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Staying on Top of Prospects in a Remote Setting by Phone and Email

As seen on Insurance Journal, written by Amanda Puppo of MarketReach Inc.

The work-from-home environment is the ultimate test in staying on top of prospects. Unnurtured relationships can easily fade, or you can take this as an opportunity to put your best foot forward. One thing we know for sure is that everything has changed since the COVID pandemic. However, the need for insurance has not. That yearly renewal is happening no matter what. Opportunity awaits when you follow these tips to stay on top of prospects!

Build Rapport & Empathy

Gatekeepers have one job as it relates to receiving sales calls – they are expected to screen out calls that may be deemed as not deserving of their boss’s time. For this reason, it’s not shocking when you make a phone call and get shooed away. Yet, insurance does require discussion at least once a year, and either they will renew or switch. There are few topics that are difficult to cold-call for, but there are two things we know for sure:

Producers have the power to make a difference in gatekeeper responses by building rapport and demonstrating empathy.

Making warm calls over cold calls wins every time.

When you call, be sure to show the person on the other line that there is a name, a face and a real human behind the call. Use cues from the gatekeeper, such as tone and pace, to build some commonalities. If there is a timely light-hearted topic (upcoming holiday, weather event, etc.), use it before rushing into a sales pitch or asking for important information. Did you ask them their name on a prior call to utilize it on the next call? Use a script to cover all of your qualifying questions, but mostly be (your best) authentic self.

After a strenuous year, empathy has become essential. Prospecting by phone does not have to be robotically transactional. According to Hubspot, 69% of consumers said a positive sales experience begins with a representative listening to their needs. Another 61% emphasized the idea of not being too pushy. It is essential to listen to your prospect carefully and deliberately in the answers they give and explain how your value-proposition benefits them. If you have historically been a “quote shop generalist” – this may be an opportunity to rethink your value proposition by industry. Consider how you can use your expertise to be thought of as a “trusted advisor” through consultative selling. This means asking the right questions and demonstrating your understanding of their type of business and industry. By building rapport, being empathetic and asking solid questions to understand needs, you can connect to prospects on a deeper level. In turn, your company can develop long time customers and gain referrals.

Requalify and Research

Closing a sale requires more than just one good conversation. A relationship is excellent on the surface, but if the prospect is not a qualified opportunity for your company, it will not result in a profitable sale. Some groups only pay commission past the first year to commissions over $2,000, for example. So, if you’re going to spend your time, you may want to do so in the larger commissioned opportunities. To delve deeper, your company should first determine whether current qualification factors make sense in light of the pandemic and reduced workforces. Various industries had to pivot, including your prospects’ businesses. By requalifying, you do not waste time and resources targeting your marketing and sales efforts to the wrong organizations.

Your qualifying questions may include decision-make name and staff size (since we can’t ask the receptionist what premium they’re paying or what their MOD is). These qualifying questions answered make the next call show that you are ‘researched’ and you may have an easier time getting in the door – thusly – creating the warm call. A well-researched prospect will make your next phone call better and establish credibility.

Research requires both qualification phone calls and the internet. Both are important and should be used in tandem to determine whether a prospect is the right fit. Talking on the phone with a gatekeeper can give you the tiniest bits of information, from makeup and structure of the company to how many trucks they have, staff size and even an upcoming vacation for your decision-maker. When researching online, be sure to check out the company’s website (the “about us” and leadership page, especially) along with their LinkedIn pages, where you can find information about decision-makers, size of business and further contact information such as email. See if they have any statements about COVID-19 and their current situation. However, do not fall into a Google research tornado. Look for the key points quickly, know when to reach out by phone and know when to move on to the next prospect.

‘After a strenuous year, empathy has become essential. Prospecting by phone does not have to be robotically transactional.’

Research not only allows you to qualify, but it also helps with our first point, building rapport. It will show the prospect you spent the time to get to know the company and make a unique connection with them!

See if MarketReach is right for you!

If you are looking for more qualified B2B leads, more sales appointments with decision-makers, and a reliable telemarketing partner – then MarketReach may be the partner you’ve been waiting for!

Set up a free consultation to find out.

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Multi-Channel Marketing

Now that you have built a foundation and researched your prospect, it’s imperative to stay fresh in their minds. Though the prospect only renews their insurance once per year, subtle brand awareness throughout the year will allow your name to become recognizable once it is time to give them a ring.

How do we continue to let automation allow us to stay top of mind with our prospects? Consider the use of email along with each sales call, as well as an automated email newsletter once a month and direct mail on occasion. An email gives the decision-maker the path to gain more access to your company through links and calls to action. Even better, email marketing statistically measures its efficacy, so you can understand if it works for your target market. Retention Science has shown that using a decision-maker’s first name in the subject line will make them more likely to open the email.

Dale Carnegie said, “A person’s name is to him or her the sweetest and most important sound in any language.”

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What’s a Book of Business Got to do with Picking Up the Phone?

What’s a Book of Business Got to do with Picking Up the Phone?

How can calling still drive leads? It’s suprisingly a very effective way of marketing. People always have their phones available, so contact has never been easier. You just need to know how to sell to whoever answers your call.

After speaking with several successful, tenured producers at the Professional Insurance Agents’ (PIA) annual conference in Atlantic City, it was interesting to note that many built key blocks of their book of business through outbound calling.  Evidently picking up the phone has got a lot to do with a book of business.

Some will protest this statement, citing, “But it is 2022 now.  There is no way a producer could profitably or reasonably add new clients to their book of business by pounding the phones, is there?” The answer is, yes. Here’s why.

(more…)

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Sales Tips for Insurance in 2024

After a long and arduous year, 2024 brings a fresh start. Now is the perfect opportunity to revamp your company’s commercial sales and marketing plan. This article will show you how any agency can improve its sales in the upcoming year, despite the challenges that may come along the way. Consider these insurance sales tips for 2024:

 Prospect List and Qualification 

Get started by evaluating your company’s prospect list. Identify your most qualified business opportunities. Take some time to reconstruct your target market and focus your attention on them – particularly, your Top 100. The pandemic has caused many businesses to change the way they do business, while others had to close down all together. Many producers focus on certain industry segments such as construction, restaurants and manufacturing, all whose ‘face’ has changed quite a bit this past year. It’s important to requalify your list to be sure you have the most practical targets during this time.   (more…)

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The Prospect List

The Prospect List

Even the idea of creating a solid prospect list can be daunting. Your prospecting activity in your list reflects your entire sales pipeline. The more activity against your target market (e.g., phone outreach, email, LinkedIn or direct mail), the better the likelihood of building trust and sales activity that leads to closed deals and more referrals.

To create a steady pipeline, you must rely on the paramount foundation of sales activity, which is best kept as a running log of emails, phone calls and other marketing techniques to get attention, and then acquire sales. Here are some small steps to make the process less overwhelming.

Identify Your Sales Targets

To identify your sales targets properly, start by mapping out your core niche industries and geographic radius. Commission opportunities based on staff size and industry will dictate how best to spend your marketing dollars. If you’re going after property/casualty insurance or workers’ compensation—those groups in which staff size is more important than class of business—determine the staff size minimums that still can justify a marketing-spend in targeting them. (more…)

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How to Keep Prospects Engaged on an Insurance Sales Call

How to Keep Prospects Engaged on an Insurance Sales Call

Let’s face it, keeping the attention of a prospect is hard. As a Producer, it’s sometimes difficult to differentiate from competitors. You will often encounter people who don’t have the time to talk, aren’t interested in listening to your agency’s pitch, or who will hang up immediately without giving the time to prove the value of your call. Oh, and we’re still smack in the middle of a Pandemic to add the icing on the cake! In a previous blog post, we provided some tips on how to gain a prospect’s attention during an introductory call. These tips included taking their guard down, using vocal variety, and asking smart questions. But, gaining a prospect’s attention is only the first step, getting them to stay on the phone, and engage is the next step. Consider these tips to keep a prospect on the phone once you’ve gained their attention:   (more…)

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Adjust Your Value Proposition to Fit New Risks

Adjust Your Value Proposition to Fit New Risks

—Reprinted with permission from PIA Management Services Inc.— 

Amanda Puppo
CEO, MarketReach Inc. 

 This past year, new risks are emerging that are affecting insurance agencies. According to a recent report, “… while insurance as an industry may be slow to change, its risk environment is not.”1 Amid the developing risks in the digital realm, the physical environment and the mid-pandemic world, your agency is figuring out how to adapt its value proposition to meet customers’ needs. This article will discuss some areas to consider when re-evaluating your agency’s offerings. 

What is value proposition? 

 Your agency’s value proposition is arguably the most vital element of your overall marketing messaging. A value proposition explains how your product solves customers’ problems or improves their situations. Let’s face it, it’s not always easy for agencies to differentiate from one another. From our work helping insurance agencies get sales appointments with their prospects, differentiating (on paper) has proven to be the most challenging piece of the sales process—but it is the most important first step toward an effective sales strategy. In order to consistently provide value and remain competitive in the market, adapt your value proposition based on the world around you.  (more…)

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Prospect Qualification and Appointment Setting to Land More Meetings

Prospect Qualification and Appointment Setting to Land More Meetings

This article was published on December 21st, 2020 in Insurance Journal.

The objective of prospecting is to find quality opportunities to narrow the sales funnel, and then consistently target that focused group with marketing messages to get noticed. For insurance brokers, you have the luxury of finding third party list sources that start you off knowing key data about your prospect universe. Instead of chasing non-qualified prospects — or worse, not even knowing who your prospect universe even is — prospecting followed by properly executed appointment setting leaves no rock unturned.

Every prospect on your list is a new opportunity to qualify, disqualify, set a callback or land a sales meeting for a producer. Phone outreach is the best way to land more sales appointments and the only way to determine if, in fact, the opportunities in your local universe or target industry are sellable. Phone outreach is also one of the only ways to incite two-way communication between a buyer and a seller, which will then lead to more closed deals.

What Is Strategic Prospecting Through Appointment Setting?

Appointment setting, also known as telemarketing, is based on strategically conducting calls in order to schedule introductory sales meetings with decision-makers. For best results, the prospects are pre-qualified through a qualification process, based on specific parameters set by your agency. Typically, to get in the door with workers’ compensation or property/casualty insurance, the qualifier is either total premium, or at least, staff size. Chasing opportunities that equate to less than $1,500 in annual commission is not good use of time or marketing dollars. Instead, reserve those opportunities to close for inbound only… Read more

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The Benefits of Crafting a Well-Written Prospecting Script

The Benefits of Crafting a Well-Written Prospecting Script

The most daunting part of making a sales call on the topic of commercial insurance is preparing for the unknown. Will I reach the decision-maker – typically a CEO or CFO?  What kind of questions will the decision–maker ask? Am I prepared with the best responses? Enter the sales script! Think a script is only useful for a newbie producer? Think again! With the new year comes an opportunity to dust off old material and think about our messaging in a new way. Taking the time to craft a script that is timely and relevant can mean the difference between a closed deal (great intro, effective probing questions and a convincingly delivered Value Proposition) and a lost opportunity (due to a poor introduction and lack of engagement questions that lead to a summary dismissal). Consider these benefits of taking the time to craft a new prospecting script for your producers:     (more…)

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The Power of Testimonials and Reviews

—Reprinted with permission from PIA Management Services Inc.— 

It is safe to say testimonials and reviews are great marketing tools. They are even more valuable (or sought after) when making a big decision, such as changing your insurance carrier. People want to hear about the good and the bad and, truthfully, anything they see on a company’s website will come with some bias.  

Hearing from past clients or customers is a good way for prospects to decide whether your agency would be the right fit for them. Ultimately, there are many benefits—for both your prospects and your agency—that come with sharing testimonials and reviews. Some of these benefits include the following.  (more…)

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Adapting your Agency’s Value Proposition

Adapting your Agency’s Value Proposition

As we slowly come out of the economic crisis, it will become increasingly important to emphasize your agency’s value during your prospect calls. Decision–makers may be slow to switch their brokers today or next month, but insurance is one of those buying decisions that MUST be made. Come renewal time, they will either shop their policy and switch, or they will stick with what they have, which is still a buying decision.   

In the months to come, show your prospects why they need your expertise so that when the time is right, they think of you. Undoubtedly, this has always been important, but since priorities have shifted, such as getting staff in an effective work-from-home model, Producers must consider their value prop even more to get attention, while we are still knee-deep into this pandemic. MarketReach can help script a new value proposition and deliver it to your prospect list through skilled phone outreach.  (more…)

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