Qualifed Insurance Prospects

You don’t have to find the world’s master sales guru to get answers to your deficit of qualified insurance prospects. You just need to concentrate on the three critical factors that determine sales prosperity:

1) The caliber of the prospects you speak to
2) The variety of prospects you talk with
3) The caliber of your presentation

Let’s take these in order over three posts. Today, let’s cover lead generation — locating qualified insurance prospects.

Your way of prospecting will be the main determinant of how many prospects purchase.

You’re prospecting method must only generate prospects with a high chance to purchase, i.e. qualified insurance prospects. Here’s the contrast of two prospecting systems. The first approach produces success while the next approach saps your vitality.

Cold-calling, a typical way of prospecting, produces prospects that must be convinced. You could be convincing to some degree to get the appointment and you end up arm twisting your prospect to meet. Once they hang up the phone, they reconsider. Are you shocked that many prospects cancel before their set meeting?  Are you finding qualified insurance prospects this way?

What would occur if instead, you took out an advertisement offering a free guide about a certain topic (e.g. “Three Reasons to Have Insurance Once Retired”)  in which you had experience? Certainly, the people who reply to the ad have interest in your offered item. That’s the kind of prospect you want–people who act, people who are qualified insurance prospects.

A young lady who a short time ago entered the field of real estate asked me about the best method to gain clients. I had her compose a brochure “Ten Errors to Avoid When you Sell Your Million Dollar Home.” We placed the ad in the food section of  the daily paper, we selected the day that has all of the food coupons. The cost of the ad does a whopping $250 and the real estate agent received 62 responses.

How long would it have taken to locate 62 interested and motivated people by cold calling? This method we have just described for gaining qualified insurance prospects allows you to make much better use of your time because your initial call is a warm call to a receptive motivated prospect.

Now you can see the difference and how you’re prospecting method determines the caliber of prospects you attract. So your prospecting MUST be based on the following model-you offer an item to people who meet your criteria (e.g. by age, revenue, profession, zip code, by interest, and so on) and you ONLY contact those people who want your package. The supplied package can be:

a) a guide or free-of-charge report
2) a free seat at a workshop
3) a totally free quotation
4) a free-of-charge analysis

Then, whenever you contact the prospect, you get in touch with them simply because they requested something of you. You are not asking for their business, you are not trying to twist their arm or convince them, you are contacting them to decide with them  how you are able to serve them. This puts you in the power position and starts the partnership on the correct foot with a qualified insurance prospect.

In a soon-to-be-published post, I’ll discuss the best way to gain high quantities of inquiries from these high quality prospects.

How Does ProspectMatch Work

Here’s a short video that describes the ProspectMatch system for gaining clients:

Insurance Marketing Helps Agents Earn More

A good number of insurance agents are actually financially poor. The Bureau of Labor statistics reports that average salary for insurance agents is usually under $40,000 each year. It is surprisingly dismal because the best agents generate a million dollars or more annually. Why the imbalance? The below average agents don’t have a idea that his or her work is to obtain and keep customers. The inferior insurance agents undertaking is all about selling insurance products. There is a large distinction between selling financial products and services (substandard agents’ aim) and on gaining and keeping clients (prosperous agents’ emphasis). Why don’t we explore.

It’s crucial to fully grasp the main issue and how to generate profits as an insurance agent.
Your main goal, if you want to get rich, should be to have in person conferences with qualified prospects who fulfill two criteria:
1. The prospective client has dollars in their own control (i.e. not tied up within a 401k)
2. The prospect is interested in possibilities to do better with their own capital.

Should you have any additional criteria, you are going to give up profits as an insurance professional. For example, should you have still another requirement that the potential customer have interest in annuities because you promote annuities, this will set you back a lot of sales because there is NO Potential customer who cares about annuities. Prospective customers value their own goals like

1. Safety of principal
2. Tax alleviation
3. Liquidity

It is the agent’s job to first clearly identify what the prospect desires to accomplish and then, if appropriate, show the prospect how the agent’s products and services can fulfill those aims.  To find as many “matches” as possible, the agent first needs to maximum his appointments.  But most agents don’t do this.

Most insurance agents skip this concept and instead of concentrating on the maximum quantity of visits with prospective customers who satisfy the two criteria above, the insurance agent will call potential clients to determine their desire for annuities, managed money, life insurance , etc. In other words, the poor agent looks for prospects that want his products. However such a call makes it obvious to the prospective client that your attention is in YOUR solutions and service and not his or her aims. That’s why you really don’t obtain the amount of appointments you need to. That’s why you’re poor.

Let’s provide an example. Our company, ProspectMatch, runs plenty of ads on the Internet to find consumers thinking about financial subjects. The offer which got the very best response was for a booklet about methods to enhance social security earnings . This is a often searched topic for seniors. Yet every insurance professional told us they don’t desire those prospects. ” I can not generate any money dealing with people about social security.”

This is a myopic view that keeps most advisors poor. Many of these potential customers who choose this booklet on social security income satisfy the two requirements above but given that the advisor is SO centered on their own programs, his or her OWN goods and services, they will never have an appointment with viable prospects who may become good clients. It never occurs to poor insurance brokers that individuals interested in a guide on increasing social security income are curious about more income, from any source. So they are often excellent candidates for immediate annuities. However the insurance pro’s product-centered tunnel vision never enables this possibility to surface.

Focus on the big picture–meet with people you can help and don’t Focus on your products and services. The financial offerings are merely tools to help folks accomplish their own objectives, instruments that don’t need to be talked about until the last 10% of your discussion. Be a prosperous insurance agent.

ProspectMatch Recommends Google Adwords for Financial Advisors

Google’s business for advertising your business organization on its website and its affiliate sites is called Adwords. The service allows you to create your own ads, choose key phrases to fit your ads to your desired prospects.  You determine the cost of your advertising by bidding the rate you pay only when people click on your advertisement This is called a cost per click program. Any person wishing to advertise a business on Google can enroll in this platform. It’s a great service for insurance agents and financial advisors.

Google AdWords is simple: you create ads that Google shows alongside regular search results. Your ads appear when someone researches key phrases you’ve chosen that you want to be associated with. For example, if you have a Internet site that to sells life insurance, you might want your ad to appear to the right of Google results when people search for “term insurance” or related words .

Different from traditional advertising, you don’t pay Google when it exposes your ad; you pay only when somebody clicks your ad. If a web surfer researches Google for life insurance, Google shows your ad alongside articles and news about life insurance. If somebody looks for Google for your key phrases, you know they’re probably looking for your offerings. AdWords can therefore be a great choice when you want to direct your ads to a specific audience, such as people looking for life insurance.  AdWords is a sort of direct marketing, much like direct mail or telemarketing, allowing your message to be delivered individually to each potential prospect.  Compare this to say a newspaper ad where you pay if prospects respond or not.

AdWords may also be a easy option when you have just limited financial resources for reaching your audience, as is the case with many rookie financial professionals. Even though Adwords mat be an cost-effective marketing program, know that there are LOTS of others bidding on hot important phrases like “life insurance. Because AdWords doesn’t charge a set price per ad, you bid on the key phrases that you want to trigger your ads and those bids are bidding against others (e.g. other insurance agents). If you bid more than others who bid on the same targeted phrase, your ad likely appear near the top of the paid links.  For example, if you set a upper limit bid of 45 cents for the phrase “life insurance”, and the next highest bid is 33 cents, Google gives your ad priority amongst the sponsored  links it shows when somebody searches “life insurance”.  But with a hot key phrase like “life insurance”, probably the top bid is $15 per click and your bid of 45 cents will make it so that your ad is never displayed.

To determine who gets top display position among the paid links, Google considers the bid and factors how many people who click through each ad, giving preference to the more popular ads. You can’t, therefore, buy the top place unconditionally but your bid is the most main element in determining how many views your ad gets.

The trick when you get good at using Adwords is finding key words where you have little bid competition but you get good traffic.  Once you find on the sweet spot of important phrases for your business, you have a solid method for getting leads.

If it all looks like too much work, retain ProspectMatch to manage it for you.