I am interested in selling life and health insurance. I've found this forum useful and having read John's guide I'm now at the point of trying to decide if I could actually make a living in my local area. My issue is that I live in the sticks. In North Dakota. I'm a farmer. (But I have previous work/education experience in finance/economics.) There are small towns around me, but I am an hour to two hours from major towns. (with population over 50,000) My thought was that I would telemarket hard in a particular area and spend a lot of time qualifying leads, then set up appointments so that they were grouped together.
High gas prices and low population density are major obstacles, but my thought is that there is probably a whole lot less competition for the few customers that might be out there. Most of the online quoting sites don't even cover North Dakota. Plus I think 4 our ot 5 people work in agriculture and so are self employed and need their own insurance. There are relatively few large employers that provide group coverage.
Coverage wise there are also relatively few companies offering individual insurance. American Family Mutual, Assurant, Blue Cross/Blue Shield, Companion Life, Guaranteed Trust Life, and World according to the State's insurance page. I was thinking I would be an independent agent and try and offer as many of these as possible. I really like the idea of being able to educate someone rather than being forced to push 1 product.
So any advice? Am I kidding myself to think this might work? I would appreciate any strategies or tips you might have, particularly from anyone that has a model of how to make sales in a rural environment.
Realize that your market is on the Internet today, I live in a very rural area in Illinois, in fact my town population is 250 all Farmers, Not my style, I use the power of the Internet, I dont drive to see anyone, no need to, for that kind of Client. I dont even market in my own State. So you need to decide what your buisness module is? Local or Internet.
Lyle Blessman ("The Blessman Approach" published 1978) is one of Northwestern Mutual's all time great producers. He started in the small ranching community of Sterling, CO, in 1952. The moderator of TGP works rural markets in the Plains and Midwest calling on ranchers and small business. He says that he is often the first person who has ever cold walked any of those ranchers or businesses.
Sounds like you have a good market there, you could certainly telemarket your region and sell online. Offering all major carriers in your state will give you an edge and you probably will find you are helping your area's locals very much. Also, marketing out of state is a fantastic way to branch out in your situation. All the best to you.
------------------------------------
You can't close if you can't open.
Thanks for the input. I wonder about the success of closing online in a rural environment? I imagine a number of potential customers are going to have limited internet or at least not be sufficiently tech savvy to feel comfortable picking out an insurance plan online. Maybe that is just a stereotype on my part. I like the idea of working online, but it sounds like some people have had success with face to face sales as well. I'd like to hear more of these.
If 100% of your sales are done online, then expanding into another state certainly seems appealing. I would be tempted to try and sell in Florida, just so I could imagine I was there in the winter. Seriously, is there any particular reason why you would choose to expand into one state over another? Are there certain states that should be avoided and some that should be considered?
Why not do both? Use the internet and use local connections. This is what I do, I use the internet for life leads and go b2b for business leads for group and other stuff. A little variety keeps you fresh.
Lyle Blessman ("The Blessman Approach" published 1978) is one of Northwestern Mutual's all time great producers. He started in the small ranching community of Sterling, CO, in 1952. The moderator of TGP works rural markets in the Plains and Midwest calling on ranchers and small business. He says that he is often the first person who has ever cold walked any of those ranchers or businesses.
This is the truth, I'm setting up one millionare farmer with a med sup/LTC deal and have another that wants info. I live in Iowa and do business in the city and country. Do your self a favor though stop out and see them.
I used Franks approach (he's a great mentor on this site)
"I usually make appontments but I was out in the area seeing other folks, and thought I'd stop by."
I use a program called IBoomerang. My clients only have to be able to go to my website and click on the "Web Conference" logo. At this point they enter their name and email address. The system then scans their computer and usually upgrades their Java softeware. Then they sit. I tell them DO NOT touch your computer until I tell you to. I click on my logo and at that point they see my computer screen. I can open the brochures, explain the coverage, and then do the entire application while they watch it on their screen. When it gets to the point where they need to sign, I turn control over to them, they type their name in the appropriate spots, I take control back, and, bingo, application entered and done. Usually about 35 minutes. REAL sweet!
I would say that you could really get it done going face to face. Most insurance agents would rather no go out and see the client. So that gives you the leg up when you are talking to them face to face.
Good old farmers like to see who they are doing Biz with.
selling in the sticks?
Linear Mode
