The past few months have been filled with ups and downs for producers. Although some firms are seeing sales numbers return “back to normal”, that is not the case for all companies. Sales numbers are usually a good indicator of success, but now that your producers most likely aren’t making as many new sales (though they may be better off for retention), what should you expect from them? Perhaps you’ve furloughed some employees and have brought them back with your stimulus check (even though your usual workload has not returned). So, if they can’t perform their main role of selling, what expectations should you have for your producers? Here are some aspects to consider: (more…)
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Redirected – Researching Prospects Before a Sales Call
Let’s talk about the right way to go after prospects. It’s all about the warm call over the cold call: research your prospects. Research will allow you to have a better understanding of the company you’re calling on, which will lead to a successful conversation with your prospect. This information will let you personalize your insurance pitch to create a unique connection and build rapport with each prospect. Not only will you grab the prospect’s attention by “due diligence” demonstrated, but they will be more likely to listen to what you have to say! Perhaps even more important- research (i.e. qualifying) will offer insight into whether a prospect remains pursuable.
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Multi-Channel Marketing Builds Credibility
—Reprinted with permission from Professional Insurance Agent Management Services Inc.—
Multi-channel marketing, or integrated marketing, is the practice of networking with potential customers using a combination of indirect and direct communication channels—including traditional forms of attraction (e.g., outbound phone calls, direct mail, networking events, published articles or public speaking), and digital (e.g., website marketing, email newsletters, social media and more). (more…)
Uncover Your Agency’s Value Proposition
—Reprinted with permission from Professional Insurance Agent Management Services Inc.—
In addition to a reliable prospect list, 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 to differentiate in the insurance industry. 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.
It’s easy for an insurance agent to be a quote shop, but in an effort to not become commodity-based, let’s explore how to uncover the value proposition to get the insurance buyer’s mind away from just thinking about the price of a policy. That is not to say that the cost shouldn’t be part of the prospects’ mindset, as saving money often is the first consideration. However, how you save them money is part of your value proposition. A solid value proposition demonstrates credibility and expertise while developing trust.
The End of Summer: A Strong Finish to 2019
By Jessie Geevers
Back in the beginning of the summer, we provided tips to keep your sales pipeline flowing through the summer months. Now let’s keep the momentum going as the decision makers return from their summer vacations, eager to finish out the last quarter strong.
Track your efforts and strategize.
Identify the prospects you contacted these last few months via phone or email, and ask yourself the following questions: Aside from traditional forms of outreach, did you utilize any direct mail campaigns or email newsletters and track clicks? Did you host or attend any summer networking events or conferences? Did you enter new business cards and contact information into your CRM? Did you get your foot in the door when business was slower in the summer? If you engaged in any of the above, hopefully you were recognized for your efforts to distinguish your company among the competition. Your summer efforts can push you forward in the line of competitors vying for the same business now that fall is around the corner.
There is no time like the present to follow up. Find out if there were any holes in your lines of communication. Who did you meet with this summer that should hear from you again? Identify these opportunities and strategize by assigning priorities to each task. (more…)
The Consultative Sell on an Introductory Sales Call
Ask Questions To Learn About Your Prospects’ Wants And Needs
It is easy to fall into the trap of “I’m calling to give you a quote” rather than engaging in a meaningful dialogue. Asking good questions is the best way to learn more about your prospect’s needs and desires while, at the same time, building rapport. Rather than being viewed as “another Insurance agent”, you will become a valued advisor. This technique is referred to as consultative selling.
It would be easy if there was one right set of questions to ask that would always guarantee responses that we want. The best approach is to create a mix of open-ended questions that get your prospect talking, along with questions that easily yield a “yes” response or get the prospect thinking of what their current broker is NOT doing for them. (more…)
Pay-As-You-Go Commercial Insurance Startup Coverly Readies For Launch
Source: Coverly
As in integral sales partner to clients in the realm of Commerical Insurance, MarketReach tasks itself with taking the lead to identify emerging industry trends and understand what these trends might mean to our clients’ business operations long-term.
Commercial Insurance Industry – Value Proposition Statement: What it is and Why you Need One
Learn the value of drafting a value proposition, the competitive advantages that you can reap and pick up some quick tips!
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