Question

Topic: Strategy

Sales Tips For Commercial Insurance?

Posted by Anonymous on 9/5/2008 at 4:06 PM ET 125 Points
I have 7 years of commercial insurance 'service' experience and have recently gone into a 'sales' role with a fairly new agency. I am doing alot of cold calling and relationship building, in order to write business. It is a slow process, but one that I do not mind.

Does anyone know of techniques or certain ways that this can be more successful for me? I am willing to be creative in order to be remembered by potential clients.

Thanks!
To continue reading this question and the solution, sign up ... it's free!
SUBSCRIBE
Or, SIGN IN

RESPONSES

  • Posted on 9/5/2008 at 4:21 PM Member
    Check out HighProbSell.com - their training has produced some very successful sales people.

    Make it Great,

    John
  • Posted by CarolBlaha on 9/5/2008 at 4:32 PM Accepted
    When I teach my "automatic salesperson" program we build a personal marketing plan for the next 30 days, and a tracking sheet similar to an xcel spreadsheet.

    Of all the marketing activities you can think of, commit to about 10 and how many times you'll repeat them over the next month. In pioneering a territory, track the activity level vs sales level. In sales, effort almost always equals volume. Spend some time brainstorming.

    Cold calling is one-- be specific, how many each day. The day isn't over till its done. Let the routine carry you thru your day. I can't tell you how many times that last call (that I had to push myself thru) make my month. And its a typical comment of my clients. Schedule networking events, taking someone to lunch (how many/when), sales letters, follow up calls, building a leads group, fusion marketing partners. Again, think of 10 activities you will track for the next 30 days.

    As far as memorable-- the book I contributed to "Guerrilla Networking" quotes if you want to be remembered be memorable. The easiest way to do that is to be a resource. Put the clients profitability first and yours will also come. It will also guide you so that every call has a reason.

    Having said that- build your brand. All marketing collateral should have a consistent appearance. Create your tagline and repeat it often. When I leave a cold voice message I don't close with "goodbye", but "sell well and prosper". You keep saying the same thing and when they hear and see it often, it starts to sink in.

    Sell Well and Prosper tm
  • Posted by michael on 9/5/2008 at 4:42 PM Accepted
    I also sold insurance (Personal, group and commercial) right out of college.

    I love cold calling but I would avoid the "Pursuit of Happyness" model of dialing without thinking. Take some time and look at the company's website for information you can use on the call.

    If the weather is nice, hit the streets. Personal cold calls are much more rewarding and you'll be surprised what the receptionist will tell you.

    Michael
  • Posted by CarolBlaha on 9/5/2008 at 9:15 PM Member
    Geez how dreary... Here us my rant.

    Its up to you to choose the "r" word-- choose recession or resiliency. Which is the topic of an article that has been picked up by several biz sites, here is the link to one https://www.evancarmichael.com/Sales/3049/Choose-Your-RWord.html

    I doubt the personal reward of choosing a career because its full of low lying fruit. And if u read my article, this pullback is nothing. In my construction related rep business-- I haven't seen a drop in income or volume at all. Make your luck-- and your cold calling (personal and face to face) shows u will too. Sure housing starts are down-- but people are nesting, renovating their homes knowing things will turn hat theyll sell later-- choose to be resilient.

    I learned to be resilient in the 80's -- Pittsburgh was the 3rd largest HQ city -- first NY, then Chicago, then Pittsburgh. When Steel left Pittsburgh all hell broke loose. At least today you can buy gas-- then it was every other day-- quite a lesson in planning for a straight commissioned over the road sales rep. Then the base of all those headquarters left the city. I sat with competitors wailing at the local Chamber biz after hours-- these companies will be back. I vowed I wouldn't be a whiner.

    Want to talk creating your own luck? With all these companies leaving, the aftermarket (used) furniture biz was booming. Our base wasn't buying but selling. But I was selling a high priced major manufacturer-- and those were the crayons in my box. I sat down and thought of those who would not decline -- even benefit from these times. And I did some damn pretty lawyers, medical and accounting offices.

    Short of it, there are people who do not consider biz insurance a luxury. This is a lesson in targeting-- think construction, medical, accounting, and go from there. Phils post is good because he is in a backward way telling you to target.

    I just added a service to my rep agency. Not ready to launch yet-- we have some certifications and people to put in place. But I am shopping for insurance and I'd be insane to consider this biz in today's litigious society with out. I know-- I will be sued (E&O) no matter how good I am. So does everyone in certain niches.

    Look for that niche. Who does not consider insurance a luxury item. And if they do-- build that pain.

    I'm shopping for insurance-- and the reason agents are whining about the economy is because THEY SUCK. Lets take it further-- I haven't heard from my old agent since I took out my 1st policy-- after my divorce (personal) -- over 10 years ago. the first agent to offer me car insurance (with a voice) gets my biz. I just changed house for same reason. Competitive of course -- I'm a well paid but frugal gal.

    Choose Your R Word!!

    Sell Well and Prosper tm
  • Posted by Inbox_Interactive on 9/6/2008 at 9:22 AM Accepted
    You're selling commercial insurance, so I would not worry about the recession so much. Businesses need insurance, and you're likely not going after new businesses needing new insurance but rather existing businesses who are considering a move.

    If anything, and assuming that your pricing is competitive, you might want to play up the fact that everyone is looking to save money.
  • Posted by Frank Hurtte on 9/6/2008 at 12:03 PM Accepted
    Build yourself a score card.
    When you are launching into a new sales position, often there is a lag time between activity and results. A scorecard allows you to better track the small activitities that will make you better.

  • Posted by Jay Hamilton-Roth on 9/7/2008 at 9:32 AM Accepted
    Throw parties at your place of business. Invite 1/2 existing clients and 1/2 prospective clients. Make it clear that the party itself is a networking opportunity for your attendees and won't be sales presentation. This gives you multiple opportunities to connect:

    * You'll see past clients, and thank them for their past business. Their invitations would be a chance to ask about changes in their life that would require reviewing their policies.

    * You'll have prospective clients visit your office, and talk with people. Have name tags, and have past clients put the # of years they've been with you on their name tags. Prospects will see who / how many of their peers use you for a long time.

    * By creating a networking event, you help your clients' business.
BACK TO TOP

Post a Comment

Related Discussions

Community Info

Top 25 Experts
(Strategy)