Insurance Agent Forum

[briko3]

I know what people usually say. Work hard, make calls, keep trying.

Here's the problem. I need some serious guidance. How much is honestly enough cold calling? What should I really be doing to get started. IF YOU'RE SUCCESSFUL NOW, WHAT WERE YOUR TYPICAL DAYS LIKE WHEN YOU STARTED.

I feel like I try a lot of things, but when they don't work, I give up and try something new. Problem is that I've been doing this for 7 months now, and I'm still not getting anywhere. I'm starting to wonder if what didn't work earlier might have worked if I had kept at it.

So what I really need to know is what you did at the beginning that made you successful now. What did you say in your cold calls? Did you offer something specific, try to set an appointment (how?) or were you vague because you were afraid you wouldn't mention what they really wanted. I WANT TO KNOW I'M SAYING THE RIGHT THINGS, SO IF I'M NOT SUCCESSFUL AT FIRST, I KNOW IT WILL COME.

I have a feeling that this is what a lot of us "new to the business" people REALLY want to know. It just seems like all I see is responses like, "Well, you need to find what works for you", or "make more calls", "buy more leads". I need specifics PLEASE.

Sorry if this sounds desparate, but I've put a lot on the line to change careers to this and I seriously can't fail. I love meeting and interacting with people. I just need to be better at finding the people.

Thank you guys so much for your help.

- Chris
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I guess what I really mean, is show me how to fake it until I make it. I know I will find what works for me in the long run, but I need to mimic successful people now until that day comes.

[jjjtrio]

"I feel like I try a lot of things, but when they don't work, I give up and try something new."

Don't be a jack of all trades and master of none.

Find what you like to do and master it.

Perform a search on here for things such as phone script, cold calling, presentations, and phone sales. Take what you like and make it your own.

[briko3]

So what do you open with when you cold call someone on the phone. (I realize that it might be a dumb question for someone that offers leads, but if you don't cold call now, what did you say when you did?)

[SoCalBroker]

Life?

Health?

P&C?

[briko3]

Mainly Life, but also employee benefits and annuities.
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And disability

[somarco]

Life, employee benefits and annuities are three different and distinct kind of sales . . . with three different approaches . . . and three different kinds of prospects.

Life insurance can be a tough sale. Timing is everything. More than the others, it is an emotional sale if done properly.

Employee benefits can have a very long gestation period. You can expect to wait anywhere from a few months to a few years before getting the order.

Annuities can be the toughest of all. You need to have patience and the ability to instill a lot of trust.

Disability is probably the easiest sale because you are appealing to greed. Also one of the toughest to get through underwriting.

You are spread too thin. No wonder you are floundering.

[briko3]

I know!! I've been indroducing myself as a financial advisor (which I am), but I feel that it's too broad and people don't ever feel like they need a financial advisor.

So how should I present myself on the phone where someone thinks...hey, I need to meet with this guy?

Thanks for the comments!

[moonlightandmargaritas]

Originally Posted by briko3

So how should I present myself on the phone where someone thinks...hey, I need to meet with this guy?

You don't. Cold telephone calling ain't gonna get it.

What is needed is a marketing plan with four or five elements in it that bring you a steady stream of new prospects.

[myinsurebiz]

Live Transfer Lead -

Good Morning - thanks for calling _____ - are you calling today to save money on your current insurance plan OR are you looking for a new affordable plan today?

Email Lead / Lead Card -

Good Morning June? This is Tom with ____. You recently asked us to contact you about our affordable insurance plans by __ (insert source here) and I'm calling today to see what plans I can get you qualified for today.

June - were you looking to save money on your current insurance plan OR are you looking for a new affordable plan today?

Cold Call -

Hi - this is Tom with _____, am I speaking with the person that makes the decisions about saving money on your employee's health care plan?

Yes -

Great . . .

No -

Oh OK - I'm sorry. Who would I speak to about that?
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I tried this yesterday and it worked:

Ms. Jones - you had requested we give you a call today about saving you money on your insurance plan. Now - I'm not calling you today as an insurance agent - but as a pain reliever - kinda like a Goody's Powder. Ms. Jones - You ever use Goody's Powder to get rid of an ache or pain ?

Yes -

Oh yes -me too! I love Goody's. Well Ms. Jones - if you are experiencing the pain of having to pay high premiums each month for your insurance - then just think of me as your Goody's Powder . . . ( laugh a little )

Now - Ms. Jones, tell me where it hurts the most - in your wallet right?

Well - thank goodness I called. Let's help each other. Who is your current carrier?

Etc, etc, etc

No -

Well - let me ask you Ms. Jones if you are happy with your present insurance plan - why did you ___ (call, send in the card, etc) ?

Discover their "pain". Listen to their "plea" for help. Offer them your " pain relief solution". Then "close" the deal . . .

[somarco]

Selling over the phone is tough. Trying to do it with cold calls even tougher.

If you are going to do that, you need a hook you can get out there in 20 seconds or less. You also need a product with fast issue. Check with Mark Rosenthal for some ideas.

Otherwise you are going to crash & burn.

[jjjtrio]

Myinsurancebiz is 100% correct. You have to find out what there needs are and offer a solution.

Ask questions like:
Ms. Jones, what made you send back the card we sent you?
"............" request a quote on xyz.com
"............" press "1"

Then sit back and listen. When they are done, tell them you can help and how.

Ms. Jones, what I will do is search the entire insurance market to see which companies will offer you the best coverage at the best price. I just need to get some information about you to start the process. How does that sound? (wait for a response)

Gather the information you need to run a quote. Offer them 3 different options, then ask which one they would choose.

That's the one I would have chosen also.....

Ms. Jones lets get you started today so that ( revert back to their need)....

[briko3]

That sounds great for leads, but the problem with that is I don't use leads. What I really need help with is prospecting, and with that, what to say on the phone to a prospect that I am cold calling.

So did all of you guys start out with leads?

[jjjtrio]

I have never cold called. I started out w/ direct mail reply cards and shared leads. I'm sure you know what i use now.

Check with Markingriffin on here. He has a lot of good ideas that you can implement.
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I think it would be very hard starting out with just prospecting.

[the mayor]

I don't know if this helps, but:
I've been in the commercial P&C market for about a month.
No leads.
I picked a few niche markets out of the hat and cold called( which I haven't done in 15 years).Ugly at first, but I got better..and got appointments...and got a few sales.
Dug through the agency files...and the health benies sales guys files...made some calls..got some appointments..and a sale.
Networked with everyone I know and swapped cards. Swap cards with everyone you give money to...both got me a few leads.
And even if they say no...ask them if they know of anyone with a need. What's the worst that can happen in any of the above?
As far as what to say on a cold call, what do you say when you call a friend? What do you say when you order a coffee or food? What opening sales line ever got you interested to buy something?
If I can do it, so can you.
Maybe you should buy my new marketing program:"You just need more self-confidence,Stupid!"( It's like tough love...with out the love)

[myinsurebiz]

I find cold calling for health is MUCH easier than life.

Leads are easier to generate. No DNC restrictions. Dialer friendly. Normal working hours. In most cases - they have money and can afford it. Just an easier cold call . . .

Plus - you are dealing with a small business that is probably over-paying for their insurance, has a Limited Benefit Plan or no coverage at all. They are either going to tell you to kiss their #$% or they will be receptive to listening to your pitch.

All the above coming from a guy that hated Health two months ago.

Tom

P.s. - Dialer leads are cheap for health as well - $3 or $4 . . .

[Corporate Death]

$3 and $4 dialer leads? Can you expand on this please?

Originally Posted by myinsurebiz

I find cold calling for health is MUCH easier than life.

Leads are easier to generate. No DNC restrictions. Dialer friendly. Normal working hours. In most cases - they have money and can afford it. Just an easier cold call . . .

Plus - you are dealing with a small business that is probably over-paying for their insurance, has a Limited Benefit Plan or no coverage at all. They are either going to tell you to kiss their #$% or they will be receptive to listening to your pitch.

All the above coming from a guy that hated Health two months ago.

Tom

P.s. - Dialer leads are cheap for health as well - $3 or $4 . . .

[jjjtrio]

I think Tom is refering to the type of dialer lead system we offer.

The target is small business owners with 0-6 employees. We broadcast a specific prerecorded message to multiple numbers at a time. When someone is interested they press "1" and transferred immediately to any number you wish. Not everyone is going to be pleasent to say the least, but all you have to do is press the (*) key and wait for the next transfer.

We set you up with a web based control panel that allows you to:

Start and stop your campaign whenever you want.
Move a list off or online to change the area you want to call.
Listen to all recorded conversations.
Run reports.
Increase or decrease the number of calls made per minute.

It's a different and economical way of generating Leads.

[beatuplunchbox]

Don't over complicate things for yourself. Sometimes going after new methods constantly can be like playing the lottery, you end up wasting a lot of your marketing budget and time when you could just tweak and perfect a few tried and true methods (like 3-5) and be a lot better off.

The other thing is when you are prospecting, no matter how you are doing it you have to ask open ended questions and then shut up and LISTEN for the answers. If you ask yes/no questions you will get shut down a lot more when calling.

[somarco]

"It was like that when I got here".

Is that by Obama?

[rsli-moses]

Are you a part of any networking groups? I work with a lot of brokers who are at every chamber of commerce, business journal, young professionals, christian professionals, etc weekly meetings.

The more people you talk to, the more opportunities you are going to have.

Don't forget to set goals for yourself. Annual, monthly, weekly, daily and hold yourself accountable. For example, I try to have 40 face to face meetings a week and 25 proactive phone calls a day.