year...they will stay with the agency an average of 7 years so...total client value for that one advertisement was......Good